re: In honor of Ben's last FOMC meeting, let's appreciate Bernank the Tank

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I Love Bama

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Wow... I actually wasted 15 minutes of my life reading that article.

So his whole argument is that Bernanke has made the dollar plummet. Let's just say for fricks sake that a weak dollar is horrible as he states, at the end of Bernanke's first year as Fed president the dollar index was 83.92. It's sitting at 81.25 right now, which is an annualized 0.54% depreciation a year. That is half of what the average annualized drop in the dollar index has been over the previous 50 years. The dollar index is actually higher than it was before the easing programs. Also, the volatility of the DXY over the past 3 years throughout his easing programs has been insanely low, I'd have to go back over 25 years to find an era like this, which makes the author's claim that Bernanke has failed at the price stability mandate kind of outrageous.

I don't really want to get into the international finance portion of strong versus weak dollar because this is a Ben appreciation thread. If you want to shite in here start another thread or follow my program in the OP.