"Chairman Bernanke, in his speech at London in January (2009), said “the global economy will recover.” He did not say how he knows. And the truth is, this is merely a statement of faith."
—
Economist James K. Galbraith before the Committee on Financial Services, U.S. House of Representatives, Hearings on the Conduct of Monetary Policy, February 26, 2009
September 07 2012… Associated Press
Experts Warn of ‘Perfect Storm’ For Global Economy
Meanwhile:
“I’ve spent 25 years in this room yelling ‘Buy, buy! Sell, sell!’ and for what?” longtime trader Michael Palermo said. “All I’ve done is move arbitrary designations of wealth from one column to another, wasting my life chasing this unattainable hallucination of wealth.”
“What a cruel cosmic joke,” he added. “I’m going home to hug my daughter.”
Business
U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion
February 16, 2010WASHINGTON — The U.S. economy ceased to function this week after unexpected existential remarks by Federal Reserve chairman Ben Bernanke shocked Americans into realizing that money is, in fact, just a meaningless and intangible social construct.
What began as a routine report before the Senate Finance Committee Tuesday ended with Bernanke passionately disavowing the entire concept of currency, and negating in an instant the very foundation of the world’s largest economy.
