Tim Iacono submits: Not that anybody probably cares, with all the many other more important world events in the news such as the disaster in Japan, the bloodshed in North Africa, the unrest in the Middle East, the resurgence of the credit crisis in Europe, and the myriad of festering problems in the U.S., but Fed Chief Ben Bernanke’s first interest rate cut
Tim Iacono submits: Well, at least someone in the mainstream financial media has an idea about why Fed chief Ben Bernanke’s comments about gold last week were at the same time so fascinating and so alarming.
Since his appointment, the balance sheet of Ben Bernanke's Fed has exploded, stock prices have resurged to newerer highs, and home prices are breaking (bad) records once again. However, the following chart of sentiment towards the money-printer-in-chief by income bracket sums it all up... (despite Bernanke's "belief" that "Fed policy is a Main Street policy") Greenspan will be happy though, as Bernanke's disapproval rating is almost double that of his when he left office in 2006 (and approval rating considerably lower).
Given his track record, Alan Greenspan's publication of a guide to economic forecasting will likely prove as successful as Lance Armstrong's guide to drug-free cycling. As Bloomberg reports, Greenspan's new book "The Map and the Territory" is about as credible as art history by Mr.