Thursday, January 7, 2010

Bernanke: Completely Wrong

Take careful note of the dates in this video clip, keeping in mind the culmination of the bursting bubble in late 2008.

Peter Schiff, an Austrian Economic School adherent, was laughed at by the Keynesians in the years prior to the recent financial crisis. Ben Bernanke, the Fed Reserve Chairman, was saying pretty much the opposite of what Schiff said. Recent history has shown that Bernanke was completely in error. So, why are we listening to him today? He has proven that he really doesn't know what he's talking about.

Schiff predicts that the next bubble to burst will be the dollar bubble. Bernanke has assured us: that won't happen. He's either ignorant... or lying.

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