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As another associate quipped after reading Bernanke’s statements:
‘We are all deficit terrorists now!’
From Mike Norman who’s getting very good at this:
New entries on my blog today (Wednesday, May 3, 2009).
Bernanke hasn’t a clue!!
Bernanke warns on deficits as Treasury rates rise
Add Ben to the list of people who don’t understand our monetary system!
Bernanke warns on deficits as Treasury rates rise: Part II
Someone ought to tell Bernanke that the Fed sets rates. PERIOD!! END OF STORY!!!
Bernanke: start work now to curb US budget deficit
Curb the budget, reduce private sector savings. The relationship’s an identity, Ben!
I hope you enjoyed this market rally over the past three months because if the Administration follows Bernanke’s advice–and it’s likely that they will-kiss the rally goodbye and say, “Hello,” to new lows in the market sometime later this year or next year. Depends on when and how fast they “curb the deficit.”