Ben Bernanke is a modern American economist, and that's precisely why he may be a very dangerous selection as the next Chairman of the Federal Reserve. Modern American economists are the most dangerous sorts of economists on the earth, according to Dr. Kurt Richebacher, and old- school German economist.
Bernanke holds a B.A. in economics from Harvard University and a Ph.D. in economics from the Massachusetts Institute of Technology. He also roamed the halls of Princeton University as a Professor of Economics and Public Affairs.
And if those credentials don't scare you, remember that Bernanke also served on the FOMC under Alan Greenspan. In short, Bernanke is a thoroughly modern central banker. He is so modern, in fact, that he holds personal savings in low esteem. The U.S. current account deficit, he theorized earlier this year, results largely from a global "savings glut." Is it our fault that the rest of the world doesn't know how to spend its money?
And since foreigners won't spend theirs, we Americans will borrow and spend it for them. This is the new world order. Even Bernanke admits that some of his theories are "unconventional." Dr. Kurt Richebacher calls them "insane." Indeed, Dr. Kurt thinks that much of what passes in America for cutting-edge economic theory is insane...and this widespread insanity is only serving to speed our downfall...
