Prof. Michael Hudson - Deepening Debt Crisis: The Bernanke Reappointment: Be Afraid, Very Afraid

(Global Research):
Prof. Michael Hudson - Deepening Debt Crisis: The Bernanke Reappointment: Be Afraid, Very Afraid

If the economy deteriorates in the L-shaped “hockey-stick” rut that many economists forecast, what political price will President Obama and the Democrats pay for having returned the financial keys to the Bush Republican appointees who gave away the store in the first place? Reappointing Federal Reserve Chairman Ben Bernanke may end up injuring not only the economy but also the Democratic Party for years to come. Recognizing this, Republicans made populist points by opposing his reappointment during the Senate confirmation hearings last Thursday, January 27 – the day after Mr. Obama’s State of the Union address.

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