You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Bernake Killing Middle Class
- Thread starter Hitnruntrader
- Start date
we need to legally open our domestic currency market for competition.
the dollar should have to compete for its role in everyday domestic commerce
the dollar should have to compete for its role in everyday domestic commerce
Quote from Avid_Consumer:
we need to legally open our domestic currency market for competition.
the dollar should have to compete for our favor in everyday domestic commerce
Do you think we could stand it? Perhaps being the world's reserve currency [at least for now] is the only reason the dollar is still as high as it is.
Quote from gnome:
Uhhh.... it would be "we the people" who would bear any cost of a trashed currency.
The Gummint never "bears" anything.
totally, i agree. we're already bearing it. i'm just thinking along the lines of simple economic solutions to the govt's ability to trash the currency at ordinary ppl's expense
(this also under the assumption that the dollar is in the process of failure, and we're going to have to move on and bear these costs either way)
Quote from Hitnruntrader:
Would like to get some opinions on this.
I cannot begin to even comprehend what is taking place in the USA today.
Once again Bernake bails out the banks. QUESTION.
Do Americans realize what is taking place here. Do they realize that the banks are being bailed out only at the expense of the middle class????
It's pretty funny how you BLAME Bernanke for everything given that the current Administration for the past 7 years has had no problem allowing the US Dollar to go into free fall . . . When Bush appointee Treasury Secretary Paulson said over the weekend in an interview that the Administration has always been an advocate of a STRONG DOLLAR policy, I wanted to spit in his face. What a joke this Administration is. Literally every single Bush appointee has been shown to be incompetent, from Rumsfeld to Michael Chertoff to Gail Norton, to Christine Todd-Whitman to Roberto Gonzales, etc.
Furthermore, you make no mention of his predecessor, Alan Greenspan and his "easy" monetary policy.
The banks are not necessarily being "bailed-out". There is a big difference between adding liquidity into the banking system and facilitating credit creation and simply buying back bad loan portfolios. A big difference, but you fail to mention that which tells me that you do not have a complete understanding of what is currently going on.
By the way, what would you like to see Bernanke do . . . Raise rates to try and curb the rise of a Global Commodity like crude oil and send the country into a complete DEPRESSION???
Without credit creation the Economy does not grow, it contracts . . . sending the unemployment rate dramatically higher.
This is not a typical Economic cycle.
And those of you that are advocating that Bernanke shouldn't be helping to ease the current DEFLATION and "de-leveraging" of the banking system fail to grasp the magnitude of this.
Quote from makloda:
The middle class has to blame their own spending habits, not Bernanke.
Did Bernanke
- himself install a government that spends trillions of US tax payers money on overseas wars? Or was that tens of millions of middle class bible belt voters?
- force the middle class to buy overvalued homes with zero money down?
- suggest to them to go year after year with a negative saving rate?
- recommend the middle class to live a life way above their means like the rich and famous, having 8 credit cards each and abusing their home as an ATM so they can buy a 3rd BMW/Mercedes/Porsche and a collection of Louis Vuitton bags for the wife?
good points.
i'd say the fundamental reason behind america's being underwater sinking in debt are deep changes in society, particularly women... over the last decades
"honey, buy me a dress, honey buy me this lovely pink convertible, honey we need bigger house, my stuff doesn't fit in the current one" etc. guys are no better, manipulated by their greedy women they spend, spend, spend.
now look at chinese and japanese women and their relations with men: totally different picture. results: these countries are sitting on cash, savings, reserves.