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Old 01-26-2008, 08:58 PM
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Default In Private, Bernanke Tells Horror Stories

Pretty telling for me....

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In Private, Bernanke Tells Horror Stories
January 22, 2008 04:46 PM ET | Bedard, Paul | Permanent Link

People wondering why Federal Reserve Chairman Ben Bernanke suddenly moved to reduce the bank borrowing rate by three quarters of a point should know that in private he has expressed growing pessimism about the economy. Whispers has learned that has told people in recent weeks that the economic situation some see falling into recession will be much worse than he has admitted to publicly.

We're told by those who've heard him that he says the first six months of this year will be "bad," an adjective that some interpret this as signaling there is better than a 50-50 chance for a recession. Even worse, the former Princeton prof believes the ensuing recovery will be "weak" because of persistent problems in the housing market that will result in subdued consumer spending. We checked in with his office, which says it doesn't comment on what the boss says in private. But it's certainly not comforting news considering that his recent public testimony was a bummer, like when he told Congress last week, "Recently, incoming information has suggested that the baseline outlook for real activity in 2008 has worsened and that the downside risks to growth have become more pronounced ... in particular, a number of factors, including continuing increases in energy prices, lower equity prices, and softening home values, seem likely to weigh on consumer spending as we move into 2008."
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Old 01-27-2008, 08:07 AM
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Originally Posted by cat's meow View Post
Pretty telling for me....
It's an election year, and we are headed toward electing a socialist to the White House and to putting socialists in a strong majority in both houses of Congress.

You'd be a fool not to understand what this is doing to the economy already, and what it portends for the econmy after the election.

Tokie
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Old 01-27-2008, 08:58 AM
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Originally Posted by Tokenconservative View Post
It's an election year, and we are headed toward electing a socialist to the White House and to putting socialists in a strong majority in both houses of Congress.

You'd be a fool not to understand what this is doing to the economy already, and what it portends for the econmy after the election.

Tokie
NO!! No!!! Its Bush's fault, its his Dad's Fault, its its its the GREEDY GOP, its everybody BUT Liberals and their PROGRESSIVE COMMIE leaders!!!

Story last night n ABC, about this CA couple singing the blues about the Housing slump, they can't sell their elaborate 4 bedroom house, and they have a real problem, they bought a MORE elaborate home in LA LA Land and now are stuck with TWO Mortages!!! How much other STUPIDITY, plus Liberal interference in the LENDING practices to avoid DISCRIMINATION, has caused UNQUALIFIED buyers to dive in over their heads!!

I drink Bud Light over the weekend after payday and about Wednsday I back off to Busch and Tap Beer, I don't BORROW to keep drinking the BEST beer, I adjust, overcome, improvise, something taught by my dad and honed to a fine point by the Army!!!
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Old 01-27-2008, 10:24 AM
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It is the reichpublicans and their fucked up ideas that got us into this. reichpublicans gave us the great depression, they fucked us in the 70s under nixon and then under reagan and they are fucking us again now.

reichpublicans are idiots. You conservatives do not understand how a country runs. You are all a bunch of fuckups.

Only an idiot belives tax cuts and deficit spending are the answer. America became great due to progressive/liberal ideas not fucked up backwards thinking conservatives. In any nation in the world conservatives, nationalists, etc fuck their countries up. Cumservaties have done nothing for the nation.

If you do not think bush and reicpublicans have any thing to do with the economy then you are a dumb ass.

What army are you in? The army wastes huge amounts of money. Military spending is out of control. Wasted money from company level right on up to the DOD.


So you think the banks and lenders were all being fair and honest? Of course big buisness would never cheat anybody. Enron proved that right?

People were only doing what republicans were doing. Spend, spend, spend and don't worry about paying for it.

bush the dumb fuck told people to go out and buy after 9/11 as it was patriotic. So people went out and spent on credit and they fucked themselves. Just like republicans are fuckign the country. What do you think is going to happen to the economy when are almost 10 trillion in debt? 30,000 dollars for each person living in the USA?

Republicans are just as dangerous to the USA as terrorists are. Not surprising as they are all a bunch of religious freaks.

Last edited by icebreaker-102; 01-27-2008 at 10:33 AM.
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Old 01-27-2008, 02:01 PM
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Originally Posted by Sgt Slaughter View Post
NO!! No!!! Its Bush's fault, its his Dad's Fault, its its its the GREEDY GOP, its everybody BUT Liberals and their PROGRESSIVE COMMIE leaders!!!

Story last night n ABC, about this CA couple singing the blues about the Housing slump, they can't sell their elaborate 4 bedroom house, and they have a real problem, they bought a MORE elaborate home in LA LA Land and now are stuck with TWO Mortages!!! How much other STUPIDITY, plus Liberal interference in the LENDING practices to avoid DISCRIMINATION, has caused UNQUALIFIED buyers to dive in over their heads!!
Governments create and control markets my friend. Who sets the % rates on money...market forces? Get a clue.
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Old 01-27-2008, 05:18 PM
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Originally Posted by icebreaker-102 View Post
It is the reichpublicans and their fucked up ideas that got us into this. reichpublicans gave us the great depression, they fucked us in the 70s under nixon and then under reagan and they are fucking us again now.

reichpublicans are idiots. You conservatives do not understand how a country runs. You are all a bunch of fuckups.

Only an idiot belives tax cuts and deficit spending are the answer. America became great due to progressive/liberal ideas not fucked up backwards thinking conservatives. In any nation in the world conservatives, nationalists, etc fuck their countries up. Cumservaties have done nothing for the nation.

If you do not think bush and reicpublicans have any thing to do with the economy then you are a dumb ass.

What army are you in? The army wastes huge amounts of money. Military spending is out of control. Wasted money from company level right on up to the DOD.


So you think the banks and lenders were all being fair and honest? Of course big buisness would never cheat anybody. Enron proved that right?

People were only doing what republicans were doing. Spend, spend, spend and don't worry about paying for it.

bush the dumb fuck told people to go out and buy after 9/11 as it was patriotic. So people went out and spent on credit and they fucked themselves. Just like republicans are fuckign the country. What do you think is going to happen to the economy when are almost 10 trillion in debt? 30,000 dollars for each person living in the USA?

Republicans are just as dangerous to the USA as terrorists are. Not surprising as they are all a bunch of religious freaks.
I was in the US Army under fire in SE Asia while you were sucking your mommies tit or on your way to Canada to avoid danger!! Lousy assed fucking Dems and their FEEL SORRY for Jose and Rastus, so we gets them a LOAN and then they don't work we pay for it, the market collapses, and its Bush's fault?? What a fucking dufus, are you going to tell us Hillary can piss over a barbed wire fence STANDING UP next???
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Old 01-27-2008, 07:15 PM
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Originally Posted by Sgt Slaughter View Post
I was in the US Army under fire in SE Asia while you were sucking your mommies tit or on your way to Canada to avoid danger!! Lousy assed fucking Dems and their FEEL SORRY for Jose and Rastus, so we gets them a LOAN and then they don't work we pay for it, the market collapses, and its Bush's fault?? What a fucking dufus, are you going to tell us Hillary can piss over a barbed wire fence STANDING UP next???
Actually it was the entire financial market to include title loan and mortgage guarantee companies who decided all the way up and down the line to give out a massive amount of these loans without regard to any of them (if not all) getting called in at once. These are loans that people could not pay for in the first place and any dimwit with a finance degree from a reputation school could have figured this out. They really did think they were going to make tons of money off of people who COULD NOT PAY---how do you make money off of people who have no money? Riddle me that.... It was their money and capital and these companies put it at great risk by not keeping anything on reserve to cover all these loans if they were to be called in. Like the massive Enron scandal that no Gov regulator actually questioned, there was no one to question a massive amount of very badly pakaged loans that no one in the world would be able to pay off unless you were at $500,000 of income a year.

This is also proves wrong the axiom of 'real estate' being the only solid investment and people taking out several mortgages to pay for investment housing. It is not the 'real estate' stupid, it is the value of the dollar that is chasing that real estate and the demand---values cannot be proped up as they have been in the last few years. And, too many at the top have done little with no regulation to guard against these problems.
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Old 01-27-2008, 07:32 PM
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Originally Posted by Sgt Slaughter View Post
I drink Bud Light over the weekend after payday and about Wednsday I back off to Busch and Tap Beer, I don't BORROW to keep drinking the BEST beer, I adjust, overcome, improvise, something taught by my dad and honed to a fine point by the Army!!!

Isn't that funny? I also grew up in a GOP household. We were taught to live below your means, save, work hard, and rely on YOURSELF.
Libs were taught that big Gov will ALWAYS be their to pick them up when they do stupid things.
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Old 01-27-2008, 07:35 PM
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Originally Posted by Still Dizzy View Post
Isn't that funny? I also grew up in a GOP household. We were taught to live below your means, save, work hard, and rely on YOURSELF.
Libs were taught that big Gov will ALWAYS be their to pick them up when they do stupid things.
Funny you should mention...actually big companies are taught they can f*ck up and the gov will write a bail out check, what is your point?
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Old 01-27-2008, 07:52 PM
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Governments create and control markets my friend. Who sets the % rates on money...market forces? Get a clue.
Cat, the government has nothing to do with it. The value of our currency is dictated by the illegal, unconstitutional Federal Reserve created during the holidays in 1913. As a result the dollar is worth 4 cents since the fed took it over. The government may whahhhhhhhhhhhhhhhh, whahhhhhhhhhhhh for lower rates to the fed, how do you lower rates, print more money out of thin air, but the fed in the Marble Rooms mandate.

The Fed is nothing more than a few private rich individuals, the Rothchilds, JP Morgan, Citibank and so on..........

Are lives, the basis of our currency is dictated by nothing more than greed and the people have no say in the matter.

Tie the dollar back to silver and gold, that is the only way to ensure the people don't get had by a bunch of foreign and domestic profiteers!
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