ctindale
Poor Benny the Bernank gets all the blame.
Let us not forget that Greenspan was head of the Fed from August 1987 to January 2006 and saw no bubbles under his watch! These guys get picked to do what the executive wants and just find some jargon to rationalise their activities.
We can not blame these guys for Europe's woes which are even greater and are home made.
The fact is that collectively governments are put in place because they make lots of promises that ultimately are not supportable. Bascically governments are captured by interest groups which try to loot as much as possible. There is a whole social infrastrucutre hanging off these policies consisting of the welfare, legal, regulatory and education industries. Of course most private sector industry groups are working hard to do some looting. This system needs to be unscrambled before real progress can be made.
As for gold - well who knows? I am just a speculator and hoping to survive somehow by having cash on the sidelines to buy enough assets to get me back to square if I have guessed wrong. At present the POG is holding up very well since I was only expecting gold to go to $1650 in 2011, but the goldies have been battered along with the other mining sector shares. It is a pretty volatile market that makes for an uncomfortable ride.
loki
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