Still No Recession - And if We Avoid One - Give Bernanke a Nobel Prize?

Discussion in 'Economics' started by aeliodon, Jul 21, 2008.

  1. I am shocked that after a year of rising unemployment, rising inflation, and the biggest banking/credit crises since the Great Depression - here we are still growing as an economy (albeit at 1%).

    I think the stimulus plan, which was 1% of GDP saved us so far.

    So if we do manage to avoid a recession I think Bernanke deserves a Nobel Prize for Economics.

    If there was a VIX for the economy it would be at all time lows. This economy can't boom and it can't bust - its just stuck in a really tight range and all breakouts are false and get faded right away.
  2. I've hated on this Bernanke character for a while and I love it when Ron Paul humiliates him. But if we avoid a recession, I think he deserves the Nobel prize.

    He may turn out to be the only competent Bush appointee.

    Bernanke just needs to hang in there till the end of the year.

    Here is my bullish case for the economy:

    * Bush is pushing hard for peace between Israel and Palestine. Clinton did the same in his last days in office and came incredibly close until Arafat basically walk away from the best deal the Palestinians would've ever gotten. That fool didn't even make a counteroffer. But I think Bush will be more successful since the Jews are really fond of his toughness in dealing with the arabs, I'm sure they will want to give him a going away present for all that he has done. This will greatly and permanently ease Mideast tensions. Oil drops 10%.

    * Then comes Obama as president. He pulls out of Iraq which further eases Mideast tensions. Oil drops another 10%.

    * Obama is also a dove on Iran, making war with Iran a 0% possibility esp. with American troops out of Iraq. Oil drops another 20%.

    * So now with oil down 50% from all time highs - inflation isn't that big of a problem anymore. But since the whole world is so used to conservation by now, demand stays steady - keeping a lid on oil.

    * The Nation is in a much better mood now: (1) Obama is president and he is loved by all even the conservatives are glad to see Bush go. America's standing in the world improves drastically. (2) With Obama as a dovish president we will have at least 4 years of peace. (3) Oil comes down hard and along with it inflation pressures.

    Never underestimate the power of peace. Remember the Clinton years? I'm not a demo/lib but I definitely want to see more trade and less war - that's the best thing for global growth.
  3. dunadain


    The fed mafia is doing what it needs to to keep their banking buds out of failure -- no prize needed for doing that.
  4. But Yassar Arafat got one?

    Doesn't Bernanke deserve one?

    If the fed is a cartel/mafia of private banks that control the nations money supply then how the hell did they get into this mess. All the banks that own the fed have lost nearly all of the past 3 years of earnings. With all that power, and all that inside info., you would think they'd be in better shape.
  5. S2007S



    cnbc and the rest of the talking heads will talk about the recession just as the economy is coming out of one.....

    Were in a recession and have been for months.
  6. its nothing short of a miracle we're not in a full fledged depression. if you just gave me the news the past 12 months and i knew the dow was 14k last year i swear i'd guess the dow was 6k max. but on that note it looks like everythings unraveling fast. look at the blowups tonight. i really believe unemployment levels will start skying and a huge recession is coming
  7. I've said this before. It's a freakin miracle Bernanke (and Paulson) are somehow keeping this economy afloat.

    Things should be a lot worse.
  8. Smoke and mirrors.

    Things are alot worse. Can't keep it hidden forever though.
  9. economy grows 1% but debt grows and inflation grows 5%

    Bernanke didn't create this mess and won't be the one to solve it.

    the only solution is the free market====bad companies go chapter 11 and restructure themselves and sold to competitors.

  10. Bernanke and his FED bots made inflation worse by decreasing rates from 4% to 2%..

    why should public money be used to support PRIVATE banks which are PRIVATE companies. either they restructure or sell more shares...the investors of those companies are on thier own in raising capital or become insolvent.

    banks are no diffferent from any other business that mess up. banks and investment banks took too much risk to satisfy the investors who want high returns or it's the investors fault for the demise of these companies who file for chapter 11,....

    #10     Jul 21, 2008