Not Clear To Bernanke That Stock Prices Are Wildly Overvalued
Tyler Durden
Fri, 10/09/2020 – 08:01
Authored by Mike Shedlock via MishTalk,
Former Fed Chair Ben Bernanke chimes in today with more of his typical silliness.
Bernanke in a Fog Again
LOL they probably charged like $10,000 a ticket to hear this great “analysis” https://t.co/NjJYNF4unM
— Quoth the Raven (@QTRResearch) October 8, 2020
[ZH: Nope, nothing to see here…]
It was not clear to Bernanke in 2007 that there was a raging housing bubble either.
In fact, he denied there was one.
Why Are We Still Listening to This Guy?
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In the above link Bernanke says that forwards guidance won’t work if the neutral rate is below 2%. Amusingly, his solution is to raise forward guidance.
100% Proven Track Record
Ben Bernanke has a 100% track record of denying bubbles.
Moreover, even in retrospect, he cannot and will not self-assess.
He will not admit that absurd Fed policies helped span the dot-com bubble and 100% created the housing bubble.
via ZeroHedge News https://ift.tt/3dcAin0 Tyler Durden