| federal reserve creates bubbles |
I like this from the S&A Digest!
Ben Bernanke saw his shadow yesterday…
The market expected him to start tapering the Federal Reserve's $85 billion in monthly bond purchases. But the Fed chairman announced yesterday he would continue easing…
We're not surprised. A central banker's job is to print money. He causes inflation… He blows up bubbles.
When those bubbles pop, they print more money… It's a vicious cycle.
It's like Groundhog Day… Bernanke takes the podium. He's scared by what's happening in the economy, so he prints more money and scurries home. Only instead of a longer winter… we'll see already artificially high asset prices march higher.
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