Visit Mish's Global Economic Trend Analysis

Bernanke Blames Saving Glut For Housing Bubble

Posted on June 03, 2008

In yet another long winded and self serving speech, Bernanke blames everyone but the Fed for the housing and credit bubbles. Not once did he mention interest rate policy at the Fed. However, he did blame foreign investors and the global savings glut for contributing to the problem.Given there were no highlights, let's tune into the lowlights from Bernanke's Remarks on the economic outlook at the International Monetary Conference, Barcelona, Spain.In the financial sphere, the three longer-term developments I have identified are linked by the fact that a substantial increase in the net supply ...

Original article link


bernanke , currency , deficit , economy , fed , federal reserve , foreign exchange , housing , housing bubble , inflation , interest rates , money supply , oil , the fed