June 25, 2011

Bernanke Runnig Out of Ideas

[From article]
"Hapless Ben Bernanke is on an unlucky streak that he partly brought upon himself. Hopeless Joe Biden -- in case you've forgotten, he has "Vice President of the US" on his business cards -- is just a sad, sorry guy.
[. . .]
When talking about the financial crisis caused by Wall Street, Bernanke noted that this was "possibly [the worst] in the history of the United States."
[. . .]
My first point: this is dishonest. My second point: Biden should know that this is already being done. It's called "geometric weighting," has been used for more than a decade (and written about in this column extensively) and does absolutely nothing except cheat senior citizens out of their Social Security cost of living increases.

http://www.nypost.com/p/news/business/ben_escape_hatch_VfbQE8MuBsNSdvz33kWOtM

Ben's escape hatch
Avoids blame by labeling crisis 'worst ever'
John Crudele
New York Post
Last Updated: 3:45 AM, June 23, 2011
Posted: 12:23 AM, June 23, 2011

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