Bernanke To The Rescue

The markets bobbed and weaved a bit yesterday but Fed chairman Bernanke’s nomination for a second term cheered traders, who are now looking for more economic stability and growth.

I must be one of the few who is not impressed by Bernanke’s resume, especially due to the fact that he never saw the housing bubble and subsequent recession coming, but is now predicting that better times are ahead. It reminds me of the (former Treasury chief) Paulsen speech early last year announcing on several occasions that the U.S. banking system is sound. Yeah right.

If you are not familiar with Bernanke’s recent history, take a look at this video clip on YouTube send in by an anonymous reader.

I continue to be very hesitant in believing that these alleged economic green shoots will ever grow into Redwoods. My investment outlook remains guarded, and all of my positions have clearly defined exit points in place.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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