Peter Schiff .... I have his book and agree with his take on things but the mess was created by Greenspan. Ben Bernanke is doing the best he can to clean up. I would like to see Peter Schiff take Bernanke’s job and do any better. I doubt he would
It’s easy to rail against Bernanke but none of his critics would do any better. We have a very bad situation due to our love for making easy money via taking on debt and packaging and selling debt
tend to agree. But I think that's because Schiff probably views the system itself as the problem. Rearranging the deck chairs on the Titanc, so to speak. I have big doubts about it myself.
I would not be lowering rates. That doesn't help anyone in the short run and causes more problems in the long run. The confidence that will lower jumbo rates and other long term rates can only come from dampened inflation fears and a thorough housecleaning of bank balance sheets. Both of those are not helped by lowering short term rates. Also Bernanke said in his 2001 speech that if short term rates don't work he will monkey with longer term rates. That will just take us one step closer to hyperinflation.
I agree. Bernanke has done well considering his options are limited. Now the Fed should stop any other bailouts, and printing of trillions to cover legalized gambling in the derivitives. The American people minus the top 3% will wake up on day to hear news about Central Bank collapse and make runs on the banks, only to find the dollars are worth about 1/10 of their value. Heads are going to roll. I say, let the truth be shouted from the rooftops so the pain and responsible steps are taken in energy independence and fiscal responsibility begin so we can someday get back to what America was all about. Right now, this isn’t my nation anymore. It’s owned by the EU, Arabs, lobbyists and our politicians whom are VERY un-American.