This is not fake news or some Deep State prophesy by me on my blog.
Ben Beranke is a Republican. He succeeded Alan Greenspan as the chair of the Federal Reserve. Greenspan was appointed by Reagan and Beranke was appointed by Bush 43 and served two terms as Fed Chair from 2006-2014.
Beranke was in charge during the financial collapse in 2008 which occurred under the watch of Bush 43. To Barack Obama’s credit when he became president he was smart enough to work with Beranke and give some continuity to policies which stabilized the economy.
Unlike the current POTUS who now runs his reality television show from the White House, Obama didn’t threaten or publicly embarrass his Fed Chair. Obama, unlike the orange-haired reality television star, understood there is some nuance required in dealing with monetary issues and the markets.
Beranke was succeeded by Janet Yellen who was succeeded by current Fed Chair Jerome Powell.
This video above is Ben Beranke giving his very brief take on the current situation in our country from a view of a former Fed Chair.
I would add this since this is Oklahoma and the collapse of the oil industry will make the situation in Oklahoma even tougher than for the rest of the union… the oil collapse wasn’t from the virus, it was brought on by the Saudis and Putin. A very bad perfect storm for Oklahoma. And this fact must be noted in Oklahoma as I think what we’ll see here hopefully won’t be a complete replay of the Penn Square collapse in the early 80’s, but will be much tougher in Oklahoma specific than the rest of the country because of a regressive state government and a shaky educational system.
Real estate values in Oklahoma would be my first marker to follow closely in the coming months and then of course businesses which go under as a result of oil possibly going below the $10 a barrel bench mark.
Upon further evaluation I’d wait to buy Continental Resources at $5 dollars a share or even lower. In some market locales the price is already under the $10 dollar benchmark.
In closing, ignore what the current POTUS is saying in regards to the Easter date reopen nonsense and make very cautious smart decisions based on the advice from experts like Dr. Fauci.
Oklahoma probably as much as any state in the Union is in for a very tough road back. Very tough. Staying home another two weeks isn’t going to change that fact.
Ignore the POTUS and heed the advice from the experts. Even Trump surrogate Governor Kevin Stitt is trying to tell you this by his most recent decisions.
Be exceedingly kind to others and be an ambassador of the Golden Rule every day as we work our way back through this disaster.