David Woo is not the only economist who is alarmed. Milton Friedman predicted exactly what would happen. Obama is spending, taxing and borrowing every dollar he can get,and crimping the economy with endless anti capitalist rules, edicts and regulations. Bernacke is printing wildly.He is also committing American taxpayers to EU bailouts and IMF schemes. Friedman predicted that initially parameters might look good and equity markets would increase in price.However since there has been no real increase in production or real wealth, the inevitable consequence will be inflation, a decline in stock real value and further economic decline. The American people will endure a lower standard of living for a long time. Both Obama and Bernacke hope they will be gone before the full consequences of their bizarre policies are undeniably real. Bernanke is the worst individual ever appointed to high office.
No jive! Sad part is no one in power has the smarts to see that and the kahuna's to remove him. Bernanke is literally robbing the futures of any one under age 40.
If you think Bernanke is bad, check out Lew, at the video just above.