Bernanke is a complete goof

Discussion in 'Economics' started by HedgefundTrader2, Jan 17, 2008.

  1. Bernanke's underrated.

    I listened to his comments. He's telling us he'll do what he can but he's running out of room to move. He wants to shift the responsibility from the FED to Gov't. He's telling us there's a cut coming but it alone won't be enough to stem the tide.

    Bush will outline his plan tomorrow but, if, as Bernanke is saying, it can't come into effect very, very soon we're in deep shit.
     
    #11     Jan 17, 2008
  2. mokwit

    mokwit

    Why are you asking for relief?. According to you there is no recession so stocks are not discounting future events they are acting irrationally - please advise of the stocks you are filling your boots with* due to this incredible buying opportunity created by morons selling stocks because they think there is a recession when there isn't one.

    * it will make a great thread to come back to in 1-2 years, but by then of course you won't be looking at your portfolio and will not be posting here because you will have lost all interest in the market. I assume you are just doing this to generate responses, if not, then Darwin's theory of evoluition is disproved.
     
    #12     Jan 17, 2008
  3. I agree that he's underrated, everyone is forgetting that his job is difficult in this crappy situation he was thrown into and he will get blamed no matter what happens. Its hard to do the right thing when you have half the people saying cut rates to zero, and the other half says to raise rates. When he initially cut 50 basis pts everyone thought he was crazy and it was not needed. Well welcome to the future.

    This reminds me of how Bush was blamed for the last recession and terrorist attacks, even though we were setting up for the fall before he was even in office.

    Greenspan on the other hand is terribly overrated.
     
    #13     Jan 17, 2008
  4. You and Dr. fill get it. Bernanke's testimony today was superb. Despite questions by the stupid Democrat's who don't get it. The developed world is on the brink of Stagflation with a cap S and half the committee was fixated on predatory lending.
    Bernanke actually offered more than what was asked. Me thinks it was a great lobbying job. "Hey I'm 'tween a rock and a hard place....
     
    #14     Jan 17, 2008
  5. Screw the banks. He should raise rates and get this disaster over with asap.

    John
     
    #15     Jan 17, 2008
  6. Look you are the moron who doesn't understands how things work.

    Everything is going down but " energy prices/gas" keeps going up and causing inflation. Nobody in the Federal government can put a lid on that and that's why these pressures were countered with increasing rates that eventually killed the real estate market. Now the real estate market is dragging the economy and the stock/ equities markets into a downward spiral with mortgage mess. Fed has no control on domestic oil companies or even our Congress doesn't wants to lift an eyebrow. Consumers are very upset and concerned with gas prices and the woes will not stop here.

    A rate cut will help a long way, but the gas energy prices and the profit taking need to be curbed as well.
     
    #16     Jan 17, 2008
  7. He didn't have to accept the position if he thought it would be too hard.
     
    #17     Jan 17, 2008

  8. Bernanke is behind the curve. He reacts, he doesn't leads and its a subjective evaluation, people need not get their tails in a knot over it.

    If you think Bernanke is God go make a shrine.
     
    #18     Jan 17, 2008

  9. Where do you think I should post? On your ass?
     
    #19     Jan 17, 2008
  10. I think Bernanke is developing into something of a disaster as Fed Chairman. He is close to having the markets totally lose confidence in him. The last time that happened was with Jimmy Carter's Fed Chairman, and the results were not pretty.

    I said before the last meeting they should cut 50 bps, and I was attacked by many of you. Now, after saying risks were contained, Bernanke will be forced to cut at least 50. Fed futures are now pricing in incredible cuts by summer. He looks like a friggin' idiot. The banking system is coming down around his ears, FNM and FRE will require huge bailouts, there is no way the bond insurers can make good on all their exposure, and people are worrying about the cost of corn or oil? If you want ag prices down, do something about the idiotic ethanol policy. If you want oil down, talk to the Saudis. Oh wait, Bush already did that and they told him to f*ck off.

    Bernanke's incompetency is now leading to congress wanting to pass "economic stimulus", which will be some collection of the most mis-guided giveaways possible. Incredibly, Bernanke seems to be encouraging it. He seems to lack the respect of his fellow Fed members, as they seem to feel free to go out and say whatever crosses their mind. This did not happen with Greenspan.

    I will repeat my advice. We have a serious financial problem. One way to make things better in a hurry is to lower rates aggressively. There are costs to that policy but they pale in comparision to what we will piss away if somethng isn't done.
     
    #20     Jan 17, 2008