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Person of the year 2009- Ben Bernanke

dialogue....

I don't talk for the sake of talking. Inflation, as you define it, has already started. Inflation, as I define it, has been in place for a long time, and the negative effects are finally settling in.
 
I don't talk for the sake of talking. Inflation, as you define it, has already started. Inflation, as I define it, has been in place for a long time, and the negative effects are finally settling in.

So which is it? Does inflation lead to higher prices, or lower prices? If you say, "its not about prices!" then why does your definition even matter?
 
So which is it? Does inflation lead to higher prices, or lower prices? If you say, "its not about prices!" then why does your definition even matter?

The only correct answer would be that it depends. It depends on how bad the inflation is and how technology and production is improving.
 
So which is it? Does inflation lead to higher prices, or lower prices? If you say, "its not about prices!" then why does your definition even matter?

I'll jump in and say that inflation does lead to higher prices as we saw before the recession with food prices a lot higher than they are now.
(Which is good for me and my budget :2razz:)

The main problem is though that perpetual inflation can not last forever, some serious amount of equal deflation must happen eventually to balance the monetary supply, inflation must match the growth that is happening other wise it can lead to false growth and speculation.
 
Can you prove it? The economy is piss poor condition and isn't getting any better.

It's not? The stock market has been growing since March. The number of jobs lost has decreased every month since May, and will probably actually start growing this month (or maybe even last month, once the adjusted numbers come in).

I think this is a very bad time to be a bear on the US economy. We endured a major crisis last fall, and all things considered I think we recovered reasonably well.
 
It's not? The stock market has been growing since March. The number of jobs lost has decreased every month since May, and will probably actually start growing this month (or maybe even last month, once the adjusted numbers come in).

I think this is a very bad time to be a bear on the US economy. We endured a major crisis last fall, and all things considered I think we recovered reasonably well.

No, it's not. And, we haven't recovered, either. I was making way more money this time last year than I am now.
 
Ben Bernanke was incredibly important at preventing a total financial disaster. I couldn't agree more with TIME Magazine...and I don't agree with their Person of the Year picks very often.
 
No, it's not. And, we haven't recovered, either. I was making way more money this time last year than I am now.

I didn't realize that your personal income (or even everyone's personal income) was the only economic indicator our nation had. But what do I know. Must be Bernanke's fault. :roll:
 
I didn't realize that your personal income (or even everyone's personal income) was the only economic indicator our nation had. But what do I know. Must be Bernanke's fault. :roll:

Of course personal incomes are an idicator. Without more disposable income, there can't be consumer cash flow and cash flow is the life blood to any economy.
 
Of course personal incomes are an idicator. Without more disposable income, there can't be consumer cash flow and cash flow is the life blood to any economy.

Unfortunately the data does not back this up. The economy has been growing since Q3. At any rate, what influence do you think Bernanke had over your personal income?
 
No, it's not. And, we haven't recovered, either. I was making way more money this time last year than I am now.

And last year many of capitialist lost their asses.
 
So the fed now makes policy, is this what I am reading?

Ben saved the day, really?

Was it not Bush, through the last Treasury head that introduced the so called TARP program?

But Bernanke is the person of the year, odd?:confused:

Here is the truth folks, Time wanted to name Obama, but since he had already been recently given an award he didn't earn, this would not be well accepted. The only other logical choice, and the only way to, once again, give obama more credit, the award was given to this man.:doh
 
So the fed now makes policy, is this what I am reading?

Ben saved the day, really?

Was it not Bush, through the last Treasury head that introduced the so called TARP program?

But Bernanke is the person of the year, odd?:confused:

Here is the truth folks, Time wanted to name Obama, but since he had already been recently given an award he didn't earn, this would not be well accepted. The only other logical choice, and the only way to, once again, give obama more credit, the award was given to this man.:doh

Are you honestly claiming that Bush and/or Paulson (neither of whom have held office since Jan 20) were bigger newsmakers this year than Bernanke?
 
Are you honestly claiming that Bush and/or Paulson (neither of whom have held office since Jan 20) were bigger newsmakers this year than Bernanke?

Yes, I have heard both names mentioned more then I have heard the name "bernanke"

That said, this is not the point, just what has this man done, that we should applaud him, much less name him "person of the year"?:confused:
 
So the fed now makes policy, is this what I am reading?

Ben saved the day, really?

Was it not Bush, through the last Treasury head that introduced the so called TARP program?

But Bernanke is the person of the year, odd?:confused:

Here is the truth folks, Time wanted to name Obama, but since he had already been recently given an award he didn't earn, this would not be well accepted. The only other logical choice, and the only way to, once again, give obama more credit, the award was given to this man.:doh

Zero bound federal funds rate creates a wall of liquidity necessary to prevent serious asset devaluations. Considering asset markets in early March, anyone who has market orientated retirement accounts should be kissing the very ground Bernanke walks on.

How is that for a little truth. I mean, the Dow could have slid to 2500. I'm just saying:roll:
 
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Zero bound federal funds rate creates a wall of liquidity necessary to prevent serious asset devaluations. Considering asset markets in early March, anyone who has market orientated retirement accounts should be kissing the very ground Bernanke walks on.

How is that for a little truth. I mean, the Dow could have slid to 2500. I'm just saying:roll:

So he gets this award.... for printing money out of thin air, is this your position?:confused:
 
So he gets this award.... for printing money out of thin air, is this your position?:confused:

For saving the financial system from utter destruction. That is what i am saying! :2wave:
 
For saving the financial system from utter destruction. That is what i am saying! :2wave:

And on what basis would anyone be led to believe that our financial system would have been "destroyed" if the Fed hadn't acted?
 
For saving the financial system from utter destruction. That is what i am saying! :2wave:

What crisis, if we can just turn on the printing press when things get messy, then where is the crisis, and just how did this man "save us all from destruction"?:confused:
 
And on what basis would anyone be led to believe that our financial system would have been "destroyed" if the Fed hadn't acted?

If the monetary base holds constant (much less contracts), and people are scrambling to get into cash (selling assets), what does that do to prices?
 
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What crisis, if we can just turn on the printing press when things get messy, then where is the crisis, and just how did this man "save us all from destruction"?:confused:

See the post above. Ever heard the term: Run on the financial system
 
Keynes said:
"Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than mathematical expectations, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits - a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.

Animal spirits (Keynes) - Wikipedia, the free encyclopedia
 
So you agree then, there was no crisis, just bread and circus?

_tyx


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