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Politics : President Barack Obama
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To: John Vosilla who wrote (132226)3/24/2013 10:58:31 AM
From: RetiredNow1 Recommendation  Read Replies (1) of 149317
 
Interesting article. At the end of the day, though, John, I believe that Bernanke's policies would actually have been a good thing, had it been coupled with a Congress that was serious about deficit reduction. However, monetary stimulus and fiscal stimulus can only buy us time. We squandered it and have done nothing to reform the underlying system.

Every system or process on earth operates like this. There are natural rhythms that reassert themselves after the artificial redirection is over. It sounds great in the Ivory Tower, but the fact is that we can't repeal the business cycle. Every system requires a period where the excesses are cleared out. We've spent 7 trillion in new debt and 3 trillion in money printing to avoid clearing out the excesses. What that is doing is tripling down on new excesses on top of the old. I don't know how long Bernanke and Congress can forestall the next crash, but when it comes, it's going to be ugly.
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