Ben Bernanke's Latest Defense of the Fed's FailuresBrendan BrownMises Institute Apr. 13, 2015 |
Claim Jewish Student Was 'Stabbed In The Eye' by Pro-Palestine Protester Draws Mockery After Video Released
Mistrial Declared in Case of Arizona Rancher Accused of Killing Migrant Trespasser
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
Senate Passes $95B Giveaway to Israel, Ukraine, and Taiwan, Combined With TikTok Ban
AP: 'Israeli Strikes on Gaza City of Rafah Kill 22, Mostly Children, as U.S. Advances Aid Package'
Fed officials have been busy lately spreading the view that incessantly low interest rates are symptomatic of a still-dim economic reality rather than a result of their own monetary experimentation. Indeed they are full of self-praise for not having been hasty to raise rates given the overwhelming evidence that the natural or neutral level is indeed very low. They even weep for the plight of the small saver. But the tears are crocodile tears so long as the designers and implementers of the wildest monetary experiment in contemporary US history continue to deny in this way their lead role in creating the interest income famine. Ben Bernanke in his first blog piece for the Brookings Institution has joined the campaign to exonerate the Fed of any responsibility for the famine. This is an exercise in great deception. Read More |