Bernanke popped the real estate bubble

[Thunderdog]

Quote from DeepFried:

So why doesn't he ever get any praise for deflating the ridiculously overinflated real estate market? I say "good work, Bennie!" Mission accomplished. We all owe him our thanks. Don't we? After all, there's nothing worse than inflation.

I can only guess that your chosen ET name was DeepFriedBrains, but it was too lengthy and was therefore truncated.

 

[crgarcia]

Quote from Brandonf:

"In the absense of the gold standard, there is no way to protect savings from confiscation via inflation. The financial policy of a welfare state requires that there be no way for the owners of wealth to protect themselves"

This is why tax cuts are needed in an inflationary environment.
Even if fiscal deficit may increase inflation a bit.

 

[gnome]

Quote from crgarcia:

This is why tax cuts are needed in an inflationary environment.
Even if fiscal deficit may increase inflation a bit.

NO. What we NEED is fiscal restraint from the Gummint! E-V-E-R-Y-T-H-I-N-G else pales by comparison.

 

[Brandonf]

Quote from crgarcia:

This is why tax cuts are needed in an inflationary environment.
Even if fiscal deficit may increase inflation a bit.

Ive pontificated on tax stuff numerous times here on ET. If I was king of the world I would start off by lowering capital gains tax. At the very least allow people to discount inflation from the gains tax that is paid, but ideally cut them at least in half. Short term capital gains same thing, though it would probably be harder to justify, and if they did stay the same it would not be the end of the world. Corp. taxes should also be lowered, a lot, we have the second highest rate in the developed world, with such high taxes it is little wonder that jobs are leaving. And finally we need a government that realizes its fiat currency in the long term is only as good as its finances, we are already seeing this with the dollar. The government needs to tighten its belt up, certainly nothing good is going to come out of adding all of the social programs everyone seems to be screaming about wanting.

 

[RhinoGG]

I make about 28,500 in income from my job at the "mart". But, I told Countrywide I made 220k/yr when I applied for my mortgage of 750k a few years ago. I havent made a mortgage payment in over 9 months since the rate reset, but we're still in the home. I figure we'll just walk away from in in a few more months, you know, in the summertime when the livin is easy.

Do you think I may be part of the problem.
Oops, sorry bout that 'merica.

 

[DeepFried]

Quote from gnome:

Man, are YOU out of the loop.

Bennie has done virtually everything in his power to pump up, then PUMP UP the RE market. He's mostly caught in the mess GreenScam made, but both of them deserve no less than a few swift kicks in the balls.

Bernanke is a MONSTER INFLATIONIST...

Inflation = loss of buying power = currency debasement = confiscation/theft of citizens' assets.

So the real estate bubble has not been popped? I'll be darned. My mistake. Well, not just mine. Apparently, the entire real estate market is operating under some kind of mass delusion.

 

[gnome]

Quote from DeepFried:

So the real estate bubble has not been popped? I'll be darned. My mistake. Well, not just mine. Apparently, the entire real estate market is operating under some kind of mass delusion.

Yeah, might have been "popped", but had NOTHING to do with Bernanke... he's been fighting toot and nail to NOT allow it to pop.

 

[DeepFried]

Quote from Jayford:

Deep Fried....

You are an IDIOT.

You have no clue of economics.

None.

ZERO.

Jay

This is the type of well-reasoned, intelligent, philosophical counter-argument I've learned to expect and enjoy here at TrailerTrader.com.
Thanks for rising to the occassion, Jay! Good work!

 

[DeepFried]

Quote from Brandonf:

How is that "conspiracy theory". Anyhow who took econ past the high school level, or for that matter just has a bit of common sense, knows that what gnome said is true. If you have inflation, the average person's buying power goes down, as the currency is debased buying power goes down even more. Its a convenient way for a welfare state to steal the assets of its population. Greenspan himself said so when he was an economic advisor to Ford: "In the absense of the gold standard, there is no way to protect savings from confiscation via inflation. The financial policy of a welfare state requires that there be no way for the owners of wealth to protect themselves"

This is a direct quote from the Meastro himself. You can find the entire article in Ayn Rands "Capitalism, the unknown ideal". Mr Meastro's work can be found in the article titled Gold and Economic Freedom, which runs from page 96 to page 101 if your really curious.

Yes, as I've been informed by gnome, the real estate bubble has not been popped and, even if it had, Bernanke had nothing to do with it.

 

[gnome]

Quote from DeepFried:

Yes, as I've been informed by gnome, the real estate bubble has not been popped and, even if it had, Bernanke had nothing to do with it.

Hey man, if you're gonna talk SHIT, don't attribute it to me. I never said "RE bubble has not been popped"... maybe it has, maybe not. But if so, it has NOT "been popped by Bennie", but rather "over his dead body". He's fighting tooth-and-nail to keep it afloat. (Just one of the reasons he's a pipsqueak little cocksucker, who promised to kiss Bush's ass to get the job, and should NOT be Fed chairman. Where are Paul Volker and the next Andrew Jackson when we need them? You don't understand the relevance of these pleas? Perhaps you'd benefit from studying some American and World financial history...)

Andrew Jackson's likeness is on American Currency. Why is that? It's because he's a great, GREAT American leader and hero!!

If you don't understand what he stood for and what he did, you NEED to look into it. If you did, you'd PUKE, P-U-K-E on Bush, Hillary, Bill Clinton, Obama... none of them represent the DUNG of 2 DEAD FLIES by comparison to TRUE American leaders...

All[?] of the politicos today are little more than self-serving, lying, thieving SOBs who want to exercise power over the American people and line their own pockets from the public purse. If you believe otherwise, you need to pull your head out of your ass!