Fed’s Bullard: Assset Bubbles Are ‘Blindingly Obvious’

Fed's Bullard: Bubbles Are "Blindingly Obvious" (ZeroHedge)

In a stunning series of lies, damned lies, and twisted statistics, the Fed's Jim Bullard unleashed a torrent of self-agrandizing comfort-speak on CNBC this morning. From his comment that "bubbles, such as housing and dot-com, were blindingly obvious at the time," despite Bernanke's (and Greenspan's) insistence at the time that they were not to his comments about the size of Fed Treasury holdings (and monetization) as being "average" based on some statistic, the Fed president gave himself one more out as he admonished:

    *BULLARD SAYS FED DOESN'T WANT TO SUPPORT 'FISCAL RECKLESSNESS'

Oh no, you'd never want to do that... With an administration lying to the American people's face over Obamacare and now the even more powerful Fed incapable of the truth, what hope is there that anyone gets out of this debacle in tact.