Comments on: Banker steps into the role of superhero http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/ Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: SteveTX http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12704 Thu, 25 Apr 2013 23:35:24 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12704 Superhero bankers? What hubris for them to think they can control the world economy. The economy is the sum of all the financial decisions made daily by the population of the planet. Economics is a study of history. It is not a predictive science. The bankers should read Human Action by von Mises. They would understand the futility of trying to control the actions of billions of individuals.

I apologize if this turns out to be a double post. But after five hours from the original posting I’m wondering if I said something Reuters didn’t readers to consider.

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By: dareconomics http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12702 Thu, 25 Apr 2013 17:00:25 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12702 Ms. Freeland points out the trend of lionizing central bankers and then piles on wholeheartedly. Money printing is inflating asset prices, which is preserving the status quos for the rich, the TBTF banks and bankrupt governments at the expense of the worker. Note that in every country practicing extreme forms of money printing, unemployment remains stubbornly high depressing wages. On the other hand, lofty stock markets fuel record prices for high end real estate, art and collectibles. This will end badly, but in the meantime mainstream media journalists will deliver breathless odes to their heroes. The rest of us know the truth:

Central Bankers are not Supermen | DARECONOMICS.

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By: SteveTX http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12701 Thu, 25 Apr 2013 15:11:26 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12701 It is pure hubris for the central bankers to believe they can control the economy. The economy is the sum of all personal financial decisions made by the people of the world. More of them should spend some time reading Human Action by von Mises. They would realize economics is a study of history and not a predictive science. What they are attempting to do is impossible.

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By: maier http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12700 Thu, 25 Apr 2013 07:23:08 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12700 Have you forgotten Alan Greenspan?
Was he also a Suberhero ? We don’t need Super Heros,
we need stable institutions and Rules independent of Super Heros.

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By: Robertla http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12698 Wed, 24 Apr 2013 10:20:44 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12698 central bankers are unelected officials that have supplanted democratic institutions, with currency manipulations that benefit only those who use leveraged investments.

A popularly-alleged quote by Mayer Amschel Rothschild is displayed:
“Give me control of a nation’s money supply, and I care not who makes its laws.”

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By: skimish http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12696 Tue, 23 Apr 2013 23:49:34 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12696 Great stuff at the macro level. Where are the details?

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By: UScitizentoo http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12695 Tue, 23 Apr 2013 22:20:12 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12695 > we have called on shamans or saints
Yes I agree comparing bankers to liars, con men, high priests and other self aggrandizing trash is an apt comparison. Recall also that at one time in human history Usury was against the law, or have you conveniently forgotten that.
Bankers as supermen?, after nearly destroying the economies of the world, still due trillions in derivative gambling positions, bailed out by taxpayers forced by governments to kiss their rear ends?
Pretty funny.

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By: ptiffany http://blogs.reuters.com/chrystia-freeland/2013/04/23/banker-steps-into-the-role-of-superhero/#comment-12694 Tue, 23 Apr 2013 20:15:49 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1948#comment-12694 Carney should be a “hero” because he didn’t let the Canadians join in the Wall Street Casino game of gambling on known toxic mortgage-backed financial derivatives like Collateralized Debt Obligtaions (CDSs) backed up by worthless Credit Default Swaps (CDSs). They didn’t fall for the phony models from physicists that assumed that housing prices would always go up.

Isn’t this what we expect of all bankers, but not gamblers? We heed a guy or gal like that to head up the American Bankers Association (ABA) – desperately.

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