We do not have television at home, so I do not see The Daily Show with Jon Stewart very often. I just caught this short segment in which he skewers Federal Reserve Chairman Ben Bernanke for stating that he’s not printing money now with QE2. With his excellent comedic timing, Stewart then shows Bernanke describing a very similar process done earlier as being a way to print money. And, the part on actually printing money is hilarious. Check this out:
The Big Bank Theory
Daily Show Full Episodes Political Humor The Daily Show on FacebookSource: The Daily Show
The reference to “The Bernank” came from a video that went viral a couple of weeks ago. I posted on it earlier, but thought it was worthy as a companion piece to the Jon Stewart piece above.
This is a quick, animated explanation of so-called quantitative easing delivered with a quirky computerized Eastern European syntax. Goldman Sachs and Fed Chairman Ben Bernanke are skewered herein so be warned if you hail from the mighty GS or the Fed :
Source: You Tube
As one of my commenters pointed out the first time I posted this video, it could be viewed as a bit misleading because QE2 is absolutely, positively not printing money. I agree it was not positioned that way, but in light of the Stewart video is does look as if Bernanke is the one being misleading, doesn’t it?
No matter what you call it, I really don't think the Fed should be toying with our financial system. We are in a mild economic recovery and, in my view, they should just stop. Their tinkering is just decreasing confidence in the system.
Hat tip: The Business Insider for the Jon Stewart clip
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The Fed is our financial system… They can pretty much do as they please…
Kurt Brouwer is a fee-only financial advisor with three decades of experience. He is the chairman and co-founder of Brouwer & Janachowski, LLC. Kurt has written books, articles and hundreds of blog posts on mutual funds, ETFs and other investment topics. E-mail: kurt.brouwer *at* gmail.com.
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