Bernanke Admits He Is Clueless

Discussion in 'Economy' started by Google, Jun 23, 2011.

  1. Google
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    Google Gold Member

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    Bernanke Admits He’s Clueless On Economy’s Soft Patch - Agustino Fontevecchia - Moral Hazard - Forbes

    If so-called experts like Bernanke are clueless as to why the economy is tanking, are they really ‘experts’?

    In the same press conference Bernanke made this stunning disclosure of his incompetence he warned against deficit reduction saying that the Republican’s plan to reduce the deficit “would [not] bring more jobs”.

    Bernanke is the man who championed TAARP and the Stimulus Act. In 2008 Obama and Bernanke were preaching that they had to save the economy by quadrupling the national debt; that spending trillions would create jobs.

    Employing fear artistically Obama told us we were in a crisis which required that he, reluctantly, take unprecedented steps. He criss-crossed the country telling anybody that would listen to him that we must pass stimulus. The Stimulus Act, among other things, awarded Obama’s top donor, Goldman Sacs (Goldman Sachs was top Obama donor - CNN), exuberant loans at .01% interest, free money.

    This administration has made claim after claim about what these unprecedented steps would accomplish—all of which have turned out to be blatant lies. There were no shovel-ready jobs. It was all bullshit. The rich and well-connected are the ones that benefitted from this administration’s economic policies. Stimulus didn’t go to blue-collar American workers, nor did it do a damn thing for infrastructure.

    The left loves to say Bush was the champion of the rich because he cut taxes. Obama openly gives the rich stimulus money and it's fine. :cuckoo:

    PAUL: Time to end Federal Reserve secrecy - Washington Times
     
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    Last edited: Jun 23, 2011
  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    "Clueless" CEO's of failed companies get fired, let's fire Bernanke and audit the Federal Reserve.
     
  3. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Good to know we have ignorant people in charge of important institutions.

    Of course, he cant actually attack the Administrations policies. He wants to stay employed.
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The Obama Administration is just one big Jobs Training Program for the unqualified.
     
  5. JWBooth
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    Several years late...
     
  6. GeoLaureate8
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    Bernanke knows EXACTLY what he is doing.

    You seriously think the man who is in charge of and in control of the entire nations currency and economy is clueless? Please.

    He's destroying the economy on purpose so they can instate a new currency, the Amero.


    .
     
  7. FuelRod
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    FuelRod Gold Member

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    It's a conspiracy.
     
  8. sealaw
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    sealaw Rookie

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    Naaah...couldn't be. That NEVER happens...! :lol:
     
  9. expat_panama
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    expat_panama Silver Member

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    That's a good link for what Forbes said about what Bernanke said. Anyone interested in what Bernanke said and not in need of Forbes doing all the thinking can use this link:
    [ame=http://www.youtube.com/watch?v=SC2wYdZjh1E&feature=mfu_in_order&list=UL]YouTube - ‪June 22, 2011 Press Conference with Chairman of the FOMC, Ben S. Bernanke‬‏[/ame]
    The flv file's 144mb but worth it as the interview is long and boring.

    BTW, what Bernanke actually said was nothing like what Forbes said Bernanke said.
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    [ame=http://www.youtube.com/watch?v=f5cR6JpRCnM]YouTube - ‪lil abner in the best of hands‬‏[/ame]
     

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