Bernanke Worse than Greenspan? »
Posted By aic4ever 3 months ago in Business & Finance
Peter Schiff seems to think so.
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KJeffVComment removed: Hard Banned
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beavith13 months ago
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greenspan tried to copy Volcker. Bernanke is trying to copy Greenspan.
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at what point is the copy of a copy just not going to cut it?
i'm sure that i don't want unimaginative. his cheerleading so far amounts to nothing more than rearranging deck chairs... -
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canadianrancher573 months ago
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Sorry I didn't watch the video, but when it comes to Greenspan I felt that his honesty was something to admire, I don't think that he ever adopted goverment policy 100 percent, he usually made a point of warning society about the road that was being taken by fiscal policy but no one seemed to listen. To me he was sort of old school and his understanding of the complete economy was excellent not just the fiscal part of it. When it come to Bernanke he might be well educated but his understanding seems to be all book learned and he can't see outside of the box, he has made the mistake of trying to use old ideas on a new problem and I think that it is going to make things worse in the long run. I could be wrong on how I see it though since I'm not well educated and I'm just a farmer.
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tadair9193 months ago
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"The government's course of action in the face of the sinking economy has been just as preditable.
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First, government officials misdiagnosed the problem, exonerating themselves of any blame and pinpointing various bogeymen instead. For guidance, they turned to studying the causes and cures of the great depression -- which they of course got all wrong. Then they drew an analogy between (their misinterpretation of) the current situation and (their misinterpretation of) the great depression.
next americans were told that in order to prevent another great depression, the government had no choice but to implement the same policies that failed to lift the country out of the actual great depression. Finally, it was time for our wise rulers to set about making things worse, beginning with (but not confning theemselves to) a massive and unprecedented strings of bailouts. Depressed economic conditions will thereby persist longer..."
--thomas woods, meltdown
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