Did you catch Bernanke today? He looked ill with fear

[grapejelly]

http://www.youtube.com/v/fZuzMKLs9PE

Bernanke on the press conference was death warmed over. He exuded fear in every pore especially after his prepared remarks.

I think he will step down before long...just my hunch. Can anyone say "G. William Miller"? Out of his element...

[FRED]

Re: Did you catch Bernanke today? He looked ill with fear

http://www.youtube.com/v/fZuzMKLs9PE

Bernanke on the press conference was death warmed over. He exuded fear in every pore especially after his prepared remarks.

I think he will step down before long...just my hunch. Can anyone say "G. William Miller"? Out of his element...

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Ask iTulip: The Bernanke Goat Rodeo and Doubting the Next Boom

Never have so many been promised so much by leaders with so little intention to pay up.

by Eric Janszen

Interest created by the “Next Bubble” Harper’s article that's now available online has put me way behind on mail from subscribers. Unfortunately, I can’t answer all the great questions. I’ll focus on two that are representative.

The first question comes from a subscriber who asks:

Q: “What would EJ do it he were Ben Bernanke?”

A: The easy answer is: I wouldn’t be Ben Bernanke. I said when he started: “With a storm of credit collapse hitting US shores, Ben Bernanke has stepped into the biggest goat job in central banking history.” (see Ka-Poom is a Rhyme not a Repeat of History). But that’s too easy. Or right after I got the job I could go to Congress and say, “This central banking institution is so broken we’re better off getting rid of it and coming up with something else.” While that approach certainly lets me off the hook, it's not realistic. Where would Congress get the money to fulfill every election promise made if not the Fed's digital printing press? Besides, if the Fed were abolished tomorrow a private institution will step in to fill the role. Which one? I’d put my money on Goldman Sachs. That might be an improvement – at least GS had the good sense to avoid the worst of the housing bubble whereas the Fed made it happen. For all I know if GS were acting as the central bank in 2001 it might have tried to protect itself from losses later and seen to it that lending laws were not broken and crazy securitized debt products not sold.

[The Outback Oracle]

Re: Did you catch Bernanke today? He looked ill with fear

I have always said Bernanke was either a total fool or one of the Greatest American Heroes in taking this job.
I think "FEAR" is the look that described Bernanke for the last month or so. Frankly if I was him, at about this stage, I'd say "This is all too hard. I didn't cause it...you did" and resign.

Then again he was a part of the "Great Greenspan Debacle"

[phirang]

Re: Did you catch Bernanke today? He looked ill with fear

Guys, the money to pay for the bailout will be sterilized by bond sales to OPEC and BRIC's. I fail to see the need to panic about hyperinflation.

Reflation is more the word.

[grapejelly]

Re: Did you catch Bernanke today? He looked ill with fear

Guys, the money to pay for the bailout will be sterilized by bond sales to OPEC and BRIC's. I fail to see the need to panic about hyperinflation.

Reflation is more the word.

it doesn't compute...a few hundred billion vs. a trillion here and a trillion there of new Fed credit...

[phirang]

Re: Did you catch Bernanke today? He looked ill with fear

it doesn't compute...a few hundred billion vs. a trillion here and a trillion there of new Fed credit...

They're swap facilities that exist because velocity is dead. They will go away when velocity returns.

[Supercilious]

Re: Did you catch Bernanke today? He looked ill with fear

They're swap facilities that exist because velocity is dead. They will go away when velocity returns.

Or they'll be reduced if the master plan includes a brief deflationary shock

[The Outback Oracle]

Re: Did you catch Bernanke today? He looked ill with fear

Anyway,,,,never mind Bernanke....I'm sick with fear!!!!

[*T*]

Re: Did you catch Bernanke today? He looked ill with fear

& how is OPEC/BRIC going to buy more Ts with oil and exports dropping? The process is inexorable. A strengthening dollar is self-defeating.