I've read the transcripts but I haven't seen the interview yet. I have to admit, Bernanke has gained my respect over the last year. I think what he's done is to prevent the 1929 - 1933 bank meltdown from happening here. And in doing that he's prevented as from have a far more severe meltdown.
Anyway, here are the videos.
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3 comments:
Bonddad,
You seldom respond to comments, but oh how I would love to see your response to Mish's very different take today on Bennanke.
Tom
Thank you for posting Bernanke's interview, Bonddad.
I think it's way too soon to make any judgment about what Bernanke's done. We don't really know if he's prevented any more severe meltdown, or just delayed it and possibly even made it worse. Certainly he hasn't dealt with the problem of the banks, which seem to be in worse shape than ever and continue to need more bailouts. And certainly the overall economy has gotten worse, not better, as your many charts clearly show (Claiming that "well, it could have been even worse" is not much of a boast. Would that work if your boss called you in after you screwed up?) And by printing up so much money he's certainly creating a bubble that is bound to pop sooner or later. I'm not an economist, but I don't think history is going to be kind to him at all.
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