[quote=livinincali][quote=FlyerInHi][quote=SK in CV]Just for a different perspective, I think he’s done an absolutely masterful job the last 5 years keeping the economy afloat. And continues to do so, despite the lack of support of legislators.[/quote]
That’s exactly it.
Fiscal policy has actually been very counter productive.
Bernanke did quite well with the monetary tools at his disposal.[/quote]
Nobody thought Greenspan’s low interest rates policies in 2003-2006 to deal with the dot bomb were bad either at the time. It wasn’t until after the housing bubble blew up, that we looked back and said that was kind of dumb. I figure this time will be no different. When Bernanke’s successor is forced to deal with the fed’s bloated balance sheet they’ll look to point the figure at Bernanke’s stupid policies of the time. “If Bernanke wasn’t so focused on the short term we wouldn’t have to be dealing with this mess,” will be the catch phrase 5 years done the line if not sooner.[/quote]
I don’t think those who think that low interest rates were the main problem from 2003-2006 have a clue what they’re talking about. It wasn’t the interest rates, the genesis was the almost non-existent lending standards.
