Peter Schiff: ‘Reckless’ Bernanke is Fueling Next Crisis

[bobbyw24]

Federal Reserve Chairman Ben Bernanke has guided the central bank to “reckless,” inflationary policy that is depressing the economy, says Peter Schiff, CEO of Euro Pacific Capital.

The Fed has lowered its predictions for GDP growth to 1.6-1.7 percent this year from 2.7-2.9 percent previously, and to 2.5-2.9 percent next year from 3.3-3.7 percent previously.

"You might call it over propaganda," Schiff tells Yahoo. "I think the U.S. economy is getting worse, and the Fed is constantly having to ratchet down its previous expectations."

http://www.moneynews.com/StreetTalk/Schiff-Reckless-Bernanke-Crisis/2011/11/04/id/416852

[wgadget]

Well, then, I say thank you, Ben Bernanke, for making Ron Paul's Presidency all the more viable.

[swirling_vortex]

To me, it's much more of an indication that the Fed has basically run out of ideas. Here they were, touting about all of the economic research that had went into preventing bubbles and now all they can do is make predictions, bail out banks and throw some QE at it (which is also not working).