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Bernanke: Fed would supply more stimulus if needed

DontDoIt

DontDoIt

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Title says it all. Even after Greenspan coming out clear as day saying that the previous stimulus plan and pumping money into the economy clearly had no real help on the economy Bernankes comes out saying this. Apparently $278,000 a job was a success, so lets do it again?

Bernanke: Fed would supply more stimulus if needed - Yahoo! Finance

:roll:
 
DontDoIt said:
Title says it all. Even after Greenspan coming out clear as day saying that the previous stimulus plan and pumping money into the economy clearly had no real help on the economy Bernankes comes out saying this. Apparently $278,000 a job was a success, so lets do it again?

Bernanke: Fed would supply more stimulus if needed - Yahoo! Finance

:roll:
Click to expand...

The destruction of the US economy, and its future as a powerful and influential nation, appears now to be deliberate. I can see no other reason.
 
DontDoIt said:
Title says it all. Even after Greenspan coming out clear as day saying that the previous stimulus plan and pumping money into the economy clearly had no real help on the economy Bernankes comes out saying this. Apparently $278,000 a job was a success, so lets do it again?

Bernanke: Fed would supply more stimulus if needed - Yahoo! Finance

:roll:
Click to expand...
QE 1 and 2 were not taxpayer funded activities, and neither will QE 3 or 4 or 5.

As for Greenspan, he is an idiot who has a direct responsibility for the current crisis, who didnt see it coming, when others did. Given his lack of ability to see the crisis coming I doubt he has the ability to predict what can bring the US out of the crisis, or read current economic conditions and the probable cause of them
 
Grant said:
The destruction of the US economy, and its future as a powerful and influential nation, appears now to be deliberate. I can see no other reason.
Click to expand...

The you are rather short sighted, and lack a historical knowledge of countries engaging in currency debasement and why they do it. It is politically easier to do so then to allow for a massive economic crisis, where the entire economy colllapses quickly.

See 1920's Germany
Turkey in the 80s
Mexico,
Italy
all in the 80s with the same sort of reactions to economic issues. I doubt Turkey's military leaders during that time frame wanted to destroy Turkey (being nationalists after all) but saw the debasement of the currency as the best course of action
 
Wow, another one?

The US will probably end like the Wiemar Republic.
 
Lord Tammerlain said:
QE 1 and 2 were not taxpayer funded activities, and neither will QE 3 or 4 or 5.

As for Greenspan, he is an idiot who has a direct responsibility for the current crisis, who didnt see it coming, when others did. Given his lack of ability to see the crisis coming I doubt he has the ability to predict what can bring the US out of the crisis, or read current economic conditions and the probable cause of them
Click to expand...

Be fair now. Bernanke is also directly responsible for the current crises. How in the world we allow someone who played as big of a role creating the crises as Bernanke still play any role is beyond me.

For the same reasons I'm equally amazed that anyone listens to anything Greenspan says any longer but facts to do show QE1 and 2, did nothing. All this news did today was to send the dollar plummeting and energy prices up. Yeah, that's going to help.
 
Actually I am aware of those past crises, as the Obama Administration should be. Why should I bother mentioning them?

It only makes my point that when governments irrationally follow failed policies of the past, further failure is like to follow.

That is happening now and there can be no justification for it, other than it being quite deliberate.
 
Grant said:
Actually I am aware of those past crises, as the Obama Administration should be. Why should I bother mentioning them?

It only makes my point that when governments irrationally follow failed policies of the past, further failure is like to follow.

That is happening now and there can be no justification for it, other than it being quite deliberate.
Click to expand...

I think you are underestimating the power of ignorance.
 
Grant said:
Actually I am aware of those past crises, as the Obama Administration should be. Why should I bother mentioning them?

It only makes my point that when governments irrationally follow failed policies of the past, further failure is like to follow.

That is happening now and there can be no justification for it, other than it being quite deliberate.
Click to expand...

The justification is that they believe the alternative is even worse, which it could very well be
 
it's Bernyankme and this fool should be tossed along with this federal reserve.
 
At this time, I believe another round of QE would not be helpful. The last round had only little macroeconomic effect. Instead, its principal impact was a growing distortion of equities prices. Until the end of QE3 had drawn closer, equities prices were showing early signs of decoupling with economic fundamentals. Another round would very likely further distort asset prices and also undermine the value of the U.S. dollar. Worse, it could send a signal that the U.S. is using a backdoor mechanism to reduce its debt burden via inflation, not sound policy choices.
 
Lord Tammerlain said:
The you are rather short sighted, and lack a historical knowledge of countries engaging in currency debasement and why they do it. It is politically easier to do so then to allow for a massive economic crisis, where the entire economy colllapses quickly.

See 1920's Germany
Turkey in the 80s
Mexico,
Italy
all in the 80s with the same sort of reactions to economic issues. I doubt Turkey's military leaders during that time frame wanted to destroy Turkey (being nationalists after all) but saw the debasement of the currency as the best course of action
Click to expand...

Grant said:
Actually I am aware of those past crises, as the Obama Administration should be. Why should I bother mentioning them?

It only makes my point that when governments irrationally follow failed policies of the past, further failure is like to follow.

That is happening now and there can be no justification for it, other than it being quite deliberate.
Click to expand...

I'm curious...

Of the countries Lord Tammerlain mentions, which if any have emerged on a stronger financial footing since their devaluation from the 80's including Germany since 1920?
 
i'm not a fan of Bernanke's strategy of printing money. the last thing the country needs is the inflation that it causes.
 
Lord Tammerlain said:
The justification is that they believe the alternative is even worse, which it could very well be
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And which it might not be. It becomes a matter of belief, at which time we should immediately ask ourselves whether we can trust the word of a politician. Especially one who also happens to be a serial liar.
 
Redress said:
Why do people still make that idiotic 278k per job claim?
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Perhaps they are looking at the money being spent on the stimulus plan and the number of people who found permanent work as a result. In fact the unemployment figures have risen so that 278k per job might be optimistic.
 
Objective Voice said:
I'm curious...

Of the countries Lord Tammerlain mentions, which if any have emerged on a stronger financial footing since their devaluation from the 80's including Germany since 1920?
Click to expand...

Turkey has. It is doing quite well ecomomically at the moment. It does have too high a current account deficit, which will lead to some issues. But it is developing a strong manufacturing base and is one of the world leaders in taking on large construction projects in other countries. Of course its growth was not due to the devaluations, but instituting better economic policies mostly since the AKP has been elected.


Now on the flip side

How about a list of all the countries that an amount equal to 10% of GDP from government spending in just a couple of years, and how have they done, or the list of countries that defaulted on their debts (Russia, Argentina)
 
Grant said:
And which it might not be. It becomes a matter of belief, at which time we should immediately ask ourselves whether we can trust the word of a politician. Especially one who also happens to be a serial liar.
Click to expand...

Obama doesnt know, neither would GWB, it would be impossible to "know" unless they took the action. What you can do is look at history and see what has happened under similar conditions and what policies were undertaken at those times. Bernanke is supposed to be an expert on the Great Depression, and it has been his policy that he would drop money from helicopters to prevent deflation ( nickname helicopter ben)

I was telling people the US would go this route in 2006 for the exact reasons it has. Bernanke wants to prevent deflation at all costs, and as long as he is fed chairman, he will do what he can because he views deflation as being far more negative then the inflation his policies are creating
 
The man better expect torches and pitchforks following him around if he seriously contemplates blowing yet more money down the Federal toilet a la "more stimulus".
 
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