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That's still better'n Bernanke's predecessor and longtime champeen of the unregulated Free Market, Alan Greenspan when he testified only the year previous, that "mistakes were made...".
Greenspan - I was wrong about the economy. Sort of ..
A long-time cheerleader for deregulation, Greenspan admitted to a congressional committee yesterday that he had been "partially wrong" in his hands-off approach towards the banking industry and that the credit crunch had left him in a state of shocked disbelief. "I have found a flaw," said Greenspan, referring to his economic philosophy. "I don't know how significant or permanent it is. But I have been very distressed by that fact."
"I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms," said Greenspan.
Alan Greenspan gottt into an act of interest rate repression until 2004. In 2004-5 Greenspan raised rates, and the economy shuddered again. He did not want to be the bad guy who wrecked the economy so he retired. In 1999 he had been hailed by Time Magazine as one of the three men who saved the world.
Then of course came Ben Bernanke with his QE and ZIRP to try to keep the world saved. Did he save the world???
47 threads about the fed you’ve made in 63 months as a member.
Yes, because most of you are clueless and blind to see what is going on. No real economic growth for 20 years. For 20 years the Fed is SIMULATING or FAKING economic growth and stealing + spending money from our kids and grandkids.
It seems that some of you don't want to know the TRUTh and want to continue believing in FAIRY TAILS.
Look, I understand why some of you are attacking me, trying to discredit me and hate what I post. You are Fed's creation. Bunch of SPECULATORS who wouldn't even exist today without the ZIRP and QE.
There are no speculators without policies of the Greenspans and Bernankes.
Look, I understand why some of you are attacking me, trying to discredit me and hate what I post. You are Fed's creation. Bunch of SPECULATORS who wouldn't even exist today without the ZIRP and QE.
There are no speculators without policies of the Greenspans and Bernankes.
It isn’t as much what you post , it is how much you post the same stuff over and over ad nauseam….
Complaining and whining daily accomplishes nothing …no one can change a thing …complaining over and over is futile..it reaches a point few really care what you spew about the fed because it is the same stuff over and over and it is what it is.
Look, I understand why some of you are attacking me, trying to discredit me and hate what I post. You are Fed's creation. Bunch of SPECULATORS who wouldn't even exist today without the ZIRP and QE.
There are no speculators without policies of the Greenspans and Bernankes.
There are two great tragedies in life. One is never getting what you want and the other is getting it.
Like most central banks, the US Federal Reserve has been forced to ask why more than a decade of ultra-loose monetary policy has had such lacklustre economic results.*
Bingo spot on. The FED is horrible. Driving home prices through the roof and causing costs of other things to rise fast as well.
Their ability to create money at will needs to be stripped. The gold standard needs to return.
Not fair nor right for responsible savers who want to save and pay cash for big ticket items like RVs, boats, cars, let alone land or homes!!
The gold standard is unworkable. There's not enough gold to cover the amount of money in circulation. It also ruins liquidity, reduces the ability of people and businesses to raise capital, and is all in all a "really bad thing"
Quote:
Originally Posted by C2BP
All the Fed had to do back in 2001 is to gradually start to raise interest rates and we would
NEVER experience the housing bubble 1, real estate and market crash in 2008, housing bubble 2.0 now and inflated markets with stolen taxpayer money from the future. Inequality in America would never be at this level, homeless population would never explode and be like today. Our national currency would be STRONG and our debt level would be minimal.
The FED is a failure of epic proportions.
Were you alive in the 80's in Texas? My parent's mortgage was 11 percent. Their house payment was more than mine now, on a loan amount one third of mine.
Quote:
Originally Posted by C2BP
The out of control FED has been consistently destroying America and our national currency since 2001, making us weaker and weaker + more dependant on centrally planned economy and monetary shenanigans. Classic Capitalism doesn't exist in America anymore and what we have is Corrupt Capitalism or Socialism for the Rich. This Criminal Cartel has more power today then ever before and FED Expat Janet Yellen is our Treasury Secretary now.
But, back to your foolish question. No one can predict what you are asking, same as no one can predict the MARKET CRASH. For the FED, there is NO GOING BACK NOW. THEY HAVE TO RIDE THE DRAGON to the end of the road. Think about what such an implosion REALLY ENTAILS. There will be a generation of deprivation and probably a world war to get through. Going back to Classic Capitalism would cost a very HEAVY PRICE. Think of 1930-1945, and triple it. DEPRESSION; REVOLUTION; STARVATION; WAR.......that is what happens when economies collapse.
Sure eliminate the Fed because the boom and bust cycles of the pre-Fed era were so much better. That's sarcasm. The Great Depression was largely caused by a lack of liquidity. There was literally no cash anywhere. I don't want to return to those days, why do you?
The gold standard is unworkable. There's not enough gold to cover the amount of money in circulation. It also ruins liquidity, reduces the ability of people and businesses to raise capital, and is all in all a "really bad thing"
Were you alive in the 80's in Texas? My parent's mortgage was 11 percent. Their house payment was more than mine now, on a loan amount one third of mine.
Sure eliminate the Fed because the boom and bust cycles of the pre-Fed era were so much better. That's sarcasm. The Great Depression was largely caused by a lack of liquidity. There was literally no cash anywhere. I don't want to return to those days, why do you?
What is this? A voice of reason from the void. Stay awhile traveler.
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