U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-07-2008, 11:32 AM
 
Location: San Diego
940 posts, read 2,995,718 times
Reputation: 457

Advertisements

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?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 10-07-2008, 11:34 AM
 
Location: Hope, AR
1,505 posts, read 2,935,875 times
Reputation: 254
He's an expert on how to get out of an existing depression, not on how to prevent one.

Quote:
Originally Posted by SouthCali4LifeSD View Post
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?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 11:48 AM
 
Location: Keller, TX
5,674 posts, read 5,733,386 times
Reputation: 4098
He's not a magician, warlock, sorceror, or wizard.

I'm pretty good at changing a flat tire, but I'm pretty useless to prevent one.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 11:52 AM
 
77 posts, read 224,923 times
Reputation: 44
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
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 11:53 AM
 
28,900 posts, read 50,248,894 times
Reputation: 46362
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 12:10 PM
 
Location: San Diego
940 posts, read 2,995,718 times
Reputation: 457
Quote:
Originally Posted by cpg35223 View Post
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!!!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 12:13 PM
 
19,346 posts, read 17,429,746 times
Reputation: 7519
Quote:
Originally Posted by cpg35223 View Post
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.
Any Fed chairmen is guilty by default.


How Bankers Create Money

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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 12:13 PM
 
Location: San Diego
940 posts, read 2,995,718 times
Reputation: 457
Quote:
Originally Posted by Nepenthe View Post
He's not a magician, warlock, sorceror, or wizard.

I'm pretty good at changing a flat tire, but I'm pretty useless to prevent one.

i'm pretty good at changing flat tires too, but i also know when the treading on my tires are getting pretty low, see what i'm saying?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 12:25 PM
 
Location: San Diego
940 posts, read 2,995,718 times
Reputation: 457
Quote:
Originally Posted by Lulu101 View Post
He's an expert on how to get out of an existing depression, not on how to prevent one.
he's pretty useless then if he can't foresee warning signs... he, after all, is the chief controller on the flow of money.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-07-2008, 12:26 PM
 
485 posts, read 1,738,208 times
Reputation: 387
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.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

¬© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top