Who said this?
Quote:
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"....I would say there were three types of broad errors of policy and policy both here and around the world. One was that monetary policy around the world was too loose too long. And that created this just huge boom in asset prices, money chasing risk. People trying to get a higher return. That was just overwhelmingly powerful."
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a) Ron Paul explaining to Ben Bernanke that sustained low interest rates cause asset price bubbles;
b) Ludwig V. Mises rising from the grave to give a little lesson in Austrian Business Cycle Theory;
c) Peter Schiff warning his clients about house prices; or
D) US Treasury Secretary Timothy Geithner acknowleding that the asset price bubbles of the 2000's were inspired by the Fed.
link....
well I'll be damned....some of the slow kids are starting to figure out that the Fed's actions actually have an impact on the economy. I bet if we give them enough time it'll occur to them that it's possible for the Fed to do things which have negative consequences.