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More voodoo economics - Ben Bernanke

Anonymous Coward
08/27/2005 03:10 PM
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More voodoo economics - Ben Bernanke
He thinks the problems with our economy is caused by the fact that people in other countries save too much money.

(I hope the link isn´t too long - GLP needs a preview screen.)

[link to news.yahoo.com]

Ben Bernanke, who recently left the Federal Reserve Board to serve as President Bush´s top economic adviser, has argued that the problem is not with the United States. The trouble lies overseas, where people want to save rather than spend their money. The key is to encourage other countries to spend and invest more, he says, though he also believes that the federal budget needs to be balanced.