We don't want another depression. While I am joking about Ben
a lot, I think he is a very educated man. There are models
for optimal interest rates, and that's why the Fed funds
futures often price the rates just right. -g- The Fed is
even joking if they are necessary.
I think Sir AG is responsible for the bubbles, and the situation
we are in, since he intensionally inflated the RE bubble by
dropping the rates too low. My bet is that Ben will follow
optimal rates, inflation vs depression. However, a double
dip recession seems unavoidable at present. I may be wrong.
AG ran a dictatorship at the Fed, which means whatever he
said was the law. He orchestrated a few CPI revisions. He
also lowered the rates to where, perhaps, they should not
have been, causing all the mess.
It is also Ben's job to prevent a panic in the markets.
Note that Ben has stopped all the printing in May, perhaps,
intentionally. Since then we had troubles. A quiet revolt?
Personally, I don't have any background in economics, but
I have ultimate respect for this man's economic background.
I am sure he knows what he is up against. I am also sure
AG knew exactly what he was doing, achieving short term
gains through bubble blowing, but he did it anyway. I think
AG is a selfish evil man. Ben just does not give that vibe to
me. He is jewish, and is very educated. He deserves to run
the Fed in these difficult times.
While many gold bugs praise Ron Paul for his questioning
of Ben, and for his explanation of the current troubles, I
really think the measures that he is proposing would actually
cause a lot and a lot of pain, and the Great Depression, take
II. These are extremist measures that will likely lead to
a 30% unemployment rate and a lot of empty houses around
the country. |
