Bernanke, You Stupid B%#%^*d
And Trichet, and the rest of the Central Bank fools.
But especially you, Bernanke.
There's dumb and then there's really dumb. Let's take a short walk back down history lane.
You were sure there was no housing bubble.
Then you were sure it wouldn't pop.
Then you were sure when the subprime problem hit, that it wouldn't cause a recession.
Then you were sure you had it under control with Bear Stearns' hedge funds.
Then you were sure you had it under control with Bear Stearns itself.
Then you were sure it was under control with Lehman, even though you had to know Citibank and others were refusing their collateral in the repo market.
You were sure QE would support higher bond prices - and lower yields. The exact opposite thing happened.
You were sure QE2 would suppress long end yields. The exact opposite thing happened.
Oh yeah, you made excuses both times, but in fact you publicly said that in both cases the exact opposite thing would happen that did.
Now let's look at what happened just today...
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