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Thread: Person of the year 2009- Ben Bernanke

  1. #41
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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Jackboot View Post
    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?

    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.
    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
    Last edited by Kushinator; 12-16-09 at 04:31 PM.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Goldenboy219 View Post
    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
    So he gets this award.... for printing money out of thin air, is this your position?

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Jackboot View Post
    So he gets this award.... for printing money out of thin air, is this your position?
    For saving the financial system from utter destruction. That is what i am saying!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #44
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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Goldenboy219 View Post
    For saving the financial system from utter destruction. That is what i am saying!
    And on what basis would anyone be led to believe that our financial system would have been "destroyed" if the Fed hadn't acted?

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Goldenboy219 View Post
    For saving the financial system from utter destruction. That is what i am saying!
    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"?

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Dav View Post
    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?
    Last edited by Kushinator; 12-16-09 at 04:40 PM.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Jackboot View Post
    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"?
    See the post above. Ever heard the term: Run on the financial system
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Keynes
    "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
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Goldenboy219 View Post
    See the post above. Ever heard the term: Run on the financial system
    So you agree then, there was no crisis, just bread and circus?

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    Re: Person of the year 2009- Ben Bernanke

    Quote Originally Posted by Jackboot View Post
    So you agree then, there was no crisis, just bread and circus?


    What does this chart mean to you?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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