Home › Forums › Financial Markets/Economics › Ben Bernanke
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CA renter.
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October 27, 2015 at 3:29 PM #21753October 27, 2015 at 3:36 PM #790713
spdrun
ParticipantNah, but I’d steal his book.
October 27, 2015 at 4:06 PM #790717
Rich ToscanoKeymasterI find it ironic that this topic is currently appearing next to “Getting that 2006 feeling again” in the active topics list. That is a thread about what appears (in my view) to be a pretty widespread bubble in Silicon Valley.
This article pretty much sums up my view: http://blogs.reuters.com/breakingviews/2015/10/15/chancellor-bernankes-courage-hides-bigger-error/
The shorter version is:
1. Too-easy Fed policy leads to bubbles
2. Bubbles burst
3. The Fed responds by easing monetary policy
4. Goto 1Sometime after step 3 but before step 2, the Fed chairman should be hailed as courageous genius and he should write a self-aggrandizing, douchily titled memoir.
October 27, 2015 at 5:54 PM #790722ltsddd
ParticipantWouldn’t buy the books.
Bernanke doesn’t get enough credit for preventing a more serious economic meltdown.
Greenspan doesn’t get enough blame for the mess he “dumped” on Bernanke.
…as for Yellen, I am not exactly sure what she’s been doing.
October 27, 2015 at 6:47 PM #790724Anonymous
GuestI would have never thought that “douchily” could have worked as an actual word, but Rich seems to have pulled it off.
October 27, 2015 at 7:07 PM #790725Reality
Participant[quote=FlyerInHi]What is your opinion of Bernanke, now that we are well past the financial crisis?
[/quote]
That he planted the seeds for the next one.
October 27, 2015 at 7:32 PM #790727moneymaker
ParticipantI like Ben and I would buy his book at the library book sale when it is 50% off.
October 27, 2015 at 9:57 PM #790729Participant…as for Yellen, I am not exactly sure what she’s been doing.
As little as possible, which is what she SHOULD be doing.
October 27, 2015 at 9:57 PM #790730Participant…as for Yellen, I am not exactly sure what she’s been doing.
As little as possible, which is what she SHOULD be doing.
October 27, 2015 at 10:04 PM #790731Hatfield
ParticipantHa. So I saw The Martian last week, and one of the previews was for some action film or other. One of the scenes showed a huge pallet full of cash being dropped out of an airplane, and all I could think of was Helicopter Ben. I hadn’t given him much thought recently until then.
October 28, 2015 at 8:34 AM #790733scaredyclassic
ParticipantHis beard could be harvested to make brushes.
October 28, 2015 at 8:38 AM #790734The-Shoveler
Participant[quote=ltsdd]Wouldn’t buy the books.
Bernanke doesn’t get enough credit for preventing a more serious economic meltdown.
Greenspan doesn’t get enough blame for the mess he “dumped” on Bernanke.
…as for Yellen, I am not exactly sure what she’s been doing.[/quote]
+1
October 28, 2015 at 8:42 AM #790735ParticipantBernanke doesn’t get enough blame for bailing out boomer and corporate scum who should have been allowed to take a bath. Hope the next recession will be worse and the Fed will have fewer tools and less will to stop it. Yep. Said it!
To chaos!
October 28, 2015 at 9:35 AM #790738Rich ToscanoKeymaster[quote=ltsdd]Wouldn’t buy the books.
Bernanke doesn’t get enough credit for preventing a more serious economic meltdown.
Greenspan doesn’t get enough blame for the mess he “dumped” on Bernanke.
…as for Yellen, I am not exactly sure what she’s been doing.[/quote]
Bernanke gets plenty of credit for preventing a meltdown… that’s practically all I ever hear about him.
I don’t agree that he just passively had a mess “dumped” on him. He was with the Fed for a long time and was a major proponent of easy-money policy in the early 2000s. After he took over as Chairman (which was shortly before the bubble peaked), he repeatedly denied that there was a housing bubble, saying that home prices simply reflected positive economic fundamentals.
Thus, he was complicit in the last bubble. Then he went on to play a major role in stoking the next round of the bubble-and-bust, or at least “really overpriced assets-then-bust,” cycle. I’ll admit that the second statement is my opinion and the outcome remains to be seen. However, I think the state of asset valuations in the US is strongly supportive of it.
We’ll see, I guess. In the meantime, I find all the Bernanke hero-worship — which completely ignores the seemingly obvious role of the Fed in helping create these huge booms and busts — to be quite grating.
October 28, 2015 at 9:53 AM #790739Rich ToscanoKeymasterAND ANOTHER THING. (While I am apparently ranting). I am mystified as to why left-leaning/progressive folks seem to be the loudest of Bernanke’s cheerleaders.
All things equal, high asset prices enrich the “haves” and do nothing to benefit the “have nots,” thus widening the wealth gap.
Bernanke’s policies appeared to have a minimal impact on real economic growth (once the liquidity crisis was past), but they resulted in an EPIC boom in US financial asset valuations. Thus, almost definitively, it seems to me, widening the gap between the haves and have nots. (And, on a relative purchasing power basis, benefiting the rich at the expense of the poor).
Yet the people who are most concerned with the plight of the have-nots seem to generally LOVE Bernanke. I just don’t get it.
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