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They guided us through one of our darkest times very well.
Bernanke did a great job.
But the thing is Yellen is uninspiring in that sense.
She has 2 basic things to do.
Normalize rates and shrink the balance sheet.
So far she's a dud.
But i'm pretty sure Bernanke will get his Nobel prize.
Your haiku is all wrong.
But anyway, normalizing rates and shrinking the balance sheet are actions that should be taken as the economy recovers enough. It hasn't, as evidenced by slow growth and underemployment.
after the devastation of the 2008 collapse to the financial system the fact there is any growth and we are doing as well as we are i think is pretty amazing .
we had sold two manhattan co-ops in 2008 and multiple banks for both buyers reneged when it came time to close because they had no money to loan .
it took 6 months to finally find banks that actually came across with money . the lack of liquidity in the banking system was insane .
you don't recover that quickly from the severe damage that was done both to the population and to company's . many folks took pay cuts or had to take lower paying jobs and still have not recovered .
Last edited by mathjak107; 03-17-2016 at 07:39 AM..
after the devastation of the 2008 collapse to the financial system the fact there is any growth and we are doing as well as we are i think is pretty amazing .
we had sold two manhattan co-ops in 2008 and multiple banks for both buyers reneged when it came time to close because they had no money to loan .
it took 6 months to finally find banks that actually came across with money . the lack of liquidity in the banking system was insane .
you don't recover that quickly from the severe damage that was done both to the population and to company's . many folks took pay cuts or had to take lower paying jobs and still have not recovered .
Because people borrowed money that couldn't afford to.
And now the government is so desperate to get people to spend money they are considering negative rates.
An economy based on people buying crap they don't need can't possibly continue to sustain itself.
What happens if Wall Street goes flat for the next ten years?
The bank will steal your money, whether interest rates are high or low. That is what they do. No one wins with interest payments on savings alone.
I'm thrilled they're still low from the perspective of someone repaying a home equity line. I am in the repayment portion and have 3.5% interest at this point in time. I am slamming out the payments to get this down quickly.
An economy based on people buying crap they don't need can't possibly continue to sustain itself.
But nowadays we only need a small portion of the population to provide our necessities. Are you saying we can't possibly have a successful economy with current technology?
after the devastation of the 2008 collapse to the financial system the fact there is any growth and we are doing as well as we are i think is pretty amazing .
we had sold two manhattan co-ops in 2008 and multiple banks for both buyers reneged when it came time to close because they had no money to loan .
it took 6 months to finally find banks that actually came across with money . the lack of liquidity in the banking system was insane .
you don't recover that quickly from the severe damage that was done both to the population and to company's . many folks took pay cuts or had to take lower paying jobs and still have not recovered .
There was a time when if you wanted something, you would work, save your money, and then purchase what it is you desire.
If people are being forced to work for less, as you suggest, than obviously the system in place is not working in their favor.
Our nation is very paper rich, and banks are a big part of that. Without a strong, centralized banking sector, asset prices would plummet, and we would all become poorer on paper. But everything would be more affordable for the masses, and we could begin building a functional economy that is not dependent of voodoo economics and criminals in suits.
for most folks buying big ticket items for cash would be waiting so long for that ship to come in the pier collapses
If you cannot afford it, than you should not buy it. If no one can afford it, than perhaps the asking price is out of whack. Or perhaps it's simply not needed.
If you cannot afford it, than you should not buy it. If no one can afford it, than perhaps the asking price is out of whack. Or perhaps it's simply not needed.
The free market is a wonderful thing.
Do you think wealthy people never purchased any assets that they didn't have cash to pay for outright? There's nothing wrong with using debt as a leveraging tool if you know what you're doing. It can be profitable. There's also nothing wrong with purchasing a tv on credit. A big part of life is about happiness. You can't take it with you
Yellen is very political. I think it's wrong not to normalize.
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