2.17.2011

The definition of chutzpah

... is an Economist columnist who cheers Bernanke murdering the bond market

... then complains when the bond market isn't there to carry out its usual function of imposing discipline on federal budgets.
I would expect neither Obama administration Jedi mind tricks or secret deals to yield real budget solutions. Explicit outside pressure, from bond markets, will yield deals. And that pressure is not yet forthcoming.

"R.A.," you've got a lot of nerve. Either that, or you're just monumentally clueless. How can it not have dawned on someone whose job it is to cover the Fed that the Bernanke Fed's primary role is Chief Enabler of Fiscal Irresponsibility?

No comments:

More stuff that broke around 1971

We've noted before  that a bunch of economic trends turned bad when Nixon closed the gold window and we launched into the current pure f...