“A stream of income – either from a stock or a bond – is a promise. The value of it depends on how much you trust the promisor and his money. That is the problem. As much as we like Ben Bernanke as a human being, we find grave fault in him as a god. Only a god could know more than the sum of all the knowledge held by all people who are active in the world economy. Only a god could select an interest rate better than the one they select for themselves. And only a god-awful economist could claim to do such a thing with a straight face. The galling thing is that he may be able to keep the whole shebang going for many years more.”
http://moneyweek.com/bill-bonner-its-a-dangerous-time-of-year/
Related posts:
Congress Should Veto Obama's War
Peter Schiff: The Inevitable Collapse
NSA Subversion of the Constitution Warrants Impeachment Investigation
Abolish ICE
Is the lawlessness of Obama's drone policy coming home?
The Fed Has Failed, Failed, Failed
Bill Bonner: Trump’s Not Like Ike
Syria charade: West bent on war, UN investigation meaningless
Is Cyprus a New Energy Battleground?
Paul Craig Roberts: Gangster State US/UK
Everything you need to know about BitCoin
Economist Mag Defends Fed With an Ode to the Dead
Lines ... Lines ... Everywhere There's Lines
Why Buffett Bailed on India
Apple: iPhone Fingerprint Reader Means Government Business