Gold gains for third day before US data that may shape rate path
Bullion traded near $2,670 an ounce — touching the highest since mid-December.
Former Reagan administration budget director, David Stockman, says the front runner to replace Ben Bernanke “hasn’t got a clue.”
“I think we are stumbling in to the end game of this whole mis-begotten . . . massive manipulation of financial markets,” said Stockman in an interview with Bloomberg.
“We’re going to replace Bubbles Ben with Calamity Janet. I think she has no clue how to wean pathetic Wall Street from its massive stimulus easy money that’s been going on for this entire century.”
Stockman released a book earlier this year bewailing the abandonment of the gold standard. Economists piled on.
Hat tip, Zero Hedge
3 Comments
Sven
Why would this reporter get so chagrined? This whole system is ROTTEN! But, but, but…..wahhhhhhhh!
Michael Haltman
Janet Yellen or Janet Jackson and does it really even matter?
Bernanke’s successor will be caught between reality and a hard place!
With last weeks announcement signaling no immediate end to QE in sight, was Larry Summers crazy like a fox when he took his name out of the running to replace Ben Bernanke as Federal Reserve Chairman? As this article explains perhaps he was.
At The Political Commentator here: http://goo.gl/sXFbVz
Mike
Michael Haltman
The Political Commentator
2011, 2012 Fabulous 50 Blog Award Winner
New York, New York
Twitter: @ThePoliticalCom
Sir David Young
Go, Mr. Stockman. A lone voice in the wilderness. Funny how investors become deer in the headlights when money is so cheap that throwing it at bonds, stocks, and real estate (again! even a monkey learns to type a word after a few thousand attempts at pounding the key!!) SEEM LIKE THE RIGHT THING TO DO. Dust off that contraption from the French Revolution and let’s start the refrain: OFF WITH THEIR HEADS! Figuratively speaking, of course, we are not terrorists. But Mr. Stockman is so right about these academics not having a clue what to do, first in Fall of 2008 and now 5 years later in Fall of 2013. TIMMMMMBBBERRRRRR.