"We believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited"
- Ben Bernanke, May 2007
"There is a reasonable prospect that the current recession will end in 2009"
- Ben Bernanke, February 2009
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53 comments:
just another person in govt totally clueless.
Buh buh Ireland was the hot Shit that were being pushed down out throats in a daily basis, just like China and India. What happened? Ran out of Ponzi mortgages and credit? If you guys in Europe are such geniuses, why leave if you can use your talent to fix your countries in a heart beat?
Hey hey, don't you Eurotrash start immigrating to North America. We aren't sophisticated enough, remember? You Europeans hate our guts, remember? You always say that Europe is sooo special and above us, remember? Plus we like guns here to fight the NWO from taking over, censoring the internet, and putting cameras and GPS up our a$$es. So you go join Bukko in police-state Australia...don't come here!
(Bloomberg) -- Ireland’s Children Flee Again as ‘Dark Days’ Return
Irish engineer David Kavanagh thought he’d have his pick of jobs when he graduated from college last year. Instead he’s picking countries.
“There’s no jobs here; that’s why I’m considering getting out,” said the 23-year-old, who has yet to find work since he got his degree. “I would go anywhere. Australia has gone down, I hear. Canada’s the new holy grail.”
As Ireland slides deeper into a recession, its workers are returning to the emigration trail that blighted the nation for 150 years until the Celtic Tiger economic boom of the 1990s. With the Dublin-based Economic and Social Research Institute forecasting that 50,000 people will leave in search of work, the country is facing what former Prime Minister Bertie Ahern calls the “dark days” of mass exodus again.
We are consumed by a new way of life, a new philosophy that will keep things from ever going back to the way they were.
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=12191382&ch=4226720&src=news
The whole economy is a confidence game, from stock markets to bond markets to trust in fiat currency. It is all about confidence. Ben is out there trying to generate confidence, and if he has to stretch the truth to do it then so be it! After all, what should we expect him to say?
Ben Ben Ben. I kept saying, "Okay he's a smart likable guy in an impossible position...so cut him SOME slack.
Now, after saying he say he thinks we may recover this year??? Based on what? A little bird in a paper hand whispered to you under the moon? Huh? And then the stock market rallies? Are they that desperate? It's theater of the absurd.
Big fat liar .
Seriously i am past coming on the site ranting and raving in order to let off steam , it's no longer doing it for me . I am close approaching the point where i need to start breaking and shooting shit
Hope some of you Internet warrior will join me in going out with a bang.
We are the world, we are the Ponzi...
WSJ - A former trader who had admitted to participating in an insider-trading scheme that made millions was sentenced Tuesday to more than five years in prison.
David Tavdy, 40, pleaded guilty to conspiracy and securities fraud a year ago after he admitting to buying tips from a former UBS executive who sold him nonpublic information about the bank’s stock recommendations. Mr. Tavdy worked for Assent, a broker-dealer.
See people, why would you believe in this crooked stock market? It's all rigged! Nothing but Madoffs running Ponzis. These crooks give you a piece of paper and tell you that it's worth $X. Sure.
Yea, and I have some land in Arizona you can buy!
.
HERE SHEEPLE, TAKE THIS PIECE OF PAPER. IT'S WORTH $1,000. WE SWEAR ON YOUR MOTHER.
SIGNED, SEC NASDAQ & NYSE
.
Sometimes I wonder if being fed chairman isn't a little bit like being the chief economist of the NAR.
A significant component of the fed chair's role is public relations. David Lereah has used the word 'spin' to describe one of his primary directives as NAR chief economist.
I bet Bernanke could really commiserate (sp?) with Lereah if they ever sat down for a few strawberry daiquiris (sp?).
I think Bernanke tells the truth when describing what he'll do in a certain situation. Like when he said he'd fire up the printing press if he smelled deflation.
But when Bernanke is predicting the future or analyzing the health of individual sectors or of the economy at large I think he has more spin moves than Dennis Savard.
Ben Bernanke is either a liar, or a fool or a TOOL.
a liar or a fool. I am not sure which is worse.
I said that about Geithner's tax error. either he is a bumbling fool or a liar/cheat.
looks like he is really a bumbling fool.
how does the quote go? "never attribute to malice that which can be explained by stupidity"?
ben is beginning to sound like that NAR eternal optimist economist... what is his name.... Lawrence something a rather.
Is it now a requirement that anyone wanting to hold a government office, Treasury position, or Fed position be utter and complete sociopaths and pathological liars?!?!
Do they really think that anyone in their right effing mind beleives a statement like that...recession may end in 2009?!?! What fucking planer are these people on??!!
It's obvious there is an all-out campaign to pull the wool over the eyes of the American people lest they get any more pissed off and do something drastic. They've seen the comments on every blog start to turn notably more angry. People calling out to others to rally and come together. Asking questions that the government doesn't want people to ask, etc..
I've seen momentum, you've seen the momentum, and SO HAVE THEY AND THEY'RE NOW STARTING TO SHIT THEIR PANTS!!!
Too late idiots, the barn doors are wide open!!!
Is it now a requirement that anyone wanting to hold a government office, Treasury position, or Fed position be utter and complete sociopaths and pathological liars?!?!
Do they really think that anyone in their right effing mind beleives a statement like that...recession may end in 2009?!?! What fucking planer are these people on??!!
It's obvious there is an all-out campaign to pull the wool over the eyes of the American people lest they get any more pissed off and do something drastic. They've seen the comments on every blog start to turn notably more angry. People calling out to others to rally and come together. Asking questions that the government doesn't want people to ask, etc..
I've seen momentum, you've seen the momentum, and SO HAVE THEY AND THEY'RE NOW STARTING TO SHIT THEIR PANTS!!!
Too late idiots, the barn doors are wide open!!!
It's so obvious he's lying. He's not dumb or ignorant. He's doing what he thinks is best for society. There should be some good books about this in the future. What will he call his tell all book?
The Brave Lie. "I was doing what I though was best for the country."
Wouldn't you just love to pump him up with truth serum and make him spill the beans?
Kevin in the mountains
Think happy thoughts and you can fly Peter Pan.
Damn... thinking out loud... how could it be possible that Bennie is just a Stupid Guy(?) As in, he's just completely Clueless(?)
I don't see how that could be the case. Yes, assholes rise to the top, but... in the context of things, this makes no sense.
His Cluelessness -- the Stupidity of his statements -- it makes no sense.
So, if he's NOT just a completely Stupid and Clueless guy, what are the other possibilities -- what are the other explanations for why he says such things?
That's what scares the hell out of me.
Never mind, I just figured it out.
He's not Stupid, and he's not Clueless -- he's just an Asshole.
Thanks for your time.
"...totally clueless..."
There are a lot of clueless people around; especially the ones that push the clueless/incompetent story.
They reached the pinnacle of power by being fukkups?
Even better: the purpose of their endeavors is to improve our lot?
Whigger; please.
"TOO MANY"
That is the problem that confronts us. There are too many people on this planet. Our population has exploded globally.
People are treating each other like garbage. In traffic someone will run you off the road to get 5 feet ahead of you. In business they are corrupt and do not honor their contracts.
Now with the new Great Depression, older employees will cling to their jobs rather than retiring, preventing younger workers from moving up and filling these positions. Great talent no longer finds great opportunity.
The reset button that we seek in this financial mess is a population reset button. We need less people. End of story. Right now there are Too Many.
Wait till the SKF falls down to 130ish then back the truck up and load it with shorts.
Nothing has improved and recovery this year or next is laughable.
Bernanke is spewing out crap that he's been told to spew. Which means he's a fucking coward.
WHY is this guy still around?
Fuck the "chimp cartoon" -- I want to see on the front page tomorrow morning a full-color picture of Ben fucking this country right in the ass, with a scared little smirk on his face.
Excuse my language -- it's getting worse every day.
America is screwed because not even our leaders can see the greed and shameless transfer of wealth, either that or they just don't care.
From Obama's speech:
"I think about Leonard Abess, the bank president from Miami who reportedly cashed out of his company, took a $60 million bonus, and gave it out to all 399 people who worked for him, plus another 72 who used to work for him. ”
How much did he keep for himself? $80 million?
$60 million million dollars cashing out a bank? A goddam Miami bank, foreclosure central! Am I the only one who sees a big red flag there? Obama is lost in space if he can say that out loud. America is tanking, banks are failing, people are losing their houses to banks, the rich are stealling every dollar thats not nailed down and Obama makes a hero out of banker who walks away with $60 million?????? No one running a bank with just 399 employees should ever get even a $2 million bonus. Shit, if he was the Jesus of bankers lets award him with a $1 million golden parachute, not $60 miilion. I don;t care what he "says" he did with the money, I smell a foul rat.
He is neither a liar or a fool.
Ben Bernanke is a lying fool.
Somebody please tell him, there is no problem, everything is 'contained', isn't it ?
OMG - I love the Thinker - what he said
What...impossible. Keith isn't cheer leading his Messiah's speech, 5 seconds after it ended.
"...the current recession will end in 2009"
At which point he will 'officially' announce that the economy has entered a depression-like phase.
And then he'll proclaim a 'bottom' in early 2010 with an 'official' prediction of a gradual 'uptick' in economic activity in the summer of 2011...
So, to look on the bright side, we're just a down-on-our-luck Kleptocracy muddling through a lull in consumerism between economic bubbles.
Bernanke's a perfect example of how a proven idiot gets to keeps his job while millions get pink slips. It's the American way.
Well "Uncle Ben" should get out on the streets of America, and see the damage the federal reserve has brought on this country. Then he should be rounded up by citizens put in a stockaid at Wall Street (along with some CEO's), and recieve some well deserved well placed rotton eggs thrown at them. The FED is a major part of the problem and should be done away with, after all it is a PRIVATE organization anyway.
He's a "white" liar. He says we "may" come out of it this year. "May" can mean there's a one-half of one percent chance we will. So, he is telling the truth, which is based on his economic models that there's a 99.5% probability we'll stay in recession this year. The .5% is the "may". If one of those dumb ass senators had pinned him down and asked him what's the probability that we are coming out of it this year, then he'd have to say .5%. But the senators know what he would respond with so they didn't ask him that because they don't want to freak out the country.
It's all a game. All theater. It means nothing. The Congress is a useless tool. Chris Dodd is fighting for his political life which is why he's up there pretending to ask hard questions of Bernanke.
Keith, you are the fool for backing Obambi!
Maybe sometime in '09, Obama's pay master George Soros will go from Short to Long. Problem solved!
It pisses me off,like many others, that these idiots really take us for being chumps. I just listened to Obama's speech, and this feeling again permeated every pore of my being. We are in the situation that we find ourselves because of our collective gullibility. Everything POTUS spoke of so elequently was another attempt to keep us in the dark. A few questions:
1. How will this be paid for?
2. With no mention of inflation, deflation, resource depletion, etc..., how can a new reality be attained when the starting point is diluted with utter unreality?
3. Seventy percent of our economy is based on consumption. People who do manage to find or keep employment in the next 18 months, will their consumption patterns return to a level seen in the past decade?
4. Exactly who will stand up to bankers to make sure they once again start loaning money? WILL the FED to be EXPOSED as an entity outside the US governnment?
5. Will the new sheriff survive if he stands up to bankers, Haliburton and the Military Indusrial Complex?
6. Will we continue funding a murderous Israeli government/
7. DID HILLARY WORK OUT SOME DEAL WITH CHINA THAT WE SHOULD KNOW ABOUT, SINCE 1.3 BILLION FOLKS LIVE THERE?
More gobbiledy gook...want some real talk, not shit fed to the POTUS by Clinton and the globalist elites that loathe the common man.
pedro
You love to think about me, don't ya, Anonymous? Congrats on your mad bold cut 'n' paste skillz, mate!
You probably don't realise it, because I doubt you know much about Australia, but you're partially right about the police state bit. They're crazy for speed cameras, red light cameras and booze/drug buses here. Not as bad as the bribe-soliciting traffic pigs in Indonesia and Russia, but there are still all sorts of ways The Man tries to sting you if you're in a car.
Fortunately, I know the roads and intersections where the cameras are, and when I'm driving in a not-quite-right state, I'm always scanning ahead for the booze roadblocks. I developed a superb sixth sense for cops during all the years I was a hot-rodder.
Contrary to what your Mick engineer thinks, Australia has not "gone down." Although if he was planning on getting an engineer's job in the mines of Queensland or West Australia, he's right that things are tight. But my ward has just recruited a dozen new nurses, half of whom are from the UK/Ireland/Scotland. And that's just one floor in a big hospital.
Things are slowing here, and Oz will get slimed by the shitstorm that's sweeping the world. But there's no sense of panic like there is in the U.S. Life is good in the Lucky Country. Sometimes it's good to be a few years behind the rest of the world.
Summertiiiiiiime, and the livin' is easy... I'm sorry your life is not going as well as mine, Bitter Anonymous. You should wish to be so lucky!
Grade A #1 useless Asshole.
Multi-Race Miracle Obama:
ARE YOU LISTENING?
THE PUBLIC HAS NO CONFIDENCE IN THIS MAN OR YOUR PLAN.
Try to do something right.
"Consumer Confidence Index Hits Record Low
A key consumer confidence index plunges to its lowest level since the measure was first taken in 1967, as worries about jobs, banks, stocks and foreclosures all deepen the national sense of gloom."
A doomed and shamed hapless hack Fed Chairman pronounces Recession to lift by years end...
AND market rises 250+ points...
Its ALL Rigged. Ponzi. Scam. Your leaders have sold you out like the credit whores you are.
Clean your weapons and inventory your ammo.
You may need them soon.
Viva Revolution!
So how many banks still safe.
http://forum.brokeroutpost.com
/loans/forum/2/244738.htm
Wells Fargo CEO Richard Kovacevich, known as Dick, and other Wells top brass have been making the rounds on TV claiming that they did not do Alt-A and Sub Prime.
These lies could end up costing share holders a ton of money. We should not allow our financial leaders to lie to us like this.
If you were around to write Alt-A or Sub Prime with Wells Fargo please post the types of loans you closed with them.
Wrong post, but Keith went out drinking last night, and didn't leave us a bucket to piss in, so I'll put my comment here.
There Is Just Something Completely and Totally Disingenuous About This Man, The President.
why not both a fool and liar on top of corrupted?
Ben Bernanke, May 2007
"There is a reasonable prospect that the current recession will end in 2009"
this is a true statement
the recession will end in 2009.. and the depression will begin.
so he is telling the truth
I was disappointed with Obama's speech tonight! He needs to reduce and forgive people's debts. If they keep playing these stupid games then our economy will continue to flounder.
So many of us have spent other people's money and thus we need to be bailed out. If they don't bail us out then we might enter into a Depression in which our nation won't even recover! Is that what you folks want?
Live from New Orleans:
I'm here during Mardi Gras. Did you hear about the shooting?
This place is wall to wall gangsta thugs.
Just a few cops away from meyhem, rioting, looting and murder.
NOLA is in decay, doubtful to ever return to its former glory. Theft, garbage, corruption, urine, it's worse than any Mexican city I've been too, including Juarez.
No community between the races, just two groups ignoring and tolerating each other.
Don't believe me?, just visit all the major network websites and look at the photos....you see groups of gangsta thugs, and groups of white folk. Never celebrating together.
Keith's dreams of unity are fantasy.
Amerika is in its final days.
Well, I would not have expected anything else. Political lackeys and idiots. Seems to be the flavor of the day just lately. The Silent Majority
"...he admitting to buying tips from a former UBS executive..."
Heh. Then there's the UBS helping-moneybags-to-hide it-and-cheat-on-taxes scandal.
Bonus points for actually smuggling diamonds in toothpaste, and having Commodities Future Modernization Act frontman Phil Gramm as vice-chairman.
It's all about superficiality folks, they play the numbers game and know that most people don't even recognize Bernake or who he is. The one's who do know him, are pretty sure that he's a confidence man, just lying his ass-off to the greater citizenry. Just like Oblathers speech, he says superficial things that most people want to hear. It almost appears that Obama doesn't even take his job seriously, as if he's really just playing the spokesman for the cause and not really thinking and concerning himself with the more complex picture. If that's the deal, it's an dire indicator of things to come, for sure.
The resident Aussie mentioned something about driving behavior and I saw a group red-light run the other day, like at least 3 maybe 4 cars running the light. I oft-times wonder if this is an indication of societal breakdown, the pack mentality is surfacing and it's the us against them or the, "I just don't care anymore" concept.
Maybe the sheeple aren't as dumb as everyone thinks they are or maybe they're just mimicking our leaders idea of what it is to be a responsible citizen, you know, a lying, cheating, stealing, full-of-sh*t crapbag.
awesome benny boy...now you can raise the rate.
http://tinyurl.com/adfnm9
Can we just kill him?? Really.
The reset button that we seek in this financial mess is a population reset button. We need less people. End of story. Right now there are Too Many.
Not according to your heroes BO & company. Your Messiah just picked a Cuban immigrant and free immigration advocate to run his immigration initiative. Soon to be announced, amnesty for 20 million illegals who will breed like flies, since most of them aren't educated, and will bring the rest of their families from Mexico, Guatemala, etc. The productive taxpayer will pick up the tab, as usual. California then will cry again that it has run out of money.
That's the plan, the US loses its sovereignty by filling the place with immigrants, so the Democratic party can remain in power with their votes. The dumbing America down plan is right on course. Open borders here we come again. American workers, kiss your wages goodbye (high supply of cheap workers = low wages).
Anonymous said...
'Big fat liar .
Seriously i am past coming on the site ranting and raving in order to let off steam , it's no longer doing it for me . I am close approaching the point where i need to start breaking and shooting shit
Hope some of you Internet warrior will join me in going out with a bang.'
We can tell you are Christian by your love by your love.
la la la
He says whatever his European masters tell him to say. He is a puppet.
1) Create problem
2) Offer solution
3) Obtain strategic objective
We are in Step 1...after a hard crash and desperation...the "solution" will be offered up.
Is it a conspiracy...yes.
pedro is your real name Mohamed the martyr?
Guys like Bernanke are not even in the same universe as the "unwashed masses". Do you not get that?
They live in a totally different world, and can't possibly relate to the rest of us. They steal, lie, cheat, extort, and cover each other's asses. It's a way of life for them.
It's true, the half-way-normal among us do not think like this and it's hard for us to believe that they do, but they do. They believe they are above the law and above us! We are peasants to be thrown a few crumbs now and then, so that we will continue to oil their machines with our blood and sweat.
They do not represent us anymore. They represent themselves.
Screw them.
Our economic bust was caused by the Federal Reserve -- they held interest rates below the natural rate of interest, creating an unsustainable credit expansion boom.
For the economic details as to why the Federal Reserve is primarily responsible, and why it is flying blind, please see the following paper by economist Roger W. Garrison:
http://www.auburn.edu/~garriro/fedmess.pdf
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