September 14, 2012
– Comments (3)
There is some real red meat in this video. I didn't see Bernanke's press conference, but apparently there is a part where he indicates he'll keep interest rates near zero even after the economy recovers. A person asks him what a little old retired lady who has her money in a savings account should do. He says he should pull it out and put it in the stock market. (This is all paraphrased, but you get the idea). Look. It's hard enough to do well in the stock market even when you have a highly analytical nature and you stay on top of the market several times a day. We all know that. This is no place for old ladies to gamble. Financial repression is hurting our seniors.
QE3 will hook em and clean em and Obamacare will skin em and fry em...
With yesterday's Fed decision and press conference, Chairman Ben Bernanke finally and decisively laid his cards on the table. And confirming what I have been saying for many years, all he was holding was more of the same snake oil and bluster. Going further than he has ever gone before, he made it clear that he will be permanently binding the American economy to a losing strategy. As a result, September 13, 2012 may one day be regarded as the day America finally threw in the economic towel.