Wanna Lose Everything? Follow a 100% “Certain” Forecast From a Guy Who’s Been Wrong 100% of the Time
doubting that the powers that be are getting desperate to maintain stock prices
should consider that announcements of Bailout Ben Bernkanke’s appearance on 60
Minutes and his proposed claim that he may increase QE 2 was enough to kick off
a 3+% ramp job in stocks last week.
of this mindlessness, Bernanke’s appearance did offer us a glimpse into his
thinking or lack thereof. Many commentators have been stunned by his assertion
that he is “100% certain” he can control inflation. I wasn’t. After all,
Bernanke’s been nothing if not 100% certain of himself while being 100% wrong
for the last five years.
who still takes this man seriously, I strongly suggest watching the below video
chronicling his forecasts from 2005 onward. If it weren’t for the fact that his
predecessor at the Fed, Alan Greenspan, was also wrong about everything, the following
would make you want to run face first into a wall.
important item I want to focus on is the fact that Bernanke didn’t see the 2008
Crisis coming, because it gives us an excellent understanding of how out of
touch Bernanke is (or pretends to be) when it comes to systemic risk in the
context, his assertion that he is “100% certain” he can control inflation
should be a clear warning to investors that inflation is coming in a BIG way in
the future. Bernanke has been flat out 100% WRONG on everything, particularly
his own abilities, over the last five years. So be prepared to see inflation
In fact it
Both Oil and
Gold have roughly doubled in price per Dollars since Fed first started buying
Treasuries in March 2009:
agricultural commodities are up some 53% since the Fed announced QE 1.
Bernanke’s claim he can control inflation, the inflationary genie is already
out of the bottle. Seriously, the charts don’t like: guy’s talking about his
ability to control inflation and it’s already here.
So let’s add
an “inflationary storm” to the list of things Ben Bernanke has been 100% wrong
about over the last five years. This makes the official list:
housing bubble in the US
recession happening in the US
subprime crisis being contained
2008 Crisis happening
recovery occurring in the US economy
hitting the US
HOW does this guy still have a job let alone any credibility?
PS. If you
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system and that his policies will end in an unmitigated disaster, I highly
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