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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.
PAUL: Time to end Federal Reserve secrecy - Washington Times
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.
PAUL: Time to end Federal Reserve secrecy - Washington Times
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