“Ben Bernanke is leaving the Fed at the end of the year. The leading candidates to replace him are all fully committed to continuing his policies, which consist of providing as much credit rope as you need to hang yourself. People come to think what they need to think when they need to think it. When they approach the ‘end of their rope’ phase of a financial catastrophe they need to believe that they have no choice but to play out a little more line. Doubts give way to desperate faith. Reflection is abandoned for action. All of the announced candidates for Bernanke’s job — Yellen, Summers and Kohn – are believers.”
Related posts:
What You Don't Know About Immigration Can Hurt You
Judge Napolitano: I am deeply disappointed by Trump's Supreme Court pick
And now: The criminalization of parenthood
Obama Calls Income Gap 'Wrong' — After Widening It
Obama and Israel Stoke a Sectarian Shia-Sunni War
Detlev Schlichter: U.S. Republicans introduce gold standard debate – mainstream media go mental
Surveillance State? Washington Post Explains It ... Not!
Major Losses Expected for Pork Industry
Jacob Hornberger: How U.S. Sanctions Work Their Evil
U.S. Officials Are Above the Law of Nations and Ordinary Laws
Tom Woods and Pat Buchanan on War, Rand Paul, the Neocons, and More
Do QE Markets Validate A Buy And Hold Strategy?
The Silent Republicans
Why Not Privatize Foreign Policy?
Bill Bonner: Stay Away from Obama’s MyRAs…