Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.
http://www.calculatedriskblog.com/
Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hurt Obama's re-election chances.
The Republicans are also prepared to raise taxes in order to keep money out of the economy, and are conditioning any disaster aid to other budget cuts - the goal being to avoid injecting any money whatsoever into the economy.
I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....
Originally posted by Kunsoo Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.
http://www.calculatedriskblog.com/
Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hu ...[text shortened]... /2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb
Do you think that Bernanke would ever be honest enough to concede that the entire debt crisis is on the FED? Yes, we inflated the money supply, created a bubble, which burst. Sure that's really likely.
Originally posted by Kunsoo Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.
http://www.calculatedriskblog.com/
Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hu /2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb
Originally posted by Kunsoo Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.
http://www.calculatedriskblog.com/
Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hu /2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb
Originally posted by Hugh Glass I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....
The Fed has two tools for stimulation, both of them distort market forces and are ultimately destructive. The first, lowering interest rates below market levels can't be done, because they're already rock bottom.
That leave inflating the money supply which ultimately devalues every other dollar out there, and harms everyone, especially those with fewer of those dollars.
They find themselves behind a rock and a hard spot now.. I still can't believe the Liberals blame the Tea party for the debt ceiling crisis and our credit downgrade? hell if they had done more to control spending the credit rating would still be AAA.
But all they want to do is spend and tax, it's ingrained in their minds, tax the rich, well the figures show taxing the rich is not going to be enough.....
What they really need to do, is find a way to bring the consumer confidence level back up...... the people are sitting on every dime they have right now... watching the governments next move. This will be a long one I am afraid...
Originally posted by Hugh Glass I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....
Originally posted by Hugh Glass They find themselves behind a rock and a hard spot now.. I still can't believe the Liberals blame the Tea party for the debt ceiling crisis and our credit downgrade? hell if they had done more to control spending the credit rating would still be AAA.
But all they want to do is spend and tax, it's ingrained in their minds, tax the rich, well the figures s ...[text shortened]... y have right now... watching the governments next move. This will be a long one I am afraid...
The problem is that there are two forms of taxation, and it is only popular and tolerable to advocate taxing the rich more. That is not anywhere near enough to satisfy the appetites for spending, so the other taxing method is utilized, that of inflating the money supply.
This works only because most of the poor and middle class who are hit with it directly are ignorant of how inflated prices happen. And it may not happen immediately, so the cost and effect are often separated in time, so that the marks remain in the dark.
What the Fed does is tantamount to counterfieting.
Originally posted by normbenign The problem is that there are two forms of taxation, and it is only popular and tolerable to advocate taxing the rich more. That is not anywhere near enough to satisfy the appetites for spending, so the other taxing method is utilized, that of inflating the money supply.
This works only because most of the poor and middle class who are hit with it dir ...[text shortened]... ime, so that the marks remain in the dark.
What the Fed does is tantamount to counterfieting.
Do you think repeating nonsense over and over and over and over again transforms it from nonsense to fact?
Originally posted by Hugh Glass They find themselves behind a rock and a hard spot now.. I still can't believe the Liberals blame the Tea party for the debt ceiling crisis and our credit downgrade? hell if they had done more to control spending the credit rating would still be AAA.
But all they want to do is spend and tax, it's ingrained in their minds, tax the rich, well the figures s ...[text shortened]... y have right now... watching the governments next move. This will be a long one I am afraid...
I agree. Had the liberals stood up to Bush on the Iraq war in particular, and opposed the tax cuts, we'd be in much better shape.
Originally posted by Hugh Glass I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....
California, at least the coastal regions, are doing just fine. Traffic is up again in the Bay Area. It would be better spent in the midwest with what's left of the industrial belt.
Originally posted by normbenign Do you think that Bernanke would ever be honest enough to concede that the entire debt crisis is on the FED? Yes, we inflated the money supply, created a bubble, which burst. Sure that's really likely.
Not far enough, many of us were active participants in creating that bubble. We got greedy and lived on borrowed time and money. The economy has to shrink before it can grow again.
Originally posted by badmoon Not far enough, many of us were active participants in creating that bubble. We got greedy and lived on borrowed time and money. The economy has to shrink before it can grow again.
Originally posted by AThousandYoung CA is doing fine.
ya, most of the retirees have found their way out of that state to oregon now,,, they'll be ok, no danger of losing their pensions, but the rest of you,, eeeck!!!
Oh and how about leting some of those salmon smolt get back to the ocean before you irrigate that dry dust bolw. The chinook population suffered terribly from your last water grab.... maybe you guys had better start wondering where your water will come from in the next few years hey..? Mead is drying up, there goes your power.
Bernanke - more stimulus needed
26 Aug '11 15:53
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