An obviously post-election frustrated Tom, took out his anger against Federal Reserve Chairman Ben Bernanke in an obscenity laced tirade. Tom was heard to mutter “Who in the hell does Bernanke think he is? He has eliminated interest income for lifetimes of savings so some bozo can get a 2% Refin on a house he could afford from the get go. No wonder people don’t want to invest their hard-earned money in this country.”
Put Bernanke on the ballot. Let me Chair the Fed for a few days.
PS – didn’t the Bank of Jap[an already try zero interest rates and it resulted in the lost decade or was it the lost generation. Nothing like jumping on a bandwagon that we know doesn’t work. For money to reach its most productive value it must have an economic cost to spur the best investments.