Bernanke Confirms: “If We Were To Tighten Policy, The Economy Would Tank”
Financial analysts have opined that the United States is well on the road to recovery. They cite various data points to make the case that the multi-trillion dollar bailouts and stimulus have brought us back from the brink of a collapse so serious that Congressional leaders had been told that should the bailouts fail, there was a real possibility of martial law being declared.
We’re doing so well, in fact, that just a couple of years ago President Obama assured the nation of our progress, claiming that we “reversed the recession, avoided a depression, [and] got the economy moving again.”
But were one to take a step back from the rhetoric of talking heads, political leaders and so-called Wall Street experts, a completely different picture begins to emerge.
Just this week it was announced that not only are housing starts plummeting, but permit applications reported their “largest miss in history,” an indicator that the economy is not as healthy as it has been made out to be. And, while stock markets are hitting all-time record highs, what’s curious is that some of the world’s largest companies, including Intel, IBM, Google, Ebay and FedEx, are reporting significant consumer pull back and earnings below analyst expectations.
And if that hasn’t convinced you, then here is the reality of the situation directly from Federal Reserve Chairman Ben Bernanke, the architect of the most massive economic recovery “plan” ever devised in the history of the world.
“I don’t think the Fed can get interest rates up very much, because the economy is weak, inflation rates are low,” Bernanke told the House Financial Services Committee.
“If we were to tighten policy, the economy would tank.”
What Helicopter Ben is saying, despite his pledge to start pulling back the monthly $85 billion (Over $1 Trillion yearly) in stimulus spending by mid-2014, is that if they stop injecting financial and bond markets with capital, the whole system is going to fall apart, just like it was going to in 2008.
There is no way out for Ben Bernanke’s policies. We’re toast either way. If we keep printing, we eventually hyperinflate our currency to oblivion, leaving our entire system of commerce at a standstill. If we stop printing the system “tanks,” as noted by the Chairman.
The end result, any way you slice it, is complete and total detonation of our financial, economic and monetary systems:
His answer? The economy will tank.
Did that tell you everything you needed to know?
It should have.
He can’t exit.
Not now, not ever.
Which paradoxically, means he will exit because if an outcome is inevitable then the longer you wait and the more distortion you pump in before it happens the worse it is and he cannot avoid owning the outcome either way.
Think it through folks.
Then get ready, because it’s coming.
Following the 2008 crisis, former Treasury Secretary Henry Paulson was quoted as saying that the United States was on the brink of a total collapse, something his successor Tim Geithner echoed in an open letter to Congress.
This is happening, and our Federal Reserve Chairman just confirmed it.
Ignore it at your peril.
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Date: July 18th, 2013
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