“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:
Lew Rockwell: The US Corporate State
California D.A. Pockets Elderly Couple's $500,000 Bail Bond Money
Jacob Hornberger: Ditch the CIA, the Pentagon, and the NSA
Illegal Drugs: The great experiment
Obama: A Keynesian, Not a Communist
How The Feds Got All That Western Land (and Why It's a Problem)
What Was the Point of Regime Change in Iraq?
Who’s Making Money in a Market like This?
Bill Bonner: Apocalypse Later!
The Debt Ceiling Battle Is Coming
Eric Margolis: Just Back From The Mideast – And I’m Really Worried
The Winner of the Election: George W. Bush
Trump and the Deep State: Is Everyone Getting It Wrong?
Bill Bonner: Is this the end for the bull market in gold?
Why Buffett Bailed on India