Bullard also said on CNBC that the bubbles of the late 90's and
the housing bubble of mid 2000's were " obvious ". Well not
according to the chairmen at the time. Greenspan testified before
congress that increased productivity was the cause of asset
inflation in the 90's so there was no worry, right before the dot
com crash. The bernank testified in 2007 that there was no housing
bubble and only regional problems that were no threat to the
system. oops. Bullard is now trying to rewrite history so the
fed was never to blame for these messes, nothing could be further
from the truth. He has absolutely no credibility at all.
well regardless, I think we all agree that we'll have to pay the
'piper' one day, we can't have our cake and eat it too with the
endless QE, pumping up of financial bubbles, and abhorrent
unsustainable debt levels, and future benefit obligations of
something like 100 trillion!
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Bullard also said on CNBC
Gold: A cynical person............
Posted by randy on 22nd of Sep 2013 at 08:53 am
Bullard also said on CNBC that the bubbles of the late 90's and the housing bubble of mid 2000's were " obvious ". Well not according to the chairmen at the time. Greenspan testified before congress that increased productivity was the cause of asset inflation in the 90's so there was no worry, right before the dot com crash. The bernank testified in 2007 that there was no housing bubble and only regional problems that were no threat to the system. oops. Bullard is now trying to rewrite history so the fed was never to blame for these messes, nothing could be further from the truth. He has absolutely no credibility at all.
well regardless, I think we
Posted by matt on 22nd of Sep 2013 at 12:20 pm
well regardless, I think we all agree that we'll have to pay the 'piper' one day, we can't have our cake and eat it too with the endless QE, pumping up of financial bubbles, and abhorrent unsustainable debt levels, and future benefit obligations of something like 100 trillion!