From Porter Stansbury: So Long, Ben This week, we lost a great friend – Ben Bernanke. As Porter and his research team describe in this months Stansberrys Investment Advisory… no other Federal Reserve chairman in history did so much to improve the fortunes of the wealthy. Bernanke dropped real interest rates well into negative territory. That allowed the worlds wealthiest capitalists access to unprecedented amounts of capital at rates of interest that literally paid them to borrow. Meanwhile, the people he fleeced – the workers, the savers, the few Americans left with simple industry and thrift, the kind of folks who would never have believed the government would actively try to hurt them – have been wiped out. Theyve seen the real value of their wages, savings, and standard of living decline by huge amounts. We know what to expect from Bernankes likely successor, Janet Yellen. The central banks policies will continue to support and promote the incredible profligacy of our countrys government. These policies will, in the end, cause unbelievable harm to millions of Americans. They will devastate the average standard of living in our country and leave a great many people in abject poverty.
Posted on: Sat, 12 Oct 2013 02:23:08 +0000