Comments on: Ben Bernanke: The ‘Repo Man’ goes global Wed, 16 Jul 2014 00:47:01 +0000 hourly 1 By: Pingry Thu, 10 Feb 2011 05:49:39 +0000 Wow, you’re totally clueless.

Printing money?

You do realize that the Bureau of Engraving and Printing, which is part of Treasury, physically prints the money (along with the Mint, also part of Treasury, which coins physical money too)?

Now, just when these amateurs claim they know that, let’s talk about the money supply: There has not been any big change in the money supply (M2). I mean, have you even taken the 10 seconds necessary to create a graph from FRED?

Clearly, you screwed up excess reserves with money. Good job hombre. Do you need a lesson in channel-corridor economics too?

So, please tell me how monetary policy neither rejuvenates the economy nor creates jobs using the principle of monetary nonneutrality given price stickiness.

And I dare you to find empirical evidence that monetary policy created the housing bubble. Here’s a hint, it ain’t out there, no matter what phony coefficients John Taylor uses.

You know damn well that Wall Street pumped up the bubble with financial innovation, and so do good economists who have done more rigorous work than you have with your watered down MBA classes.

Finally, commodity prices are very volatile and have generally foreshadowed neither major inflation nor major deflation.

Why weren’t you and your ilk whining about deflation back in late 2007/early 2008 when commodity prices plunged?

And, by the way, those very volatile commodity prices I just mentioned have now pushed the overall commodity index back to where it was before it plunged back in December 2007, when, you know, output also plunged.

So there you have it. An investment manager and blogger who cannot even understand that commodity prices have been driven by growth and not monetary policy.


By: HealingKnife Thu, 10 Feb 2011 00:03:42 +0000 Ben has ingenious ideas and deserves the Nobel Peace Price.
This magician has proved, that wealth can be created from nothing simply by printing more money.
This opens for the first time to the mankind a real change to eradicate the poverty, which is the main cause of all evil.
Ben is a true follower of The Zimbabwean School of Economics, who already before him have successfully adapted this money printing methodology.

By: fallboy Wed, 09 Feb 2011 13:42:28 +0000 LeeAdler is perfectly right–Bernanke will go down in history as an incompetent, smug, pretentious, and toxic unelected official who had access to the jugular vein of the economy, when he should have been removed far long ago. Yet, our generation will be seen in history as the complacent dupes that let him and his bankster cronies reap havoc on U.S. citizens. Don’t think for one minute that his grandchildren will not be wealthy from Bernanke’s corruption, while 99% of the next generation of citizens will likely have a very rough life.

By: Missinginaction Wed, 09 Feb 2011 11:12:18 +0000 IMO the low rates are just a method of recapitalizing banks while grandma & grandpa get 0.25% on money that they worked a lifetime to save. You see, grandma & grandpa aren’t “investors” so they don’t register in todays world. Sort of like those people who have stopped looking for work after a couple of years of frustration and aren’t counted as unemployed…..this counting method then improves the unemployment rate and the stock market just loves it!

Just took my kid out for a burger last night. I noticed the little Whopper on the dolar menu now costs $1.29. Yum!

Our central bank tries to solve a debt crisis with more debt than ever. This will end badly. Oh, wait, it already is ending badly.


By: gordo365 Tue, 08 Feb 2011 16:31:04 +0000 SO the un-naturally low fed rates are pushing risk averse investors into high risk asset classes. Where have we seen this before? Oh – that’s right – earlier this decade when fed (chasing deflation monsters) lowered rates and created un-natural demand for mortgage backed securities.

That didn’t work out so well. Maybe it will work better this time.

Is the fed banking on hope?

By: LeeAdler Mon, 07 Feb 2011 19:36:07 +0000 Sorry. I guess my take on Bernanke was too harshly worded for this venue. My apologies.

By: LeeAdler Mon, 07 Feb 2011 18:53:48 +0000 This will end badly, but probably not until the Fed says Uncle. The troubles are showing up in the bond market though, as the foreign central banks have halted their subsidies, causing the Fed’s efforts to prop the Treasury market to fail.

All of the Fed’s money printing is having the obviously expected effects. The dollar is weakening. Commodities are skyrocketing. Even gold may be getting in the act. Equities are inflating, and foreign governments who usually buy our bonds are facing raging inflation, weakening their economies, and increasing the cost of their manufactured goods in the US. It’s all bad.

Yet Bernanke in his speech to the National Press Club refused to take any responsibility for the commodity price speculation that his damned “printing press in the basement” is fueling. He’s willing to take responsibility for the increase in stock prices, but not the increase in commodity prices that is wreaking havoc all over the world, and is about to wreck the US economy too. This kind of double talk is the hallmark of a narcissistic psychopath and pathological liar. Does Bernanke actually believe his own swill, or is he just evil? I prefer to believe the former, but it really doesn’t matter. The end result will be the same.  /bernankes-narcissistic-swill-professio nal-edition/