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Mish's Global Economic Trend Analysis
Mish's Global Economic Trend Analysis (globaleconomicanalysis.blogspot.com) has great Ben Bernanke news, photos, videos and more
Thursday, Jan 28
Secret Deals Involving No One; AIG Coverup Conspiracy Unravels
I have talked about conspiracies involving Geithner, Paulson, Bernanke, and former Bank of America Lewis on many occasions. I am more than happy to add another post to the list. April 24, 2009: Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis
Wednesday, Jan 27
Hypocrite Bernanke and his Political Pandering; Bernanke Buys Votes
The job of Bernanke, Geithner, and Obama is to keep the rentier-financiers' imperial plunder regime in power. Ironically, whether or not Bernanke actually made those promises to Reid is irrelevant. Bernanke should never have put himself in the position to be accused. However, the key poi...
Tuesday, Jan 26
Democracy At Work
Dump Bernanke - How You Can Help! What To Say: Make it simple so as to not tie up the lines ... "Vote no on cloture to end debate on Bernanke. I am opposed to the reappointment of Bernanke [give your personal reason]. Anything to stop Bernanke including a fillibuster is fine by me."
Questions Geithner Cannot Escape
What Obama was telling America was "I just had a meeting with two new advisors, and, based on what they said, I'm launching a new policy." And as I have stated before Paulson, Bernanke, and Bank of America ex-CEO Lewis as well. April 24, 2009: Let the Criminal Indictments Begin: Paulson, Bern...
Monday, Jan 25
Wall Street Journal Questions Bernanke's Credibility and Political Will
Yes, much of Wall Street wants to see Mr. Bernanke confirmed. The Street is currently making a bundle off Fed policy, as it borrows at near-zero rates and lends long, and the banks don't want that to end. The banks also loved negative real interest rates in the middle of the last decade, and we kn...
Economist Steve Keen On "The Case Against Bernanke"
Fisher then argued that a starting position of over-indebtedness and low inflation in the 1920s led to a chain reaction that caused the Great Depression. So what did Ben Bernanke, the alleged modern expert on the Great Depression, make of Fisher’s argument? In a nutshell, he barely even c...
Friday, Jan 22
Dump Bernanke - How You Can Help!
Amidst the voter anger at Wall Street and Washington, D.C., ABC News has learned that the Senate Democratic leadership isn't sure there are enough votes to re-confirm Ben Bernanke for another term as chairman of the Federal Reserve.
Tuesday, Jan 19
Steve Keen on Banking Secrets and Fed Transparency
C. J. Maloney wrote his article debunking The Conquest of American Inflation a book by Thomas Sargent depicting a series of mathematical models about “an important idea…an adaptive model [that] allows government to learn from past attempts to exploit the Phillips Curve and to discover a...
Friday, Jan 15
Bernanke Makes Like a Squid, Sprays Clouds of Ink Hoping to Confuse
Information on the health of banks will factor into Fed decisions about when to start boosting interest rates and reeling in other stimulus to prevent inflation from taking off, the paper noted. End The Fed" Got Gold?" Dump Bernanke" The Fed" “Buy Gold; End the Fed” I Demand Honest Money"
Wednesday, Jan 13
In Defense Of Secrecy; Three Prong Attack On The Fed; Selective Myopia
Fed Faces Subpoena Over AIG bailout The Fed has increased that anger and resentment by pointing the finger at everyone else. For details, please see Ben Bernanke Looks In Mirror, Sees Barney Frank. Yesterday the Washington Post reported Federal Reserve earned $45 billion in 2009.
Tuesday, Jan 12
Housing Bubbles, Global Household Leverage, Why Fed's Reflation Efforts Will Fail
Credit bubbles have their foundation in loose monetary policy that makes borrowing appear attractive. Those bubbles may manifest in the form of stock market bubbles as in the Nasdaq in 1997-2000 or housing in 2004-2007. Indeed the Fed is the "Great Enabler" of bubbles.
Friday, Jan 8
Jobs Contract 24th Straight Month; Unemployment Rate Stays At 10.0%
click on chart for sharper image Birth/Death Model Revisions At this point in the cycle birth death numbers should have been massively contracting for months. The BLS is going to keep adding jobs through the entire recession in a complete display of incompetence.
Thursday, Jan 7
Time To Indict Geithner For Securities Fraud
And as I have stated before Paulson, Bernanke, and Bank of America ex-CEO Lewis as well. April 24, 2009: Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis October 20, 2009: Bernanke Guilty of Coercion and Market Manipulation
USA Today: Jobs May Rebound In 2010 - OK But Where Will Unemployment Be?
1. No double dip recession 2. A shrinking monthly labor pool rate shrinking from +120,000 down to +70,000 by 2020 (this lowers the unemployment rate) 3. No second recession for an entire decade Click here to download the Bernanke Unemployment Scenario as shown above.
Wednesday, Jan 6
Taylor , NY Times, Dean Baker Call Out Bernanke
Please consider Taylor Disputes Bernanke on Bubble, Says Low Rates Played Role. John Taylor, creator of the so-called Taylor rule for guiding monetary policy, disputed Federal Reserve Chairman Ben S. Bernanke’s argument that low interest rates didn’t cause the U.S. housing bubble.
Tuesday, Jan 5
Baum Makes Mincemeat of Bernanke's Twisted Logic
Substitute forecast inflation for actual inflation, and the personal consumption expenditures price index for the consumer price index, and -- voila! -- monetary policy looks far less accommodating, Bernanke said. I have pointed this out many times, most recently in Ben Bernanke Loo...
Sunday, Jan 3
Ben Bernanke Looks In Mirror, Sees Barney Frank
If you want to wade through 36 pages of self-serving claptrap, please consider Monetary Policy and the Housing Bubble by Ben Bernanke. U.S. Monetary Policy, 2002-2006 Bernanke, like Greenspan likes to blow bubbles. Bernanke, like Greenspan likes to blame others for his mistakes.
Wednesday, Dec 30
Congressional Legislation Introduced By Barney Frank Pre-Approves $4 Trillion For Next Crisis
Oh, hold on, the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back.” Too bad the same models used to foresee the housing meltdown probably will be used to predict this likelihoo...
Thursday, Dec 17
Pawns For The Fed: George Will, Robert J. Samuelson, Bonddad, Time, Others
Moreover, Ron Paul explicitly put wording in his bill to not question the Fed’s interest rate decisions or monetary policy, and Ron Paul himself has concerns about the Fed's independence from politics. There is a distinct difference between independence and secrecy. There is also a dist...
Wednesday, Dec 16
Time Magazine's Kiss of Death: "You!"
Professor Bernanke of Princeton was a leading scholar of the Great Depression. He knew how the passive Fed of the 1930s helped create the calamity — through its stubborn refusal to expand the money supply and its tragic lack of imagination and experimentation. Chairman Bernanke of Washin...
Bernanke Trots Out The Boy Scout Motto
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen. Anticipation: a Harbinger of Things Not t...
Monday, Dec 14
Thoughts on Fed's Exit Strategy: Stephen Roach vs. Mish
The Fed can "control" using the word loosely, at most one factor at at time. It cannot control money supply and interest rates simultaneously. Therefore it certainly cannot control money supply, interest rates, full employment, and low inflation simultaneously as Roach implies.
Saturday, Dec 12
Americans More Pessimistic On Economy, Nation's Direction
Only 31 percent expect the economy to improve in six months81 percent say persistently high unemployment is a major threat60 percent say stimulus plans have no effect or actually hurt the economyOnly 26 percent feel more secure now than when Obama took office Only 33 percent view Bernan...
Thursday, Dec 3
Senator Bunning to Bernanke "You are the definition of a moral hazard. Your Fed has become the Creature From Jekyll Island"
Chairman Greenspan sold the Fed's independence to Wall Street on the so called "Greenspan PUT". Whenever Wall Street needed a boost, Alan was there. But you went even farther than that when you bowed to the political pressure of the Bush and Obama Administrations, and turned the Fed into an...
Monday, Nov 30
Zombie Capitalism: Bernanke "Marching Ignorantly Forward"
Instead we bailed out Fannie Mae, Freddie Mac, Citigroup, and Bank of America bondholders while raping the GM bondholders (the latter so that Obama could appease the unions). In other words, Paulson, Geithner, Bernanke, Obama, and Congress effectively conspired to rob the poor to bail...
Monday, Nov 16
Bernanke vs. Meredith Whitney
The following video should make people think twice about listening to anything that Chairmen of the Fed Ben Bernanke says. It's a compilation of statements he made from 2005-2007 that will have your head spinning. Meredith Whitney Calls For Double Dip Recession
Bernanke's Outlook For Recovery and What It Means For Jobs
Earlier today, At the Economic Club of New York, Fed Chairman Ben Bernanke gave his Outlook for the Economy and Policy. His speech contains much self-serving claptrap about how Federal Reserve policy save the day. Nowhere has the Fed admitted its role in creating the mess.
Tuesday, Oct 27
Twelve Reasons For A Job Loss Recovery
11. Stimulus Spending. Japan has already proven that Keynesian and Monetarist solutions cannot and do not work, yet we try anyway. Please see Will Stimulus Take Hold? for details. According to Rothbard "More nonsense has been written about balances of payments than about virtually any oth...
Tuesday, Oct 20
Bernanke Guilty of Coercion and Market Manipulation
In April in Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis I made the case that BAC chairman Lewis was guilty of fraud and Paulson was guilty of coercion in regards to the shotgun wedding between Bank of America and Merrill Lynch. Bank of America / Merrill Lynch Recap
Saturday, Jun 13
"Greenspanism" the Root Cause of this Depression
Bernanke, Geithner, and others have stated the biggest mistake in this depression was the failure to rescue Lehman. I have long disagreed, instead declaring the Bankruptcy of Lehman was one of the few things the Fed got right, even if by accident.
Wednesday, May 6
Bernanke Warns of Credit Relapse; Senator Sanders Warns Bernanke
Please consider Bernanke Warns of Danger of Credit Market 'Relapse'. Federal Reserve Chairman Ben S. Bernanke warned that another shock to the financial system would undercut the central bank’s forecast that the U.S. recession will give way this year to a slow recovery.
Thursday, Apr 23
Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis
At a meeting that evening Secretary Paulson, Federal Reserve Chairman Ben Bernanke, Lewis, Bank of America's CFO, and other officials discussed the issues surrounding invocation of the MAC clause by Bank of America. The Federal officials asked Bank of America not to invoke the MAC unti...
Saturday, Apr 11
Bernanke's Scorecard Revisited
In Bernanke's Deflation Preventing Scorecard I noted how Bernanke has fired every bullet from his 2002 “helicopter drop” speech Deflation: Making Sure "It" Doesn't Happen Here. Yet the outcome was still deflation. Bernanke was a perfect 13 of 13.
Bernanke's Revolution
Famously soft-spoken, Bernanke is an unlikely revolutionary. He is, after all, a career economics professor who lacks the charisma of a skilled politician. Rather than praising Bernanke for stretching legal authority, the Washington Post ought to be scared to death by it.
Tuesday, Apr 7
Bernanke's Deflation Preventing Scorecard
In case no one is keeping track, Bernanke has now fired every bullet from his 2002 “helicopter drop” speech Deflation: Making Sure "It" Doesn't Happen Here. Bernanke has failed. "It" has happened. The proof is irrefutable as detailed in Humpty Dumpty On Inflation and Fiat World Mathematic...
Monday, Apr 6
Neither Krugman Nor Bernanke Can Distinguish Excessive Printing From Excessive Savings
Krugman: "I am rather a supporter of Mr. Bernanke at the Federal Reserve which is partly because I think he is the right man for the job, partly because before he was demoted to his current position he was a professor at Princeton University which is where I also teach.
Sunday, Mar 15
Cream Puff Interview With Bernanke On 60 Minutes
Why didn't Bernanke see this coming? How about some clips of statements Bernanke made about housing bottoming and no recession coming. Why no questions on the Fed's role in this mess? How about Bernanke's opinion on the role of Congress?
Wednesday, Mar 4
Bernanke Angry AIG Operated Like A Hedge Fund
U.S. taxpayers may not be done bailing out American International Group Inc. after the head of the Federal Reserve said a fourth rescue of the insurer was needed to keep the financial system from failing.
Tuesday, Feb 24
Bernanke's Hide and Seek Delaying Tactics
Bernanke’s remarks come after some investors expressed concern that the Treasury’s capital-injection plan would hurt banks’ shareholders and lead to government ownership stakes. The chairman added that it will be up to Treasury Secretary Timothy Geithner and the Obama administrat...
Saturday, Dec 6
Case Shiller CPI vs. CPI-U November 2008 Analysis
The chart shows the negative consumer prices as measured by CS-CPI. Those watching the CS-CPI have not been shocked by the dramatic plunge in long term interest rates. Those woodenly following CPI-U preaching about negative real interest rates have been barking up the wrong tree.
Sunday, Nov 30
Housing Update - How Far To The Bottom?
It was the fiscal stimulus that actually helped end the Great Depression, not the monetary policy," said Richard Koo, Tokyo-based chief economist at Nomura Research Institute and author of The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession.
Monday, Oct 27
Something For Nothing vs. Paradox of Deleveraging
I nominate Professor Depew to the winners circle for Five Things You Need to Know: Deflation... And the Headstones Climbed Up the Hills. One Last Thing Additional proof comes from Japan whose Nikkei stock market close to 40,000 decades ago and is languishing at 9000 today.
Fed Attempting To Prevent "Great Depression II"
The Federal Reserve will provide up to $540 billion in loans to help relieve pressure on money-market mutual funds beset by redemptions. In retrospect, the title of this post is inaccurate. It really should read Fed is Attempting to Cause "Great Depression II".
