Reputable Experience

Posted: October 18, 2015 in Economics
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“In her magical mystery world at the Eccles Building (Fed HQ) Janet Yellen surveys all of this.  She has never run a business.  She has never even had a job in a profit-making business…..  Bernanke, in his new book, The Courage to Act, tells us that he ‘did not want to be remembered as the person whose decisions had led to the Fed’s destruction.’  That’s right: The biggest challenge hits the Fed in 80 years and Mr. Bernanke is worried about his own reputation!” -Bill Bonner

Perhaps this is the biggest problem with many of our institutions and politics.  We have leaders with no experience in the real world and care more about their reputation than doing what needs to done.

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