Dr Kevin And Mr Warsh: A Former Fed Governor Exposes The Fed
Submitted by Tyler Durden on 09/14/2012 - 09:41 Ben Bernanke Central Banks Federal Reserve Global Economy headlines Reality recovery Tim Geithner Warsh
Ex-Fed Governor Kevin Warsh provided much food for thought during his appearance on CNBC this morning. Over the course of the following clip, he addresses concerns from just how bad the reality of the global economy must have been for Bernanke and his merry men to have gone "all-in" aggressive - reflecting on this as a panic-like reaction during times now where we are not panicking, the ineffectiveness of QE3 "iPhone 5 will do more for the real economy than QE3", fears over how bad this could get as "there is a reason 'exit' is a four-letter word." Warsh notes the paradox of Bernanke "trying to pull a rabbit out of a hat' each time the economy loses control while calling for Washington to do more - as the politicians know "there's not much we need to do, Bernanke has our back." When asset prices are driven less by fundamentals and more by speeches and policies coming out of Washington, you're taking risks. "Risks are highest in the economy when measures of risk are he lowest"
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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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