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.
Oh yea, the good ole days when the Democrats refused to hear that that it was all going to come tumbling down because they wanted the banks to lend to people who couldn't pay. Yep, the Democrats refused to listen just like they are refusing to listen when they are told that the government debt is out of control.
Democrats caused the crash.
Bernanke, who predicted this would be an era of the “Great Moderation” back in 2004 and as late as March 2007 assured the nation that the subprime mortgage crisis “seems likely to be contained,” remains a member in good standing of the political establishment.
Bernanke, who predicted this would be an era of the “Great Moderation” back in 2004 and as late as March 2007 assured the nation that the subprime mortgage crisis “seems likely to be contained,” remains a member in good standing of the political establishment.
And he has his buddy Krugman doing propaganda for him.
Oh yea, the good ole days when the Democrats refused to hear that that it was all going to come tumbling down because they wanted the banks to lend to people who couldn't pay. Yep, the Democrats refused to listen just like they are refusing to listen when they are told that the government debt is out of control.
Democrats caused the crash.
Bernanke, who predicted this would be an era of the “Great Moderation” back in 2004 and as late as March 2007 assured the nation that the subprime mortgage crisis “seems likely to be contained,” remains a member in good standing of the political establishment.
I don't think the author is going back far enough. He fails to mention the savings and loan crisis at the end of the 80's which cost the taxpayer just under $200 billion. Read up on it and you'll find it eerily similar to the banking crisis of 2008.
To paraphrase the old, smart guys..."Those who forget history inevitably repeat it."
Stockman has it right. Monetized debt and constant money printing is music to Wall Street's ears. It keeps interest rates low and inflates equities. Now some of those equities are backed up with strong fundamentals but the monetization of debt is killing bonds to an extent. You used to be able to run to cash instruments when equities were getting hit. Bernanke has screwed that up now. I hear the drumbeat for gold yet historically that has not been proven to be the effective hedge it was thought to be. I think that is because the value of gold is measured in dollars. So if cash/bonds and equities tank, how does that not devalue gold? The dollar is shaky right now and people are flocking to gold. Supply and demand dictate a saturation point on gold. And Germany has told the US in February that they want a chunk of their gold back. It may get ugly soon.
It was actions from moain street to wall street. From the congress who encuarged it;to bnakers who prvided it to people who wanted it for their own belief in tis wealth building.One only has to realise that mnay bought and sold and made huge profit off hoising;not all where losers.
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.
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.
