February 24, 2009
Here's Ben Bernanke, broadcasting from the end of the world
I'd sure love to get this guy drunk on cheap vodka and have him tell me what he really knows.
I think it'd be something like this:
"We're f*cked.. we're f*cked.. it wasn't my fault, no, it was them. they killed us.. we created them, we let them do it, but they killed us.. all of us.. I want my mommy"
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JP Morgan expecting 40% drop in house prices
http://tinyurl.com/b5zl9s
Remember all the trolls who laughed at us for saying home prices could fall. Even the IDEA that they could fall?
Wonder what they're feeling these days
Well, it looks good on paper. But will the plan really work? If you want a good indicator on housing AND apt prices, then checkout craigslist for your metro area. I live in Houston, and the desperation is only just beginning. I bet for every 1 house listed by a realtor, there are 3 more FSBO's. (for sale by owner). Houses down by at least another 20-25%.
Hey, remember in that movie "Wall-E", when they continued to send out reassuring messages in a room with a professional backdrop, and eventually you found out that they were broadcasting from a bunker somewhere and it was all a lie to fool people, and that we really had gorged ourselves so much that it destroyed the natural world? Oh crap, where is the spaceship departing from?
What good is it if a man gains the whole world but looses his soul.
I wonder what the price of this mans soul was .
There is no way he is this stupid so he has to be lying , like when he told us the fundamentals were good .
Exit strategy.... got gold? (Gulp)
The audience looks confused or disengaged. You know they all don't care with oly 10 years left to live (AARP group)
-Mike
@ Keefer,
The 40% drop was from the peak- we are already 28% down from the peak according to the article... So another 12% more. Seems reasonable.
-Mike
Attn: Magnum Force
Another one for 'the list'.
Hurry.
To Obama, the mixed race miracle:
Hey Asshole, THIS USELESS JERKOFF HAS TO GO. GREEDSPAN TOO. GET RID OF THEM. SEND THEM TO CHINA TO CONSULT.
Most Clueless bald man posing as an 'expert' on anything in the World.
Fucking utterly useless.
Would YOU loan Helicopter Ben Money?
I didn't think so.
Fed chief: U.S. suffering ‘severe contraction’
BREAKING NEWS
updated 5 minutes ago
WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy is suffering through a “severe contraction” and pledged to use all available tools to lift the country out of the recession that already has cost millions of Americans their jobs.
Bernanke hoped that the current recession, now in its second year, will end this year.
But he said there were significant risks to that forecast and any economic turnaround would hinge on the success of the Fed and the Obama administration in getting credit and financial markets to operate more normally again.
“Only if that is the case, in my view there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery,” Bernanke said.
“To break that adverse feedback loop, it is essential that we continue to complement fiscal stimulus with strong government action to stabilize financial institutions and financial markets,” Bernanke said.
The Fed is “committed to using all available tools to stimulate economic activity and to improve financial market functioning,” Bernanke told lawmakers Tuesday.
UTTERLY FUCKING USELESS COULDN'T GET A JOB IN THE PRIVATE SECTOR TO SAVE HIS LIFE. USELESS.
The race is on to get everyone on RECOURSE LOANS! That way everyone who ones a mortgage will be a "SLAVE" for life!
This was the ultimate plan!
Liars, cheats, crooks, *con*fidence men and women ... every last one of them.
The entire congress needs to be gutted, and we'll need to start from scratch with something that truelly represents the interests of the nation.
We're in a depression now, not a recession, and it will last far beyond 2010.
Besides, why would anyone believe any of these schills now ... they've been dead wrong 100% of the time.
Nothing he says is going improve this situation better than throwing a couple dozen bastards in jail.
You want public confidence, you know what to do.... The bus is here the only question is who is getting under it "for the team."
Guy's coked up.
This was the guy that said that the mortgage problem was 'largely contained to subprime'.
The way I understood Bernanke, he'll be able to quickly reduce the money supply once the economy is growing again.
I heard him use the term 'inflation'.
I never heard him use the term 'stagflation'.
If we get inflation while the economy stagnates, I doubt he'll havve the balls to curtail his 'quantitative easing' and increase the interest rate.
Has anyone laid claim to the expression 'stag-hyperinflation' yet?
Don't you worry, the economy will turn around in 6 month. The problem is contained.
F***ing liar! He should fry in hell! In this movie he says the inflationary effect of the growing monetary base (please note, that it DOUBLED - http://research.stlouisfed.org/fred2/series/AMBNS?cid=124)was not that huge, because banks do not use this money. Instead they keep it in FED reserve. That is true. So the growth of wider monetary aggregates (M1, M2, M3) is slower. Yeah, even if they not double like M0, the growth can be huge. But! This is not my point. Read this article on bloomberg: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anNhXj.NDVT8
The FED encourages banks to use tha bailout money for loans! So Ben says the inflation won't be high, because banks do not loan bailout money, but at the same time they want the banks to lend that money! I know the God won't have mercy on him. But shouldn't justice strike him with vengeance here, on earth? I am Polish, so I am limited in my actions. But can't you sue him? Or simply get rid of him in an old-fashioned way? Isn't it time? For a little uprising? "We'll dance as the palaces burn!"
P.S. Note the words of a d***cratic (I don't like using offensive words like d***cracy :P ) representative in the article on bloomberg:
“Don’t insult our intelligence,” Sherman said at the hearing. “You had extra money, and instead of loaning it to the economy, instead of repaying it to the taxpayers, which is what you should have done, you sent it out as dividends to your shareholders.”
He'll end up in hell too. Got a punishment for him even - eternal loans, each one to repay the previous and with higher interest each time :D
Greetings from Poland!
His prediction that the recession will end in 2009 is strictly political, in my opinion.
His term is up in January 2010. If we are still in the economic sh*thole (most likely) he won't agree to renew. However, if by some chance, we show a floor in job losses he will renew his post.
From a Fed Chairman perspective predicting the end of the recession in 2009 is brilliant. A no lose situation for Bernanke.
-Mike
Ya the bailouts have helped the common man so far. Think about who they're trying to save the system for.
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