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Old 26th January 2008, 10:26 AM
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Re: Why Bernanke Was Wrong - Motley Fool

Quote:
Originally Posted by bwhhisc
Actually, his article is a come on for his service of selling advice for where to invest in the stock market.
Over a long period, the track record at the Motley Fool is very good, but I don't think the stock market is the place to be.
To quote Jim Cramers famous line, the economy IMO is heading for "the house of pain".
This is a good commentary from the FT:

http://www.ft.com/cms/s/0/f49c67e8-c...077b07658.html

My pick:

"Furthermore, the domestic political pressures on the Fed are stronger. The US is the epicentre of the current economic storm: it is there that the subprime crisis began; it is there, too, that house prices have already fallen significantly. Americans also expect their monetary and fiscal authorities to try to eliminate even the risk of significant slowdowns. For this very reason the Fed has a mandate to seek maximum employment, while the Bank’s primary objective is its explicit inflation target."

My perception is that Recessions are necessary. They provide corrections that are essential to development. Trying to keep an Aeroplane permanently in the Air is possibly not a clever thing to try to do! I think Bernanke is trying to buck the market. I think it will come back and bite his arse.
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