Submitted by Charles Hugh-Smith of OfTwoMinds blog,
Bernanke’s legacy: a deceptive case for a failed policy.
Sophistry: the use of fallacious arguments, especially with the intention of deceiving. The Federal Reserve’s core policy of quantitative easing (QE) is based on a deceptive but appealing argument voiced by former Fed Chair Ben Bernanke.
Longtime correspondent Harun I. explains the fallacy of Bernanke’s case for QE.