America's Economic Future – A Discussion By Ted Kavadas
On Wednesday The Wall Street Journal ran a story titled “Anti-Fed Activists Fuel Push for Audit”: http://online.wsj.com/article/SB125305951231914071.html One quote from Ron Paul really caught my attention: “The Fed will self-destruct,” Mr. Paul said in an interview. “This economy is going to get worse and this dollar is going to get a lot worse.” I found “The …
On Tuesday President Obama made remarks upon nominating Ben Bernanke for a second term as Fed Chairman. The remarks can be found here: http://www.whitehouse.gov/the_press_office/Remarks-By-The-President-and-Ben-Bernanke-at-the-Nomination-of-Ben-Bernanke-For-Chairman-Of-the-Federal-Reserve/ I would like to comment on some of the phrases President Obama used in these remarks. President Obama says, “The man next to me, Ben Bernanke, has led the Fed through …
With the announcement that Ben Bernanke will be nominated for a second term as Federal Reserve Chairman, I would like to make a few comments. First, a brief review of some of the comments others have made with regard to Ben Bernanke’s tenure. Here is a quote from Paul Krugman, as seen in the following …
On July 26th Ben Bernanke said, “”I was not going to be the Federal Reserve chairman who presided over the second Great Depression.” The quote and associated details can be found here: http://online.wsj.com/article/SB124865498517982625.html I found the quote interesting primarily as it once again underscores the popularity (or should I say fixation) that many people, including …
I found this blog post from James Hamilton to be interesting: http://www.econbrowser.com/archives/2009/06/on_grilling_the.html especially when he says this: “But it is another matter to question Bernanke’s intellect or personal integrity. As someone who’s known him for 25 years, I would place him above 99.9% of those recently in power in Washington on the integrity dimension, not …
Recently various people have given high marks and effusive praise for Ben Bernanke’s performance during the Financial Crisis. Here is a sampling: “Bernanke’s Handling of US Crisis Gets Strong Mark” : http://www.cnbc.com/id/31400566 From Jack Welch: “I think he saved the system, I think he’s a national hero,” Welch said. “I think Bernanke seems to be a guy …
Perhaps the most common refrain heard with regard to our current economic situation, and why it won’t become a Depression, is that we as a nation have been proactive and aggressive in “managing” this period of economic weakness. This theory, more or less, has the following generalized (and summarized) structure: There has been rigorous research conducted on the …
A couple of days ago I posted excerpts of a speech by Ben Bernanke in which he outlines various reasons for inherent uncertainty and difficulty in economic predictions and forecasts. It appears that ever since the start of The Financial Crisis, in early 2007, it has been very difficult for forecasters to accurately predict economic performance. For those interested, I have compiled …
For those who didn’t read Ben Bernanke’s Commencement Address to The Boston College School of Law on May 22, I would like to highlight a few passages. I found the passages below informative and telling; I will let them speak for themselves, and might refer back to them in future posts. The entire speech can be …
I will comment frequently on Ben Bernanke, due to his position, but perhaps more importantly, because of his stated theories, beliefs, and ideologies. It seems to me that the handling of The Financial Crisis certainly has the “fingerprints” of Ben Bernanke all over it. In fact, I believe that perhaps no other person’s ideologies have ever played …