Posted on 02/27/2008 6:05:37 PM PST by SkyPilot
The decision has been delayed a lot longer than most people had expected.
Maybe its because they were trying to figure out which design was better for streaming $20's across the heartland of America.
LOL!!!
Wait a minute,,,wait a minute,,,,why am I laughing? It is NOT inconceivable (ref. the new WEALTH REDISTRIBUTION SCHEME)!!!
Dang, I bought some when it was under $1 but not nearly enough. Euros anyone!
Europeans and South Americans are in a frenzied buying spree in NYC. I feel like I’m living in a border town...
“Hey Ben, you’re gonna need a bigger helicopter.”
They should be.
We could go into a Depression. I am not joking.
I tell you what. No.
Great answer. Made me laugh...
Did you read the article at the link I posted?
Some scary stuff.
Soberly written and convincing.
Wholesale inflation rate was 12 % in January. If Benarke lowers rates again he’s as much of an Idiot as Fed Chairman Miller, under Pres. Carter, was. IOW, a hack who is politically manipulated and a guy who will give us a Real Recession, soon after the election..
Quoting from your link -
“2. The U.S. consumer is shopped out, saving-less and debt burdened and now buffeted by oil prices close to $100 a barrel, a weakening labor market, weak income generation, falling consumer confidence, falling home values, falling home equity withdrawals, high debt, rising debt servicing ratios, a severe credit crunch and a sharp correction in the stock market that will turn into a bear market once the recession becomes deeper.”
So the Fed’s answer is - lower rates so we can “grow the economy” by generating even more debt.
Brilliant /sarc
The net effect is that those of us who have saved and not lived beyond our means have been played for suckers. We’ll watch our savings become worthless.
Meanwhile, the up to their eyeballs debtors will be paying back their debts in worthless paper dollars...
The "soft landing" hope is dead. The article is correct - "Just how hard will the crash be?" - is the real question.
Do you know the old joke?
"A Recession is when your neighbor loses his job. A Depression is when you lose yours."
Fixed it for you.
Oil jumps and dollar drops after Congressional action to take $ billions from oil companies.
You really think so? The same as Bush II was cleaning up for his dad?
Bernanke is even worse than Greenspan, if you can believe that's possible. Just listen to his non-response to a simple question posed to him by the only Congressman who actually understands what the Fed is doing.
He's in over his head and will resign before the year's over is my prediction.
He said gold gives stable prices. He's wrong.
His main point, which you seem to have overlooked, was that once the Fed begins priming the pump it must continue to dump money out of helicopters to keep the economy afloat. That's exactly what Ben Bernanke is doing, and what Bernanke thinks is his duty as head of the Fed. He even went so far as to say the Federal Reserve Act of 1913 requires the FRB to work toward "price stability," meaning, to Bernanke, inflating the currency.
Bernanke wants us to believe inflation is higher prices, not a devalued dollar caused by creating money out of thin air. He couldn't be more wrong. Americans may not understand it, but the rest of the world surely does.
BTW, Ron Paul is entirely correct when he states that the price of oil, although it's tripled, tracks well with the price of gold.
I was unaware of that one-to-one correlation until I drew the charts on Yahoo! Finance.
It's often said that gold is not an investment. Neither is oil. But both commodities have steadily increased in value over the past several years as compared to the U.S. dollar. That should tell us something.
What’s coming (or already here) will be my fifth major recession since I became a businessman.
And they all start out the same: I look around me, and see little if any sign anything’s wrong.
I remember my first recession, back in the 1970s: I was thinking my line of work must be recession proof, because business was booming for several months after the slowdown became official.
Then, Boom—business dried up for me and stayed that way for many months.
For those who didn’t read the link, here it is again:
http://www.house.gov/apps/list/hearing/financialsvcs_dem/roubini022608.pdf
Yes.
but you choose to pick the only thing he said that there could be some difference of opinion on.
Yes, I highlighted the obvious error in his statements.
Bernanke wants us to believe inflation is higher prices, not a devalued dollar caused by creating money out of thin air.
What else would cause inflation but a devalued dollar? The modern usage is higher prices. Blame the media.
BTW, Ron Paul is entirely correct when he states that the price of oil, although it's tripled, tracks well with the price of gold.
It's an interesting observation. So what?
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