Bernanke's Cow Bell in the Night

One thing is for certain: Bernanke is committed.  But so is a one-trick pony.  However, is blind commitment to a theory a virtue or a frailty? The Federal Reserve chairman continues to push the chips out to the center of the table with both hands.  He knows that low interest rates create employment.  He is certain.  Well, pretty certain.  There is one complication though.  They have not.  In a corporate board room, the discussion might revolve around this question: "What are we missing?  That which we believe should work indeed is not working.  Should we reassess and revisit our theories?"  When it is your money at risk, questions like this arise.  When it is not, one apparently becomes married to a theory.  Being stubborn with your own money is usually a poor decision.  Being stubborn with other people's money merely risks one's reputation and place in financial history. Bernanke might wonder if this theory...(Read Full Article)

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