While Bernanke may be correct in his assumption that his policies of 2008 and 2009 prevented a deeper contraction in the early months and years of the recession, he can't claim that those policies are producing lasting benefits. Certainly our listless economy would suggest otherwise.
I believe that absent Fed activism four years ago we would have gone through a shorter, sharper contraction, and we would now be on the road to a real recovery. But this is a possibility that Bernanke and his supporters will never dare to entertain.
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.