Bernanke says he does not understand Gold. What about Tesla ?
For a company that expects to sell 21,000 cars a year, its market capitalisation has surpassed Mazda which sells 1.3 million cars a year.
- BERNANKE SAYS GOLD `IS AN UNUSUAL ASSET’
- BERNANKE SAYS SOME SEE GOLD AS DISASTER INSURANCE
- BERNANKE SAYS `NOBODY REALLY UNDERSTANDS GOLD PRICES’
- BERNANKE: GOLD MAY BE LOWER ON LESS CONCERN OF EXTREME OUTCOME
Taken from Zerohedge
But Bernanke does not know this.
“LOS ANGELES—A strange glow in space has provided fresh evidence that all the gold on Earth was forged from ancient collisions of dead stars, researchers reported Wednesday.”
I guess alchemists have something to chew upon.
“Such flashes are thought to occur in the Milky Way about once every 100,000 years. Berger said it’s unlikely another will happen in our galaxy in our lifetime.”
Bernanke also said that student debt is not likely to create to cause macro economic problems for the economy. Just as Federal student loan debt has topped $1 trillion, the Consumer Financial Protection Bureau will announce Wednesday, a milestone that will only intensify the debate in Congress over what to do about student loan interest rates.
May 2013 Ben Bernanke “Nobody can ever say with certainty what an asset price should be, but to this point our sense is that major asset prices like stock prices and corporate bond prices are not inconsistent with the fundamentals,” he said in testimony in Washington today to the Joint Economic Committee of Congress.
May 2005, Greenspan said in a speech that he did not believe there was a national housing bubble similar to the bubble in the stock market.
Robert Schiller of the Case-Schiller Housing Index fame wrote a piece Bubbles Forever 2 days ago.
“A “speculative bubble,” I wrote then, is “a situation in which news of price increases spurs investor enthusiasm, which spreads by psychological contagion from person to person, in the process amplifying stories that might justify the price increase.” This attracts “a larger and larger class of investors, who, despite doubts about the real value of the investment, are drawn to it partly through envy of others’ successes and partly through a gambler’s excitement.””
The S&P broke record highs, intraday yesterday just as Morgan Stanley downgraded their forecast for US GDP growth, Tesla is rose back up from their faux crash after Goldman downgraded the valuation a couple of days back. And Detroit is going to file for bankruptcy and Bernanke does not know ?
Looks like Bernanke does not understand a lot of things.
- Goldman Sachs bursts Tesla’s bubble (bizjournals.com)
- Loki ? Bernanke ? Who’s The God ? (tradehaven.me)