Heed the Warnings of the Three Bears

Here are economic warnings from three big bears.

These folks have been telling us for years that our economic policy would lead the Fed to "bail out" the system with massive doses of liquidity and lower interest rates.

Now, the Fed is trying to walk a tightrope, making policy choices to try to keep the economy on the right course. Policymakers are trying to avoid deflationary collapse on the one hand, and hyperinflation on the other.

The three bears are not optimistic. ...