Premature praise for Ben Bernanke from a crank
June 10, 2009 · By Charles Anthony
Jim Cramer, a crony capitalist who frantically demands monetary inflation, of CNBC’s Mad Money, offers laughable praise for Ben Bernanke:
I’ll just come right out and say it: Ben Bernanke will go down as the greatest Federal Reserve chairman in history.
which really is not saying much but then he demonstrates either his complete ignorance or disingenuity:
Bernanke then proceeded to eviscerate the laissez-faire economics of the previous administration and its endless faith in the markets that produced the fiasco that was Lehman Brothers.
Jim, who are you trying to kid? or are you really that ignorant?
The previous administration was categorically not fostering laissez-faire economics in the least. Quite the contrary. The previous administration was actively intervening left, right and center. At a bare minimum, the state monopolization of a currency is completely counter any laissez-faire economy.
Jim Cramer The Crony concludes:
The moment of crisis has passed, the parallels to the Great Depression are gone, all because Bernanke learned the lessons of history and refused to let it repeat itself. Bernanke once seemed Lilliputian compared to Greenspan. Now their statures have been reversed.
Oh, no. The crisis has not passed and the parallels will continue into the future: spiralling inflation.
Oh no the crisis has not passed in the USA , it has only just begun.
Massive debt, massive deficits and Hyper inflation will have the USA caught in stagnation for generations, take it from one who lived through Canada’s Obama light, Trudeau.
Same stupid socialist economics based on fantasy and their kids will never live as well as they did before Obama.
Canada went from the second highest living standard on the planet to 47th, behind some socialist dictatorships.
IMO Ben Bernake should be tried then hung, along with Obama,Clinton, Carter and Gore, in no particular order
jim cramer has to make sure that GE stock starts performing well. you cant do that if you continue to tell the truth.
i cant believe that he thinks that free markets have existed to create the problem. free markets died the day the US fed was created. interventionist policies have proven themselves to be utterly disastrous, no matter what they try. trillions of dollars being artificially pumped into the economy does nothing except exascerbate the problem. buyers of US debt will come down to the federal reserve and dalton mcguinty (why not, so far hes been a disaster, why not sink millions of dollars into 30yr long bonds).
Bailout 2008, a poem by David Jeffrey:
Like a bloodied warrior,
laying broken and torn.
Like a dying soldier, hopeless and forlorn.
But the blood, it be green,
the color of money.
And the soldier is an economy,
and it is anything but funny.
Broken are it’s people and shattered are their dreams.
Thanks to the ultra rich and their full proof schemes.
It is a tragedy with more pain to come.
Finance will be Hell, and their wills will be done.