Forbes: Bernanke Should Lose Job

" is Ben Bernanke on the way out of barbarism of this question. How old the government deal with a ballooning deficit that's another good -- will spending and borrowing ever stop all the questions just keep coming. Who let that -- Steve or. Joining us right now in fact. They welcome the program good to have you back as a -- be with you Stuart thank you would you and and by the way I have read the bulk of the -- about to tell our viewers about. Ally and ambition and power. That is power ambition and Laurie Steve congratulations. -- I have read it. And for those of you who want to -- I will recommend it because it's all about historical figures. What happened to them and that rubble relevance to business leaders today stay congratulations great book again thank you thank you very much -- Ben Bernanke would you reappointment would not let's what the Fed. No Stuart I'd appoint you. That. There are other there are other good ones out there like David now that's Brian Wesbury and others who understand monetary policy. And do far better job than mr. Bernanke's done. He made a hash of it several years ago by. And it continued to print too many dollars you did not handle this crisis very well. And of course in Washington when you mess things up. They give you more power of like the private sector that you realize the that if you don't appoint Fed Chairman Bernanke to another to you're probably going to get Larry Summers has spent -- what would you say that -- Well I think -- Larry Summers or. Geithner the Treasury Department at all happy go to a senate hearing. At confirmation hearings and they can be grilled on what their attitude is on monetary policy. What they believe and a strong and stable dollar John Kennedy did Bill Clinton did Ronald Reagan did George Bush did not and maybe that kind of debate would get the Federal Reserve System realize that if you don't have a strong and stable dollar. You're gonna still have a troubled economy okay. I want to refer you to something to Warren Buffett said yesterday I don't list -- conducted a lengthy interview with mr. Buffett doing which. Mr. Buffett said that Obama is the best man for his time we've got a sound like listen to those four as witnessed it."

" As you look at all that's happened. Do you still endorse him with as much enthusiasm as he did during the election a 100%."

" John Kelly I think he is exactly the right president for this country. At this time heard any other time but we're lucky we elected him. Well -- have one of the world's great capitalists endorsing Barack Obama as president on the job that he's doing you one of the world's great capitalists what do you think. Well I'll go Warren Buffett's stock recommendations especially those shrewd investments he made in Goldman Sachs from their -- in their backs a few months ago. When it comes to politics. There I would have profoundly disagree. Present Obama not yet has exhibited any real understanding of what makes commercial society work. The importance of incentives the importance of innovation and entrepreneurship. NBC universal health care debate. He says he wants to have affordable health care more healthcare -- best way to do that. Is for both the shackles on the healthcare market put patients in charge and we'll get productivity. We will get more -- as we do in the rest of the economy. I just what he'll comment on a concern that many about viewers have expressed and that's about the enormous spending. Of the federal government and the incredible borrowing. The consumer loan from a lot of our view is is there's no exit strategy for this there's no sign that is going to wind down of the live -- a retreat at all what's your comment. Well they're absolutely right this administration does not care about finances. They want to get these really semi socialistic -- socialistic programs and whether -- cap and trade forced unionization big tax increases and nationalizing health care. They figure they'll have worried about the cost later they have an agenda than not to let little things like money stand in the way. So there is no exit strategy. They want to get this thing and don't worry about the money later leave it to the future administration. Is your forecast big time inflation just down the road and a rise in interest rates and a flat economy. Well we may get a flat economy the Fed doesn't get its act together and we don't defeat some of these things like nationalizing health care but in terms of inflation. I think the markets are strong enough today that the Fed really start to print money again. The bond markets are going to react adversely. And say no you're gonna pay a very high interest rates in the going to -- to retreat. I remember James Carville Bill Clinton's a political adviser. Who wants remark ruefully he said he's ever reincarnated he wants to come back as the bond market. He knows that calls the shots of these things not the -- White House. Stiefel is always a pleasure congratulations on -- new book I'm sure I will you do well I've read -- ladies and gentlemen you are genius that I doubt it I think there really isn't good Steve and I'm I'm serious I would never say that I haven't read it I've read it and good. Gripping stuff. Thank you very much vehicles."