Savings Glut and other nonsense
My only reservations with Bernanke are a couple of his speeches as a Fed Governor:
The Global Saving Glut and the U.S. Current Account Deficit -- was just so much political blather. It completely fails intellectually.
Deflation: Making Sure "It" Doesn't Happen Here --was hopefully just jawboning. I assume that threatening to drop follars onto the landscape from helicopters to fight deflation was merely an amusing visual, and not actual monetary policy.
This means that that there is still an opening for a new Governor . . . (I know who it is going to be, but I am sworn to secrecy ; )
Monday, October 24, 2005 | 12:03 PM | Permalink
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I have some reservations too...
The 'government has an invention called a printing press' (to print money) scares me. The 'classic helicopter drop' of money to combat deflation statement didn't impress me too much either.
The equity markets seem to be happy with the announcement - and why not? He gives the impression of being easy with monetary policy. Prepare for more bubbles.
Looks like we may *all* be billionaires in a couple of years :)
Posted by: Idaho_Spud | Oct 24, 2005 2:10:31 PM
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