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Hilsenrath Asks "Does Ben Bernanke Deserve A Nobel Prize?"
No, it's not a joke or sarcasm. The Fed-whispering Jon Hilsenrath has penned the first strawman sponsoring Ben Bernanke for the Nobel Prize...
Via The Wall Street Journal's Jon Hilsenrath,
It is October, which in the geeky world of academic economics means it is Nobel Prize month, or actually in the case of the economics field, Sveriges-Riksbank-Prize-in-Economic-Sciences-in-Memory-of-Alfred-Nobel month. The prizes start getting announced next week, and as is the custom for this time of year, speculation has started about who will get them.
Thomson Reuters, using academic citations, predicts Phillippe Aghion of Harvard University and Peter Howitt of Brown University will win the prize for work advancing thinking on the idea of “creative destruction.” Others names including William Baumol and Paul Romer of New York University, Jean Tirole of Toulouse School of Economics, and Robert Barro of Harvard are sure to make the rounds in the days ahead.
Purely in the name of being speculative and provocative, here’s another name that warrants some debate: Ben Bernanke. Mr. Bernanke would get attention from the Swedes not for his work as Fed chairman from 2006 to 2014, but for an academic career that pre-dated his stint in government and mapped out links between the financial system and the economy, a subject of great importance today.
Mr. Bernanke’s 1990s “financial accelerator” papers with New York University professor Mark Gertler and Simon Gilchrist presciently drew attention to the damage done to the broader economy by shocks to the credit system.
His research in the 1980s on the Great Depression also proved to be a useful roadmap for how links between the financial system and the economy break down in a crisis.
The work, along with work by others like Douglas Diamond at the University of Chicago’s Booth School of Business, is seen by many academics as being at the leading edge of research in the field. Mr. Bernanke is the 25th most cited economist on the Ideas website hosted by the Federal Reserve Bank of St. Louis, just behind Nobel winner Paul Krugman and ahead of previous Nobel winners including Edward Prescott, Daniel Kahneman and Robert Shiller.
Having led the Fed through a crisis, Mr. Bernanke will forever be a lightning rod for the central bank’s role in the great downturn of 2008. Supporters believe he steered the economy from disaster; critics say the Fed caused the crisis with low interest rates and then took reckless chances after it had happened. Regardless of your view on this question, he has an academic legacy to stand on.
* * *
Perhaps this is the chart upon which we should judge Bernanke's prowess?
But then again they gave warmonger Barack Obama a Nobel Peace Prize, so anything's possible...
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Recoupling is hard to do...
...especially if you still accept paper promises in exchange for your labor...
The fact that during this "crisis" the government has made absolutely no attempt to even appear as if justice is being served should have told us all we needed to know. Buy the dip.
That's got to be the longest blow job in history.
A lot of talking about blowjobs today. I certainly miss them, according to Mrs. LoP, "blowjobs are for dating"...
OT -
one day you're on the cover of time magazine as the richest man in the world
and then one day your prince-dom is gone. poof.
http://en.wikipedia.org/wiki/Nizam_of_Hyderabad
http://en.wikipedia.org/wiki/Osman_Ali_Khan,_Asaf_Jah_VII
Ben hasn't killed quite enough people yet, to be elligible for the Nobel Peace Prize!
If they're giving out Nobel Prizes for people who help blow bubbles to collapse the US economy then BS Bernanke qualitfies.
If there's one prize that Bernanke deserves, it's the horsewhipping of the century.
Long horsewhips.
Crime of century is worthy of more than is just horsewhipping.
(BTW, horsewhipping is reserve for inflict punishment of US Secretary of State).
I cant believe they put the real name of it in the first sentence
Sveriges-Riksbank-Prize-in-Economic-Sciences-in-Memory-of-Alfred-NobelIt's a Prize in Central Banking awarded by a Central Bank
Well, let me see who has already won Nobel Prizes:
Yasir Arafat
Henry Kissinger
Mohamed ElBaradei
Paul Krugman
Barack Obama.
So, yeah; I'd say Ben belongs in those infamous ranks...
For pressing Ctl+P? Sure, why not. I mean, Obama got one for... oh, never mind.
Shoot that ballon
How to Fix Banking?? Simplify.
Competition between Lawyers and Interest Groups keeps changing the rules, the laws, and has led to Telephone Book sized Income Tax Regs & the need for a Library to store all of the Laws passed by US Congress.
It seems that the earliest civilizations began using writing and then realized that they could use competition & force of personality (cult of personality) to change rules & laws.
Take the Hebrew Bible or the Catholic Church. Many different groups all competed with different doctrine. So today we have flexible laws that grow each year and the common people can't understand them on purpose.
- There are no laws carved into stone unless you go back to Mesopotamia, Code_of_Ur-Nammu, Code_of_Hammurabi
- There is no Prime law of the Land
- There is no US Constitution anymore
- This process corrupts our systems & government
- Common people don't understand taxes, laws, contracts, or Global Banking or Central Banks
Solutions:
- Standardized Accounting Rules like GAAP
- Standardized Financial Instruments
- End Shadow Banking, Bring Transparency to Finance
- Bring Integrity to Financial Ratings, Delink to Issuer
- Stress Auditing, Stress Standard Practices
- Reduce Corporate Structures/Shell Companies
- Stress Simplification as a Principal Nationwide
- Simplify all Contracts for Common People
- Direct Court Systems to use Bench Mark Decisions in Finance, Corporate Law Suits, to allow common man and poor people equality against wealth corporations
Common Man should be allowed to understand banking, law, legislation, taxes, were federal budget dollars go and are wasted, and who is really controlling congress & banking through their wealth.
Such "simplification" would eliminate far too many fucking middlemen whose "wealth" is dependent on the shuffling of all that useless fucking paper.
At this point, collapse and war are all but certain as faith slowly evaporates...
same as it ever was...
Thanks. Agreed. Plus Tax Accountants, Accountants & Books Keepers and Lobbyists would be "Adding Value to our Economy".
Fewer Tax Strategy Lawyers & Financial Mangers too.
The only reason things are as complex as they are now is we we have been bamboozled into replacing real consequences with fake consequences via regulation. If bank owners were required to place their personal fortunes at risk along side depositors savings we wouldn't need reams of regulations that constantly have to be modified and adapted. People need to stop thinking of how we can regulate our way to safety and start thinking about how we can make people pay for taking reckless risks with our money.
I cannot give you enough up votes for your comment. But have no fear, as the nature of "money" changes (again) so will the banks...
4th turning bitchez...
Just to add to GernB above:
Notice when there is a Congressional Scandal... they pass a law or tougher regulations which get pushed down all through Federal Government & maybe Military... But Congressmen & Women don't follow the rules they pass. They have a committee on ethics that gives them permission...
- Like conflict of Interest Rules
- Like Financial Transparency Reporting Rules
- Like Gift Receiving Rules
- Like Travel Rules
Its good to be Da King!
Yes LoP,
But remember "Blow-jobs are only cheat'n when your giving them" ;-)
Listen Conservative.
Fuck the pitchforks, give 'em "ALL" hydrofluoric acid colonic's.
Obviously the down arrow was from someone who doesn't know what HF can do. I work with and know people who got it on thier bodies,they said the worst pain ever. If I was ever going to torture someone HF would be my choice,just not too much or you might kill them.
Hilsenrath and Bernanke both deserve to share the same jail cell.
a Nobel prize for Economic Bankruptcy? What a great idea?
obama got one ... so ...
...and don't forget that they gave Al Gore one just for acting in a movie about global warming.
http://www.nobelprize.org/nobel_prizes/peace/laureates/2007/
Focus on what you can do. Please ignore that Al Gore’s 20-room mansion (not including 8 bathrooms) consumes more energy in a month than the average American household does in a year. Gore's average bill for electricity and natural gas runs over $2,400 per month.
Is there an Orwellian Award for Doublethink?
Absolutely, I back Bernak getting the Nobel. I also think Hil needs one for thinking about being the first female president.
Also on the list we should put the Krugman on the list too. He has been a good guy towing the company line.
I will need to think a bit about Fareed though, but hey, Nobels for everyone!!!
That was about Global Warming?!? I could have sworn it was just a movie about how to masturebate one's ego.
Exactly, and considering that the Droner In Chief Obama is a Nobel Peace Prize winner - Bernanke is a shoe in for waging war on the Middle Class, sound money, and fiduciary responsibility.
I hear that Al Gore worked with Kenneth Lay and Jeffery Skilling to design the Carbon tax and Tax Bank.
Politicians & Criminals flock together. You would think it would be easier to keep them from getting noble prizes & Knighthoods.
He should be hung by the neck, until dead.
if you want to talk about mr. fisher thats a different story w/ all the high positions in imf etc.... etc... but bernanke just a small potato, never an insider, not sure if he still understand how the system works really ...
MSM Rumor is the positions in the FED are Honorary and that the Compensation is just token amount of money.
Internet Rumor is that they must all be insiders or "Front Men" for the Cartel and must getting something big ...either on the front end or on the back end (Vig, Juice, Payoff)
Of course once at the FED you probably can get jobs at Universities based on that experience.
http://www.reuters.com/article/2014/09/22/us-usa-fed-plosser-idUSKCN0HH1...
(Personally I think the Dallas FED must be a Backwater)
Plosser and Fisher's successors will be chosen by business leaders in their respective regions, with the approval of the Washington-based Fed Board.
Swarthmore Group founder James Nevels, chairman of the Philadelphia Fed's board, and Comcast Corp Vice Chairman Michael Angelakis, the regional bank board's vice chairman, will co-chair a committee to search for a successor to Plosser.
i just threw up a little bit in my mouth
Yes, he deserves a Nobel prize for blowing up the economy just like Alfred Nobel invented dynamite to blow things up.
Well he has certainly destroyed as many or more lives than our peace prize winning bomber -n- chief. So yes, by all means, he deserves one.
This is a Hilsenrath con on top of the long time status quo con -- THESE are kept out of sight:
http://www.showrealhist.com/yTRIAL.html
The proposal is entirely consistent with how a confidence based system operates.
In that context it makes sense to keep ramping the degree of Fed Hero Worship higher as things get worse.
Here are the steps for those who have short memories:
1) Of course there is no bubble! Are you REALLY arrogant enough to think you can see what PHD Fed bankers cannot?
2) Its just a blip in the markets
3) Of course we broke black letter law dealing with an unprecedented crisis no one could have seen coming. Do you have ANY IDEA how bad things would have gotten if not for us? The only outrage is that our pictures are not on the money since we are the only reason money still functions.
4) Whats that? More bubble talk from you? Haven't you embarrased yourself enough already?
I think you can nominate anyone for the prize....its like $75 dollars to do so....
Why not? After all, Hitler got Time Magazine "Man of the Year" in 1938.
Why not? After all, Hitler got Time Magazine "Man of the Year" in 1938.
Bernanke deserves to be rolled in glass shards,, then heavily salted and rolled in honey...Then he needs to be staked to the ground over a nest of hungy 'Fire Ants'.
The Soviets like to douse one with gas, head to tow, hang you upside down, and light a match. The upside down was so you wouldn't be overcome with smoke and felt the pain with out passing out.
I like the way you think!!! Milestones
How did Hilsenrath say anything with Ben's dick in his mouth?
lol. You speak the truth.
After Krugman, anything is possible.
Is there a Nobel prize for re-disproving Okun's Law all over again?
Guys like Hilsenrath...you just want to make them take organic chemistry to gain some appreciation of what actual science is.
Failing that - how about top 20% performance on any one of a number of popular testing platforms?
http://www.tomsguide.com/us/pictures-story/628-best-mobile-business-sim-...
Ass hole of the century for Ben, that's for sure.
I would like to hock up a big lugie and spit in their face
Why not Obama then? He already got one for the wars, maybe he should get one for the jobs! Fuck yeah
This one's for you Hilsenrath: www.youtube.com/watch?v=Lv2qLOiioPc
He probably killed or hurt more people than Obama......so sure give him a Nobel Prize too !!!
Ben Bernanke, the man who saved the world ... before plunging it into a debt-scourged living hell
FEMA camp prizes for all banksters.
FEMA camp prizes for all banksters.
Who the fuck listens to this pimp?
isn't the nobel prize gold ... and bernanke hates gold ... need substitute ... how about some 1s and 0s printed on a ribbon?
Considering the damage Bernanke has done to wolrd economies, his Nobel does seem a bit overdue.
No
One
Belives
Elitest
Lies
there must be an accompanying gay pr0n video for the submission, then?
Arrest Bernanke. Don't let him get away.
anyone else catch reynolds from rosenblatt on cnbc this morning? guy was spot-on with his analysis on credit issuance & how its being gobbled-up as fast as it can be printed (further evidenced in the reversal in 10-year yields last 1-2 weeks) ... most histerical part was after he made his case, commentator asked "so what positive effects has QE had or going to have" ... his answer = "none". while he was spot-on in his analysis & he has been right on credit & equities, i just asked myself "do these guys actually listen to what they are saying?" this entire test-tube experiment was supposed to be done to help "the economy". with a few hawks retiring & obama free to load the panel with doves, i just don't see this fed actually raising rates, just simply pushing out the date when they will start again & again coupled with the "growth is right around the corner" line.
even better ... CNBC just "broke" this as a "new" story
New debt crisis fear: Subprime auto loans
http://www.cnbc.com/id/102049575?trknav=homestack:topnews:3
Sure!
If Obama got one for “peace” … why not one for Ben, who has thrown a hell of a party for the 1% and put it on America’s credit card for generations to come!
He deserves to be placed in a vacume chamber and taken to - 30psig. He likes bubbles so much he should become one himself.jmo
Stella Artois doesnt cunt it.
Fuck this for a game of larks, I'm going back on the glue, at least the world seemed a better place under the influence of glue.
Someone wants this poisened little bastard up for a peace prize?? The western world has gone fucking mental.
:-(
Sure, but we have to create a new Nobel prize for wealth destruction ( on a macro level) and blesfull ignorance.
What Nobel Prize for Bernanke?
Chemistry - n/a
Medicine - n/a
Literature - n/a
Physics - unpossible
Peace - better never get it
instead of giving bernanke the nobel, just indict him for treason, arrest him, convict him and give him the noose…all by rule of law…
I always loved that drunken benrnake in a bar video, have to look that one back up.
Give him both. Just shove the prize up his ass before the gallows' floor drops.
Maybe everyone can get a Nobel Prize when they send you your Obama Phone?
SEWARD, NE—Claiming he wasn't afraid to let everyone in attendance know about "the real mess we're in," Federal Reserve chairman Ben Bernanke reportedly got drunk Tuesday and told everyone at Elwood's Corner Tavern about how absolutely fucked the U.S. economy actually is.
Bernanke, who sources confirmed was "totally sloshed," arrived at the drinking establishment at approximately 5:30 p.m., ensconced himself upon a bar stool, and consumed several bottles of Miller High Life and a half-dozen shots of whiskey while loudly proclaiming to any patron who would listen that the economic outlook was "pretty goddamned awful if you want the God's honest truth."
"Look, they don't want anyone except for the Washington, D.C. bigwigs to know how bad shit really is," said Bernanke, slurring his words as he spoke. "Mounting debt exacerbated—and not relieved—by unchecked consumption, spiraling interest rates, and the grim realities of an inevitable worldwide energy crisis are projected to leave our entire economy in the shitter for, like, a generation, man, I'm telling you."
A drunken Bernanke attempts to find the Aerosmith song "Back In The Saddle" on the bar jukebox...............
http://www.theonion.com/articles/drunken-ben-bernanke-tells-everyone-at-neighborhoo,21059/
"Then he puked all over the sink and the mirror," Kampman added.
Customers at the bar told reporters the "shitfaced" and disruptive Bernanke refused to pay for his drinks with U.S. currency, claiming it was "worthless." Witnesses also confirmed that near the end of the evening, Bernanke put money into the jukebox and selected Dire Straits' "Money For Nothing" to play five times in a row.
"This is what it's all about," said Bernanke, who reportedly danced alone in the middle of the dark tavern. "Fucking love this song."
Sometimes you read a ZeroHedge headline for an article and you just start laughing uncontrollably. The back of my head hurts from this one. Well done.
It's NOT a Nobel Prize! There is no Nobel Prize in economics. It's a bogus prize in the memory of Alfred Nobel given by Riksbanken the swedish central bank. It has NOTHING to do with the ordinary Nobel Prize. Not that it has any credability left but if it's one award that is moore bullshit than the Nobel Prize it's this.
Or is Hilsenrath proposing The Bernank for the Nobel Peace Prize?
Kissinger and Obama are both Nobel Prize recipients. From this we can deduce that the Nobel Prize is nothing but a meaningless facade. What could be more appropriate than such an empty gesture of clannish mutual congratulatory masturbation for a job poorly attempted as chief sock puppet of a huge financial deception?
Congratulations Ben, I hope you're very proud of yourself and I sincerely hope you win such a prize, thus helping to further underline its complete worthlessness.
You certainly deserve it.
If it’s Bernanke for the Nobel Prize, it would be a slap in the face against Stanley Fischer who started this young man on his brilliant career of legal plunder; to ignore the mentor is the height of anti-Israel bias.
Nor, in my view, does he have “an academic legacy to stand on.”
Needless to say, the Nobel Prize is no longer noble.
Just trying to keep Bernanke from future prosecution and jail time. Kissinger did this also, as did Obama (peremptory strike) before he did basically anything except have a non white skin.
Perhaps this is the chart we should use to judge:
S&P 500 / Zimbabwe Ben's balance sheet.
Maybe we are being duped, the nobel prise is probably a joke among the 1%ers for whom can feed the sheeple the most amount of crap and get away with it?
Nominations people?
If the prize is amended to include said recipient's funeral immediately following the award presentation.
That would make Greenspan feel so omitted, he might shut up.
Extending on that thought, why not give Timmah the prize, that might make the Bernank shut up too.
Is this guy, Jon, a Tribe member?
Like Jon Stewart? Then its all okay, right?
His mother was Elaine Hilsenrath and here are her and his father's connections to Israel.
Obituaries
Elaine Hilsenrath | Great Neck Record | April 20, 2007
Elaine Hilsenrath, a Manhasset resident for 40 years, died after a valiant fight against breast cancer on April 6, 2007. She was the devoted wife of Joseph and the proud mother of Craig, Shelley, Dan and Jon. Her children all graduated from Manhasset High School and have gone on to successful careers in computer programming, technical writing, stock trading and journalism. She was adored by her ten grandchildren - Jesse, Ilan, Evan, Nira, Haley, Alexander, Jane, Hope, Lucas and Charley.
The Hilsenrath family lived in Munsey Park and Flower Hill. Mrs. Hilsenrath was loved in Manhasset for the warmth of her household, which she opened to family and friends and for charity work. She was also admired for her searing intellect. She was an historian who held a Master's degree in Jewish history from Queen's College and authored the book, Jesus, The Nazorean, a history of Jesus and his Jewish followers.
She was the founder, along with Dr. Hilsenrath, of the Israel Hospital Fund, a charity which has donated hundreds of thousands of dollars in life-saving medical equipment to hospitals around Israel for roughly 25 years, in areas populated by both Jews and Arabs. With their own money and money they raised, Dr. and Mrs. Hilsenrath donated an intensive care ambulance, infant resuscitators, heart equipment and birthing beds to hospitals around the country.
They were especially proud of a mammography machine they gave to a hospital near the Sea of Galilee that has helped Jewish and Arab women diagnose and address breast cancer.
Mrs. Hilsenrath is also survived by her loving sister Rita Greenberg and by her niece Linda, whom she treated as part of a large, single family.
She will be deeply missed. In lieu of flowers, the Hilsenrath family would warmly welcome donations to the Israel Hospital Fund, c/o Jon Hilsenrath, at 100 Bar Beach Rd., Port Washington, New York, 11050. Tax ID and further information on the fund will happily be provided upon request.
http://www.antonnews.com/greatneckrecord/2007/04/20/obituaries/
His father, Dr. Joseph Hilsenrath is a graduate of Einstein College of Medicine of Yeshiva University and took residency at Long Island Jewish Medical Center, internal medicine, Mt. Sinai Medical Center, etc. – http://www.doctor.com/Dr-Joseph_Hilsenrath
I can't speak to Bernanke's academic writings, but the only reason they would be considered now would be because of Bernanke's time at the Fed and what he did there. Presuming his deeds matched his words, then I'd say - maybe. But I think I'd want him to document the logic behind his moves at the Fed first, I mean formally not just at $250,000 speaking invitations, or maybe share his PowerPoint slides with us peons.
I give Bernanke a lot of props. He acted, and disaster did not follow as most would have expected - and did expect. But at what price did he push it off? "Too early to tell" as they old joke goes.
Bernanke deserves a hangmans noose. Pure and simple. As do all the other Federal Reserve criminals.
I think Hilsen-rat should just be flogged for his part in blowing the smoke he got blown up his ass onto the masses to dumb to think for themselves!
Now for bubble blowin Ben, before being drawn and quartered he MUST be made to confess his direct responsibility for the depression we are mired in. Then smack those horses asses!
Someone needs to accept responsibility for the damage done to the once free market system!
May the good Lord watch over this fragile little experiment in freedom / man's self rule we call America...
God save the Republic
From my limited research it seems like war is either impossible or contained when there is not limitless money creation. So with that in mind. No Bernanke does not deserve a peace prize any more that Barry does or did. He deserves the warmonger of the decade award.
To whom do they give honors?
To themselves.
It's the same everywhere, and maybe has been always.
He saved us from needing to have jobs.
Does the Nobel society give prizes for Flutter Cucks? How much is a Lunch with Bernake this week? 5 cts!
If anyone, it should be Charles Ponzi who deserves it most. Seriously. Think about it. Chief Printer BS-the-Bernank just created the hugest most humungous Ponzi bubble the earth has ever seen.
ps. On a different note, why's Hilsy still fluffing Ben?
Since O-Bomb-A rendered the NPP absolutely meaningless, I say Yes, Give Thebernanke 14 trillion of them.
He might as well win it. Obama should get another, too. And maybe Hitler should get a post toast one, while the crazy Nobel committee at it. Fuck it, Goldman, too.
Bankrupt U Bernanke will have it taken away if he gets it. He's a dumb motherfucker. He was solely responsible for the Great-Recession.
Did you see my 10/1/2014 market call. I am the greatest market timer in history.