The best Fed chief ever?
Ben Bernanke is expected to step down in the next few months. His has been a tumultuous tenure, but has his performance made him one of the great Fed leaders? Here's how they rate.
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Obama after already one year in office should have known that you don't comment as he did concerning the Fed Chiefs. That wasn't a revelation as Obama has continually shown he is the Worst Poker Player in World history. Even when you have the Stones, you don't show your hand. Obama might as well play the game with his Hands UP. Regardless of who is picked as the next FED chief, it's a no-win situation. It's not who was the Best Fed Chief but who was the Least Worst.
My view about Bernanke, and all the money printing, he has done, that has devalued the dollar, I agree with Gov. Rick Perry when he said= Printing more money to play politics at this particular time in American history is almost treacherous – or treasonous in my opinion," said Perry
There are laws in the US, to deal with treason.
The only good Fed chiefs were the ones who recognized the need for economic rebalancing. Paul Volcker is thus a good choice for #1. William McChesney Martin should be #2.
In naming Ben Bernanke #2, Charley Blaine is showing NO UNDERSTANDING OF ECONOMICS.
Bernanke is the KING OF FAKERY. Instead of wanting economic balance, Bernanke tells us he can expand the money supply without causing inflation. This is an OFFER OF SOMETHING FOR NOTHING. In other words, Bernanke is playing us for fools!
The United States is dying for another Fed chief like Martin -- Take away the punch bowl! Yes, Martin's and Volcker's way is PAINFUL, but Bernanke is driving us towards a crash. If you want younger generations to have a good future, the economy must rebalance.
The new Chinese Premier, Li Kejiang, believes in economic balance and sound currency. He cannot do what he wants, yet. The Politburo's refusal to relinquish power limits him. However, if Mr. Li holds the office for a long time, China is going to gain advantage over the U.S. Moreover, if he could, Mr. Li would unpeg the yuan from the dollar, which would channel all those household goods at WalMart and Target back to Chinese workers, many of whom have never owned anything nice.
Bernake is #2, ARE YOU NUTS!?!?!?!?!?!?!?!?!?
This guy is screwing us ROYALLY and can't pull his head out of his **** far enough to see where we should be going next.
Charley, you're a failure.
HOW is the FED necessary, considering we DID NOT HAVE one until 1913? Do you mean to tell everyone that the United States economy sucked from 1776-1913? if you are, then I suggest you go back and read your economic history [YOU know, what you WEREN"T taught in public school]. We were on a gold/silver standard from 1789-1914, except from 1861-1873 [during and after the civil war]; and not only was inflation practically nonexistent, we had the longest economic boom in history from 1866-1896, which was also a period of DEFLATION. Sure, we had periods of recession about every 7-10 years, but they were short-lived. Ever since the FED was established, we've been lucky to have more than 2 to 5 years of a growing economy. Oh, yeah, the dollar has lost 97% of its value, since the fed was established in 1913, and believe me THAT IS NOT a coincidence.
One thing that scares me though, is that China has been importing HUGE [and by that I mean TONS] amounts of gold in the last 10 years. Some people have suggested that when they have enough, they will start backing their currency with gold. If they do that, every other country in the world, that doesn't have enough gold in their vaults, [and most don't] are going to be totally screwed. I'm NOT saying this is going to happen, but it COULD, and knowing Chinese history, it IS possible. Then they WILL be the economic powerhouse of the world again.
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Despite the mixed finish, the key indices traded higher across the board at the start of the session after the advance reading of second quarter GDP surpassed estimates (4.0% versus Briefing.com ... More
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