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They saw inflation where it did not exist and, when the official data did not bear out their predictions, invoked conspiracy theories. They denied that monetary or fiscal policy could support job growth, while still working to direct federal spending to their own districts. They advocated discredited monetary systems, like the gold standard.
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills: "It is like a family running up large credit card bills and then refusing to pay." We can forgive the public for not understanding this, but not its elected representatives. To Bernanke, nothing justifies taking the economy hostage by refusing to raise the debt limit. He's right; the best thing to do with the debt limit is scrap it so that government can pay its bills on time, unimpeded by political shenanigans.
President Barack Obama and the Congress resolved the 2011 debt-ceiling crisis by enacting the Budget Control Act, which imposed tough spending limits and required further "sequestration" spending cuts when Congress couldn't agree on a deficit-reduction plan. Bernanke "was relieved to see a resolution of the crisis, but worried about whether the fragile economic recovery could withstand the austerity measures that Congress seemed intent on imposing."
In Bernanke's diagnosis, reflecting his mainstream economic thinking, fiscal policymakers put the recovery at risk when, after enacting Obama's stimulus package in early 2009, they shifted into austerity mode. At the same time, state-level balanced-budget requirements forced a sharp drop in public-sector employment. (Typically, government employment rises in a recovery.) Tight fiscal policies, Bernanke wrote, "were arguably offsetting much of the effect of our monetary efforts" and making it difficult to achieve the Fed's full employment goal.
It wasn't pretty, and the economic recovery is taking much longer than it needed to. But the recovery wasn't derailed, partly because Republican leaders haven't wanted another debt-ceiling showdown or government shutdown for fears that it would hurt them at the polls.
But who knows what this week's meltdown among House Republicans over their next set of leaders portends?
Hell, there's nothing wrong with prices changing when the money supply increases. Inflation is not an issue.
Hell, there's nothing wrong with prices changing when the money supply increases. Inflation is not an issue.
This is from 2015, but it really shows how disconnected both parties are, particularly the republicans, when it comes to economics.
Ben Bernanke Is Fed Up
Here is some of his thoughts:
They saw inflation where it did not exist and, when the official data did not bear out their predictions, invoked conspiracy theories. They denied that monetary or fiscal policy could support job growth, while still working to direct federal spending to their own districts. They advocated discredited monetary systems, like the gold standard.
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills: "It is like a family running up large credit card bills and then refusing to pay." We can forgive the public for not understanding this, but not its elected representatives. To Bernanke, nothing justifies taking the economy hostage by refusing to raise the debt limit. He's right; the best thing to do with the debt limit is scrap it so that government can pay its bills on time, unimpeded by political shenanigans.
President Barack Obama and the Congress resolved the 2011 debt-ceiling crisis by enacting the Budget Control Act, which imposed tough spending limits and required further "sequestration" spending cuts when Congress couldn't agree on a deficit-reduction plan. Bernanke "was relieved to see a resolution of the crisis, but worried about whether the fragile economic recovery could withstand the austerity measures that Congress seemed intent on imposing."
In Bernanke's diagnosis, reflecting his mainstream economic thinking, fiscal policymakers put the recovery at risk when, after enacting Obama's stimulus package in early 2009, they shifted into austerity mode. At the same time, state-level balanced-budget requirements forced a sharp drop in public-sector employment. (Typically, government employment rises in a recovery.) Tight fiscal policies, Bernanke wrote, "were arguably offsetting much of the effect of our monetary efforts" and making it difficult to achieve the Fed's full employment goal.
It wasn't pretty, and the economic recovery is taking much longer than it needed to. But the recovery wasn't derailed, partly because Republican leaders haven't wanted another debt-ceiling showdown or government shutdown for fears that it would hurt them at the polls.
But who knows what this week's meltdown among House Republicans over their next set of leaders portends?
Indeed, especially when one recognizes that the government can never fail to credit accounts.This is from 2015, but it really shows how disconnected both parties are, particularly the republicans, when it comes to economics.
Ben Bernanke Is Fed Up
Here is some of his thoughts:
They saw inflation where it did not exist and, when the official data did not bear out their predictions, invoked conspiracy theories. They denied that monetary or fiscal policy could support job growth, while still working to direct federal spending to their own districts. They advocated discredited monetary systems, like the gold standard.
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills: "It is like a family running up large credit card bills and then refusing to pay." We can forgive the public for not understanding this, but not its elected representatives. To Bernanke, nothing justifies taking the economy hostage by refusing to raise the debt limit. He's right; the best thing to do with the debt limit is scrap it so that government can pay its bills on time, unimpeded by political shenanigans.
President Barack Obama and the Congress resolved the 2011 debt-ceiling crisis by enacting the Budget Control Act, which imposed tough spending limits and required further "sequestration" spending cuts when Congress couldn't agree on a deficit-reduction plan. Bernanke "was relieved to see a resolution of the crisis, but worried about whether the fragile economic recovery could withstand the austerity measures that Congress seemed intent on imposing."
In Bernanke's diagnosis, reflecting his mainstream economic thinking, fiscal policymakers put the recovery at risk when, after enacting Obama's stimulus package in early 2009, they shifted into austerity mode. At the same time, state-level balanced-budget requirements forced a sharp drop in public-sector employment. (Typically, government employment rises in a recovery.) Tight fiscal policies, Bernanke wrote, "were arguably offsetting much of the effect of our monetary efforts" and making it difficult to achieve the Fed's full employment goal.
It wasn't pretty, and the economic recovery is taking much longer than it needed to. But the recovery wasn't derailed, partly because Republican leaders haven't wanted another debt-ceiling showdown or government shutdown for fears that it would hurt them at the polls.
But who knows what this week's meltdown among House Republicans over their next set of leaders portends?
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills:
That's silly, the government brings in plenty of money to pay its bills.
This is from 2015, but it really shows how disconnected both parties are, particularly the republicans, when it comes to economics.
Ben Bernanke Is Fed Up
Here is some of his thoughts:
They saw inflation where it did not exist and, when the official data did not bear out their predictions, invoked conspiracy theories. They denied that monetary or fiscal policy could support job growth, while still working to direct federal spending to their own districts. They advocated discredited monetary systems, like the gold standard.
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills: "It is like a family running up large credit card bills and then refusing to pay." We can forgive the public for not understanding this, but not its elected representatives. To Bernanke, nothing justifies taking the economy hostage by refusing to raise the debt limit. He's right; the best thing to do with the debt limit is scrap it so that government can pay its bills on time, unimpeded by political shenanigans.
President Barack Obama and the Congress resolved the 2011 debt-ceiling crisis by enacting the Budget Control Act, which imposed tough spending limits and required further "sequestration" spending cuts when Congress couldn't agree on a deficit-reduction plan. Bernanke "was relieved to see a resolution of the crisis, but worried about whether the fragile economic recovery could withstand the austerity measures that Congress seemed intent on imposing."
In Bernanke's diagnosis, reflecting his mainstream economic thinking, fiscal policymakers put the recovery at risk when, after enacting Obama's stimulus package in early 2009, they shifted into austerity mode. At the same time, state-level balanced-budget requirements forced a sharp drop in public-sector employment. (Typically, government employment rises in a recovery.) Tight fiscal policies, Bernanke wrote, "were arguably offsetting much of the effect of our monetary efforts" and making it difficult to achieve the Fed's full employment goal.
It wasn't pretty, and the economic recovery is taking much longer than it needed to. But the recovery wasn't derailed, partly because Republican leaders haven't wanted another debt-ceiling showdown or government shutdown for fears that it would hurt them at the polls.
But who knows what this week's meltdown among House Republicans over their next set of leaders portends?
And how are the dems working on the central problem?This is from 2015, but it really shows how disconnected both parties are, particularly the republicans, when it comes to economics.
Ben Bernanke Is Fed Up
Here is some of his thoughts:
They saw inflation where it did not exist and, when the official data did not bear out their predictions, invoked conspiracy theories. They denied that monetary or fiscal policy could support job growth, while still working to direct federal spending to their own districts. They advocated discredited monetary systems, like the gold standard.
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills: "It is like a family running up large credit card bills and then refusing to pay." We can forgive the public for not understanding this, but not its elected representatives. To Bernanke, nothing justifies taking the economy hostage by refusing to raise the debt limit. He's right; the best thing to do with the debt limit is scrap it so that government can pay its bills on time, unimpeded by political shenanigans.
President Barack Obama and the Congress resolved the 2011 debt-ceiling crisis by enacting the Budget Control Act, which imposed tough spending limits and required further "sequestration" spending cuts when Congress couldn't agree on a deficit-reduction plan. Bernanke "was relieved to see a resolution of the crisis, but worried about whether the fragile economic recovery could withstand the austerity measures that Congress seemed intent on imposing."
In Bernanke's diagnosis, reflecting his mainstream economic thinking, fiscal policymakers put the recovery at risk when, after enacting Obama's stimulus package in early 2009, they shifted into austerity mode. At the same time, state-level balanced-budget requirements forced a sharp drop in public-sector employment. (Typically, government employment rises in a recovery.) Tight fiscal policies, Bernanke wrote, "were arguably offsetting much of the effect of our monetary efforts" and making it difficult to achieve the Fed's full employment goal.
It wasn't pretty, and the economic recovery is taking much longer than it needed to. But the recovery wasn't derailed, partly because Republican leaders haven't wanted another debt-ceiling showdown or government shutdown for fears that it would hurt them at the polls.
But who knows what this week's meltdown among House Republicans over their next set of leaders portends?
This is from 2015, but it really shows how disconnected both parties are, particularly the republicans, when it comes to economics.
Ben Bernanke Is Fed Up
Here is some of his thoughts:
They saw inflation where it did not exist and, when the official data did not bear out their predictions, invoked conspiracy theories. They denied that monetary or fiscal policy could support job growth, while still working to direct federal spending to their own districts. They advocated discredited monetary systems, like the gold standard.
Like anyone who understands the issue, Bernanke notes that refusing to raise the debt limit isn't about controlling spending, it's about government not paying its bills: "It is like a family running up large credit card bills and then refusing to pay." We can forgive the public for not understanding this, but not its elected representatives. To Bernanke, nothing justifies taking the economy hostage by refusing to raise the debt limit. He's right; the best thing to do with the debt limit is scrap it so that government can pay its bills on time, unimpeded by political shenanigans.
President Barack Obama and the Congress resolved the 2011 debt-ceiling crisis by enacting the Budget Control Act, which imposed tough spending limits and required further "sequestration" spending cuts when Congress couldn't agree on a deficit-reduction plan. Bernanke "was relieved to see a resolution of the crisis, but worried about whether the fragile economic recovery could withstand the austerity measures that Congress seemed intent on imposing."
In Bernanke's diagnosis, reflecting his mainstream economic thinking, fiscal policymakers put the recovery at risk when, after enacting Obama's stimulus package in early 2009, they shifted into austerity mode. At the same time, state-level balanced-budget requirements forced a sharp drop in public-sector employment. (Typically, government employment rises in a recovery.) Tight fiscal policies, Bernanke wrote, "were arguably offsetting much of the effect of our monetary efforts" and making it difficult to achieve the Fed's full employment goal.
It wasn't pretty, and the economic recovery is taking much longer than it needed to. But the recovery wasn't derailed, partly because Republican leaders haven't wanted another debt-ceiling showdown or government shutdown for fears that it would hurt them at the polls.
But who knows what this week's meltdown among House Republicans over their next set of leaders portends?
This man is the architect of the Shadow Banking System that magnified the catastrophe of the real estate subprime mortgage meltdown, Had he take appropriate action to suppress/discrourage CDS and CDOs we would be much more prosperous today.
But no, Helicopter Ben Bernanke couldnt be bothered to even look into the derivatives market.
Fuck Bernanke.
Another you are too dumb to understand post by fig Newton. Let's state what is economic fact. Low interest rates screwed middle class savers who were told all their lives to save money for retirement. Bernacke and Obama just shit on workers and savers. Failure to raise the interest rate far earlier than they did has increased the wealth disparity. It postpones the day of reckoning in financial matters, kicking the can down the road and causing artificial stimulation to the economy. Only the stock market, large companies, rich investors and the federal govt. benefit from this. The bubble in new car sales is a direct result of this easy money. The whole success of the stock market is directly coupled to easy money. So if your not making enough extra money to have a down payment to buy a home, low interest rates don't help at all. Low interest rates were just a scam to make obamas economy look much better than it was. Throw in the eradication of small banks everywhere and you reach the Obama goal of centralization and govt control. The next president will have to,pay the piper as Obama used cheap money to buy votes by expanding welfare and college loans. Sorry about my understanding of economics.
Another you are too dumb to understand post by fig Newton. Let's state what is economic fact. Low interest rates screwed middle class savers who were told all their lives to save money for retirement. Bernacke and Obama just shit on workers and savers. Failure to raise the interest rate far earlier than they did has increased the wealth disparity. It postpones the day of reckoning in financial matters, kicking the can down the road and causing artificial stimulation to the economy. Only the stock market, large companies, rich investors and the federal govt. benefit from this. The bubble in new car sales is a direct result of this easy money. The whole success of the stock market is directly coupled to easy money. So if your not making enough extra money to have a down payment to buy a home, low interest rates don't help at all. Low interest rates were just a scam to make obamas economy look much better than it was. Throw in the eradication of small banks everywhere and you reach the Obama goal of centralization and govt control. The next president will have to,pay the piper as Obama used cheap money to buy votes by expanding welfare and college loans. Sorry about my understanding of economics.
Republican states are increasingly becoming insolvent like Louisiana and Kansas because of their failed economics. Your hatred of a particular president doesn't change what's in the link. Try reading it.
Another you are too dumb to understand post by fig Newton. Let's state what is economic fact. Low interest rates screwed middle class savers who were told all their lives to save money for retirement. Bernacke and Obama just shit on workers and savers. Failure to raise the interest rate far earlier than they did has increased the wealth disparity. It postpones the day of reckoning in financial matters, kicking the can down the road and causing artificial stimulation to the economy. Only the stock market, large companies, rich investors and the federal govt. benefit from this. The bubble in new car sales is a direct result of this easy money. The whole success of the stock market is directly coupled to easy money. So if your not making enough extra money to have a down payment to buy a home, low interest rates don't help at all. Low interest rates were just a scam to make obamas economy look much better than it was. Throw in the eradication of small banks everywhere and you reach the Obama goal of centralization and govt control. The next president will have to,pay the piper as Obama used cheap money to buy votes by expanding welfare and college loans. Sorry about my understanding of economics.
Republican states are increasingly becoming insolvent like Louisiana and Kansas because of their failed economics. Your hatred of a particular president doesn't change what's in the link. Try reading it.
Dem states like Illinois are increasingly becoming insolvent because of their failed economics.
Another you are too dumb to understand post by fig Newton. Let's state what is economic fact. Low interest rates screwed middle class savers who were told all their lives to save money for retirement. Bernacke and Obama just shit on workers and savers. Failure to raise the interest rate far earlier than they did has increased the wealth disparity. It postpones the day of reckoning in financial matters, kicking the can down the road and causing artificial stimulation to the economy. Only the stock market, large companies, rich investors and the federal govt. benefit from this. The bubble in new car sales is a direct result of this easy money. The whole success of the stock market is directly coupled to easy money. So if your not making enough extra money to have a down payment to buy a home, low interest rates don't help at all. Low interest rates were just a scam to make obamas economy look much better than it was. Throw in the eradication of small banks everywhere and you reach the Obama goal of centralization and govt control. The next president will have to,pay the piper as Obama used cheap money to buy votes by expanding welfare and college loans. Sorry about my understanding of economics.
Republican states are increasingly becoming insolvent like Louisiana and Kansas because of their failed economics. Your hatred of a particular president doesn't change what's in the link. Try reading it.
Dem states like Illinois are increasingly becoming insolvent because of their failed economics.
A Red Herring re the link I posted.
