I pray Obama replaces Bernake ASAP

Quote from Jayford:

".. growth in GDP has become the main goal.

maybe we should just scrap the FED?
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Let's not forget that "growth in GDP" actually means, "THE APPEARANCE OF GROWTH BY INCLUDING MONEY-PUMP INFLATION". Hell, we could have negative goods and services output but measure it in "prices.. including inflation".. and call it "GDP growth".

And as for "getting rid of the Fed"... Andrew Jackson did the equivalent during his administration.... which is one reason why he is a genuine American hero!

Unfortunately the Fed was reinstated in a dark back room on a cold and gloomy night.... with lots of payola to dishonest politicos.
 
Anyone can go and read the FEDs flow of funds report. It gives the breakdown of many financial flows. The last 10 years has been the greatest credit explosion ever! If credit is increasing at 12 percent a year then interest rates are way to loose.

What are the chances that now the bust drags credit down to unimaginable levels? What are the chances the whole banking system fails?
 
That's the right answer...I had hoped you would say as much.

Fed Act of 46

Fed Act of 77

bastardized the Fed.



Quote from Jayford:

This is very true as they were originally created, but they changed about 20 years ago. Its growth and price stability, and has been for quite some time. I've lost track of how many times Greenspan and Bernanke have come outright and said that's their job. It used to piss me off, but I've accepted it. Yes, the two are often at odds with each other, which is why its such a tough job.
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Inflation is the least painful way for US to dig out the debt hole.

If Obama is elected, then the spending will increase, dollar will weaken further. How is that going to help?
 
I know we create a time machine Go bac to 1913 and prevent to creation of the fed and why not the irs too they came to life in the same year.
This same year also the orginal 13th amendment was magically removed and replaced,, it mandated no titles of nobility into office ie lawyer's

With this magical time machine we can take care of the fed the irs and obama all at the same time.

Now someone go make me a time machine, Make sure it runs on political bullshit that way no matter the year itl never run out of
gas.



:D
 
Obama really is NOT electable as President of the USA...whatever chance he may have will be be shot down by his wife, because she simply cannot keep her trap shut...I guarantee you she will blow it for him.

Isn't a pity that we have such a poor selection of candidates?

I feel sick that the USA will be a laughing stock to the ROW.

As for Bernanke...give him a break ....I feel that he stepped into quicksand (the economy) that is about to meet its "maker'"...there is NO escape...no Houdini, no Steve McQueen!
 
Does anyone think this whole thing is a plot by the Bush/Cheney crew to drive down the dollar, up the price of crude so that by the time there guys get the oil flowing from Iraq they can make more record profit and push congress and the American people into drilling we we haven't, giving them another source of millions?

Just a though. Maybe HAL is a good long option.
 
Quote from jamis359:


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People need to stop thinking about themselves for a change and start thinking about helping the country.

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Hell with the leftists (includes obama). Greed is good.

" It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.

As every individual, by pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it."

The Invisible Hand
by Adam Smith
in The Wealth of Nations
 
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