Marc Faber - Ben Bernanke Should Resign

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Sep 14, 2012
Big bear and managing director and editor of the Gloom Boom and Doom report was on CNBC reacting to the start of QE3.


-- He thinks expansionary monetary policy of Alan Greenspan and Ben Bernanke has created a mess of the U.S. economy.

-- Housing bubble was caused by expansionary policy of Fed and led to the worst financial crisis.

-- Consumption has never led the economy out of recession; it is always capital spending.

-- He said if he was Ben Bernanke he would have resigned by now.

-- If he really wants to help households and the man on the street he should send a check of $5 million to each household and put that on U.S. balance sheet rather than QE3.

-- He said, "Quantitative easing helps the Mayfair economy, the economy of rich people whose net worth increases. The money doesn't flow to the man on the street."


Credit and Source: CNBC, www.cnbc


Here is the video: