So, now do the sheeople believe we are in a Depression?

[likeinsights]

Quote from EMRGLOBAL:

Fed's...OUTA credibility and zero confidence vote among the smart money.

Bernanke has my trust, he is much better than his european counterparts or Greenspan.

Quote from EMRGLOBAL:

JAPAN had a manufacturing base, yet it took them 20 years to try and dig out of their Assets Bubbles and their Over Leveraged Economy.

The US has nothing. 70% consumer base that will shrink to half that in a few years. Great Works Projects coming to the table will employee few and have zero effect on GDP.

Interesting idea to assess whether having a manufacturing base will have an impact!
I am confident in US and western economy because manufacturing is overated. If it took china 15 years to become a large manufacturing country, it will take the US less than 5 years to become one should it be needed thanks to much higher level of education and infrastructure. I doubt it will be needed though!

 

[4PurposeLiving]

Quote from Bob111:

looks more like a stagflation to me..

It looks that way because we are on "artificial life support".

 

[Larson]

Quote from Bob111:

looks more like a stagflation to me..

Yeah, at the moment. Instability underneath is worse than anything experienced in the late 1970's, though. Very unsettling.

 

[Grandluxe]

Quote from likeinsights:

Bernanke has my trust, he is much better than his european counterparts or Greenspan.




Interesting idea to assess whether having a manufacturing base will have an impact!
I am confident in US and western economy because manufacturing is overated. If it took china 15 years to become a large manufacturing country, it will take the US less than 5 years to become one should it be needed thanks to much higher level of education. I doubt it will be needed though!

There are too many factors. China did in 15 years what it took 100 years of the Western industrial revolution to accomplish

 

[morganist]

Quote from Bob111:

looks more like a stagflation to me..

No it is worse than that. There is debt that cannot be paid off.

 

[morganist]

Quote from Larson:

Bernanke has become the CFO of a bankrupt nation, soon to get his pink slip for mismanagement.

I'm surprised he is still in a job. He has done nothing that has worked.

 

[moonie]

http://www.youtube.com/embed/VtVbUmcQSuk

 

[m22au]

Quote from morganist:

I'm surprised he is still in a job. He has done nothing that has worked.

Bernanke was Time Magazine person of the year in 2009, for all the "great work" that he did in 2008. This award seems increasingly silly as each day passes.

 

[morganist]

Quote from m22au:

Bernanke was Time Magazine person of the year in 2009, for all the "great work" that he did in 2008. This award seems increasingly silly as each day passes.

As soon as an economist gets a prestigious prize they fail. It is like clockwork. The Nobel Prize is the worst. Look at the record.

 

[Larson]

Quote from morganist:

I'm surprised he is still in a job. He has done nothing that has worked.

He lacks the tenacity of Volcker, and he has made mistake after mistake. The Dallas Fed head (Fischer) seems to be the only one that has a clue as to what is going on.