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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: X Y Zebra who wrote (24775)	10/24/2004 6:38:33 PM
From: Elroy Jetson	Read Replies (3) \| Respond to of 306849

It fairly obvious Ben Bernanke is the current replacement for Greenspan. Bernanke is in the thrall of Milton Friedman, even to the point that Friedman chose Bernanke to be the guest speaker at his last birthday. It's not just Barron's suggesting this. The speech was a frightening reiteration of Friedman's beliefs that more debt/money creation will solve everything. Friedman was rapturous. A definite highlight of his twisted little life. This Bernanke speech is almost as repulsive as the Friedman Birthday speech - the anniversary of "Free to Borrow and Spend". federalreserve.gov There is a consistent though not precise relationship between the rate of growth of money and the rate of growth of nominal income. They actually think debt creation is the engine of growth. They're so blind they actually believe this crap. These people are very sick - true believers all. We even have our own Friedman groupie here on Silicon Investor, Grace Zaccardi, constantly promoting the gospel of ever greater debt. They're so convinced Monetarism is superior to Capitalism. It's like they belong to some Moonie Cult. Bernanke at the head of the Fed will crater the economy, just like John Law did 200 years ago in France. .