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I'm going with the economic imbecile. He's got to stop with this QE bullshit. He's making it worse with each QE. !?#$%@*&?!
But what he is doing seems so obviously wrong, is their (cue the conspiratorial sound) some kind of hidden, nefarious agenda.
No, no, no. All is well (http://www.youtube.com/watch?v=zDAmPIq29ro).
It's different this time. Before Bernanke was only confident. Now, he's 100% certain. How can you argue with that?
yes! How can you doubt the Shining Path of Chairman Bernanke?
Has he not routed the forces of Depression and Decay?
With the glorious leadership of the Great Helmsman in the vanguard can there be any doubt of his resolute victory over the hegemonist Assange and his running dogs at ZeroHedge????
Welcome to the revolutionary vanguard, comrade!
Indeed, all good citizens eagerly await the cultural revolution of blind devotion to our glorious unelected Chairman, and the imminent "Great Leap Forward" to a world based strictly on paper promises and a reality based only on the pronouncements of our noble and omnipotent leaders. Let one thousand paper flowers bloom!
Plus, our glorious Chairman's "Little Red Book" is SO much better than that other guy's! His only had a red cover, but our glorious Chairman's is written ALL in red ink!
And yet, in Benron's world '08 was a black swan. Makes you wonder what black swan he won't see coming next.
The drapes were closed on the windows of his Ivory Tower.
He's too immersed in the Ponzi to know that he's in the Ponzi.
He's the fool that doesn't know he's too stupid to be doing what he does.
He's the frog turning up the heat on his own pot.
"I'm going with the economic imbecile. "
I go with puppet of a small elite. Nobody with his training can be that stupid about the economy. However I do find his complacency about torches and pitchforks remarkable.
right - the "elite" being the brain-surgeons inside Beltway & Manhattan; some of the Beltways are actualy deluded enought o think they can get a grip on this this and "save" the country, while the Skyscrapers are simply stealing everybody else blind. But they need each other, and the real Power is in the money-centers. Poor slobs like the bernank just do what they're told. So what if he blows a gasket due to inner conflict? Find somebody else.
"Nobody with his training can be that stupid about the economy."
So that excuses him from being stupid from time to time? All his training is failing him right now. Nobody knows what to do at this point. Bernank, with all his training, is in a spot that never came up in the textbooks, the lectures, the computer models. He does know that QE is not working, and in continuing to print ever more money and releasing it to the banks, in that regard he is working for an elite few who want all the money.
Once we accept the fact that all the flurry of activity has but one purpose, the "recapitalizing" of the banking cartel, then all becomes clear. There is no goal of amelioration of employment, inflation, "prices", or anything else. The focus is on filling the black hole of bank reserves/balances. Period. All else is theater.
Worse for who?
The guy is either an economic imbecile – or, more likely – he is working for an elite few
I'm going with the economic imbecile.
I'm going with the economic imbecile.
After seeing that 60 minutes gig, I am going with useful idiot.
not even gold, silver or copper can help here, the monetary system as we know it is over ... it was a fun ride popping bottles on the G6.
Fiction: The Ben Bernank told Congress he would not monetize our debt.
Fact: The Ben Bernank has a $600B Kill the Dollar Bill prgram, in addtion to the other trillions he has spent to support the banks.
Fix: END BEN AND THE FED.
fix: END BEN AND THE FED.
this could be good...
Looking forward to that as well as the reading out of Europe tomorrow on the bank run. Would be awesome if they set up a public shooting range on the Mall as a living, breathing and "smoking" tribute to the Second Amendment. Bet they could raise some pretty good federal fees, too.
It smells of a planned cyclical rebirth. A pre-planned Fed's death with a mock funeral dirge.
Hyperinflation will not pay our debts. The bankers won't take pennies on the dollar. Ain't happenin'.
It is easier to revalue the dollar or deflate. No one is going to free the debt slaves.
And no, Bernanke is not an imbecile, he is working for an elite few.
No one is going to free the debt slaves.
Luckily for me, it's an unwanted consequence of the plan to take over the world.
+1 hyperinflationary jubilee.
If you plot log(price_of_gold) versus time, 2001 - present, it's a straight f-ing line. Since when do markets move in straight lines?
Looks like a controlled demolition to me.
Debt and Consumerism have a symbiotic relationship.
We're all living in America,America is wunderbar.We're all living in America,Amerika, Amerika.We're all living in America,Coca-Cola, Wonderbra,We're all living in America,Amerika, Amerika.
This is not a love song,this is not a love song.I don't sing my mother tongue,No, this is not a love song.
We're all living in America,Amerika is wunderbar.We're all living in America,Amerika, Amerika.We're all living in America,Coca-Cola, sometimes WAR,We're all living in America,Amerika, Amerika.
The only way it will be reset is when the sheeples finally say enough. Gonna take a while, but it will happen.
I bet we will soon see the Bernank have a Saakashvili tie eating moment.
we were screwed in the 1970s when we validated Hubbert's Peak forecast.
Once that happened, within a couple of years our economy was in collapse, our currency in collapse. Raygun came in and made deals with the ME nations, including trading arms to Iran (that revolution came in handy for us to break a united ME front), and we made our economy into the world economy via petrodollar inflation. Now, the world is at peak; we will repeat the 1970s experience.
The 70's ain't got nutin' on this one. US peak production will pale in comparison to world peak production. With no swing state to manipulate the price, it will be eryone for themselves. Soon to be only two things people want....."Black and Yellow...."
"I hear dey scared of it but them pros ain't."
"I hear dey scared of it but them pros ain't."
I say go ahead and bring on the reduced oil production. Enough exporting weath to ME nations. Instead, drive production in Bachen and other national sources known. Bring it...for in the end I do not beleive a shortage of oil is really our problem.
An oil shortage could have been mitigated with 20 years of planning. Instead, our Heads of State pretend they had no intel on the subject while they were presiding (Clinton blamed the CIA for not handing him documents on peak oil, claiming, like a child, no one told him so he was not responsible) or are oil tycoons themselves (Bush, Cheney, Bush). Obama had to have received the intel, but what did he do? Spending on light/high speed rail? Spending on solar technology? No, he paved the roads.
But is it their fault? No, it is everybody's. So when it is impossible to get fruit in the winter in upstate New York, or when Chicago can no longer fuel their city, then we will see what the problems will be.
and as things get worse, all we get is more lies and less rights. This will not end well.
A thief knows how to steal, what more is never certain.
a thief knows how to steal until steel knows the thief
Chicago and upstate new york will be fine (Great lakes). Bottled water sells at a higher price per gallon than gasoline. China and M.E. Oil producers will, and are paying for water.
But the entire southwest is screwed.
Totally agree @Mr Lennon. I keep saying. No comparison with the 1970s. The economy was still growing. Middle class incomes hadn't been gutted yet.
Also, we had only just left the gold standard and our economic base was still located within our borders.
US oil production had only just peaked. European economies had only just returned to full capacity and were still repaying debts to the US. US produced 35% of goods produced in the world. Durable goods manufacturing employed peaked in the 70s and employed twice as many as now.
Perfect synopsis Trav.
biggest difference is there is no new ME to bail out the shortages here.
The USD debt pyramid was underpinned by domestic production ultimately before the 70s. Now it is underpinned by world production.
I choose door #1 (i.e. that Bernanke is a soldier for the ultra wealthy elite;owners of the U.S/Western Europe Big Banks ... the ones with enough clout to buy governments).
Ben's a smart cookie and good (albeit.. misguided) soldier. Likely he'll go down before he rats out his masters.
The Bernank is a tool, nothing more, nothing less.
He will mouth the phrases he must until he is dead or removed.
Move along folks, nothing to see here.
Look at the pretty bubbles, Mama!
FIX? Shoot every acclaimed idiot on CNBC, everyone at the SEC, and everyone at the FED RES in the f-ing head.
We can "reset" but with the same lame asses in place, with no consequence of their actions nothing will be learned and nothing wil be changed... for the better.
These economic terrorists need to be escorted off the face of the plante.
I'm going with he is working for an elite few. Nobody can be this stupid.
The thieves take the loot!
how about this one ............ I'M GOING WITH : GET RID OF THE CREEP !
I think I have figured it out. Ben has stocked up on gold and is just trying to get us to the part in the article where "the uninsured are financially finished". Right now he's seeing how much he can make by sending in spray painted rocks in a new cash buyback thing he's set up with Cash4Gold
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