Ben Bernanke: Someone pay him to go & study the Great Depression or do anything else

In hindsight, he could have done things earlier and more decisive. Paulson, too.

One thing (IMO) is for certain. Had we gone down the Jim Rogers/Peter Schiff road ("Brokers and insurers have failed before, let them all fail, let's clear out the system right now. Nothing bad will happen if we let everything fail.") we'd be in the middle of Depression 2.0 right now with bank runs around the globe.

Thinking about it, Bernanke could have done much butter but also a lot worse.
 
I think our biggest disagreement is that I want a recession or even worse, so long as it flushes out the toxins, kills the bad actors, and allows the laying of a healthy foundation for future economic growth of the job-producing, robust kind.

The last thing to do is confiscate savers' wealth, and give it to precisely the imbeciles that blew the largest chunk of wealth in history, so that they can wash, rinse and repeat.

Bernanke is taking his cues from Greenspan, trying to stave off a contractionary, 'flushing out' period.

Take the damn antibiotics, which may make you hurl at first, but will kill the infection; don't take the painkillers, allowing you to feel less pain as the disease gets worse.
 
Quote from ByLoSellHi:

What an idiot.

Plosser and Fisher are the only fed members who have an iota or scintilla of intelligence.

I believe Bernanke is trading commodities actively, hoarding oil, gold and grains.

I'm sure this quarter point cut today is really going to do a lot for the U.S economy.

Thanks for the $4.50 gasoline, Ben. And the $4 milk and $3.50 per loaf bread.
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Rates are lower than ever and food, oil, and gas prices are falling.
 
Bernanke Panke is causing a great depression right now. He's a scholar and an architect.

By the way stfu stock_trad3r, please, just go short and get with the program. How's your tech stock shit holding? AAPL from 200? BIDU from 350?
 
Quote from Pa(b)st Prime:

Ah. Now I've figured out why you support Obama. Very clever!
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You can't bait me into saying you literally took me out of context.

Or can you?

On a more serious note, Pabst, being the elder, seasoned (jaded, cranky, etc.) person you are, what the hell is your problem with the business cycle?

You're all for perpetual bubbles blown by the bloviating Bernankes and Greenspans of the world, but you'll be there to bitch and moan when the perpetual bubbles thought-to-be blow up, and the medicine is 100x more bitter delayed?
 
When have you ever heard me say I'm not into the death and destruction of bloated economies? You know I was short all of 2007 and much of this year. Unfortunately I was also short ZB all year and EUR too heavy too early. Still a good year but shoulda been great. C'est la vie.

I take the other side of many arguments here because the logic is faulty, i.e. the poster who said Greenspan's cuts were reckless but Bernanke's needed. It takes a lot to get me to defend Greenspan BUT the 01-02 economy was JUST AS BAD as this. At least on Main St.

I'm all about high rates, balanced budgets and small virtually non-existent government. As you know I'm a Ron Paul guy too. Against that backdrop you can only imagine my disdain with Obama voters. Literally may God or an AK-47 drop them in their tracks. :)


Quote from ByLoSellHi:

You can't bait me into saying you literally took me out of context.

Or can you?

On a more serious note, Pabst, being the elder, seasoned (jaded, cranky, etc.) person you are, what the hell is your problem with the business cycle?

You're all for perpetual bubbles blown by the bloviating Bernankes and Greenspans of the world, but you'll be there to bitch and moan when the perpetual bubbles thought-to-be blow up, and the medicine is 100x more bitter delayed?
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