Wednesday, August 08, 2012

The New Idiots: Bernanke and The Fed

Congress and the Executive Branch are filled with idiots.  We shrug acceptance--for the time being.

Now the Fed joins!  Ain't life grand??

...a book by Robert Hetzel, a senior economist at Federal Reserve Bank of Richmond, says it wasn’t Bushonomics or greedy bankers or broken markets that caused the Great Recession. In The Great Recession: Market Failure or Policy Failure, Hetzel pins the blame squarely on the Federal Reserve and Team Bernanke.

Oh, the downturn first started with “correction of an excess in the housing stock and a sharp increase in energy prices” — the housing bust and the oil shock. Indeed, those two things were enough, in Hetzel’s view, to cause a “moderate recession” beginning in December 2007.

But only a moderate one. It was the Fed’s monetary policy miscues after the downturn began that turned a run-of-the-mill downturn into a once-in-a century disaster.

According to the book, the Fed kept its discount-rate and psychologically 'tightened' it through hawkish yammering; it should have been loosened, instead.

Never forget:  Bernanke, who oversaw all this, is an "expert" on the Great Depression.


Saint Revolution said...

The Great ENGINEERED (Rec)(Depr)ession...brought to you courtesy of the one world order.

Anonymous said...

And St. Revolution's "source", Dr. Jerome Corsi, is a fraud.

A former banker/investor. 25 years experience. According to Timmy, we NEVER trust them. EVER.

In 1995, Corsi and a business partner convinced 20 Minnesota investors to give him money for Polish investments. That money disappeared and the FBI was called in to investigate. Though they did not find enough evidence to charge Corsi, several investors sued him, winning their court cases.
But they weren’t able to collect from Corsi. He had reportedly transferred all his assets and funds to his wife’s name.

Bankgster!--Corsi has worked until recently at Guilford Securities, a Manhattan investment firm.

Corsi is a conspiracy theorist's wet dream. So easily duped, Timmy.

And here are Dr. Corsi's "pals".

It is now up to YOU to find evidence to refute my claim.

You claim to oppose bankgsters. Corsi is one. Yet, you deny the TRUTH. He also pals around known white supremacists. Yet, you deny the TRUTH.

He's also a plagiarist.

And his birther book was pulled.

Counter with evidence, Timmy, to refute.