Remember, the only thing that pulled us from the brink in 2008 was Bernanke printing like a lunatic. It’s the ONLY thing that has held the market together. And while it may have kicked off a major rally in stocks… it FAILED to address the underlying issues that caused the Crisis in the first place: namely excessive debt and leverage.
In fact, Bernanke has made the financial system even MORE leveraged than it was in 2008. So if the Fed’s moves no longer have an effect on the markets, then it’s time for the REAL Crisis… the Crisis to which 2008 was a warm up.
Monday, February 28, 2011
2008 Just the Warm Up?
Posted by Nick