BERNANKE'S DEVOTION TO THE AMERICAN BUBBLE ECONOMY IS UNSHAKEN...
HE INTENTS TO KEEP PRINTING MONEY UNTIL THE DOLLAR IS TOTALLY FUCKED AND OIL IS AT $200 ...AND GAS PROBABLY $6 TO $10!!
THE PROBLEM IS THAT HE VIEWS THE ECONOMY THROUGH THE LENS OF WALL STREET...
BUT THE REAL PROBLEM IS WALL STREET...AND THE ASSET PRICE BUBBLE!!
THE SAME ASSET PRICE BUBBLE THAT NOW MUST BE "SAVED" TO PRESERVE MOST MAJOR AMERICAN FINANCIAL INSTITUTIONS!!
WHATS WRONG WITH THAT PICTURE...?
WELL, IT'S "WIEMAR GERMANY" REVISITED....!!
BERNANKE'S MUCH TOUTED STUDY OF THE HISTORY OF DEPRESSIONS...SHOULD HAVE INCLUDED THE GERMAN EXPERIENCE IN THE 1920'S...AND NOT JUST AMERICA AND EUROPE IN THE 1930'S...
OR DID BERNANKE EVEN GO BEYOND THE MICRO-ECONOMICS OF THE US DEPRESSION IN HIS STUDIES AT ALL?
APPARENTLY NOT...
