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.
"We're not making it up," Bernanke told the House Financial Services panel.
"We're working along a program that has been applied in various contexts."
"We're not completely in the dark."
Mish Translation:
"We're making it up as we go along"
"We have no idea what we are doing so the program changes every day"
"We are completely in the dark"
Oh Benjamin Shalom Bernanke knows EXACTLY what he is doing. Now obviously it is not wise to actually tell the slaves what that is The sheeple are happy to be slaves as long as they have a morsel of food in the refrigerator. No need to incite them. No benefit to the chosen families in doing that.
This entire joke of a "crisis" is nothing more than a further consolidation of the power in the hands of the real banks. Create a "crisis", "fund" the solution, increase the debt of the slaves to "justify" and resecure eternal bondage. Nothing new, it happens again and again, here and abroad.
Don't despair. All of our "friends" ,or "civilized" nations, are in the same situation, owned by the same people. Now get back to work to produce wealth for their empire
Mike Shedlock. Another in a long and rather boring line of whackjob internet finiancial guru wannabes blogging as a means of shilling for his financial advisory service. I'd rather stick with Madame Adaro down the street...
Mike Shedlock. Another in a long and rather boring line of whackjob internet finiancial guru wannabes blogging as a means of shilling for his financial advisory service. I'd rather stick with Madame Adaro down the street...
Except this 'whackjob' is actually right most of the time.
Except this 'whackjob' is actually right most of the time.
See logic statement above. Mish predicted the collapse but the "and" statement is also satisfied because he is not a Keynesian retard, therefore the variable internet_whackjob = true.
Krugman predicted the collapse but is part of the keynesian retard club, so internet_whackjob = false
Bernanke didn't predict the collapse so the if statement short circuits and we have internet_whackjob = false
See how easy that logic is to follow? Actually, I should add a government_shill variable in there somewhere.
See logic statement above. Mish predicted the collapse but the "and" statement is also satisfied because he is not a Keynesian retard, therefore the variable internet_whackjob = true.
Krugman predicted the collapse but is part of the keynesian retard club, so internet_whackjob = false
Bernanke didn't predict the collapse so the if statement short circuits and we have internet_whackjob = false
See how easy that logic is to follow? Actually, I should add a government_shill variable in there somewhere.
Mish is usually right - in fact, I cannot point to any instance where he was wrong.
So the secret translation is that what ever the Fed chief says you just imagine he secretly said the exact opposite? That doesn't sound very convincing to me. Everyone knows banks are zombified (owe more then they have in assets) and the way forward is perfectly clear; you follow the one successful approach, the Swedish approach and you nationalize the zombie banks, slice them and dice them to form as many competitive & viable national banks as possible, more the bad assets to the government's ledger, and then reprivatize them. If you just give them money without nationalizing them (as Bush did) then the money gets spent on the wrong stuff while the bailout increases moral hazard (the belief that if investors screw up Uncle Sam will ride in to the rescue) but nationalizing them wipes out the shareholders who made poor choices thus decreasing moral hazard. Plus nationalization is the fast way to reorganize these banks and get them into living entities again.
Unfortunately, Obama doesn't seem to want to do this. He seems afraid of being called a socialist by the snot nosed Republicans who caused this whole mess. Frack the Republicans and just follow the model the Swedes used in 1991. That's the proven path to success. Right now we seem to be following the Japanese model of half assing things but not really solving the underlaying banking problem which is what is strangling the economy.
Pelosi his master won't let him just let it collaspe, she loves the power and socialism
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.
The sheeple are happy to be slaves as long as they have a morsel of food in the refrigerator. No need to incite them. No benefit to the chosen families in doing that.
