You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
U.S. labor market is 'a national crisis' and housing market needs aid, Fed's Bernanke
- Thread starter ASusilovic
- Start date
Quote from achilles28:
The Boomers voted in the criminals who presided over this multi-decade trainwreck. And then passively watched as DC shipped the economy off to China and rang up huge debt. I recognize you're a patriot, but lets get real. For the most part, the Boomers are the most naive, short-sighted, self-serving generation America has seen in a hundred years.
In large part, they are also iconoclasts. The fact that the prior generation lived thru the Great Depression and lived with the frugality that only someone who has seen hard times can appreciate. The Boomers rebelled against this notion, expanded government, expanded borrowing, over-built, over-consumed, etc, etc...It's no coincidence that the train really went off the tracks as the Depression era generation of leaders retired en masse. All of the sanity of living within a budget was deemed "quaint". Instead, we needed bigger, newer and more of it.
Quote from denner:
In large part, they are also iconoclasts. The fact that the prior generation lived thru the Great Depression and lived with the frugality that only someone who has seen hard times can appreciate. The Boomers rebelled against this notion, expanded government, expanded borrowing, over-built, over-consumed, etc, etc...It's no coincidence that the train really went off the tracks as the Depression era generation of leaders retired en masse. All of the sanity of living within a budget was deemed "quaint". Instead, we needed bigger, newer and more of it.
Sure. Add to that a nation that lived through the most prosperous time in history, it fostered an ignorant, reckless, "can't happen here" attitude. When they decided to burn the furniture, rape the Treasury and pick fights around the world, hey, what could possibly go wrong? Evidenced by the turds on the board, they're indignant at the possibility they fucked up. Pure denial. Most blame the problems on their children, even though they were in diapers when all this shit started.
Quote from achilles28:
Sure. Add to that a nation that lived through the most prosperous time in history, it fostered an ignorant, reckless, "can't happen here" attitude. When they decided to burn the furniture, rape the Treasury and pick fights around the world, hey, what could possibly go wrong? Evidenced by the turds on the board, they're indignant at the possibility they fucked up. Pure denial. Most blame the problems on their children, even though they were in diapers when all this shit started.
Which turds? 99% of the posts here and on Economics and in P&R consist of posts from people who agree with the idiotic tripe you and your fellows post over and over and over and over and over and over and over. When I first joined up, I thought Economics actually meant Economics and not regurgitated claptrap that was discredited 100 years before you were born, all of it learned from mises.org while you guys sat on your hemorrhoids and dreamed big dreams of being George Soros, or at least Jimmy Rogers. Silly me.
What, the 1% getting you down?
Quote from trefoil:
Which turds? 99% of the posts here and on Economics and in P&R consist of posts from people who agree with the idiotic tripe you and your fellows post over and over and over and over and over and over and over. When I first joined up, I thought Economics actually meant Economics and not regurgitated claptrap that was discredited 100 years before you were born, all of it learned from mises.org while you guys sat on your hemorrhoids and dreamed big dreams of being George Soros, or at least Jimmy Rogers. Silly me.
What, the 1% getting you down?
Struck a nerve, huh? I guess you're part of that lofty 1% that fellate Bernackes effigy on a daily basis in a pair of soiled Depends. Keynesian doesn't work, Grandpa. Look around. That's what all this is about. Politicians hijack the business cycle and run the economy into the ground for short-term political benefit. You fucking retards (Boomers) were too dumb - or ambivalent - to get it, despite having 40 fucking years to wise up. Largely because your hand was out voting the criminals into office. Now you wanna blame Austrians, even though their ideas haven't been practiced, in what? 100 years? Admit it. Your generation fucked up hard, and you're too much of a pussy to own it.
Quote from denner:
The Boomers rebelled against this notion, expanded government, expanded borrowing, over-built, over-consumed, etc, etc...It's no coincidence that the train really went off the tracks as the Depression era generation of leaders retired en masse. All of the sanity of living within a budget was deemed "quaint". Instead, we needed bigger, newer and more of it.
What a crock of shit.
The government began expanding right after the New Deal and really took off after WWII, especially once the Cold War kicked-in.
None of the politicians behind that expansion were boomers, they were the parents of boomers.
Things got much worse when that unboomer fossil, Reagan, took office. Same goes for the Congress during his two terms, hardly a boomer among them.
Did boomers convert the dollar into fiat currency, which is what enabled the deficit spending, debt-fueled growth that Reagan and company ignited?
No...
Did many boomers take advantage of a situation that the preceding generation put in place?
Hell yes, just as your generation would have done if given the chance.
And, therein lies the root of your bitterness, not getting a chance to do the same...
BUBBLE ben bernanke doesn't comprehend the trouble this economy is in, he thinks what he has been doing for the past few years is a fix to this crisis, HAHA, thats a fucking joke, he did absolutely nothing for this economy, but put it in a more troubled state, how many times do I have to repeat that jobs cannot be forced on a weak economy. For the last 30 years this economy has been running on nothing more than asset bubbles, why do you think the economy is in the state its in now. Of course this is unheard of, this is a crisis that has never been dealt with...As for strong housing policies to help the housing market recover, are you fucking kidding me, the reason why we are still in this crisis is because of what happened in the housing market just a few short years ago, remember that was the same housing market that BUBBLE ben bernanke said there was no bubble and that the economy was in for a soft landing, anyone remember that foolish talk. The housing market doesn't need to be propped up, it needs to come down prices are still to extreme, the cost of living is too extreme, something needs to be done to offset this and balance what needs to be balanced out, propping up housing prices does NOT fix this crisis it only worsens it, but what does BUBBLE ben bernanke know. Housing is still 40-50% overvalued, artificially dropping mortgage rates isn't going to fix the crisis when millions are unemployed and those who have a job cant get a loan because of the new regulations with the banks. So what better housing policies would clearly be very useful? What new tricks does BUBBLE ben bernanke have up his sleeve.
Quote from ASusilovic:
WASHINGTON (MarketWatch) -- The nation's weak labor market was "a national crisis" that required attention from the White House and Congress, Federal Reserve Chairman Ben Bernanke said Wednesday. "We've had close to 10% unemployment now for a number of years, and of the people who are unemployed, about 45% have been unemployed for six months or more. This is unheard of," Bernanke said in a question-and-answer session following a speech in Cleveland. He called for policies "that could help them find work, train for work and retain their skills." Bernanke also urged policy makers to consider "strong housing policies to help the housing market recover." Better housing policies would "clearly be very useful," and would allow the low mortgage rates stemming from easy Fed policy to have more effect and help the economy recover.
http://www.marketwatch.com/story/be...al-crisis-2011-09-28?link=MW_home_latest_news
Dear Mr. Bernanke, here is my advice: pick up the phone and give Apple, Google, IBM, HP, GM, JP Morgan, Goldman Sachs, Ford and others a call an tell them to free some of their 1500 billlion in cash they are hoarding on their balance sheet.
PROBLEM SOLVED!
Quote from achilles28:
Struck a nerve, huh? I guess you're part of that lofty 1% that fellate Bernackes effigy on a daily basis in a pair of soiled Depends. Keynesian doesn't work, Grandpa. Look around. That's what all this is about. Politicians hijack the business cycle and run the economy into the ground for short-term political benefit. You fucking retards (Boomers) were too dumb - or ambivalent - to get it, despite having 40 fucking years to wise up. Largely because your hand was out voting the criminals into office. Now you wanna blame Austrians, even though their ideas haven't been practiced, in what? 100 years? Admit it. Your generation fucked up hard, and you're too much of a pussy to own it.
Tinfoil is a hard core east coast elitist/socialist. He is sort of like Krugman...IOW, anybody who disagrees with him is a moron who just doesn't "get it".