The Forum > General Discussion > Drunken Ben Bernake Finally Tells the Truth.
Drunken Ben Bernake Finally Tells the Truth.
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Ben said that the economy would not recover no matter how many stimulus packages they created.We heard all the lies about green shoots and the GFC was over but many of us who know about the fundamentals of economics knew better.
Unlike the USA,we own and have some control our Reserve Bank of Aust.The US Federal Reserve is privately owned and only has Govt representatives on its' Board of Governors.
We will soon need a courageous leader that will make the RBA the lender of first resort to get us through this crisis.We can legitimately create our own money to equal growth without creating inflation.Money costs nothing to create and our real wealth is in a skilled and knowledgable population.Govt spending in non productive areas must be drastically reduced but the real productive economy must not be starved of cash.
Our pollies appear to be economic illiterates and lack the courage and will to do what is necessary for our survival.