When I surfed into the Yahoo News web site Business section, I saw the headline “Bernanke challenged on inflation”. “About time that happened” was my spontaneous reaction, but of course , when I actually read the article, it instead described a rather absurd discussion between Bernanke and top Democrat Barney Frank, where Frank criticized Bernanke for exaggerating the threat of inflation. In other word, the creator of inflation is criticized for considering inflation a threat. Hmmm…….
Source link: http://archive.mises.org/6265/bernanke-challenged-on-inflation/
“Bernanke Challenged On Inflation”
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As incorrect as Bernanke is regarding inflation (and monetary issues in general), as Barney Frank demonstrates, others in positions of power are even more wrong.
I find it fascinating that the Democrats have essentially the same position on “easy money” as they did when William Jennings Bryan was their presidential candidate.
“Look, see here. According to the core script we’ve all been handed, you’re just not reading your lines right. Smarten up.”
Venezuala’s most imperious leader, Hugo Chavez is about as wrong as you can get when it comes to inflation. Check out the three stories on Drudge pertaining to the impending disaster in Venezuala. Venezuala is certainly the poster child for the evils that socialism can bring upon a society.
The ONLY difference between Barney and Ben is that Barney firmly believes the Price Level=Inflation argument and Ben is SLIGTLY more skeptical.
Ben is just trying to give the economy time to wash our all the mis-investments created from the easy money of the previous Fed.
Ben,
With all due respect, do you really think Helicopter Bernanke is smart enough to try to soften the landing of the economy? That would imply that the Fed has actually stopped inflating the money supply, and we know that hasn’t happened. I’d expect more of the same, pending further information.
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