Bernanke
Most have probably seen this before, but as good a time as any to rehash:
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bernanke is an idiot. I cant believe what he did.
Bernanke is categorically not an idiot - unless graduating summa cum laude (when it meant something) from Harvard and getting a PhD from MIT makes you an idiot. He's been a professor at Stanford and Princeton and now holds one of the most important jobs in the world. What have you done lately?
Don't get me wrong - I don't like what he did but that's self-interest as I suspect it is for you.
I dont care how high his SATs were, he has no balls and caved into the Kramers and Goldman Sachses of the world.
This will only send the dollar even further down the crapper which (if I remember my econ 101 class) is exactly what the Fed is supposed to avoid.
Just because the Fed's interest coincide with the interest of the Kramers and Goldmans of the world you interpret that as "caving in"? On that basis, I suppose by driving a car to work you are the lapdog of Big Oil?
The FOMC aims "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." I'm not an economist and I can't fully appreciate all of the implications but is a weak dollar directly contradictory to this?
The weak dollar is largely due to political impression, tacitly exercised, concerning the general public at least.
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