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yes, this is a financial meltdown, don't say it's not. anyone in defense to this statement is either ignorant, in denial, or too optimistic.
anyway, some people have told me that ben bernanke is a great depression scholar and therefore, is the perfect man for the job he has. now, if that's the case, why are we on the verge of another plausible total market crash? did he not foresee it when he took over for greenspan? he was silent then, what was he hiding? or better yet, is he the great depression scholar he thinks he is?
some people say he's doing a great job.... at what? because i don't agree at all! he's only treating the symptom, not the disease. it will get worse. why did he not catch the coming credit crunch at an earlier time to help mend markets proactively rather then reactively?
He's an expert on how to get out of an existing depression, not on how to prevent one.
Quote:
Originally Posted by SouthCali4LifeSD
yes, this is a financial meltdown, don't say it's not. anyone in defense to this statement is either ignorant, in denial, or too optimistic.
anyway, some people have told me that ben bernanke is a great depression scholar and therefore, is the perfect man for the job he has. now, if that's the case, why are we on the verge of another plausible total market crash? did he not foresee it when he took over for greenspan? he was silent then, what was he hiding? or better yet, is he the great depression scholar he thinks he is?
some people say he's doing a great job.... at what? because i don't agree at all! he's only treating the symptom, not the disease. it will get worse. why did he not catch the coming credit crunch at an earlier time to help mend markets proactively rather then reactively?
I think we can all agree that from day one of Bernanke's employment he was plotting to drive us into the misery. I use misery loosely b/c i don't see any problems. Darn that Bernanke
Well, I'm no apologist for Bernanke, but events were already moving in this direction when he became chairman of the Fed in 2006. No matter what, he'd be dealing with a tough situation right now.
What I'm stupefied by is his failure, along with that of the Treasury, to come up with some serious contingency plans over a year ago when the cracks really began to show.
Well, I'm no apologist for Bernanke, but events were already moving in this direction when he became chairman of the Fed in 2006. No matter what, he'd be dealing with a tough situation right now.
What I'm stupefied by is his failure, along with that of the Treasury, to come up with some serious contingency plans over a year ago when the cracks really began to show.
this is exactly what i mean... why is he acting reactively to the market as bad news flows in? why couldn't he be proactive and take the initiative 2 years ago when many economic scholars including Peter Schiff, already exploited the coming credit bubble like 3-4 years ago? this is what happens when there is lack of oversight in our financial system and too much deregulation. i'm no fan of government intervention, but i'm especially no fan of CEO's lying through their teeth!!!
Well, I'm no apologist for Bernanke, but events were already moving in this direction when he became chairman of the Fed in 2006. No matter what, he'd be dealing with a tough situation right now.
What I'm stupefied by is his failure, along with that of the Treasury, to come up with some serious contingency plans over a year ago when the cracks really began to show.
Until we stop talking about "deficits" and "government spending" and start talking about who creates and controls how much money we have, it's just a shell game - a complete and utter deception. It won't matter if we pass an iron-clad amendment to the Constitution mandating a balanced budget. Our situation is only going to get worse until we root out the cause at its source.
Because it is a world wide problem and they are not able to get everyone to do the right thing until it is a crisis.
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