Big Boy Banker Ben Gets Special Trophy

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In this video, I discuss the many ironies surrounding Ben Bernanke's winning the Nobel Prize in Economics.

Not only did Bernanke miss all of the warning signs leading up to the Great Financial Crisis of 2007-2008, but he also set the US on the path of using money printing to monetize government spending.

This has caused tremendous inflation and currency debasement, while hurting the working class and people of color the most.

Bernanke never shrank the Fed's balance sheet, as he had promised to do, but rather went to work for two firms that are quite close to the money printers: Citadel and Pimco.

In a clown world, Bernanke is definitely the best choice for this clown award.

Not investment advice! Consult a financial advisor.

Bernanke awarded Nobel prize in economics:
https://www.npr.org/2022/10/10/1127802958/ben-bernanke-nobel-prize-in-economics

Bernanke and the money printer:
https://en.wikipedia.org/wiki/Bernanke_doctrine

Inflation hits the working class:
https://www.marketwatch.com/story/inflation-inequality-is-hitting-the-working-class-harder-than-at-any-other-time-on-record-11649966309

Inflation hurts people of color and rural households:
https://www.businessinsider.com/inflation-hurts-black-latino-hispanic-people-of-color-rural-households-2021-11

Now how do we fix Bernanke's "fixes"?
https://www.bloomberg.com/opinion/articles/2022-10-10/ben-bernanke-economics-nobel-how-to-fix-the-former-fed-chair-s-fixes#xj4y7vzkg

"We will bring the balance sheet to under a trillion dollars":
https://twitter.com/WallStreetSilv/status/1579600161650757632

Fed's balance sheet has only gone up from there:
https://fred.stlouisfed.org/series/WALCL

Helicopter Ben hard at work:
https://i.insider.com/4e3c36996bb3f7a45e00001f?width=600&format=jpeg&auto=webp

Bernanke: Subprime Mortgage Woes Won't Seriously Hurt Economy:
https://www.cnbc.com/id/18718555

Bernanke sees no spillover from mortgage woes:
https://www.reuters.com/article/us-usa-fed-bernanke/bernanke-sees-no-spillover-from-mortgage-woes-idUSWBT00698520070517

Financial crisis of 2007–2008:
https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008

Former Lehman CEO: It's Not Our Fault We Went Bankrupt:
https://www.npr.org/sections/money/2010/09/01/129575287/former-lehman-brothers-ceo-i-told-you-so

Everyone knew there was a problem except for Bernanke:
https://www.npr.org/2010/03/15/124698825/the-outsiders-who-foresaw-the-subprime-crisis

Bernanke goes to work for Citadel:
https://www.nytimes.com/2015/04/16/business/ben-bernanke-will-work-with-citadel-a-hedge-fund-as-an-adviser.html?_r=0

Bernanke goes to work for Pimco:
https://www.theguardian.com/business/2015/apr/29/pimco-recruits-ex-federal-reserve-chairman-ben-bernanke

Short cartoon of Bernanke's win:
https://twitter.com/KennethDredd/status/1579429813328437249/photo/1

Should Powell also get a Nobel?
https://twitter.com/alifarhat79/status/1579486530850426881

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#Bernanke
#nobel
#economics

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