The Fed shocked the world again with the astonishing news of helping JP Morgan buy Bear Stearns. The Fed chairman has been criticized for intervening too much in this recession-bound economy. A 1970-styled stagflation has been forecast in the media for quite a while. I used to think like that, but now started to change my mind. Given his actions and knowledge of the Great Depression, I believe Ben Bernanke doesn't think the stagflation is coming. Instead, he is preparing for a 1930-styled depression. The question is how bad it is gonna be.
(Picture: princeton.edu)
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