Good news, even Jon Stewart thinks Ben Bernanke is funny.
Not funny ha-ha, but funny oh-crap. Below is a clip of Jon Stewart eviscerating The Ben Bernank with his own words. Recently Bernanke gave a 60 minute interview which he blew smoke up people's asses and got away with it. Since we no longer have any real journalists left in this country, Stewart decided to tackle the subject by himself. Now there are a few problems with this clip, but overall Stewart is on the right track. First, it is possible that Bernanke is actually telling the truth about the latest round of bond purchases as not actually having to print money. This is because the reserve bank holdings are gigantic, they are now exceeded over a trillion dollars. This is money that is collectively shared within the Reserve system among the 12 regional reserve banks. Normally when the economy is humming along and credit is being dispensed liberally (think dot com bubble, real estate bubble) the reserve moneys are under 100 billion - right now they are over one tri