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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (78209)	8/26/2011 9:07:07 PM
From: Ilaine	1 Recommendation Read Replies (1) \| Respond to of 219927

>>he is not going to be the central banker that lets financial markets melt down and the economy go into a depression<< Well, he's not a miracle worker. It's going to happen like it happens, and it's going to be what it will be. Better to say, he has studied past mistakes and will try not to make them again. But new mistakes are always possible and sometimes there is not much one can do, no matter what. To the extent that depressions are caused by panics, and panics are liquidity crises, at least the Fed can supply liquidity and avert panics. In the Great Depression, for reasons that proved ill founded, the Fed reduced liquidity, exacerbating injury. Bernanke proved this. Not just Bernanke, of course. The biggest critics are hard money believers. I've been studying them for years. Angry men, some even deranged. Most of whom have vested interests in gold. Many of whom actually want the rest of us to fail so that they can profit from our destruction. They desire our come-uppance and divine retribution. Their dream is to show us all, not just that they were right, not just that we were wrong, but that we must be punished, crushed, because we did not listen to them. Pathetic. Grotesque. The rest of us, of course, believe in other assets. Real estate, businesses, commodities, intellectual property, etc. etc. etc. etc. These days converted into pixels flowing without limitation throughout the entire world at light speed. Bernanke wants it to work. He may be right, he may be wrong, but he's not out to punish anybody.