peaceandlove
01-29-2009, 06:45 AM
Ben Bernanke's blunders
Source: http://blog.mises.org/archives/009325.asp
Posted: January 27, 2009, 6:58 PM by NP Editor
Ben Bernanke, subprime crisis, interest rates
No one seemed to notice that the
more the U.S. Fed chairman did,
the worse things got
By George Bragues
The strangest thing about the ongoing financial crisis is that U.S. Fed Chairman Ben Bernanke has so far come out of it relatively unscathed. Except for the narrowing of some credit spreads over the last few months, economic indicators have not sustainably improved since Bernanke initially moved to address the crisis. In fact, matters have grown significantly worse...
Article continues here: http://network.nationalpost.com/np/blogs/fpcomment/archive/2009/01/27/ben-bernanke-s-blunders.aspx
Faith in Free Markets – According to Mr. Bernanke
Daily Article by Matthew J. Novak | Posted on 1/27/2009 12:00:00 AM
Federal Reserve Chairman Ben Bernanke considers it to be time for more fund transfers to the coffers of struggling financial institutions here in the United States. The details seem to be basically more of the same proposed solutions from the fall of 2008. If you are interested in reading some of his thoughts as portrayed in the common news media, see his comments quoted in this recent CNN.com article: (Bernanke: More bank bailouts needed ~ January 13, 2009
http://money.cnn.com/2009/01/13/news/economy/bernanke_speech/)
In short, while speaking in London recently, he cautioned that the proposed funds for the economic stimulus plan — supported by the robbing of American citizens— are "unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system." This means he is priming for a request for more government funds in exchange for government equity positions in the banks.
There is no mention of the fact that no lasting recovery can possibly come from (1) misallocation of the factors of production, (2) inflation of the money stock in massive proportions, and (3) the squeezing out of capital (in addition to the already-misallocated production factors) from more appropriate, entrepreneurial lines demanded by the free market.
Article continues here: https://www.mises.org/story/3308
Source: http://blog.mises.org/archives/009325.asp
Posted: January 27, 2009, 6:58 PM by NP Editor
Ben Bernanke, subprime crisis, interest rates
No one seemed to notice that the
more the U.S. Fed chairman did,
the worse things got
By George Bragues
The strangest thing about the ongoing financial crisis is that U.S. Fed Chairman Ben Bernanke has so far come out of it relatively unscathed. Except for the narrowing of some credit spreads over the last few months, economic indicators have not sustainably improved since Bernanke initially moved to address the crisis. In fact, matters have grown significantly worse...
Article continues here: http://network.nationalpost.com/np/blogs/fpcomment/archive/2009/01/27/ben-bernanke-s-blunders.aspx
Faith in Free Markets – According to Mr. Bernanke
Daily Article by Matthew J. Novak | Posted on 1/27/2009 12:00:00 AM
Federal Reserve Chairman Ben Bernanke considers it to be time for more fund transfers to the coffers of struggling financial institutions here in the United States. The details seem to be basically more of the same proposed solutions from the fall of 2008. If you are interested in reading some of his thoughts as portrayed in the common news media, see his comments quoted in this recent CNN.com article: (Bernanke: More bank bailouts needed ~ January 13, 2009
http://money.cnn.com/2009/01/13/news/economy/bernanke_speech/)
In short, while speaking in London recently, he cautioned that the proposed funds for the economic stimulus plan — supported by the robbing of American citizens— are "unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system." This means he is priming for a request for more government funds in exchange for government equity positions in the banks.
There is no mention of the fact that no lasting recovery can possibly come from (1) misallocation of the factors of production, (2) inflation of the money stock in massive proportions, and (3) the squeezing out of capital (in addition to the already-misallocated production factors) from more appropriate, entrepreneurial lines demanded by the free market.
Article continues here: https://www.mises.org/story/3308