The man who failed to see the 2008 crisis in advance is being heralded for his "economic research". 14 years later, we are still paying the inflationary & moral hazard cost for his "solutions".
Every word. I wish I wrote that.
Also, anyone who thinks I am not using the phrase 'masturbatorily congratulated himself for' as often as possible in the coming years is going to be sorely disappointed.
I agree, along with the rest of the stupid stunts of the last 20 years-- Greenspan spawning the housing boom, Obama being complicit with the Feds in bailouts, Trump's tax cut, Trump throwing money blindly at the pandemic , and Biden's useless stimulus package.
The fact he said the subprime mess was grave but largely contained in May 2007 while Schiff was saying in his 2006 mortgage broker speech how subprime would collapse the economy should have disqualified Bernanke from the award... I feel for real economists out there whose foresight cannot get through to people that need the knowledge the most.
Agree. In lieu of the cash prize he should be awarded a helicopter.
If your in the special club you can fail miserably at your job and yet you’ll still get that promotion you didn’t even come close to earning.
It's almost as if they do these things to wind people up! Or is the crash going to be so bad that this is Bernanke's last chance before the results of his actions are exposed?
Great article, cheers.
Fake awards are equity like cheating in chess.
Gotta go off topic... Saw my brother in law today in some "around the house" pants that look pretty sweet... I think I might go get a pair, and then I saw the logo... Lululemon! They're making in roads. I may yet go into one of their stores as a man...
Don't advocate for the devil. As Verbal said: "The greatest trick he Devil ever pulled was convincing people he didn't exist..." As for the rest per Ben Hunt, #BITFD. I can't wait to see how Rudy Havenstein reacts...
Great article. I wish it werent.
Ben is being rewarded by the bankers for following the company line - plunder the masses to enrich the oligarchy. Ben performed admirably. What he did in 2008 opened up the door for further plundering of the dollar and our savings accounts. If you want to look for blame for the inflation we are seeing...look no further than Ben....
Bernanke is an idiot... The Nobel Prize just makes it official.
Excellent article. Bernanke winning the Nobel is a sick joke. Enough of boomers and old people running the world. We have socialized the losses from their irresponsible risk taking over the last 20 years. Give the job to Gen X who can't do any worse.
Forget it, Jake, it's Clownworld.