By the end, this was true. But remember oct, 1987 or 1994 or Irrational Exuberance in Dec, 96. I suppose he really came into his own around Oct, 98 when he bailed out the big players after the LTCM debacle. But that was about 11 years into his tenure. Bernanke, as of yet, is unproven and he has already broken protocol with some of his maneuvers.
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Is Chairmen Bernake Incompetent?
- Thread starter mahram
- Start date
By the end, this was true. But remember oct, 1987 or 1994 or Irrational Exuberance in Dec, 96. I suppose he really came into his own around Oct, 98 when he bailed out the big players after the LTCM debacle. But that was about 11 years into his tenure. Bernanke, as of yet, is unproven and he has already broken protocol with some of his maneuvers.
Greenspan was the incompetent one. 1% interest?? Wtf did he think was going to happen??
John
John
Quote from jerryz:
nobody gets appointed to any government post based on competence to do the work. they get appointed because they are a political ally.
Interesting that the smartest post was completely overlooked in the thread. Only goes to support my ideas about what is due to happen in USA in the next 3-4 years. The masses are clueless.
If Bernarke had brains he would either be A) embezzling whatever he could and moving assets offshore or B) starting to overhaul the US financial system. Can't tell if he is doing A) but he certainly is not doing B).
He is set up to be the scapegoat that takes the dive. I think he knows it, expects it and was selected for this reason.
ivanovich, can you explain why bernake would even remotely around business people, not to mention even tell maria bartimono, something he would now move markets. I wonder how much bernake spills to other people people in private.
Quote from Ivanovich:
Agreed - let's see any of you armchair quarterbacks do any better.
Of course, another possible interpretation of this affair is that Bernanke is not a fool but understood perfectly well what would happen. It was his way of telling dollar and government debt shorts, fool with me and I'll hurt you.
Quote from mahram:
ivanovich, can you explain why bernake would even remotely around business people, not to mention even tell maria bartimono, something he would now move markets. I wonder how much bernake spills to other people people in private.
I'll tell you what I think just as soon as you learn how to spell his name correctly and form a grammatically correct sentence.
Please.... more than likely.... During a fed mtg everyone agrees (along with almost all semi-knowledgable Americans) that with the numerous rate hikes and a "cooling" housing market, they might be in danger of raising rates too far. Subsequently each and every one of them makes a comment to the press in that regard. This results in unfounded buying across a market that was already overbought.
What is the best course of action? Go tell a reporter that everyone is over-reacting to the recently released news. What does he get for it? A market that overreacts the other way.
He was dumped into a bad situation. Greenspan went too far by lowering the rate to 1%. It's no win for Bernanke.
What is the best course of action? Go tell a reporter that everyone is over-reacting to the recently released news. What does he get for it? A market that overreacts the other way.
He was dumped into a bad situation. Greenspan went too far by lowering the rate to 1%. It's no win for Bernanke.
They've gone from a doddering old fool who screwed the whole economy with his lack of faith in the Y2K sollutions the engineers provided to another bumbling jackarse / talking-head within the Moeny Boys club.
Some day somebody is going to realize that both the FED and the Tax systems were never ratified by the States and are technically illegal. It's always been a slight-of-hand PR scam (..like non-gold backed currency..) designed to hose us all.
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Some day somebody is going to realize that both the FED and the Tax systems were never ratified by the States and are technically illegal. It's always been a slight-of-hand PR scam (..like non-gold backed currency..) designed to hose us all.
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