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Santelli Blasts Bernanke: “Whatever You’re Doing, It Isn’t Working”

Posted By admin On January 31, 2013 @ 6:06 am In Money Watch | Comments Disabled

Zero Hedge [1]
Jan 31, 2013

While some would look at the surge in government spending in Q3 last year (ahead of the election) and subsequent plunge in Q4 as conspiratorial, CNBC’s Rick Santelli takes a step slightly further back as he draws the analogy between the mystical monetary experimentation of Ben Bernanke and his horde of central bank cronies and the “bloodletting of leeching” of medieval medicine providers. The point being that if you were sick in the middle ages, leeches were applied; and if you returned weeks later (still sick), more leeches and blood-letting took place – with no lesson learned. The fact that we borrowed $300bn in Q4 and managed a dismally dire drop in GDP growth offers little hope as the world glares agog at the Dow Jones Industrial Average index while Bernanke, six years on from the start of the recession continues to apply the same medicine that has done nothing to resurrect our economy. In Rick’s words, “Whatever you’re doing; It isn’t working!” and in fact the monetary support could potentially hurt the economy in the medium-term as debt piles up exponentially. An epic rant…

 


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-01-30/santelli-blasts-bernanke-whatever-youre-doing-it-isnt-working

[2] Paul Blasts Bernanke: “Federal Reserve Delivered This Crisis To Us”: http://www.prisonplanet.com/paul-blasts-bernanke-federal-reserve-delivered-this-crisis-to-us.html

[3] Bernanke to Congress: Fed to Act if US Recovery Stalls: http://www.prisonplanet.com/bernanke-to-congress-fed-to-act-if-us-recovery-stalls.html

[4] Fed Stimulus Still Needed to Help Recovery, Bernanke Says: http://www.prisonplanet.com/fed-stimulus-still-needed-to-help-recovery-bernanke-says.html

[5] Shhhhhhhh! Dow Loses Nearly 2,300 When Bernanke Talks: http://www.prisonplanet.com/shhhhhhhh-dow-loses-nearly-2300-when-bernanke-talks.html

[6] Bernanke: Recovery “close to faltering”, Fed could act: http://www.prisonplanet.com/recovery-close-to-faltering-fed-could-act.html

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