What news could possibly draw a smile from the normally sphinx-faced Chairman of the Federal Reserve, Ben Bernanke? The news that his longtime adversary on Capitol Hill, Ron Paul, is retiring from Congress. But it’s doubtful that Bernanke will have many other light moments in the months to come.
The man once credited with staving off a second Great Depression persists as dogmatically as ever in his faith in the Federal Reserve money machine’s power to cure, or at least to palliate, all economic ills, in spite of mounting evidence that — as Ron Paul and others have been insisting — the Fed’s inflationary “solution” to the economic crisis has only made things worse.
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