nytimes.com— Ben Bernanke should be reappointed as Chairman of the Federal Reserve only because rejecting him could make the Fed’s policies worse, not better.
Jan 25, 2010View in Crawl 4
@kemp34, i do not speak out of ignorance on this issue. I've studied the Fed for many years and am well versed on their operations. I said the Fed is regularly audited. That is a factually correct statement and is not ignorant. The Fed IS audited and the Fed IS accountable to both the legislative and executive branch. Any claim otherwise is a lie.
"Peg the dollar to commodities like the Consitution mandates and you can't inflate the money supply."Citation please."Then the Fed took over and our dollar has tanked in value since. "And yet our actual material wealth has exploded. Just coincidence I suppose, and nothing to do with a managed investment environs that allows the accumulation of capital and encourages continuous deployment of that wealth (since sitting on a pound of gold doesn't ensure you can retire forever).
I doubt we should be taking any advice from the man who said this in '02:"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."<a class="user" href="http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip.html" rel="nofollow">http://www.nytimes.com/2002/08/02/opinion/dubya-s- ...</a>
arpadJan 25, 2010
Paul Krugmann? Automatic bury.
oldhickJan 25, 2010
@kemp34, i do not speak out of ignorance on this issue. I've studied the Fed for many years and am well versed on their operations. I said the Fed is regularly audited. That is a factually correct statement and is not ignorant. The Fed IS audited and the Fed IS accountable to both the legislative and executive branch. Any claim otherwise is a lie.
jhw539Jan 25, 2010
"Peg the dollar to commodities like the Consitution mandates and you can't inflate the money supply."Citation please."Then the Fed took over and our dollar has tanked in value since. "And yet our actual material wealth has exploded. Just coincidence I suppose, and nothing to do with a managed investment environs that allows the accumulation of capital and encourages continuous deployment of that wealth (since sitting on a pound of gold doesn't ensure you can retire forever).
amazingsteveJan 25, 2010
Fire Bernanke, nuke the Fed. Problem solved.
itsrattlesnakeJan 26, 2010
I doubt we should be taking any advice from the man who said this in '02:"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."<a class="user" href="http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip.html" rel="nofollow">http://www.nytimes.com/2002/08/02/opinion/dubya-s- ...</a>
faroutgraceJan 30, 2010
That is hilarious!