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  • Bernanke urges US to learn from emerging nations

    From seekingalpha.com

    Federal Reserve Chairman Ben Bernanke said Wednesday that the United States and other rich nations could re-learn a few lessons from developing countries: Adopt disciplined budget policies, embrace free trade, make public investments and support education. In a largely academic speech in Cleveland, Bernanke spoke of the explosion of growth in emerging economies, such as China, India and Brazil. But in his conclusion, he appeared to criticize U.S. lawmakers and others in developed countries who he says have failed to embrace some key economic principles. "Advanced economies like the United States would do well to ... (full story)

And this from the guy whose only knowledge is how to run a printing press...... the guy who wants to throw money out of a helicopter...... GOD spare me these fools.........
He forgot to mention the most important lesson he learned... how to devalue your national currency.
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At least Mr Bernanke realizes it now, although it's a bit too late
Some seem to think that it's entirely up to the FED to resolve the world's crises. That speech seems to be the same tone that, "the Fed can't do it alone".

"such as the importance of disciplined fiscal policies," Would that statement NOT be sound advice for Government's?
Would that not be sound advice for your household?

I don't agree with a lot of the policies, but would YOU qualify for the job ? I wouldn't. I try to keep an open mind.
I actually kinda like Bernanke... there is no action that he took that I can say "That was wrong". The worst I can say is "Well, I see your point...seems pretty risky to me or "Really, are you sure we can't just shoot the bankers?"

Devaluing your currency is a good idea if you want to increase exports and decrease imports. But it doesn't work so well when everybody else does the same thing at the same time.
"Devaluing your currency is a good idea if you want to increase exports and decrease imports. But it doesn't work so well when everybody else does the same thing at the same time."

That's very true. and....

""Really, are you sure we can't just shoot the bankers?"

.....from an open-mind point of view maybe that's what should have been done in '08. Just joking of course but................
I suppose Ben has no other choice but to print more money. With the current and the previous governments which only know to spend more and more, what can he do? Not print money to buy treasuries? Then the yield of those pathetic bond will rise sky high, in no time, US will be broke. He has more than once ask the congress and the administrative departments to be more responsible, but no one listen to him. I know many has confident in yourself, but if you think in his shoes, then you know what other options does he has? none, but just to print more money.
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In other words, Mr Bernanke just follows instructions from "The Top" Regardless how stupid and risky the instructions are Poor Bernanke Or he's just trying to wash his hands and start finger-pointing
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He is very happy to print the money. So now US is deep in the debts. Every new born bady bears tens of thousands of debt. The entire nation became the slave of their creditor eternally.
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Fed chairman speech is a proof of sustained economic growth which accept the sovereignty of socialist countries like india and china. it seems the vicious cycle of artifical economic growth and declininig actual output ratio are not acceptable for us economy.this is way public is so tired to pay more and more tax buden at the cost of poor planning of law maker institutions and think tank.
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