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Bernanke says overconfidence caused financial crisis

GIH: The ex-Fed chairman Ben Bernanke says that ‘overconfidence’ created the financial crisis.  As any Fed Chair, has he become victim of his own Fedspeak training?  Isn’t confidence good for markets, and fear is bad?  Don’t we worry the investors will have ‘fears’ and depart markets, and spend significant efforts to restore their confidence? From […]

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The Greatest Propaganda Coup Of Our Time?

From Mike Whitney of Counterpunch [48] The Greatest Propaganda Coup of Our Time? There’s good propaganda and bad propaganda. Bad propaganda is generally crude, amateurish Judy Miller “mobile weapons lab-type” nonsense that figures that people are so stupid they’ll believe anything that appears in “the paper of record.” Good propaganda, on the other hand, uses factual, sometimes […]

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FOMC Ignores EM Crisis, Tapers Another $10 Billion – December Statement Redline

GIH: $10 Billion in more taper from the Fed, indicates further tapering.  A bold move against the backdrop of the crisis in emerging market currencies, which caused a stock market sell off and EM Currency sell off.  Unlike many market analysts, The Fed “Sees Growth”: WASHINGTON — The Federal Reserve announced Wednesday another $10 billion […]

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