Ben Bernanke

[Dwarven Empath]

Do we really want this guy?

I know its an election year, but damn do the right thing!

For once!

[Kembal]

Heh...what would you consider the right thing? Raise, hold, or lower the interest rate?

He's gotta raise it, IMHO.

[Gan]

So far he's done well.

Exactly what fault do you find in him?

[TheEschaton]

Ben Bernacke's son is a friend of mine...nonetheless he's no Alan.

[Hulkein]

This thread is pretty vague.

[NocturnalRob]

Ben Bernacke's son is a friend of mine...nonetheless he's no Alan.

Greenspan's waffling and lack of foresight is part of the reason we're getting bent over right now. Bernanke has done a great job trying to correct everything.

And yes, this thread is vague. No idea what OP is talking about. Bernanke was appointed to a 4-year term that doesn't end until January 2010. What exactly are you suggesting?

[Atlanteax]

We needed a 0.25% INCREASE yesterday.

[Dwarven Empath]

He should of dropped it .5 on wednesday.

Now we'll probably have to wait until Aug 5th.

With this way of thinking no wonder everything is fucked up.

All those people who borrowed too aggressively, who loaned too leniently, and who invested too imprudently… they need to be punished," he said.

"If they don't learn a lesson now," he added, "it will only be worse the next time."



After enduring the March scare, investors are hardly in the mood to be retested. But June has been brutal, wiping out 8% of the stock market's value and $1.4 trillion in shareholder wealth, based on the Dow Jones Wilshire 5000. So far this year, investors have lost 11.4% of their portfolios, or $2.0 trillion.


Yep its a mess.

[Gan]

He should of dropped it .5 on wednesday.

Now we'll probably have to wait until Aug 5th.

With this way of thinking no wonder everything is fucked up.
Dropped it .5?!? Are you serious? He's already shifted into inflation mode, which I think is a little late but better than never. A .5 drop would have sent the dollar into a freefall - and you would have seen gas prices initiate a 2nd burn into orbit over $200 a barrel.



All those people who borrowed too aggressively, who loaned too leniently, and who invested too imprudently… they need to be punished," he said.


"If they don't learn a lesson now," he added, "it will only be worse the next time."

Welcome to the real world. There are no saftey nets for being greedy - nor should there be. (Bear Stearns included damnit!)


After enduring the March scare, investors are hardly in the mood to be retested. But June has been brutal, wiping out 8% of the stock market's value and $1.4 trillion in shareholder wealth, based on the Dow Jones Wilshire 5000. So far this year, investors have lost 11.4% of their portfolios, or $2.0 trillion.


Yep its a mess.
Welcome to a market correction, it is a common facet of the business cycle. And here I thought you only really considered a loss if you sold the devalued stock. In fact, now is the time to consider dollar cost averaging and buying more stocks.

I'm glad Bernanke held things flat after this meeting. It was very necessary IMO. I have to agree with Atlanteax in wishing we had a .25 bump - we need to recover the dollar first and foremost so we can take inflationary pressures off of petrolium which equates to removing pressure off of inflation of other goods and services. That needs to be the Fed's first priority - not bailing out the greedy mortgage industry.

Pay attention to your avatar - its correct if you understand whats causing the shoes to drop. ;)

[Daniel]

Welcome to the real world. There are no saftey nets for being greedy - nor should there be. (Bear Stearns included damnit!)


Perfect example of why people don't trust Republicans.


They rail on and on about personal responsibility, about free market competition, but then make up some scam story about how it's neccessary to bail out big banks\companies when they fuck it up.

Yet, we can't afford an increase in the minimum wage. Sure.

[Parkbandit]

Perfect example of why people don't trust Republicans.


They rail on and on about personal responsibility, about free market competition, but then make up some scam story about how it's neccessary to bail out big banks\companies when they fuck it up.

Yet, we can't afford an increase in the minimum wage. Sure.

LOL... how dare those Republicans rail on and on about personal responsibility! You don't see liberals worrying about that! I can see how you are attracted to that party.

And PS - If you read Gan's post.. he's actually saying that the Bear Sterns bailout was wrong. Perfect example of why people think liberals are dumb.

[Daniel]

You obviously missed my point...

[Parkbandit]

If the point was you don't know what you are talking about.. I got it.

[Daniel]

I see you still lack the ability to read and comprehend. I don't know why I think it will be different from any other day.

[Parkbandit]

I see you still lack the ability to read and comprehend. I don't know why I think it will be different from any other day.

Why don't you just do what you always do.. come up with an excuse or story as to why you posted like you did.. I'll laugh at you and point out your mistakes.. and you'll just post "Riiight".

[Gan]

Perfect example of why people don't trust Politicians.

Fixed that for you.

[Clove]

We needed a 0.25% INCREASE yesterday.


Dropped it .5?!? Are you serious?...now is the time to consider dollar cost averaging and buying more stocks...

I'm glad Bernanke held things flat after this meeting. It was very necessary IMO. I have to agree with Atlanteax in wishing we had a .25 bump - we need to recover the dollar first and foremost so we can take inflationary pressures off of petrolium which equates to removing pressure off of inflation of other goods and services. QFT.

[Daniel]

Why don't you just do what you always do.. come up with an excuse or story as to why you posted like you did.. I'll laugh at you and point out your mistakes.. and you'll just post "Riiight".

Huh? What the fuck are you even talking about?

[Daniel]

Fixed that for you.

Seeing as you how you have no problem making the distinction between democrats and republicans, I think it's only fair to keep this as "Republicans".

[Gan]

Seeing as you how you have no problem making the distinction between democrats and republicans, I think it's only fair to keep this as "Republicans".

Right, because Democrats can do no wrong.

Quit being absurd.

:banghead:

[longshot]

He should of dropped it .5 on wednesday.

Now we'll probably have to wait until Aug 5th.

With this way of thinking no wonder everything is fucked up.

All those people who borrowed too aggressively, who loaned too leniently, and who invested too imprudently… they need to be punished," he said.

"If they don't learn a lesson now," he added, "it will only be worse the next time."



After enduring the March scare, investors are hardly in the mood to be retested. But June has been brutal, wiping out 8% of the stock market's value and $1.4 trillion in shareholder wealth, based on the Dow Jones Wilshire 5000. So far this year, investors have lost 11.4% of their portfolios, or $2.0 trillion.


Yep its a mess.

You have no fucking clue what you're talking about. None.

I'm curious... In your fucked up fantasy world where you actually believe that you correctly understand what the federal reserve is doing, what would your 50 bp cut do? I want to understand how stupid people think.

I only hope your retard strength doesn't break through the keyboard when you type your reply.

[longshot]

Perfect example of why people don't trust Republicans.

They rail on and on about personal responsibility, about free market competition, but then make up some scam story about how it's neccessary to bail out big banks\companies when they fuck it up.



Bear Stearns borrowed heavily in the repo loan market. If they went insolvent, it would have destroyed the repo loan market. This would have most likely collapsed the financial system.

The Fed has created devices much like other central banks to hold illiquid assets on their balance sheet. There was a significant haircut involved when pricing the securities.

These are not my words... they came directly from the head of the Fed open market committee. You can call it a sham story, but this was their reasoning.

The arguments for the dangers of moral hazard have come from all sides, both republican and democrat. The Fed has been designed to be politically independent in order to give it credibility.

I don't see how you can extrapolate this instance to a republican vs. democrat debate.

[Dwarven Empath]

Not to rub it in...

But finally!

[Keller]

Not to rub it in...

But finally!

Sometimes, in order for people to understand you, you need to articulate your thoughts.

[Dwarven Empath]

Ok

If you read what I said in the begining you would of understood.

Bernake fucked it all up by not, yes by not lowering the IR.

So a little while back the Government forced the fed to lower the rate a quarter of a percent.

And today the rate was lowered by a half of a percent.

So whythefuck didnt they lower it 5 months ago!

To me Berfuckingnake is an idiot.

so in conclusion

I'm moving to Scotland anyways.

LoL America

Born and breed, but.. sighs......It seems most like Baraka Hussian Obama.

I'm most not loving this..

MattD..

[Dwarven Empath]

To reply to Longshots post.

hahahahahhahhahhhahhahha

So said

I'm still concerned

[Parkbandit]

Not to rub it in...

But finally!


Huh? How do you figure you said anything right or wrong for that matter. I'm pretty sure we haven't done shit yet to get out of this mess, except for Washington to do what they always do.. throw money on the problem and hope it either gets buried or simply goes away.

[Dwarven Empath]

Your kidding me right?

LOL

Just watch.

If I'm wrong you will lose nothing. If I'm right..

You know.. It's a good thing.

Relish..

[Keller]

Your kidding me right?

LOL

Just watch.

If I'm wrong you will lose nothing. If I'm right..

You know.. It's a good thing.

Relish..

If you're right we'll loan out more money to leverage more fake money to push the economic pitfall off a few years?

[Gan]

Ok

So a little while back the Government forced the fed to lower the rate a quarter of a percent.

I stopped reading at this stupid statement.

Dont let the door knob hit you in the ass on the way out.