Equalizer: I agree. Most of my ire is not so much directed at Ben as Greenspan, and the realization that Greenspan’s loose monetary policy brought us to this spot.
The FED is supposed to provide sound monetary policy and protect the viability and stability of the financial system. Unfortunately, we’re now deeper and deeper down this particular rabbit hole and because the very organization tasked for our protection, the FED, led us astray.
I don’t think Ben is going to save us. I don’t think Obama is going to save us. And I sure as hell don’t think the Chinese are going to save us.
In the short-term, we have no good choices. Ben has to run the printing presses, because the other alternative is worse. My fear is that, once this particular genie is out of the bottle, no one will be able to put it back in.
