OK guys, fair enough, I misspelled his name, but really I don’t see why you guys are defending Bernanke anyways.
Here we go….
Peter Schiff isn’t into shorts/puts, he is into commodities, gold, silver, oil, foreign stocks and currencies, he stays out of the USD. So, no, I doubt he lost a dime this week, even though the dow ended up lower for the week. If I had to guess, since oil, gold, and the euro were up so much this week, I’d say he did real well.
As for Bernanke, maybe he is doing the best that he can, but I’m surprised that the Piggingtons are a bunch of fanboys. We have been calling the credit bubble, high inflation problems, and weak dollar here for so long, and the whole time Bernanke is downplaying things, and basically as problems persist, he is forced to slowly eat his words. I guess I am an idealist in expecting some more honesty and the ability to tackle the problems head on.
I see that some here don’t like anyone who tries to expose the credit bubble and the phony economy and markets that surround it. We can’t print money like this forever. The middle class of America can’t REALLY afford to buy a MCMansion, a HD truck, rvs, BMWs, pool, iphones, $200 a month coffee bill, etc. There will probably be a sharp decline in the dow, I don’t know when, but it looks like the dollar is going to continue its plunge as we walk on eggshells around our fragile economy made of debt.
I will give Bernanke a break, but unless we get back to a much responsible fed reserve, these problems will continue. Sorry if I don’t want my daughter to have to pay $20 for a gallon of milk with her credit card. I guess were gonna have to have a few more credit collapses(like the subprime disasters) before we start to limit the amount of indebtedness one man or woman can hold.
