Saturday, December 5, 2009

Crazy Bunning

He chews out Bernanke here .

In very populist tones. Problem is, he is upset that Bernanke "bailed out banks," particularly AIG, and "flooded the economy with cheap money."

Suffice to say Senator Bunning is guilty of a few conceptual errors here...

"You are repeating the mistakes of Japan" Bunning says... Of course, Bunning is correct, but purely by accident. Japan should have done more QE, and Bernanke should do more QE, but that's not what Bunning was talking about... He is furious that Bernanke is "propping up the banks".

He never criticized Bernanke for projecting 9.3-9.7% unemployment and 1.4-1.7% inflation for Q4, 2010 and being perfectly OK with it.

Typical Republican nonsense. Republican Senators don't know which way is up... Totally lost in space.

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