Bernanke has lost all credibility

Discussion in 'Economics' started by detective, May 20, 2008.

  1. Inflation is getting out of control and this bookworm knows only one thing, that if the US printed a ton of money during the 1930s, there wouldn't have been a Great Depression. Now he's out to put his theories into practice, trying to prevent something that's not even close to happening. Injecting stimulants into an aging patient thinking that's the cure. He's thinking new ways to hand out money to Wall Street through TAFs taking in garbage that no one wants, devaluing the dollar in the process.

    Crude oil is $129/barrel. And Fed funds rate is at 2%! The guy thinks that if he tells us that inflation is under control, we'll believe him. Inflation is the killer of the poor, the banks love inflation because they get to use the money first before it rapidly loses value.

    The only inflation hedge out there are commodities. The euro will budge under US pressure at some point and print to keep their currency from becoming too strong. Same with the Swiss and other fiat currencies.

    A Fed hell bent on stopping a recession even before it starts is only going to cause oil to go higher. Its not Goldman thats causing this rise, its coming from 2 factors, supply/demand, and Bernanke rolling the printing presses non stop.
  2. LT701


    by jacking oil to the sky, he will turn a recession into a depression
  3. cool it all makes sense now...........................

    honestly who gives a shit if oil hits $150? $200? people are going to fly less? big deal...
  4. greddy


    When Ron Paul was drilling his #$@%X during
    a congressional hearing, helicopter man
    said that as long as you live in the US, a
    depreciating dollar does not hurt the US citizens.

    I guess $4.00+ for a gallon of gas does not matter.

    Who needs food and energy. Just focus on the
    core CPI.
  5. LT701


    2 cents is a good name for you
  6. Transportation costs affect the cost of just about everything.
  7. LT701


    even that will go up, still takes energy to make it over there, and to transport it here
  8. It doesn't really matter to the rich, those most responsible for the stock market. I have said numerous times that higher oil is a net benefit to the market in the short term.

    From a humanistic standpoint, bailing out banks and devaluing the dollar only helps the rich, the poor are taking it up the rear because they get squeezed by higher oil much more than rich bankers.

    Bernanke is basically stealing from the poor and giving to the rich through his inflationary policies. Unless Congress wants to keep handing out $600 rebate checks forever, the poor are gonna get shafted

    Inflation crushes the poor, it merely annoys the rich.
  9. It's a good thing we can always emigrate to Venezuela or Cuba. No Wall Street, no capitalism, free health care and schools for everyone!
  10. How ironic that you put all of this blame on Bernanke, yet conveniently avoid mentioning the name of the idiot that appointed him, and countless other incompetents.
    #10     May 20, 2008