Clown world: Ben Bernanke awarded nobel prize in economics

A CFR report, so you know the numbers are way off:

The strike was the last under Obama (that we know of). The 542 drone strikes that Obama authorized killed an estimated 3,797 people, including 324 civilians. As he reportedly told senior aides in 2011: “Turns out I’m really good at killing people. Didn’t know that was gonna be a strong suit of mine.”
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If that's what it takes to earn your preemptive peace prize, you can imagine the kind of havoc you have to wreak to an economy these days.
 
beat me to it!

https://www.msn.com/en-us/news/us/b...pc=W022&cvid=90be1d4ccb874fc0b429275252ede3ce

The Royal Swedish Academy of Sciences in Stockholm said research published by the three Americans in 1983 and 1984 provided a new understanding of the role banks play in making the economy work and causing it to plunge into crisis.

“Their discoveries improved how society deals with financial crises,” the committee said, crediting the academics for showing policymakers it is critical to prevent banks from failing.
 
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Pauls' Revere said:
“Their discoveries improved how society deals with financial crises,” the committee said, crediting the academics for showing policymakers it is critical to prevent banks from failing gravity from working.
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Fixed it for them.

They should just rename the "Nobel Memorial Prize in Economic Sciences" to the "Nobel Memorial Prize in Science Fiction".
 
The timing is certainly obvious. Currencies are set to fail all around the world, and the Nobel committee just happens to throw its credibility (what's left of it) behind the fairy tale that we actually need big banks.

Not much doubt what comes next...

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That's almost as bad as Obama being awarded the nobel prize even though we didn't have one day of peace during his entire presidency.
 
Bernanke's Sordid Nobel Prize
Dr. Bob Murphy and Jeff Deist discuss the nauseating elevation of former Fed Chair Ben Bernanke to Nobel Prize winner.

00:00 Introduction

01:26 The Nobel Prize in Economics

06:57 Bernanke's Time at the Fed

18:13 Bernanke's Contribution to Monetarism

23:17 Bernanke and the 2008 Crash

36:47 Changes in Fed Policy since Bernanke

41:09 Who Should have gotten a Nobel in Economics?
​

https://odysee.com/@mises:1/bernanke's-sordid-nobel-prize:f
 
He deserves an award for "print till your eyes bleed"? They're getting pretty lax in Nobel territory these days. Recall that Ben Shalom was a student of Great Depression history. His award is for repeating the conditions that led to the first one but in modern times.
 
Ben Shalom Bernanke is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Fed, he was appointed a distinguished fellow at the Brookings Institution. He is regarded as an early proponent of the "Money Printer Go Brrr..." school of economic thought, and was awarded the No-Prize for Anti-Economic Principles in 2022.
 
Swordsmyth said:
This wrong:

Oxfam Says Two-Thirds Of New Wealth Went To Richest 1%

https://www.thefinancialtrends.com/2023/01/17/oxfam-says-two-thirds-of-new-wealth-went-to-richest-1/
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Setting aside the source is a communist propaganda organization, it should be pretty obvious the wealthiest lost huge last year.

It was a the worst year ever for a portfolio of stocks and bond. There wasn't a hiding place for money.

As a group, the planet’s billionaires have lost $1.9 trillion in 2022, according to Forbes’ estimates, with their collective wealth dropping from $13.8 trillion on New Year’s Day to $11.9 trillion on December 9. The number of billionaires has fallen too, from 2,671 to 2,523, per Forbes’ real-time tracker, as high-profile moguls like Sam Bankman-Fried, Kanye West and Rivian founder RJ Scaringe have dropped from the ranks.
No one has been hit harder than the world’s 300 or so tech billionaires, who have collectively lost more than $1 trillion in 2022. After a raucous couple years when the pandemic boom and overeager investors drove up tech stocks and startup valuations, things have plummeted back to Earth. Companies are slashing costs, laying off workers and pulling IPOs. Shares of Amazon have cratered by nearly 50%, helping knock more than $80 billion off founder Jeff Bezos’ net worth. Google-parent Alphabet’s stock is down 36%, lopping more than $40 billion apiece from the fortunes of cofounders Larry Page and Sergey Brin. Microsoft stock has slid 27% through December 9, denting the riches of cofounder Bill Gates and former CEO Steve Ballmer, though Gates’ bad year is mostly his own doing: This summer, he made a $20 billion gift to the Bill & Melinda Gates Foundation. Mark Zuckerberg, who Forbes categorizes as media & entertainment, is some $78 billion poorer this year, as shares of Facebook-parent Meta Platforms have fallen by 66%.
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https://www.forbes.com/sites/chasew...-2-trillion-poorer-this-year/?sh=3d8b2b7a41e4
 
Krugminator2 said:
Setting aside the source is a communist propaganda organization, it should be pretty obvious the wealthiest lost huge last year.

It was a the worst year ever for a portfolio of stocks and bond. There wasn't a hiding place for money.
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1. They did it to themselves. Or, at least, they ain't lying when they said Bill Gates' bad year is mostly his own doing. Gates may have cost his cronies a lot of money, but I'm sure he came out ahead, if deductions to his own "charity" are rightfully counted as investments. He needs to be separated from those gains; it's a long-standing tenet of law that murderers aren't entitled to profit from their crimes.

2. They can still afford eggs.
 
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