Like The New Fed Chairman??

[The Rabbi]

http://www0.gsb.columbia.edu/students/organizations/follies/media/EveryBreath.wmv

[Art Eatman]

Roughly 1985, Reagan's folks publicly wanted a weaker dollar.  Well, okay, oil was going into the toilet, so it didn't hurt all that much.  Of course, they overshot, and the Yen went from somewhere north of 150 to a higher value of around 118?  Something like that.

Now?  I personally think the inflation rate is probably double what we're told--and I'm not alone in that belief--and the dollar is going down and oil is going up.

Interesting times, as usual...

Art

[Guest]

Who, "Helicopter Ben" Bernanke?  Mr. "We Have A Printing Press And We Aren't Afraid To Use It" himself?  What's not to like-  the man is going to help me make my mom a millionaire.

Of course, a million digi-dollars won't be what they used to be.  And folks who stubbornly keep their $US in the bank will be bled of purchasing power as inflation and a declining dollar index eat away at their savings while still leaving them with a slowly increasing number of $US thanks to a pittance of interest.  The latest IMF/G-7 meeting pretty much agreed that 'global rebalancing' of all the world's fiat currencies would have to happen, and the $US would bear the brunt of the rebalancing since Uncle Sam has created far too many of them.  The fix is in, all right, but it won't be doing people with only $US any good.  Oh, the continued flow of out-of-thin-air money will help keep the Dow propped up for a while longer, and help continue the illusion that we actually do have some semblance of a healthy economy.   Like I said- what's not to like?

lpl/nc

[BozemanMT]

Buy everything (guns and ammo) now, they are only going to get more expensive.
The sad part is that Easy Al (greenspan) walks away scot free as a "genius" when he pretty much put us here.

[Waitone]

The new FED chief is two things:  a banker and an historian.  He is particularly knowledgeable of the Great Depression.  His observation is the FED failed to inject liquidity into the economy when it started to tank.  Said another way, he says the big mistake was the FED failed to inflate the currency in an effort to stave off economic contraction.  

Combine that little factoid with anther little factoid and you gotta wonder.  Remember that at the first of March the FED stopped publishing the M3 figure, something it has done since day one.  There are persistent stories out that the FED injected $2 trillion into the economy in March.  Amount injected constitutes and infusion of 20% of the existing amount of currency.  We don't know because the FED no longer publishes M3.

A word to the sufficient is wise/

[The Rabbi]

Bernanke is following Milton Friedman's theory that the Depression was a monetary phenomenon.  Having read Friedman's Free To Choose I think he makes an excellent case for that.  The money supply contracted badly and the depression ensued.
I won;t comment on the reliability of "persistent stories."