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IPFS News Link • Federal Reserve

Julian Robertson: Bernanke Is Santa Claus And We're All Celebrating Denial

Here's what Julian Robertson had to say about the U.S. and its debt, according to The Australian: "We are obsessed with not doing anything about it." "We are broke, broker than all get out... We prefer to put on the Santa Claus suit and celebrate Christmas." Quantitative easing was encouraging reckless spending. So investors bought "not just gold and silver but cotton, soybeans, you name it, they're all rising. The US dollar is now no longer the safe haven it was -- "It's not my refuge." The US approach to rectifying its financial problems is making it look as though "things will go along OK" when they would not, in the long run.