Originally posted by voltaireOver simplified. One man cannot fix the economy. It is a world economy. There are a thousand and 1 independant variables and decisions being made by many many many people around the globe all intermixing and causing results to move one way or the other.
http://mises.org/story/3588
No, not Barack Obama, Ben Bernanke.
Bernake is but one man amongst many.
And, if you think Bernake is acting on his own without consultation you are in lala-land.
Originally posted by uzlessAll of these decisions amount to nothing when compared to the importance of the United States' monetary policy.
Over simplified. One man cannot fix the economy. It is a world economy. There are a thousand and 1 independant variables and decisions being made by many many many people around the globe all intermixing and causing results to move one way or the other.
Bernake is but one man amongst many.
And, if you think Bernake is acting on his own without consultation you are in lala-land.
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Originally posted by voltaireAgain, Bernake isn't making decisions on his own. US economic policy is determined by committee. Bernake is the figurehead...the mouthpiece if you will.
All of these decisions amount to nothing when compared to the importance of the United States' monetary policy.
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Originally posted by uzlessEven if that's true his previous statements would have reflected the opinions of the same committee, which the article proves wrong.
Again, Bernake isn't making decisions on his own. US economic policy is determined by committee. Bernake is the figurehead...the mouthpiece if you will.
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Originally posted by badmoonIt did what it could when it caused this crisis.
I think the federal reserve has done pretty much what it can. Next step will be to increase the int rate the first sign that jobs are coming back...hopefully very soon.
No matter your politics you really must want a recovery.