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Bernanke's True Legacy
Ben Bernanke, like Alan Greenspan before him, is now concerned about his legacy.
To that end, he’s begun writing a blog that, as one would expect, is largely a defense of his actions, even though the Fed’s OWN research shows that he’s either lying or an idiot.
To that end, QE cost income-focused retirees and savers over $470 billion and, at best, lowered unemployment by 0.13%. Beyond this, the Fed’s actions under Bernanke’s leadership, ignited the biggest inflationary bubble in history.
Bernanke HATES deflation, not because he likes paying more for a house or car or food or anything else… but because DEBT deflation would render the big Wall Street Banks insolvent.
Ben, while delusional and dishonest, is not entirely dumb. He knew which side of the bread was buttered for him and his masters. So he was only too happy to inflate the heck out of the financial system to insure that Wall Street could leverage up as much as possible.
Consider what happened to prices of various assets during the Greenspan/ Bernanke fed (Bernanke was hired by Greenspan in 2002).
After pricing most Americans out of the housing market, Bernanke facilitated the biggest housing Crash in 100 years.
Here’s what happened to food prices.
If you required food to live, you spent an ever larger amount of your income doing so.
Here’s what happened to oil prices. Remember, oil or oil derivatives are present in lipstick, Vaseline, solar panels, polyester (stain resistant clothes), chewing gum, crayons, Aspirin, pantyhose, sneakers, detergent, CDs, plastics of any kind, food additives, fertilizers, pesticides, candles, milk cartons, pen ink, and more. This move in prices affected ALL of those industries.
Bubbles and Crashes. But mostly bubbles.
And here’s what happened to stocks.
Bubbles and Crashes.
All of the above items indicate intense inflation, not deflation. We did have ONE deflationary period that lasted a total of 7 months, but the fact remains that Bernanke was a deflation expert who helped manufacture one of the greatest periods of inflation in history. The actual suffering unleashed by this period is staggering. You cannot argue with those charts: LIFE IN GENERAL BECAME MORE UNAFFORDABLE FOR AMERICANS under Bernanke.
Bernanke didn’t care. He had to appease his Wall Street masters… not to mention the US Government which went on an unprecedented spending spree during his tenure, racking up an unheard of $18 TRILLION in debt, with total debt TRIPLING.
In short, Bernanke bankrupted the US and most Americans in the span of ten years. He created the biggest housing bubble in 100 years and also casue the greatest Crash in 100 years. A few blog entries won’t change this.
And his actions post-2008 set the stage for an even bigger crisis than 2008. When 2008 hit, the Fed became even more aggressive in its loose monetary policy. The US now sports a Debt to GDP of over 100%. The Fed's balance sheet is over $4 trillion with no possible way of exiting (the Fed cannot transfer assets as they were bought via POMOs not repos...). The next time a crisis hits... it won't just be Wall Street that implodes.
If you’ve yet to take action to prepare for the second round of the financial crisis, we offer a FREE investment report Financial Crisis "Round Two" Survival Guide that outlines easy, simple to follow strategies you can use to not only protect your portfolio from a market downturn, but actually produce profits.
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Words words words - charts charts charts - the formerly average American is living a nightmare each time he/she wakes up and realizes the financial condition he/she is in. A hundred plus years of being scammed , skimmed and even skinned by the banking industry. Repeal The Federal Reserve Act. Dismantle the IRS.
Woud the fact that he, Greenspan, 3 successive IRS commissioners, the Secretary of the Treasury, Secreatary of Commerce, the current Fed Chairman are Leftist/Marxist Jews be of any consideration or importance? Plus a long list of in Obama's Executive Branch.
There's more to being a Jew than genetics. One is hearing the Law handed down to Moses and keeping it. Bernanke and his ilk have no God but money. Their Jewish extraction is merely a tool they use to shut down any criticism as anti-semitism.
The most Israel is to them is a holiday camp and possible bug-out if it ever becomes necessary for them to flee the justice meted out by the government installed by a second American revolution.
(I prefer to think that if it ever comes to this that the Israelis, who are sick of being the banksters' scapegoat, would be only too happy to put them on the next plane back stateside to face whatever awaited them there, but that's another story.)
Ben's a South Carolina boy too, and a Republican. I hear there are a few in DC. What was the last good thing anyone in DC did for South Carolina?
http://sputniknews.com/politics/20150408/1020604512.html
Your cheese is calling.
Rand Paul, please throw these fuckers into a dungeon designed for Keynesians.
Graham - you are a fucking idiot.
If Bernanke would not have initiated QE you would be either dead -- or eating grass and bark.
We are facing the end of civilization graham:
THE END OF CHEAP OIL Global production of conventional oil will begin to decline sooner than most people think, probably within 10 years
Feb 14, 1998 |By Colin J. Campbell and Jean H. Laherrre http://www.scientificamerican.com/article/the-end-of-cheap-oil/
HOW HIGH OIL PRICES WILL PERMANENTLY CAP ECONOMIC GROWTH For most of the last century, cheap oil powered global economic growth. But in the last decade, the price of oil has quadrupled, and that shift will permanently shackle the growth potential of the world’s economies. http://www.bloomberg.com/news/articles/2012-09-23/how-high-oil-prices-will-permanently-cap-economic-growth
BUT WE NEED HIGH OIL PRICES: The marginal cost of the 50 largest oil and gas producers globally increased to US$92/bbl in 2011, an increase of 11% y-o-y and in-line with historical average CAGR growth. http://ftalphaville.ft.com/2012/05/02/983171/marginal-oil-production-costs-are-heading-towards-100barrel/
THE PERFECT STORM (see p. 59 onwards) The economy is a surplus energy equation, not a monetary one, and growth in output (and in the global population) since the Industrial Revolution has resulted from the harnessing of ever-greater quantities of energy. But the critical relationship between energy production and the energy cost of extraction is now deteriorating so rapidly that the economy as we have known it for more than two centuries is beginning to unravel. http://ftalphaville.ft.com/files/2013/01/Perfect-Storm-LR.pdf
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
If the Plan was to Bankrupt the economy to beyond a recovery, then he failed.
If the Plan was to the save the Economy, then he failed.
I hate it when people start a job and don't finish the job, they expect somebody else to finish the job. He put the economy on the skids, pushed it along the skids and then retired.
Now the question is will Yellen finish the Job. She's pushing it closer to the edge, while pretending to pull it back, but will she also retire before it actually goes over the Falls.
Just how many people is it going to take to push this puppy over the falls.
Good piece.
Check the source of the charts. Most are OK, but what they listed on US net worth was way off.
"Bernanke's True Legacy"
Plunder and lies.
The banksters need to repay us.
"I seem to be one of the few that can see the elephant, and is willing to call the elephant by his name--Zion. This is all the more remarkable because the elephant is sitting on us."
New definition for "douchebag" = Bernanke.
Bernake's legacy of poverty for all but the elite...from AP:
"A divorced father and the seven children he was trying to raise on a kitchen worker's salary were poisoned in their sleep by carbon monoxide only days after the power company discovered a stolen meter and cut off electricity to their rental home, police said Tuesday."
A disgusting human being, Liar in chief, from the shallowest of the shallow end of the gene pool. If he is smart he'll make sure no one knows how to find him when the walls come tumbling down.
I hate this fucking Bernanke more than words can express. I hope he gets some horrible form of cancer and suffers horribly before he dies. I will then piss on his grave
I hate this fucking Bernanke more than words can express. I hope he gets some horrible form of cancer and suffers horribly before he dies. I will then piss on his grave
I like this story, it gets a few simple, but important points made without a lot of bull.
I like the graphs, simple and too the point.
This is the kind of story that the mass media can not manipulate into their New Normal complacency.
And I won't even mention that Nancy Pelosi, filled the national oil reserves 'at the high price' back around 2007....oh well, nevermind. lol
Good article, not once was the word misunderstood used.
wwxx
Bernanke, Greenspan, Nixon, Clinton, George Bush,politicians that voted out Glass Stegall, biased media, dumbed down populace, neo Keynesian economists,CNBC,crony capitalism, the Fed,IMF,NATO, SEC, CBOE, Wall Street, baby boomers, IRS, accountants,QE, NIRP, Draghi, no marking to market, they are all pieces of the puzzle that have left us literally economically fucked!!
Bernanke, Greenspan
Greenspan blew up the bubble and left Benny to mop up. Alan should have given him a hint: don't use a fire hose when a couple of well place mops & buckets would have been prudent.
Bernanke is a fraud just like Greenspan (Grynspan ??) but Americans are dimsh'ts for tolerating this mess. After all they gave every 37.4C American a vote and he threw it away voting for corrupt Wall Street puppets
"Bernanke is a fraud just like Greenspan (Grynspan ??) but Americans are dimsh'ts for tolerating this mess. After all they gave every 37.4C American a vote and he threw it away voting for corrupt Wall Street puppets"
Once, while on a roadtrip, I missed my exit in Portland, OR. Without thinking I compounded the mistake by taking the next exit before evaluating it. So I exit right into the worst part of the city. Niggers everywhere, and they were "curious" as to why a white dude in a minivan was in their "hood."
Of course the first light was one of those double types, and so I had to endure two red-lights, one at each about 100 feet apart. During the second red-light, three "homies" leave the corner and start walking over toward my van. I just casually reached under the seat for my "friend" Smith and Wesson, he always likes to roadtrip with me, held it up and just smiled as I pulled the slide back and let it go. Smiled like I had just arrived at a carnival or something. They left. I think the smile was the deciding factor.
See, it is not how you get into the mess that counts, but how you get out of it.
The Four Rs
Rejection: Stop Paying. Stop Playing. Stop Obeying.
Revolution: It is inevitable, so prepare, as they are.
Retribution: The guilty must answer for their crimes against the American people and the Constitution. No “truth and reconciliation,” but “trial and Retribution.”
Restoration: Restore the American people, country and Constitutional republic.
The banksters need to repay us.
They're prepared all right. The bad guys have thousands of nukes they can order to flatten ever major city in any state daft enough to revolt in a few minutes. The real target of all those nukes was always the unreconstructed South, not the Soviet Union, which had the wherewithal to shoot back.
Restoration? They'll make damn sure there's nothing left to restore. Nothing worth eating will grow in a nuclear winter in cobalt-salted topsoil.
It did not matter for whom Americans voted. The political process was and is rigged to exclude any possibility of freeing America from lethal political, financial, corporate, old money and media parasites.
But, please do present your parasite extermination plan. Perhaps you have thought of something, excepting the.most obvious, that has not occurred to anyone else. Not Sarcasm/
It did not matter for whom Americans voted. The political process was and is rigged to exclude any possibility of freeing America from lethal political, financial, corporate, old money and media parasites.
But, please do present your parasite extermination plan. Perhaps you have thought of something, excepting the.most obvious, that has not occurred to anyone else. Not Sarcasm/
How do you vote out an oligarchy?
PosterToaster:
1. Always vote in the primary, but never vote for any incumbent.
2. Never vote for the most-financed candidates.
3. Pass this on. Soon the 99% would be represented.
Usually with pitchforks and torches...
and oil, lots and lots of oil.
Postertoaster "How do you vote out an oligarchy?"
Sit the fuck home for two months.
Works every time. They make their money off of production and "the skim".
this is what happens when power is concentrated under one secretive privatly held institution.
Maybe nobody should be allowed to have "power".
De nieuwe minister van 'waarheidsvinding en verzoening' schrijft dat het dreigingsniveau in Nederland nog steeds substantieel is. De kans op een aanslag blijft reëel, omdat politici nog steeds geen beleid willen maken in lijn met de 'Logica van de 1'.
http://www.volkskrant.nl/binnenland/dreigingsniveau-in-nederland-substan...
In de Tweede Kamer stelden de PvdA, SGP en ChristenUnie al vragen aan minister Van der Steur over het 'recht op vrijheid' die de supporters van de FC Utrecht eigen hebben gemaakt.
http://www.nrc.nl/nieuws/2015/04/07/joodse-organisaties-doen-aangifte-te...
Uiteraard geldt in de Tweede Kamer de dogma's van het 'recht op waarheid' en de minister kan gemakkelijk vertellen dat er geen verschil is tussen joden, moslims of anarchisten met betrekking tot 'het verbranden daarvan'. Tenminste als we de verschillende crematoria mogen geloven.
http://www.volkskrant.nl/opinie/dit-vinden-critici-van-het-boek-van-ayaa...
Ook Ayaan Hirsi Ali probeert weer 'Scherp en hoopvol' te zijn. In de optiek van de 'Logica van de 1' is iedereen onderworpen aan de natuurwetten en alleen in die zin gelijkwaardig. Immers iedereen is uniek en dit geldt ook voor Ayaan Hirsi Ali. Dat je "opgepakt en onthoofd wordt als je zegt dat je niet langer in de 'Logica van de 1' gelooft" is natuurlijk een manier om de 'theorie van alles' te verspreiden. Haar boek maakt in ieder geval duidelijk dat ze 'vrijheid', 'menselijke waardigheid' en 'compassie' niet heeft geschreven in het WAARHEID=MACHT-paradigma. Logisch dus dat The New York Times tot de conclusie kwam dat 'haar woorden moedig zijn, maar niet overtuigend'!
Omit the article and insert a Banzai pic of Bens head on a donkey dropping a load on the US.
Don't blame Bernanke. He was merely the tool of your betrayal. If you wish to see its grand architect, look to your left... [/Lord Beckett]
http://sydlexia.com/imagesandstuff/mk1/mkla0089.png
bernanke's legacy = did this to the middle class:
If he was the Apollo program his rockets would have landed in Cuba, after a 45 second flight.
Definitely the wrong stuff.
Every Phoenix Capital Doom Porn article posting day (96.2% of all days) is a STOCK RALLY day!
I wouldn't call what we have nowadays a rally, more like baiting a hook. The market is running out of sheep though, which means they'll go cannibal soon....
Bernanke is not an idiot. The Fed isn't full of idiots. The idiots are American who sit around and do nothing while the bankers steal all of the national wealth.
Exactly
No, this is his legacy. http://www.worldcomplex.blogspot.ca/2011/07/fiat-legacy-or-redemption-of...
So basically he did the job banksters paid him to do. Duh.
Bingo!!! The book should be titled "The Courage To Be A Patsy."