Mike Shedlock picks apart Bernankes most recent op-ed at globaleconomicanalysis.blogspot.com and the full article can be read here.
Mike also provides this nifty chart that stood out to me for its simplicity, obviously made in excel in probably less than 10 seconds, to show how Ben Bernanke is living in Wonderland and asks the question of why are we still listening to this guy?
Ben apparently hasn't thought about what it means to target 2% inflation a year- the function is a parabola- Duh! (1+x)^t where x is the interest rate and t is time in years.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/tny_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/tny_pt_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/palladium/tny_pd_en_usoz_2.gif)
1 comment:
"...they want us to pretend that we see the world as they pretend they see it. They need some sort of sanction from us. I know that is we value our lives, we must not give it to them. If they put you on a torture rack, don't give it to them. Let them destroy your railroad and my mills, but don't give it to them. Because I know this much: I know that that's our only chance."
Hank Rearden
Great post
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