Wanna Lose Everything? Follow a 100% “Certain” Forecast From a Guy Who’s Been Wrong 100% of the Time
by Phoenix Capital Research
Anyone doubting that the powers that be are getting desperate to maintain stock prices should consider that announcements of Bailout Ben Bernkanke’s appearance on 60 Minutes and his proposed claim that he may increase QE 2 was enough to kick off a 3+% ramp job in stocks last week.
Regardless of this mindlessness, Bernanke’s appearance did offer us a glimpse into his thinking or lack thereof. Many commentators have been stunned by his assertion that he is “100% certain” he can control inflation. I wasn’t. After all, Bernanke’s been nothing if not 100% certain of himself while being 100% wrong for the last five years.
Why break the streak?
For anyone who still takes this man seriously, I strongly suggest watching the below video chronicling his forecasts from 2005 onward. If it weren’t for the fact that his predecessor at the Fed, Alan Greenspan, was also wrong about everything, the following would make you want to run face first into a wall.