Thursday, December 3, 2009

What About Global Bubbles? Bernanke Says The US Sets its Own Policy; Other Countries, It's Their Own Problem

BNN aired a segment of Ben Bernanke at the Senate meetings today around 10:35AM. He was asked about the effects of the low US dollar and the creation of bubbles around the world. In fact, Roubini was mention as the source of the potential problems.

In his own words, Bernanke answered that the U.S. is concerned with its own monetary policy, and other countries it's their own problem. They can address their problems with their own tools. He neglected not mention that the US Dollar was the global reserve currency... Or used to be.

So, it was a very clear statement that other other countries be damned.

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