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April 1, 2013

Bernanke Breaks Down: "This Whole Thing Is A Kleptocracy"

Asked a question about the wealth effect, Bernanke paused and said,

"The wealth effect. Ah, right." He then smiled faintly and shook his head. "You want to know about the wealth effect? Well, I'll be candid with you.This whole thing is a kleptocracy--the financial system, the political system, it's one big kleptocracy. That's the real wealth effect." -- Guest Post:| Zero Hedge

Posted by gerardvanderleun at April 1, 2013 1:34 PM. This is an entry on the sideblog of American Digest: Check it out.

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