Jun

8

Uncle Ben says that high prices curtail demand.

He reminds me of one of the Duke Brothers in "Trading PLaces".

Regards,

Alan

Gary Rogan writes:

What's more important, he is speaking to the lawmakers in the language they understand, "stock market" just like in '08. He hates the idea of curtailed spending so now he wants drive the stock market lower (which he is in general so eager to keep high) until the Republicans cry uncle and approve the debt limit increase without preconditions.

From some AP article:

"Bernanke also issued a stern warning to lawmakers in Washington who are considering aggressive budget cuts, saying they have the potential to derail the economic recovery."

If this isn't a "soft dictatorship" I don't know what it is. A highly-placed official is using credible threats (or implied credible threats) that threaten the economy in order to get his way. Or at least that's my interpretation of an unclear picture. "Approve the debt limit increase or this puppy gets it."

 


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  1. david on June 9, 2011 2:42 pm

    He's afraid of bubbles. But I wish he'd have torn into Jamie "D" for confronting him on the damages that the new regulations on banking are causing poor Chase and the like. Would love to have heard Ben say in response, " Mr. "D" aren't you named in a class action suit for breaking your duty to clients?"….reminds me of a dog that poops on the floor and gets its nose rubbed in it. Guess "D"
    doesn't like his nose in poop…….

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