$700 billion can’t buy Ben Bernanke a clue

by editor on June 23, 2011

Some startling news: The Pope is Catholic, bears excrete better things than the 2009 Stimulus bill in the woods and Fed Chairman Bernanke has no clue what’s wrong with the economy.

Forbes has the story:

[In his second post-FOMC press conference] Bernanke admitted that he had no clue what was actually causing the current fragility in the U.S. economic recovery. While the FOMC statement assigned blame outside of the U.S., pointing at Japan along with rising food and oil prices, Bernanke […admitted…] only some of the factors were temporary and that he didn’t know exactly what was causing the slowdown, but that it would persist. “Growth,” said Bernanke, “will return into 2012.”

bernanke-praying

Ben Bernanke prays that no one will ask him a really hard question

Ben’s cluelessness is not news. His moves recently have been a central banker’s version of running in circles and screaming. What does surprise is the fact he still doesn’t get it, like someone having Anthony Weiner for a roommate and not understanding why he spends so much time with his smartphone. The problem is as plain as the nose on Barack Obama’s face.

Victor Davis Hanson explains:

…those in business, from the small entrepreneur to the captain of industry, have decided that it is wisest to sit out what is left of this administration, and wait to hire, buy, invest, and expand until someone at the top shows a basic knowledge of finance and economics, and some sympathy concerning what those in the private sector must contend with.

Simply put, growth will return in 2013 or 2017, when Barack Obama doesn’t.

– Written by Bonfire of the Absurdities

Source: Forbes, Victor David Hanson

Leave a Reply

30 Comments on "$700 billion can’t buy Ben Bernanke a clue"

Notify of
Federico
Guest

BS.

The problem is the gouging done at the cesspools ICE and CME. The criminals are using the 6 percent margins to gouge everyone. Even the hypocrite Cramer has called for increasing the margins to 50 percent. If this happens oil drops to $30.

Oil is overpriced by at least $70 per barrel. This is equivalent to a loss per day of $1.4 billion in discretionary income or $485 billion a year. If you believe in the multiplier effect, this is $2.4 trillion in economic potential lost each year. Taxes, regulations are all baloney.

Side effect of what these shysters are doing is to enrich our enemies Putin, Chavez and ahmadenijad.

Anonymous
Guest

“The problem is as plain as the nose on Barack Obama’s face.”

Someone call the waaaambulance, I find that comment racist!

anarchocapitalist
Guest

There is not enough money., gold, silver, platinum or oil combined in the universe that could buy this shit-for brains…oops that’s an insult to the intelligence of shit…this air-head…oops that’s an insult to the intelligence of air, anyway to buy this inanimate object a clue.

RockingHorseGuy
Member

Hey, what have you got against inanimate objects. They have feelings too, you know.

RockingHorseGuy
Member

Thank you, I need a thumb down once in a while, just so I know I’m pissing someone off.

DJ
Guest

“Growth,” said Bernanke, “will return into 2012.”

Well, sometimes a cancerous growth returns too, so he really needs to be more specific.

Let’s see, there’s the growth in unemployment, growth in food stamps, growth in welfare, growth in jobs going oversees, growth in bankruptcies, growth in foreclosures and growth in the national debt…and the list goes on…Hopefully the only thing that does not grow in 2012, is support in the form of votes for Obama.

Paden
Member

I betting on Soros, he’s done it before.
And he and Obango both share a similar view of America- they hate it.

danybhoy
Member

That’s a safe bet, Soros does’nt know how to earn an honest dollar, he games the system, he does’nt play it. Also, Obama does what Soros wants, he works for Soros, period.

Black Sabbath
Guest

Off with his head!

DDogbreath
Guest

Our country has been hijacked by the military industrial complex and the Wall St. banker’s. I found a rather good Youtube video that explains what I have suspected for quite some time now. I would be interested in any feed back on this issue.
http://www.youtube.com/watch?v=mhh819O4Xko

Kip Hooker
Member

Peter Schiff should be made the head of the Fed.

danybhoy
Member

Liberals never understand that what they are doing is wrong, they just feel they have not done enough of it yet.

Jim Quinn

Neo-7
Member

Ben has stated many times that he is an expert of the government’s role in the Great Depression of the 30’s in our country . Its also the fundlemental reasons or cause of Japan’s Lost Decade ( or two) . To understand these causes that run our policies down the exact same path indicates blindness or something much worse.

Most have heard that to do things the same way over and over and expect different results is insanity. I can’t bring myself to give them that much . My bet is on the side of evil.

Big Al
Member

One Hundred Years from now if textbooks are written truthfully the Bernanke will be found as guilty as the Obomb. Lord save us.

hisham
Guest

If we have four more years of Break Insane Yo’mama, we won’t have one hundred more years…period!

Buck O'Fama
Guest

We’re doing the same thing Japan did – prop up the zombie banks and the deflating real estate so the politicians’ cronies don’t lose money and the pols don’t lose votes. What should be a short (albeit painful) correction will be a looooooong drawn-out decade or so of a nothing-burger economy – at best. But Ben keeps saying “we’re not repeating Japan’s mistakes” – we are, we’re just calling it something else. Pee on our legs and say it’s excretion of unwanted biological by-products instead of piss…. but no matter what he calls it, our legs still gets wet and our shoes smell.

Joe Redfield
Guest

Why doesn’t he just quit?

Sidekick
Member

He knows. He just isn’t going to admit it.

Jim Stewart
Member

Oh hell, here’s the reason why old Ben doesn’t have a clue: Bernanke was a tenured professor at Princeton University and was chair of the Department of Economics there from 1996 to September 2002. Princeton??? Anyone who’s anyone goes to Cambridge Community College (aka Hahvahd).

spymyeyes
Member

That is the best way I have heard it put yet!
“growth will return in 2013 or 2017 when Obummer does not”

Until then, keep your powder dry & your supplies handy for the ole “let me pull a martial law outta my hat trick” by Obummer so gets to become king new NAU with our new money all printed with his ugly mug on them.

deepthinker
Member

Its time for Ben to clean out his office and go. If he has not clue (just look at 1600 PA Ave) he certainly has not clue on how to help the situation.

Ben is just a puppet on a string unwilling to get off the tax payer dollars and do something in the private sector where he would be judged on his performance not his ass kissing abilities.

YT
Member

He doesn’t work for the government. The federal reserve is a private corporation made up of member banks (who’s names you well know from the bailouts). He is also on the board of the Bank of International Settlements in Switzerland, which is also not accountable to any government.

Want to know how the Rothchilds and other old world money (Sorros is just a bag man) control the world via government proxy? Start reading. The real puppetmasters like David Rene James de Rothchild or the Rockefeller clan rarely venture into the media.

deepthinker
Member

YT you are correct about the Federal Reserve. However, he’s appointed by the President and confirmed by the Senate, if I remember my civics classes from years gone by.

He still needs to go. Thomas Jefferson was correct about a central banking system. He despised the idea of it and fought against it every step of the way.

YT
Member

You probably never learned in public school that we are on our 3rd central bank. Amazingly, the Rothchilds, Morgans etc. sort of disappeared from public life around that time too.

Look at an article about Andrew Jackson and you’ll read about how he was a populist Indian killer and racist. On his deathbed he said “At least I beat the bank” refering to the 2nd attempt at a central bank that he dismantled. Gee, to make your dying words about a central bank must mean it was an important fight but its barely mentioned.

Also, the Fed chairman is appointed by the president but must be nominated by the fed itself to have a vote in the FOMC which is where the real action happens. I recommend Greenspans book from 06 or so….. skip past all his personal crap and to the part where he fist gets appointed to the FED. He talks about some of the national laws and fed bilaws that he was never aware of.

Its a very shaddowy organization to say the least and the one with the most control over American life. Sure, congress and the president control fiscal policy but the FED controls monetary policy and can effectively create money for their member banks by any means to buy off congress. That is why there is always a federal deficit for example. And interestingly enough….the national income tax was established around the same time as the FED. The federal government is the tax collector/enforcer for the member banks.

To wrap your mind around the extend of the scam think of everything in terms of goods and services, not dollars which are just an arbitrary measuring unit.

If today I decided to buy a quantity of goods, say gasoline, for future use then stored it a few years. Then, say I decide I didn’t think I’d use it and tried to sell it. I’d owe uncle sugar a capital gains tax and not be left with enough money to buy back the gasoline I started with. The money is funneled back to the fed banks via US treasuries which represent the debt from the onoging deficits.

This is why there are no family farms anymore….farmer Bill leaves his land to Jr. who gets taxed on it and must sell it off or remorgage it to pay the damn tax. Its a debt treadmill and when the private citizens reach their limit like in 2007 the government must step in to keep borrowing to keep the treadmill going. They warn the sky will fall if we don’t keep it going but look at Iceland….2 years ago they got wise to the game, gave the banks the finger and they’re climbing out of their hole already.

I’ll have some faith left in this country when politicians start talking about this default option. Dems want to keep borrowing, republicans do too but say they want austerity (read: public service cuts to keep paying interest to the Fed).

Its simply the greatest fraud in history that isn’t taught in any school. I got wise to it in 08 and 09 when both parties unilaterally agreed to bailouts and free candy despite the population hating it. Wish I knew the truth sooner……I had come across it as early as 2004 but waived it off as conspiracy kook stuff. Kicking myself now.

Elrond Hubbard
Member

“Simply put, growth will return in 2013 or 2017, when Barack Obama doesn’t.”

The nation and its businesses can’t wait until 2017, six more years of divisive misrule by Obama and his Chicago goon squad will utterly ruin us. He must go down in November of 2012.

ibaconi
Member

Trouble isn’t Obama and his Chicago crime buds, it’s his boss Soros & crew who call the shots and they’ve been calling the shots for a LONG time. They’re just now beginning their final harvest and the New World Order begins.

YT
Member

True dat. After he’s picked over the corpse of America maybe he’ll move on to greener pastures and we can rebuild.

Vic
Member

And please don’t forget Trumka, of the SEIU. He’s in this as well. (The MOST often visitor to the White House where obomie lives when he isn’t on vacation or playing with his putter.) YT, was Britain able to recover after Soros destroyed the Pound Sterling?

hisham
Guest

Say listen! If we know this, why are we sitting around here clucking, (clicking actually, but you know what I mean) like a bunch of old hens? Shouldn’t we be out protesting in the streets, chanting hateful and incendiary remarks, throwing Molotov cocktails and bricks and rocks, burning and bashing cars and rolling busses, scaring the s**t out of little boys, rioting with Police; that’s was the libtards do when they don’t get their way? There’s way more of us than there is of them…we could show ’em how it’s really done!

David Bishop
Member

I hate to disagree with you, but the problem is the Keynesian economic model we’ve been hand-holding for over 70 years.

wpDiscuz