The notion that Bernanke's ZIRP is theft from savers is catching on.
This morning, Joe Kernen joins the party. Steve Liesman, as usual, denies reality.
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Liesman: “one other thought, the difference in the confiscatory policies you’re talking about is that the same time you take away from savers you give to borrows.” WTF?!?!?!?!? Is that a justification??? So borrower win, savers lose?!?! This guy is an idiot. AND THEN THE argument about the government’s “responsibility” to provide an interest rate. ARE YOU KIDDING ME??? How about Steve the government’s responsibility to not deflate the currency. DO YOU UNDERSTAND STEVE how that interest rate is kept low? Obviously you don’t or you’d realize how stupid a question that is. “WHAT IS THE RIGHT INTEREST RATE?!?!” STEVE??? It’s the rate the market dictates without printing presses manipulating them. This guy doesn’t understand how bonds work? Or is he just a complete socialist stooge that has no idea the US used to be a freer, capitalistic country?
Props to Joe Kernen at least. I think he realizes he’s dealing with someone completely out of his depth.
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