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.”
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
This post was last modified on August 14, 2021
View Comments (30)
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.
"The problem is as plain as the nose on Barack Obama’s face."
Someone call the waaaambulance, I find that comment racist!
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.
Hey, what have you got against inanimate objects. They have feelings too, you know.
Thank you, I need a thumb down once in a while, just so I know I'm pissing someone off.
“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.
I betting on Soros, he's done it before.
And he and Obango both share a similar view of America- they hate it.
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.
Off with his head!
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
Peter Schiff should be made the head of the Fed.
Liberals never understand that what they are doing is wrong, they just feel they have not done enough of it yet.
Jim Quinn
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.
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.
One Hundred Years from now if textbooks are written truthfully the Bernanke will be found as guilty as the Obomb. Lord save us.
If we have four more years of Break Insane Yo'mama, we won't have one hundred more years...period!