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Genesis Posts: 71412 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1015-B....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-06 12:54:28
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Sushihorn Posts: 6082 Incept: 2007-10-22
Arlington, TX
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Loved the disclosure. The rest was pretty good too. Bernanke: the sous-chef of the housing bubble, now promoted to head chef of the government finance bubble. ---------- http://jengafinance.blogspot.com/ Stop the looting. Start prosecuting. Do it soon. Or folks may start shooting.
2009-05-06 12:59:22
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Snowman Posts: 1040 Incept: 2009-03-09 
avoiding yellow snow
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The "communications process" at the FOMC very closely resembles those provided by the Politburo of the PRC.
2009-05-06 13:07:30
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Trader_kid Posts: 4012 Incept: 2007-09-27 
You sounded a little taller on radio Online
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Quote:The "communications process" at the FOMC very closely resembles those provided by the Politburo of the PRC. that's because the FOMC is really a central planning organization. ---------- "People have predicted the end of America in the past and been wrong. But let's face it: If you're trying to borrow $9 trillion to save your financial system, and already half your public debt held by foreigners, it's not really the conduct of rising empires, is it?" - Niall Ferguson
2009-05-06 13:37:58
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Corn1945 Posts: 111 Incept: 2009-04-30
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Quote:Disclosure: Long pitchforks, torches and boiled rope. I just don't see this happening. The media is doing a fantastic job of convincing people everything is OK. As long as they keep lying effectively, people will be "buy and hold" to the grave. There is simply too much at stake for anyone to rock the boat. Last modified:
2009-05-06 13:40:50 by corn1945
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Tesla Posts: 8174 Incept: 2008-04-03
Delaware
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---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-05-06 13:54:29
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Snowman Posts: 1040 Incept: 2009-03-09
avoiding yellow snow
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There is a very good research article (long read) that talks about 2006-03-22 "The Consumer Debt Bomb: Accident or Policy Prescription?" It very well lays out the historical events that lead policy makers on a very well coordinated and deliberate path to grow the economy through debt. http://www.allacademic.com//meta/p_mla_a.... snippet: "these policies resulted in the creation of a finance-led growth regime. The Anglo-American governments embraced these recommendations, more than any other nations, because they believing that the vicious circle of high inflation, recession, and unemployment would be replaced with a virtuous circle of investment, employment, profitability, and wealth creation. The belief was that a new financial ecosystem would be created that boosted economic performance by routing innovation and growth through capital markets (Feng et al. 2001: 493). Thus, these imperatives of market restructuring were coupled with an ideological apparatus promising change and new prosperity (see) (OECD 1977; OECD 1979; OECD 1982; OECD 1984; OECD 1988)."
2009-05-06 14:00:46
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Koaj Posts: 950 Incept: 2009-02-03
NJ Online
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HR 1207 cant get passed soon enough. it's not the answer but its a good start
2009-05-06 15:58:34
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Rutben Posts: 900 Incept: 2007-07-27
Phoenix, AZ Online
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Although Bernanke is certainly more than complicit, I think you give him too much credit (“He understands the math too”) In June 2003 the Dow was breaking below 9000. I would simply argue the financial ignoramuses were following the example of the “leading German monetary authority, Dr. Helfferich, when he warned his people against the dire consequences of monetary stabilization”. (1921) “To follow the good counsel of stopping the printing of notes would mean refusing to economic life the circulating medium necessary for transactions, payments of salaries and wages, etc. It would mean that in a very short time the entire public, and above all the Reich, could no longer pay merchants, employees, or workers. In a few weeks, besides the printing of notes, factories, mines, railways, and post offices, national and local government, in short, all national and economic life would be stopped”. From the Book “The Economics of Inflation; A Study of Currency Depreciation in Post-War Germany” – Constantino Bresdiani-Turroni
2009-05-06 15:58:36
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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He has repeatedly claimed he had nothing to do with the bubble. He's lying. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-06 15:59:18
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Dji Posts: 720 Incept: 2009-04-21
Fleming Island Online
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Gen, He sounds scared doing it too! How does he keep a straight face? ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-05-06 16:20:09
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Rutben Posts: 900 Incept: 2007-07-27
Phoenix, AZ Online
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They're all too arrogant to "lie". The hubris permits them to rationalize that they are doing the right thing. Since we have aired this out before without resolution, let's just hope some day they are put under oath where we can find out exactly what was going on.
2009-05-06 16:29:04
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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I think we know exactly what is going on - the oligarchy is stealing tax dollars from the citizens without restraint and with government assistance.
---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-05-06 16:32:13
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Reza30 Posts: 233 Incept: 2009-02-15
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Karl, I have read your tickers regarding the fact that the Fed can't simply print its way out of this mess. Since all the central banks are coordinated crooks however, they all seem to be printing their way out of this global mess one-by-one. So my question is that if they all decided to print many more trillions of dollars at the same time, then none of them would fear a collapse of their currency and as such they could continue to print and print. Would this be possible? 
2009-05-06 17:14:11
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Sushihorn Posts: 6082 Incept: 2007-10-22
Arlington, TX
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Rutben I thought I was reading Mugabe for a second there: Quote:The brain must function not in a stereotyped manner but in a flexible manner, you must turn your mind and say shall I allow my people to starve merely because the laws of economics say I must not print money. No, I will print money today so that the people can survive, so the workers can remain alive... ---------- http://jengafinance.blogspot.com/ Stop the looting. Start prosecuting. Do it soon. Or folks may start shooting.
2009-05-06 20:17:17
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Rutben Posts: 900 Incept: 2007-07-27
Phoenix, AZ Online
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Yep....the "printers" certainly have their oxymoronic mojo down pat: "dire consequences of monetary stabilization". Every time I read something about Bernanke, his quote about "economic science" always reminds me of the immense hubris. The article, the Education of Ben Bernanke, in which the quote appeared is linked below. It reminds everyone that Ben was so smart he skipped first grade. (it didn't say whether he also skipped economics classes) Then it goes on to ask him to explain the "Great Moderation", i. e. the seeming absence of great ups and downs in the economic cycle. "Has it been the result of good luck? Or perhaps has it been because of improved management skills —business learning not to overstock inventories, for example? Bernanke has written that it is something else. He sees it as a result, in large part, of better monetary policies. He says that “central bankers have finally learned how to guide economies — not with mystique but with economic science”. http://www.nytimes.com/2008/01/20/magazi....
2009-05-06 21:19:02
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Schwantz Posts: 5077 Incept: 2007-11-12
Monkey Do
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He's the leading adherent of a very dangerous and seditious ideology.
---------- Dives sum, si non reddo eis quibus debeo Smash the Keynesian idiocracy!
2009-05-06 22:30:29
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Markytom Posts: 217 Incept: 2009-02-19
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Off subject question on unemployment numbers . . . The company I work for had reduction in force recently (layoff is a misnomer) and many of the people that were let go were "retired" - they were given a nice package to go ahead and retire from the company. Many of these people may end up working part-time in the future or not work at all again. Is any of this accounted for in the different unemployment figures? Are the "retired" numbers even added to the "layoff" numbers when a company reduces its workforce? I would be curious to know if the numbers for early retirement are factored into the different economic indicators or not - my guess is that these numbers could be quite significant as there are lots of baby-boomers now entering retirement age.
2009-05-06 22:32:11
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Reza30 Posts: 233 Incept: 2009-02-15
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If the most expansionary monetary policy in history is not blowing bubbles (housing, commodities, stocks), I don't know what is.
2009-05-06 23:19:41
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Mike57 Posts: 352 Incept: 2009-03-10 Bethlehem, PA.
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It really was quite a grand experiment though. The concept that you could grow an economy forever based on debt was the grand delusion. When the majority of a society "hits the wall" in regard to the amount of debt they can service they're out of the game. Sooner or later you run out of players, you sit with a confused look on your face as you've just printed trillions more, but wait, there's a problem ... there's no one left to play.
2009-05-06 23:45:24
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