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Old 07-15-2008, 04:34 AM
 
Location: Tolland County- Northeastern CT
4,459 posts, read 6,610,318 times
Reputation: 1237

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Amen to that Lincolnian!
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Old 07-15-2008, 04:43 AM
 
Location: Central CT, sometimes NH.
3,605 posts, read 5,328,427 times
Reputation: 3816
Skytrekker,

You're a Connecticut resident as am I. I called Dodd and Larson on Friday and layed out my concerns looking for answers to my questions. I grew up in East Hartford and my family knows John Larson. I asked for a chance to talk to him.

I am still waiting. Unfortunately, many of our elected officials are too busy worrying about their re-election campaigns that they don't have the time to address serious concerns that they were elected to address.

I'm still wondering where is the outrage? Do people not understand the gravity of these issues? Are we all going to sit around and watch as our country's prosperity, security, and way of life is shipped abroad?
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Old 07-15-2008, 05:21 AM
 
3,283 posts, read 4,753,919 times
Reputation: 753
Quote:
Originally Posted by skytrekker View Post
Dr. Bernanke is a nice of enough guy- very soft spoken, smart- but he seems too mild mannered- and hoped to follow in the footsteps of Greenspan using the same kind of economic ideas-namely easy money aka low interest rates, too much liquidity and reflating -this time the housing and financial markets. This time around its not going to work- the dollar is worth a plug nickle with all the 'easy money being printed' which is causing commodities to soar. Bernanke is now bedeviled with stagnant or declining growth, rising inflation and soaring food/ energy costs. Both Greenspan and Bernanke have in the end miscalculated everything- from saying there was no 'housing bubble' to 'there is no sub prime market issue' to saying the housing bust had bottomed- in 2006!

The problems we have today stem from the egregious errors both Greenspan and now Bernanke have created. Despite Dr. Bernanke's impressive credentials - he still basically a political appointee and has had to listen to his master-Bush.

i understand all that, but you're missing the point of the thread. maybe bernanke is doing this on purpose to address american overconsumption and in some way addressing the trade deficit!?!?!?
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Old 07-15-2008, 05:26 AM
 
3,283 posts, read 4,753,919 times
Reputation: 753
Quote:
Originally Posted by Lincolnian View Post
Skytrekker,

You're a Connecticut resident as am I. I called Dodd and Larson on Friday and layed out my concerns looking for answers to my questions. I grew up in East Hartford and my family knows John Larson. I asked for a chance to talk to him.

I am still waiting. Unfortunately, many of our elected officials are too busy worrying about their re-election campaigns that they don't have the time to address serious concerns that they were elected to address.

I'm still wondering where is the outrage? Do people not understand the gravity of these issues? Are we all going to sit around and watch as our country's prosperity, security, and way of life is shipped abroad?

our way of life isn't going to be shipped anywhere. it's just going to end!
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Old 07-15-2008, 06:02 AM
 
Location: Tolland County- Northeastern CT
4,459 posts, read 6,610,318 times
Reputation: 1237
Quote:
Originally Posted by 58robbo View Post
i understand all that, but you're missing the point of the thread. maybe bernanke is doing this on purpose to address american overconsumption and in some way addressing the trade deficit!?!?!?
I do not think this was his hope (Bernanke) he thought lowering rates would have the same 'magical' effect as in the past- remember the 'Greenspan Put'. The market is going to fall again today- I doubt Bernanke wants to see more losses for those with retirement funds- changing demographics are coming to haunt him as well.

That was a different era, under Greenspan in 1987- till recently- different time- the American economic & political system needs to be reformed- the policies of the Fed under Greenspan have proved to be ineffective now- too bad Bernanke despite all his education has failed so badly in not being able to see the profound changes happening in the nation and world.

Perhaps some courses in Sociology and history might have provided Bernanke to see the forest from the trees.

Last edited by skytrekker; 07-15-2008 at 07:08 AM..
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Old 07-15-2008, 08:41 AM
 
2,197 posts, read 6,813,691 times
Reputation: 1687
If Lower-Em-Again Ben doesn't want to see more losses, he should watch his words. His little speech this morning sent an already skittering market into a tailspin. If he had an ounce of "genius" in him, now would be the time to show it. Of course, so much of the damage is already done that it will have to play out... very painfully.
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Old 07-15-2008, 11:07 AM
 
3,460 posts, read 5,069,471 times
Reputation: 6677
In the speech he denied that the dollar has lost 40% of its value over the last 4 years. He claims its more like 25%.
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Old 07-15-2008, 11:55 AM
 
Location: Chicago
38,690 posts, read 91,047,969 times
Reputation: 29523
Quote:
Originally Posted by sterlinggirl View Post
In the speech he denied that the dollar has lost 40% of its value over the last 4 years. He claims its more like 25%.
Ah, well. Now I feel a ton better about international markets' confidence in the dollar.
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Old 07-15-2008, 11:59 AM
 
Location: The Rock!
2,370 posts, read 7,106,571 times
Reputation: 807
Quote:
Originally Posted by 58robbo View Post
i understand all that, but you're missing the point of the thread. maybe bernanke is doing this on purpose to address american overconsumption and in some way addressing the trade deficit!?!?!?
I think you're giving way to much credit for long range thinking and foresight than any current American leader, be they elected or otherwise, deserves.
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Old 07-15-2008, 12:45 PM
 
Location: Tampa Bay
1,020 posts, read 3,111,137 times
Reputation: 444
Quote:
Originally Posted by bale002 View Post
I understand what you are driving at, but we could have achieved globalization in a more orderly fashion without wasting resources, war, and speculation.
The only thing that made the United States a threat IS globalization. Hence the wars. They're one in the same. The United States would have been so much better off if we would have just minded our business like most of our people always wanted. If globalization was such a good idea, it wouldn't need proof. World charity would have answered the call. In reality, anyone that is smarter than a monkey knows that isn't the way the world works.

So i'll ask you and all of the other idealists out there concerning globalization what exactly do you hope to achieve, and how long do you think it will be before all of your works were for nothing? Humans are a different breed, you do not tear down all the walls of the world that were put in place on a notion of trust and Utopia. Its reckless and irresponsible of anyone to assume globalization is an answer. If history tells anyone anything, it is that people put up walls for many different reasons, not all of those reasons were bad. Do you think man is more intelligent than past civilizations? Nothing has changed except for mans ability to destroy more ideals, people, and be more oppressive than ever before because of collective technology. Unless you can isolate a gene which proves to be the illness of all men, and the promoter of all unsound reason, then globalization, and Utopia are both the same fleeting fantasies of mad men.
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