Helen Keller once said.."The only thing worse than being blind is having sight but no vision" Therotically there can be something even worse and of course its "Neither sight not Vision". As far as bubbles are concerned i think Central Bankers are in that category.
They may be the best Scholars of their time. Highest marks in academic career. May have written big books that no one understand.. But bubbles which are infact unclaimed childs of Central Banking policies can never be seen by them ..Hence they can be safely placed in "Neither Sight Nor Vision" category atleast for Bubbles..
Last week India's central Bank Governor Subba Rao claimed that there is no Housing Bubble in India. Prices have surged up by 1000%. In few cities and the whole mania has exact bubble characteristics. But this dude don't See it... He has no clue that When it bursts how sloppy his statement and how idiot he will look. This may sound rude but it's my honest opinion and I guess I have full rights to express same.
http://www.business-standard.com/article/economy-policy/subbarao-says-no-housing-bubble-building-up-113050600390_1.html
Formally there has been a proven track record of Bubble Blindness in Central Bankers With Alan Greenspan And Ben Bernanke left with no option but to admit that they could not see it.. (Thanks to electronic Media that capture exactly what they said how they said)
Enjoy this ..
They may be the best Scholars of their time. Highest marks in academic career. May have written big books that no one understand.. But bubbles which are infact unclaimed childs of Central Banking policies can never be seen by them ..Hence they can be safely placed in "Neither Sight Nor Vision" category atleast for Bubbles..
Last week India's central Bank Governor Subba Rao claimed that there is no Housing Bubble in India. Prices have surged up by 1000%. In few cities and the whole mania has exact bubble characteristics. But this dude don't See it... He has no clue that When it bursts how sloppy his statement and how idiot he will look. This may sound rude but it's my honest opinion and I guess I have full rights to express same.
http://www.business-standard.com/article/economy-policy/subbarao-says-no-housing-bubble-building-up-113050600390_1.html
Formally there has been a proven track record of Bubble Blindness in Central Bankers With Alan Greenspan And Ben Bernanke left with no option but to admit that they could not see it.. (Thanks to electronic Media that capture exactly what they said how they said)
Enjoy this ..
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