Federal Reserve Chairman Ben Bernnake will testify Friday before Senate Budget Committee.
His testimony is scheduled to begin at 9:30 a.m. EST.
Loyal regime member that he is, he will warn about the dangers of the growing debt, but in the end he is likely to urge that the debt ceiling be raised, for the stability of the country, of course, despite the fact that increasing the debt limit will only increase the instability in the economy.
Wenzel, will the double-digit inflation that you refer to be like what the U.S. had in the 1970s and will it turn into hyperinflation in your view?
ReplyDeleteThe only question I have on Bernanke is this:
ReplyDeleteHis grandfather comes to the United States in 1891. Jonas Bernanke an immigrant from Austria-Hungary via Poland. Bernanke's dad buys the pharmacy from Bernanke's grandfather Jonas. Bernanke's dad works 2 jobs, his mom was a school teacher. They lived in a small ranch house - which recently foreclosed on the owners who bought it.
How can a guy from these roots be or for that matter want to be an elitist??????
Beranke is smart enough to teach himself calculus how could he be so stupid as to not get what he is doing to our currency.
Everyday: I ask myself if he is an elitist or just a stupid asshole?
Out of the entire financial disaster that is coming - this remains the only question I can't answer.