Bernanke HUMILIATED by RON PAUL

[CasperCRF]

 

[TheDudeofLife]

Quote from austinp:

<i>"The facts are that americans only feel the effects of a weak dollar when they purchase foreign products, just like Bernanke said, and contrary to what Paul said."</i>

Oh really?

How about food & beverage purchases? Fossil fuels like coal, firewood, nat gas or oil products?

This country can easily supply all of its own food (and then some) along with enough coal and firewood to heat every building that exists for centuries. We also produce 1/3 of our own oil consumption.

That said, why are commodity prices thru the roof? Why have fuel prices soared?

Weak dollar, driven by interest-rate cuts.

How are the fixed income dependants faring? You know them, the generation who actually saved money instead of squandered it. How are they feeling about rates going lower while prices at the store and in their monthly bill statements going higher?

*

.75pt cumulative cut, and where are stocks trading relative to prior those moves? Lower. How is the credit market? Same or worse.

FOMC and all its ilk are completely powerless. They can keep cutting rates until banks pay you to borrow money. It won't matter. Keep auguring the USD lower and consumer spending will halt. Then what is this U.S. economy based upon?

???

 

[myminitrading]

Quote from HoustonRemote:

That was beautiful. I value a direct person that tells it the way it is. Unfortunately it seems like the opposite seems to prevail. People would rather have someone that’s good at delivering liquid sunshine.

I agree Ron Paul just tells it like it is, americans can relate to that.

I think folks are coming around, americans now can see thru the liquid sunshine.

 

[Cheese]

Quote from jd7419:
You can't be serious. Americans buy foreign goods all the time with their dollars. Bernankes dodge fooled nobody except for you and Steve Leisman. You can not devalue the currency to make your average american prosper. Devalueing has a benefit to multinationals. Thats it.

My criticism was of Ron Paul's ramble. Bernanke rightly did not attempt any serious reply to Ron Paul's jumble of generalities.

It is inflation at a fairly modest rate, year on year, which erodes the real value of the dollar and the value of other currencies in their own countries. The dollar is only a store of relative value at any moment in time. You must choose for your dollars, assets which you hope will increase at, or preferably better than, the rate of inflation. Or you will at least need your savings in dollars to have a yield greater than the rate of inflation.

 

[JDO_Trader]

Quote from Cheese:

Ron Paul showed himself as the real lightweight he is. He is a total clown trying to be the peoples friend when, bottom line, he really doesn't know sh*t from sh*t. Paul's contribution was a jumble of uncorrelated populist concepts with Bernanke looking at this clown to whom no serious answer could be given. The look on Bernanke's face was one of just having to tolerate such inept and imprecise thinking because it can come from mouths of some deadbeat professional politicians like Ron Paul who are going nowhere but who desperately thrive on any public attention they can get

Peace.

OK Ben, whatever you say.
Quit picking your nose too.

 

[palenimbus]

At the end of the video Ron Paul tells bernanke that when the dollar drops by 10%, Americans lose 10% of their wealth. Bernanke responds by saying the obvious which is how Americans are not importing everything they buy so you cannot say -- with intellectual integrity -- that a 10% fall in the dollar = 10% decrease in wealth. Ron Paul then starts talking about some crap, "not if they have all their money in CDs", not even related to his dollar statement.

Ron Paul really pretends to know more about economics then he really does but he comes across like a total fool.

 

[Reaver]

Quote from palenimbus:

At the end of the video Ron Paul tells bernanke that when the dollar drops by 10%, Americans lose 10% of their wealth. Bernanke responds by saying the obvious which is how Americans are not importing everything they buy so you cannot say -- with intellectual integrity -- that a 10% fall in the dollar = 10% decrease in wealth. Ron Paul then starts talking about some crap, "not if they have all their money in CDs", not even related to his dollar statement.

Ron Paul really pretends to know more about economics then he really does but he comes across like a total fool.

Uhh yeah the reply from Paul was relevant actually.

 

[atticus]

I am a fan of Ron Paul, but he was out of his depth.

 

[austinp]

<i>"I am a fan of Ron Paul, but he was out of his depth.</i>

That is true, but at least he tried. Millions of strapped U.S. consumers appreciate the effort of attempt.

 

[smilingsynic]

Quote from stock_trad3r:



The rise in commodities and Euro isn't inflationary

???!!

The rise in commodities prices is not just inflationary. It is evidence of inflation.

One reason why inflation in general is not up more is because some other items cost less than they used to. Another reason has to do with how the Feds actually define "inflation"--and I have neither the energy nor time to go over that now!