Bernanke holds town hall meeting. “I’m not a believer in the Old Testament theory of business cycles. I think that if we can help people, we need to help people and that’s why the Federal Reserve is, again, trying to do what we can to get the economy back on track. And we have made some progress, though we are still far from where we would like to be.”: Obviously Bernanke is anticipating a second career as a stand up comedian. Too bad he couldn’t have also anticipated that creating money out of nowhere was going to gut the value of the dollar and further tank the economy.
This post was last modified on January 26, 2021
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Too bad the folks who attended did not bring pitchforks and torches...
"The Old Testament theory of business cycles"????
Here's an outside-of-the-box thought - without defending this particular crakpot of course. As conservatives, we are usually in favor of minimizing the functions of government in favor of the private sector. Yet here we have essentially that exact situation; the Fed being, of course, a private entity performing a government function. It seems to me that the political lines on this -generally- ought to split opposite from how they usually do, that conservatives should favor this and liberals oppose it. Open discussion?
You're so far from where you want to be you're never going to get there. And the longer the gayPOTUS is in office, the longer it will take to ever get the wheels going in the right direction. You can quit hanging your shingle when Cain gets in office too Bub Burntwankie.
I'm no Bible expert but I think if there were some mention of business cycles in the Old Testament I'd have heard about it before now.
Business Practices
170.Not to do wrong in buying or selling (Lev. 25:14)
171.Not to make a loan to an Israelite on interest (Lev. 25:37)
172.Not to borrow on interest (Deut. 23:20) (because this would cause the lender to sin)
173.Not to take part in any usurious transaction between borrower and lender, neither as a surety, nor as a witness, nor as a writer of the bond for them (Ex. 22:24)
174.To lend to a poor person (Ex. 22:24)
175.Not to demand from a poor man repayment of his debt, when the creditor knows that he cannot pay, nor press him (Ex.22:24)
176.Not to take in pledge utensils used in preparing food (Deut.24:6)
177.Not to exact a pledge from a debtor by force (Deut. 24:10)
178.Not to keep the pledge from its owner at the time when he needs it (Deut. 24:12)
179.To return a pledge to its owner (Deut. 24:13)
180.Not to take a pledge from a widow (Deut. 24:17)
181.Not to commit fraud in measuring (Lev. 19:35)
182.To ensure that scales and weights are correct (Lev. 19:36)
183.Not to possess inaccurate measures and weights (Deut.25:13-14)
but wait, there's more:
http://www.bibleheadquarters.org/THE613LAWSoftheOLDTESTAMENT.html