Posted on 09/15/2012 5:10:43 AM PDT by SeekAndFind
Edited on 09/15/2012 5:22:05 AM PDT by Admin Moderator. [history]
About thirty years ago, Paul Volcker launched a monumental monetary effort to bring down inflation. As Fed chairman, he sold bonds, removed cash from the economy, and cared not one wit about rising interest rates. And it worked. Gold plunged, King Dollar soared, and the drop-off in bank reserves and money extinguished high inflation -- and actually launched a multi-decade period of very low inflation.
(Excerpt) Read more at realclearmarkets.com ...
All Obama is looking for...is a boost in job numbers before the election the media can run with. He cares not one wit about what happens after the election.
This commentary from one of Bernanke’s biggest, most enthusiastic boosters when his name was first bandied about as a candidate for head of the Fed. Larry has a bad case of Buyer’s Remorse.
As well he should. Note that Volcker’s policy is diametrically opposed to Bernanke’s. Sane people therefore expect diametrically opposed results. None of those happen to be in government at this time, however.
If obummer gets reelected just think of the mess he will inherit this time!
Love the one liner, I’m stealing it for myself !
If obummer gets reelected just think of the mess he will inherit this time!
I can hear it already... Bernanke’s fault!
The die are cast...this is the reason Obama needs an overseas contingency operation to distract from his domestic failure.
RE: Note that Volcker’s policy is diametrically opposed to Bernanke’s.
For that matter, what ever happened to Volcker? If I remember correctly, he was an Obama supporter in 2008 and was even part of his economic team after the elections.
What’s he doing nowadays?
It’s even funnier when it is a caption with George Bush saying it!
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