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Agreed. I have no sympathy for those who didn't do their homework before attempting to make a quick buck.

Agree on the first three points.

I don't think you understand the potential implications on the banking system and the economy had the Fed done nothing.

Please - explain to me how I am wrong. Oh you can't and are simply flaming? Shock me. WW1 was the straw that broke the British Empire's economic dominance. Refute this statement with facts and I will respectfully concede my position.

1. You are entitled to hate as many people as you want LOL It certainly is bullshit that the taxpayer is on the hook for for bad mortgages thanks to the Fed, but I think the problems would be much worse if those banks were bankrupt and all confidence in the financial system was gone. In short...

When your prediction comes true, then you can say I'm wrong. My crystal ball doesn't predict the future as well as yours I guess.

Look at the revision history over the past year or two.

1. I sympathize with your situation and your anger is justified. But I believe your anger should be directed toward congress not Bernanke. He is not the one creating elaborate stimulus packages. 2. You have been reading S2007S' posts for too long :D . Go to forexfactory.com and view...

Dollar devalution will make USA goods more attractive. Couple that with yuan appreciation (more than likely to come given China's recent rhetoric regarding the need to increase domestic consumption). I believe that USA exports will inevitably increase because of these two events. Doubling...

My thoughts exactly. It is not Bernanke's responsibility to determine how the government spends money. I think he's taking the blame because most people think in terms of quantitative easing = money printing = dollar devaluation = end of USA supremacy. Congressional policies are much more...

Indeed, GDP growth ideally comes from the private sector. But if objectives are met, private sector will pick up where government left off once stimulus is withdrawn. Therefore, the current government spending is necessary in the long run. Maybe not to the extent the USA is currently...

1. I am not disputing a potential downward revision. The exact final number is irrelevant. 3.5% to 5.7% all means the same thing - healthy Q4 economic growth in the USA. 2. The Chinese did not have to say anything. The fact that they made a point of saying they believe USA numbers but...

Obviously there is a certain amount of conflict of interest, but it is necessary and can be no other way. Who other than scientists are qualified to review the work of a scientist? Who would you like to review scientists work? The Pope? This is not rocket science... (bad pun intended)

Did not know you were so cynical. In the everything the government tells me is a lie camp. To each his own. Even the Chinese admitted that they believe economic data coming out of the USA. Also, I am thrilled that Bernanke was confirmed. I am willing to bet you and your kind are not?

Reminds me of that Seinfeld episode where Elaine is bitching about having to shake everything before you open it.

It's not determined; it's confirmed or discredited.

For some reason, I find this thread highly amusing! :D

The dollar will not collapse, despite the rhetoric. Think of Britain's debt after WW2. Is the pound still around?

Believe the number (subject to a minor downward revision possibility). Everything the government tells you isn't a lie... Inventory restocking. Don't expect this type of growth in the future, but the reality is that USA economy is miles ahead of where it was a year ago. Been keeping up...

I was speaking economically. It could even be argued that WW1 was what broke the back of the UK economically.