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发表于 2010-10-28 12:28 PM
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Interesting comment
”Bubble Ben had a tough day yesterday. Some bright guys ripped him a new orifice. Run, don't walk to read Bill Gross, Jeremy Grantham, and Ambrose Evans-Pritchard(Telegraph) comments about the lunacy of the Fed QE2 plan as well as the Fed's support of Bubblenomics. Fed policy is a menace and must be mitigated.
I have berated the Fed's Bubblenomics policy for almost a decade. The Fed has never waivered, so I must continue to bring to light how dangerous Bubblenomics is to the economy and society. I apologize for the lack of investment merit in this cause. But it's important that we avoid flushing the entire economy down a hyperinflationary toilet.
Basing an economy on asset price manipulation to support overconsumption is fatally flawed. It creates massive systemic imbalances and risks and prevents us from achieving more permanent solutions to structural economic problems.
We can't paper over these structural issues with a few more trillion QE. We need a nonpartisan political and managerial class that understands this and starts addressing the serious issues we face. Bernanke was mocked and slammed yesterday. He deserves it. “ |
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