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Keyword: benbernanke

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  • U.S. inequality is curable

    01/06/2014 9:27:56 AM PST · by MegaSilver · 42 replies
    Prudent Bear ^ | 6 January 2014 | Martin Hutchinson
    The Democrat playbook for 2014, we are told, intends to focus on U.S. inequality and to suggest that only redistributive taxation will solve or even alleviate it. Certainly it's possible to reduce inequality through punitive levels of taxation—at the cost of making everybody poorer. I thus thought it worthwhile to disentangle the current causes of U.S. inequality to see how we might alleviate it by raising the incomes of the poor rather than simply depressing those of the rich. With good policies, this could even provide general economic uplift rather than depression, which would happen with redistributive tax. The policy...
  • Paul Ryan's Democratic Opponent Is Alien Conspiracy Theorist, 9/11 Truther

    11/01/2013 12:25:31 PM PDT · by nickcarraway · 12 replies
    Mother Jones ^ | Thu Oct. 31, 2013 | atrick Caldwell
    Amardeep Kaleka produced and directed a documentary that claims September 11 was an inside job designed to distract the public from ET revelations.Proof of alien lifeScreenshot from Sirius trailer When 35-year-old Amardeep Kaleka recently declared his intention to run for the Democratic nomination to challenge Rep. Paul Ryan (R-Wis.) in 2014, most news coverage focused on one facet of his story: His father was one of the murder victims of the 2012 massacre at a Sikh temple in Oak Creek, Wisconsin. That murder convinced Kaleka to run as a Democrat and advocate for enhanced gun control. But during a recent...
  • End the Fed

    10/30/2013 4:17:24 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | October 30, 2013 | John Stossel
    I've always avoided reporting on the Federal Reserve. I know it's more important than much of the stuff I cover, but it's so boring. How can I succeed on TV reporting on the Fed? Fed chairs even work at being dull. Alan Greenspan said he tried to be obscure because he didn't want to spook markets. He called his obfuscation "Fedspeak." It's a far cry from the clarity of his language -- and principles -- when he was young and a disciple of libertarian Ayn Rand. Outgoing Fed Chairman Ben Bernanke and his likely successor, Janet Yellen, are almost as...
  • The Debt Ceiling Is Breaking Ben Bernanke's Heart (Tiny Violins Alert)

    10/09/2013 1:06:23 PM PDT · by mojito · 5 replies
    National Journal ^ | 10/9/2013 | Patrick Reis and Catherine Hollander
    Ben Bernanke has spent half of a decade trying to coax investors out of their post-recession bunkers. Now, Congress is set to once again send them running for cover. The country will default in the coming weeks unless lawmakers reach a debt ceiling deal, but just by coming close to the edge, Congress will pull markets in the exact opposite direction than the Federal Reserve has been trying to push them. Bernanke's bid to resuscitate the economy depends on two leaps of faith. Businesses need to have enough faith in the future to ask for the big loans they need...
  • Buffett lauds Bernanke but laments lack of investment bargains

    09/19/2013 3:39:19 PM PDT · by posterchild · 15 replies
    Reuters ^ | Arggg Sept 19, 2013 | Jonathan Stempel and Peter Rudegeair
    The billionaire investor spoke one day after the central bank surprised investors by postponing its expected wind-down of monetary stimulus, which has in five years more than tripled the Fed's balance sheet to above $3.6 trillion. "Since the panic of five years ago, he's done a terrific job," Buffett said on CNBC television in a joint interview with Brian Moynihan, chief executive of Bank of America Corp. Asked if he would reappoint Bernanke when his term expires, Buffett said: "That's what I would do." Nevertheless, at an event later Thursday afternoon at Georgetown University, Buffett said that the Fed's eventual...
  • What Ben Bernanke Won't Say: It's Over Obama

    07/17/2013 9:33:53 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | July 17, 2013 | John Ransom
    On June 17, Barack Obama had one of his most awesome reality TV events of the year when he fired central bank chairman Ben Bernanke on PBS with liberal mope and host Charlie Rose moderating. “He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward,” said former Fed Governor Laurence Meyer, in an interview on CNBC the next day. And the bankers have been in revolt ever since.  The government, meanwhile, has revised the economy’s performance downward. The newest do-over by government economists comes three months after they gave the economy one of the...
  • Obama’s Revolting Bankers

    06/27/2013 8:55:37 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | June 27, 2013 | John Ransom
    On June 17, Barack Obama had one of his most awesome reality TV events of the year when he fired central bank chairman Ben Bernanke on PBS with liberal mope and host Charlie Rose moderating. “He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward,” said former Fed Governor Laurence Meyer, in an interview on CNBC the next day. And the bankers have been in revolt ever since.  The government, meanwhile, has revised the economy’s performance downward. The newest do-over by government economists comes three months after they gave the economy one of the...
  • Fed Chair Bernanke to Princeton Grads: Meritocracy Doesn't 'Pass Ethical Muster'

    06/17/2013 8:14:04 AM PDT · by Rusty0604 · 39 replies
    Big Government ^ | 06/16/2013 | Ben Shapiro
    Speaking at the Princeton University graduation in June, Federal Reserve Chairman Ben Bernanke spelled out his political philosophy: from each according to his luck, to each according to his need. He explained that meritocracies were inherently unfair, and that those who were the luckiest needed to give back to society to make the concept of meritocracy work ethically.
  • Why A Cyprus-Like Seizure Of Your Money Could Happen Here

    04/08/2013 10:43:49 PM PDT · by Tolerance Sucks Rocks · 29 replies
    Forbes ^ | March 25, 2013 | Steve Forbes
    Don’t put it past our politicians to try it in a financial emergency. The breaking of contracts by the U.S. government, unfortunately, has happened before, and what’s under way in Cyprus shows that feckless politicos will continue to try such things. In 1933–34, amid the depths of the Great Depression, the U.S. government seized the American people’s gold holdings. From that point, until 1975, it was illegal for Americans to own gold, other than in some forms of jewelry or collectors’ coins. In the panic of the Depression years the courts upheld this unconstitutional confiscation. Yes, people received dollars in...
  • Bernanke: Get rid of the debt ceiling, it has no practical value

    01/15/2013 5:23:41 AM PST · by Sir Napsalot · 59 replies
    Washington Examiner ^ | January 14, 2013 | January 14, 2013
    Federal Reserve Chairman Ben Bernanke criticized the debt ceiling as an unusual device that can be used to prevent the United States from paying it’s bills, as he suggested that the country would be better off if the debt limit did not exist. “I think it would be a good thing if we didn’t have [the debt ceiling],” Bernanke told students at the University of Michigan today. “I don’t think that’s going to happen. I think it’s going to be around.” Those remarks put Bernanke in agreement with Treasury Secretary Tim Geithner, who has said that Congress should eliminate the...
  • Bernanke's Dustbin

    01/08/2013 1:11:46 PM PST · by Kaslin · 8 replies
    Townhall.com ^ | January 8, 2013 | Bill Tatro
    Let me see if I understand this correctly.  QE4 is announced and it was declared that bonds will be purchased for as long as the eye can see or until we achieve an unemployment rate of 6.5%.  Several weeks later, the majority of Federal Reserve officials announced that it would be “appropriate” to end QE4 prior to the end of 2013 or by the end of 2013.  So, what the heck happened to 6.5% unemployment?  The Fed, for almost 100-years, has operated with two mandated objectives, namely stable prices and full employment.  In order to achieve those goals, they can...
  • Need a Job? You May Have to Wait Until 2015 or Later, Says the Fed

    12/14/2012 7:09:52 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | December 14, 2012 | Donald Lambro
    WASHINGTON - Everything you ever wanted to know about the Obama economy is in a single sentence about the Federal Reserve Board's latest attempts this week to deal with unacceptably high unemployment. "Fed officials projected that the jobless rate, now at 7.7 percent, would not reach 6.5 percent until near the end of 2015 at the earliest," The Washington Post reported in its lead front page story Thursday morning. If there's anyone out there -- besides Barack Obama's top advisers and diehard allies in Congress -- who think his economic policies, or lack thereof, will restore a weak economy to...
  • Bernanke's Act of Terrorism

    09/15/2012 4:56:05 AM PDT · by tselatysr · 7 replies
    Tea Party Tribune ^ | 2012-09-14 23:46:19 | mrcurmudgeon
    By Mr. Curmudgeon:While Islamic militants riot outside U.S. embassies overseas, and kill American counselor officials and their support personnel, another terrorist act just as deadly took place on American soil. Federal Reserve Chairman Ben Bernanke announced his independent, in your face, answer-to-no-one agency will flood the U.S. economy with $40-billion-a-month in counterfeit greenbacks to buy worthless mortgage-backed securities. He said the Fed would continue the policy "until such improvement is achieved in a context of price stability." That's Fed speak for "Forever."Commodity prices, like oil for instance, soared after Benny boy's announcement. So much for "price stability."As if to prove...
  • If Bernanke Bails Out Obama Get Ready For Five Buck Gas - Post Election

    09/06/2012 5:51:33 PM PDT · by billflax · 14 replies
    Forbes ^ | 09/06/2012 | Bill Flax
    Once there was an unwritten rule that the Federal Reserve would refrain from significant policy adjustments before an election. Few things are as encompassing to culture as our currency, or as vital that they be thought free of intrigues. With public confidence in the dollar diminished, or perturbed by politics, society suffers this dearth of trust in more than just finance. Commentary abounds that Mr. Bernanke will soon commence yet more quantitative easing, QE3 for short. Why? Clearly the ongoing economic stagnation stems not from prohibitively high interest rates. Rates hover just off historic lows. Given the moribund economy, financial...
  • Romney Reiterates He Would Replace Bernanke

    08/23/2012 3:50:24 PM PDT · by Perdogg · 31 replies
    Mitt Romney said Thursday that he would replace Federal Reserve Chairman Ben Bernanke, dismissing the advice of a top adviser who suggested this week that the chairman should be considered for a third term.
  • (European Central Bank head Mario) Draghi Gets Powers to Rival Bernanke

    07/08/2012 2:24:35 AM PDT · by Olog-hai · 3 replies
    CNBC ^ | Published: Tuesday, 3 Jul 2012 | 2:39 AM ET | (Via NYT)
    The spotlight in the European debt crisis has now shifted decisively toward the influential leader of the European Central Bank, Mario Draghi, who emerged from the recent summit meeting in Brussels with new powers and stronger backing to address the Continent’s financial woes. Political leaders took significant strides toward making the central bank more like the United States Federal Reserve, giving it authority to oversee the eurozone’s largest banks and, once that new regulator is in place as soon as the end of this year, a likely role in rescuing Spanish banks with capital directly from the European rescue funds....
  • You Don’t Need to be a Lefty to Support Krugman (You Just Need to be Economically Illiterate)

    06/17/2012 7:09:55 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | June 17, 2012 | Mike Shedlock
    Financial Times writer Samuel Brittan says You Don’t Need to be a Lefty to Support Krugman. Brittan kicks off with "The remedy for too little spending is more spending. Everything else is commentary." Who Decides? Just who gets to decide there is "too little spending?" Krugman? Brittan? How about the free market? Look at what promotion of spending got us. The mother of all housing bubbles is what. In a 2002 New York Times editorial Krugman said "To fight this recession the Fed needs…soaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble...
  • Fed Chairman Ben Bernanke warns of 'fiscal cliff' risks

    06/07/2012 7:18:21 PM PDT · by bd476 · 12 replies
    Excerpt from Los Angeles Times ^ | June 7, 2012 | By Don Lee
    WASHINGTON — Fears about a looming fiscal crisis at the end of the year are starting to pinch job growth and threatening to undercut the nation's fragile recovery, a growing number of economists and employers say. Federal Reserve Chairman Ben S. Bernanke, in testimony Thursday before Congress, repeatedly warned about the so-called fiscal cliff — a reference to the expiration of tax cuts Dec. 31 and the imposition of automatic spending reductions Jan. 1. By some accounts, the U.S. economy could see an unprecedented fiscal hit of as much as $720 billion if the slated changes take effect. They would...
  • Fed Chairman Ben Bernanke Warns Congress on ‘Taxmaggedon’: ‘If You All Go on Vacation...

    06/07/2012 7:09:27 PM PDT · by TigerLikesRooster · 12 replies
    ABC ^ | 06/07/12
    Jun 7, 2012 4:46pm Fed Chairman Ben Bernanke Warns Congress on ‘Taxmaggedon’: ‘If You All Go on Vacation, It’s Still Going to Happen’ The Federal Reserve Board Chairman had a stern warning today for Congress: “Taxmaggedon” is real, it’s coming and only lawmakers can save the nation from falling off this rapidly approaching “fiscal cliff.” “What is particularly striking here is that this is all pre-programmed,” Fed Chairman Ben Bernanke said. “If you all go on vacation, it’s still going to happen, so it’s important to be thinking about that and working with your colleagues to see how you might...
  • BERNANKE BONDS: Under Obama Fed’s Holdings of U.S. Debt Have Jumped 452%!

    06/07/2012 10:51:53 AM PDT · by CNSNews.com · 21 replies
    CNSNews.com ^ | June 7, 2012 | Terry Jeffrey
    (CNSNews.com) - Since President Barack Obama was inaugurated in January 2009, the Federal Reserve’s holdings of U.S. government debt have quintupled, according to the Fed’s official monthly balance sheet. On Jan. 28, 2009, a week after Obama’s nomination, the Fed owned $302 billion in U.S. Treasury securities. On April 25, 2012, the latest date reported, the Fed owned five and a half time that much in U.S. Treasury securities--$1.668 trillion. That is an increase from January 2009 of $1.366 trillion—or 452 percent. Under Obama, the Federal Reserve has become the single largest owner of U.S. government debt. When Obama entered...
  • Friends of Obama Allowed to Opt Out

    06/04/2012 6:56:14 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | June 4, 2012 | Lurita Doan
    Emigrant Bank was recently identified to receive a waiver that would allow the bank to opt out of rigorous Dodd-Frank requirements. These of course are the same new rules and regulations that Barack deems essential to the nation. Yet when the bank’s owner, Howard Milstein, who is a close friend and was a bundler for President Barack Obama’s 2008 campaign, protested that the new rules would seriously crimp operations of his bank, the Obama Administration worked with members of congress to grant him a waiver from the new rules. Other financial institutions and banks have consistently and vehemently argued that...
  • AIG Chief Sees Retirement Age as High as 80 After Crisis

    06/04/2012 6:03:48 AM PDT · by Perdogg · 34 replies
    Link only due to copywrite issues
  • Economic Collapse and Political Instability Got You Down?

    06/03/2012 6:21:29 PM PDT · by Lowell1775 · 21 replies
    Open Source Survival site ^ | June 3, 2012 | Ronin Gael
    The drumbeat quickens. Economic titans from Robert Zoellick, head of the World Bank, to George Soros….the beast that broke the Bank of England…..are saying the run through 2012 will be a repeat of 2008 only much worse. I won’t repeat what got us here. The history and the how are available on both this website and hundreds of others. Whether the working of a divine plan or the mere machinations of evil men, the world’s economic order is about to fold. We are in the mother of all bubbles. It is a toxic mix of fiat currency, inflated asset values,...
  • World of hurt: Global economy under threat as US job market falters and Europe and Asia slow

    06/03/2012 7:39:44 PM PDT · by 2ndDivisionVet · 18 replies
    The global economy's foundations are weakening, one by one. Already hobbled by Europe's debt crisis, the world now risks being hurt by slowdowns in its economic powerhouses. The U.S. economy, the world's largest, had a third straight month of feeble job growth in May. High-flying economies in China, India and Brazil are slowing, too...
  • Obama adviser Axelrod: Romney not 'qualified to call himself a job-creator’

    06/03/2012 6:13:16 PM PDT · by Libloather · 27 replies
    The Hill ^ | 6/03/12 | Kevin Bogardus
    Obama adviser Axelrod: Romney not 'qualified to call himself a job-creator’By Kevin Bogardus - 06/03/12 11:15 AM ET David Axelrod, a senior adviser to President Obama’s reelection campaign, said Sunday that presumptive Republican presidential nominee Mitt Romney does not have a record of a “job-creator.” Speaking on CBS’s Face the Nation, Axelrod said the former Massachusetts governor shouldn’t be considered an expert on the economy. Romney’s record in government and in the private sector was not about creating jobs, according to the Obama adviser. “No one’s arguing whether Mitt Romney’s qualified to be president. What we’re arguing is whether he’s...
  • Watch for avalanche of sell orders Monday

    06/03/2012 5:35:43 PM PDT · by John W · 34 replies
    MarketWatch.com ^ | June 3, 2012 | Mark Hulbert
    Monday’s trading will be the first opportunity stock investors in the U.S. will have to act on a major technical violation that occurred at Friday’s close: The breaking of the 200-day moving average. This could result in an avalanche of sell signals hitting the market at Monday’s open, since many technical analysts use the 200-day moving average as the dividing line between bull and bear markets. They consider the primary trend to be up so long as the market is trading above its 200-day moving average, and that this trend turns to bearish whenever the market closes below this average—and...
  • Layoffs to Begin Monday at RG Steel(4th Largest U.S. Flat-Rolled Steel Company)

    06/03/2012 5:34:39 PM PDT · by Son House · 16 replies
    WYTV.com ^ | June 3, 2012 | WYTV.com
    Layoffs will begin on Monday for workers at RG Steel in Warren. The company filed for Chapter 11 bankruptcy protection last week in Delaware. The financial problems will idle plants in Warren, West Virginia and Maryland. Over a thousand employees are effected. RG Steel said that despite cost reductions and improvements, it has been unable to succeed in the current market. The company is looking to sell its operations.
  • Friday's US Jobs Report Is So Stunningly Bad It's A Danger To The Global Economy

    06/03/2012 10:37:55 AM PDT · by Son House · 43 replies
    Business Insider ^ | Jun. 3, 2012 | AP Writers
    Alan Krueger, head of the president's Council of Economic Advisers, pointed out that the country has added jobs for 27 months in a row, including 4.3 million jobs in the private sector. The economy still has a few bright spots. Americans bought cars and trucks a strong pace last month, giving automakers their best May since 2008. Underscoring the challenge for Obama with five months to go in the campaign, a May poll by The Associated Press and GfK, a research company, showed that 52 percent disapproved of Obama's handling of the economy while 46 percent approved. Some financial analysts...
  • Time Bomb? Banks Pressured to Buy Government Debt

    06/01/2012 7:54:12 AM PDT · by TigerLikesRooster · 22 replies
    CNBC ^ | 05/31/12 | Jeff Cox
    Time Bomb? Banks Pressured to Buy Government Debt CNBC, NETNET, NET NET, EUROPE DEBT, GREEK DEBT, EUROPEAN DEBT CRISIS, ECB, EUROPEAN CENTRAL BANK Posted By: Jeff Cox | CNBC.com Senior Writer CNBC.com | 31 May 2012 | 02:42 PM ET US and European regulators are essentially forcing banks to buy up their own government's debt—a move that could end up making the debt crisis even worse, a Citigroup analysis says. Regulators are allowing banks to escape counting their country's debt against capital requirements and loosening other rules to create a steady market for government bonds, the study says. While that...
  • ‘Fear of the Future’ Keeps Lid on Economic Growth: Greenspan

    06/01/2012 8:03:47 AM PDT · by TigerLikesRooster · 13 replies
    CNBC ^ | 06/01/12 | Jeff Cox
    ‘Fear of the Future’ Keeps Lid on Economic Growth: Greenspan ECONOMY, INFLATION, EMPLOYMENT, UNEMPLOYMENT, MANUFACTURING, CPI, CONSUMER PRICE INDEX, JOBLESS CLAIMS Posted By: Jeff Cox | CNBC.com Senior Writer CNBC.com | 01 Jun 2012 | 07:39 AM ET Investors could revolt at a moment's notice against high government deficit levels, jeopardizing chances at a recovery and potentially sending interest rates soaring, former Federal Reserve Chairman Alan Greenspan told CNBC. The former central bank leader — nicknamed "The Maestro" by his supporters — said he worries the current economy could be heading on a path similar to 1979, when the 10-year...
  • What has caused the recent drop in oil price/bbl(about $20/bbl; $0.60/gal at the pump)? (Vanity)

    05/30/2012 7:51:58 PM PDT · by izzatzo · 49 replies
    self ^ | 05/30/2012 | izzatzo
    Actually, I know the answer to my own question. The answer is manyfold: Hussein has lifted the drilling moratorium; Hussein approved Keystone; Hussein has opened domestic exploration, drilling, and production; Hussein has opened the "strategic reserve"; Hussein didn't actually "invest" all those billions in Brazil's, etc. petroleum industries, he invested it our petroleum industry; Hussein Obama pees oil thereby increasing domestic supply driving the price down; isn't Obama wonderful? NOT I'm not an industry economist so what did I miss? Don't tell me it's all because of Memorial Day and summer's arrival, that doesn't make sense. This is not an...
  • White House Attempts to Spin Bad Jobs Report

    06/03/2011 10:07:30 AM PDT · by Justaham · 49 replies
    reddogreport.com ^ | 6-3-11 | Brian O'Connor
    Even though unemployment rose to 9.1% for the month of May, the White House wants you to believe this is good news. According to Obama economic advisor Austan Goolsbee, the country’s job situation is actually getting better. Today’s employment report shows that private sector payrolls increased by 83,000 [54,000 net] in May and the unemployment rate ticked up to 9.1 percent. There are always bumps on the road to recovery, but the overall trajectory of the economy has improved dramatically over the past two years.The monthly employment and unemployment numbers are volatile and employment estimates are subject to substantial revision....
  • World stocks fall on dismal US hiring report

    06/04/2012 4:17:22 AM PDT · by Cincinatus' Wife · 9 replies
    Houston Chronicle ^ | May 4, 2012 | PAMELA SAMPSON, AP
    BANGKOK (AP) — World markets took a beating Monday as another setback for the U.S. economic recovery sent investors fleeing from stocks. A weak U.S. jobs report flustered investors and intensified fears that a global recession was in the making. The dismal report released Friday came on the heels of other data that showed weak economic conditions in Europe and Asia.
  • Tokyo Hits 28-Year Low Amid Global Rout

    06/04/2012 3:23:45 AM PDT · by Islander7 · 8 replies
    CNBC ^ | June 4, 2012 | By: Reuters with CNBC.com
    The Tokyo market slumped to a 28-year low on Monday as Asian shares dived on fears of a nightmare scenario of euro-zone breakup, U.S. economic relapse and a sharp slowdown in China. Investors hedged against global financial and economic crisis, heading for havens such as the benchmark 10-year Japanese government bond whose yield fell below 0.80 percent to its lowest since July 2003. Ten-year JGB futures prices jumped to a 19-month high.
  • As economy stalls, Fed may have to step in (Definition of Insanity Alert)

    06/04/2012 3:04:50 AM PDT · by tobyhill · 21 replies
    msnbc ^ | 6/3/2012 | Edward Krudy, Reuters
    Things are shaping up for another hot summer on Wall Street, and there is a long, long way to go yet. Federal Reserve Chairman Ben Bernanke will be back on Capitol Hill on Thursday to testify before a congressional committee about the state of the U.S. economy. He's not going to get an easy ride. The blue-chip Dow average of stocks is now negative for the year. Employment appears to be slowing to a snail's pace and Europe remains mired in crisis. "This puts the Fed firmly in play and they will likely feel compelled to respond," said Tom Porcelli,...
  • Bernanke Calls Krugman "Reckless"

    04/27/2012 9:21:26 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | April 27, 2012 | Mike Shedlock
    Paul Krugman is now so far into outer space with ridiculous economic proposals that even Helicopter Ben Bernanke recognizes Krugman's proposals as "reckless". Bloomberg reports Bernanke Takes On Krugman’s Criticism Ignoring Own Advice
  • Ben Bernanke Says That His Son Will Graduate With $400,000 Of Student Loan Debt (Medical School)

    03/12/2012 12:15:42 PM PDT · by SeekAndFind · 56 replies
    The Economic Collapse ^ | 03/12/2012 | Michael Snyder
    Who ever imagined that Ben Bernanke would become a poster child for the student loan debt problem in America? Recently Bernanke told Congress that his son will graduate from medical school with about $400,000 of student loan debt. For most Americans, such a staggering amount of debt would almost certainly guarantee a lifetime of debt slavery. Unfortunately, Bernanke's son is not alone. According to the Federal Reserve Bank of New York, approximately 167,000 Americans have more than $200,000 of student loan debt. The cost of a college education has increased much more rapidly than the rate of inflation over...
  • Bernanke warns of slow progress ahead on jobs

    03/01/2012 2:09:34 AM PST · by U-238 · 7 replies · 2+ views
    Reuters ^ | 3/1/2012 | Mark Felsenthal and Pedro da Costa
    Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery. Bernanke told Congress that unless growth accelerated, the unacceptably high U.S. unemployment rate would not keep dropping. But he stopped short of signaling further Fed bond purchases, dashing the hopes of some traders in financial markets who were betting on more monetary stimulus. "The job market is far from normal," Bernanke said. "Continued improvement ... is likely to require stronger growth in final demand and production." The swift decline in the...
  • Kudlow: A King Dollar GOP?

    02/13/2012 5:19:08 PM PST · by Tolerance Sucks Rocks · 22 replies
    GOPUSA ^ | February 13, 2012 | Lawrence Kudlow
    Out on the campaign trail, Fed head Ben Bernanke is an unpopular guy. Mitt Romney and Newt Gingrich have both said they would replace Bernanke, not reappoint him. Rep. Ron Paul would swap the whole Federal Reserve monetary system for a gold-linked dollar, making the yellow metal legal tender. And it was Gov. Rick Perry of Texas, before he dropped out of the race, who said more quantitative easing by the Fed would be "almost treasonous." Republicans in Washington are equally unimpressed by Bernanke. Rep. Paul Ryan recently criticized the Fed for bankrolling our huge budget deficits and thereby accommodating...
  • Paul Ryan Bashes Bernanke For Killing Savings, Distorting Markets

    02/02/2012 9:37:14 AM PST · by Hunton Peck · 23 replies
    Forbes ^ | 2/02/2012 @ 11:49AM | Agustino Fontevecchia
    In a fascinating exchange between Federal Reserve Chairman Ben Bernanke and Congressman Paul Ryan, the Republican from Wisconsin accused the Fed of eroding peoples’ savings, creating a false sense of security by manipulating the yield curve, and bailing people out by indirectly engaging in fiscal policy. Bernanke hasn’t been comfortable the last couple of times he was forced to testify in Congress. On Thursday, the Fed Chairman was questioned by the House Budget Committee on the state of the economy. After giving his usual description of the economic outlook (inflation has remained moderate, unemployment is high, Fed will do whatever...
  • Opponent Is Obama, Not Bernanke

    10/12/2011 6:32:39 PM PDT · by Kaslin · 14 replies
    IBD Editorial ^ | October 12, 2011 | Editor
    Politics: You'd think a Republican debate on the economy would be a perfect time to blast Obama policies as an unmitigated disaster. Yet Obama escaped largely unscathed. Whom do these folks think they're running against? If aliens landed Tuesday night and managed to find the GOP debate on Bloomberg TV, they might think the GOP candidates were running against Ben Bernanke, someone named Dodd-Frank, Obama-Care and China. Newt Gingrich focused his ire, for example, on Bernanke, saying he's "the first person to fire." Michele Bachmann went on about Dodd-Frank, calling it "the jobs and housing destruction act." Rick Santorum said...
  • Bernanke from Jackson Hole: Economy is Washington’s problem (No QE3 for now...)

    08/26/2011 10:14:22 AM PDT · by SeekAndFind · 4 replies
    Hotair ^ | 08/26/2011 | Ed Morrissey
    Wall Street wanted to hear Ben Bernanke talk about cheap money today. Instead, the Fed chair offered no hint of any more easing of monetary policy, causing a slight decline in the stock market after his speech in Jackson Hole, Wyoming. Bernanke told the audience that Washington needs to start finding ways to create jobs fast in order to repair the economy: Bernanke’s speech at a central banking conference appeared to disappoint some market participants who had hoped the Fed chairman would make a clear case for a further easing of monetary policy. The U.S. dollar strengthened and stocks added...
  • Bernanke’s Perry Problem (Paul Krugman says Perry has Intimidated Bernanke into Passivity)

    08/26/2011 9:23:55 AM PDT · by SeekAndFind · 14 replies
    New York Times ^ | 08/26/2011 | Paul Krugman
    As I write this, investors around the world are anxiously awaiting Ben Bernanke’s speech at the annual Fed gathering at Jackson Hole, Wyo. They want to know whether Mr. Bernanke, the chairman of the Federal Reserve, will unveil new policies that might lift the U.S. economy out of what is looking more and more like a quasi-permanent state of depressed demand and high unemployment. But I’ll be shocked if Mr. Bernanke proposes anything significant — that is, anything likely to make any serious dent in unemployment or offer any serious boost to growth. Why don’t I expect much from Mr....
  • Howard Dean: Bush camp will ‘take Perry out’

    08/17/2011 11:43:41 AM PDT · by Sub-Driver · 53 replies
    Howard Dean: Bush camp will ‘take Perry out’ By Daniel Strauss - 08/17/11 01:59 PM ET Former Democratic National Committee Chairman Howard Dean predicted that prominent political supporters of former President George W. Bush will throw a critical blow to Texas Gov. Rick Perry’s (R) presidential campaign. “The Bush people don’t fool around, as you know,” Dean said Tuesday night on MSNBC. “You can say a lot of things about Bush’s presidency and his failures as president, but one thing nobody should say [anything] bad about [is] his political team. They know what they’re doing, and they are ruthless, and...
  • RICK PERRY SHOULD NOT APOLOGIZE FOR BERNANKE COMMENT

    08/17/2011 10:23:47 AM PDT · by NationalSpotlight · 14 replies
    National Spotlight ^ | 8/17/11 | Derek Petrella
    Republican presidential candidate Rick Perry made a statement about Federal Reserve Chairman Ben Bernanke calling his actions treacherous and treasonous. Of course, the media is coming to the defense of the chairman. Media Republican analysts such as Karl Rove and Bill Kristol are calling Perry's statement unpresidential and pathetic. Peter Wehner, a former Bush White House aide, wants Perry to apologize. Remember, Bush appointed Bernanke to head the Fed, so it is not surprising that former Bush officials are quickly coming to the defense of their pal Ben. The only person who should be apologizing is Ben Bernanke for pushing...
  • UPDATE 3-White House denounces Perry as Republicans target Fed

    08/17/2011 3:53:03 AM PDT · by SkyPilot · 98 replies
    Reuters ^ | 16 Aug 11 | Patricia Zengerle
    * Perry threatens Fed chairman, Bachmann also criticizes * Remarks reflect intense political pressure on Fed * White House says threatening Bernanke "not a good idea" (Adds fresh quotes from Bachmann, Obama, economist) WASHINGTON, Aug 16 (Reuters) - The White House denounced Republican presidential candidate Rick Perry on Tuesday for his threatening remarks toward the head of the U.S. Federal Reserve that represented some of the most inflammatory rhetoric of the 2012 election campaign. Campaigning in Iowa on Monday, the Texas governor said he would consider it "treasonous" if Fed Chairman Ben Bernanke "prints more money between now and the...
  • Big Government’s Big Spending Has Boosted Inflation and Killed 3.5 Million Jobs

    08/15/2011 8:58:36 PM PDT · by Tolerance Sucks Rocks · 6 replies · 1+ views
    Conservative Action Alerts ^ | August 12, 2011 | Chuck Roger
    Rising prices are no surprise to anyone who has been following the actions of Ben Bernanke’s Fed. Two rounds of “quantitative easing” injected more than $2.3 trillion into bank reserves, and thus to some extent into the economy. The more money chasing products and services, the more those products and services cost.Bernanke’s thinking was that by pumping trillions into the financial system, he could spur lending, investing, and spending via lower interest rates, and thus goose the economy. But the strategy not only hasn’t improved the economy, it has also had two major bad side-effects. Increased inflation is one side-effect,...
  • Stocks Suddenly Stage Huge Turn Around, As The QE3 Talk Begins For Real

    08/03/2011 11:34:43 AM PDT · by SeekAndFind · 75 replies
    Business Insider ^ | 08/03/2011 | Joe Weisenthal
    People have been speculating about the prospects for QE3 since before QE2 even got off the ground. And with the recovery sputtering and stocks plummeting, the drumbeat has gotten even louder. It helps that Jackson Hole -- the conference where Bernanke announced his plans last year -- is right around the corner. And now the talk begins for real. WSJ's crack Fed Report Jon Hilsenrath interviews some former Fed officials (Donald Kohn, Vincent Reinhart and Brian Madigan) and finds growing support for QE3 IF inflation comes down. And inflation seems to be plummeting everywhere (oil is below $92, all the...
  • Ben Believes Gold Only Has Value Due To Tradition (Gold then goes parabolic)

    07/13/2011 10:39:59 AM PDT · by SeekAndFind · 79 replies
    Zero Hedge ^ | 07/13/2011 | Tyler Durden
    This happened earler: From Brian Rogers of Fator Securities Ron Paul just asked the Bernanke if he thought gold was money. The bernank almost swallows his tongue, stares blankly for a few seconds and then says, “no.” Paul then asks why banks hold gold on their balance sheet? why not diamonds? the bernank says, “tradition, I suppose.” so let me get this straight, banks hold billions of dollars of an asset that pays no interest or dividends on their balance sheet for reasons of "tradition". nothing to do with anything else, just tradition. uh, yea. that must be it. classic!...
  • BEN BERNANKE: FED PREPARED TO RESPOND IF STIMULUS NEEDED

    07/13/2011 7:25:54 AM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 07/13/2011 | Joe Weisenthal
    Ben Bernanke's testimony at his Humphre-Hawkins testimony is just coming out. The big headline: BERNANKE SAYS FED IS PREPARED TO RESOND IF STIMULUS NEEDED. You can watch the full testimony here.