The Scariest Thing About Bernanke
A monetarist and a mathematician walk into a bar…
“The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt.” ~ Bertrand Russell
“One hundred percent.” ~ Ben Bernanke, on his confidence that the Fed will control inflation
Lately, I can’t help but reflect on Ron Paul‘s End The Fed (ETF). It’s been over a year since I finished the book, yet I keep pulling it off the shelf. Throughout, Paul writes insightfully about politics and money in America.
Like this part about the Bernank:
Some people have been surprised by Bernanke’s irresponsible conduct of monetary policy. There was no reason to be surprised. He was on record promising unlimited amounts of inflation should the need arise.
If Greenspan was cocky about the genius of central bankers, Bernanke is even more so.
Congressman Paul – unlike some – is careful with his words. You don’t get many sexy sound-bytes out of the Rep. from Texas.
And now… the rest of the story. …..
Harold
