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View Diary: Why what Ben Bernanke said yesterday should make you angry (102 comments)

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  •  I don't think the fed is worried about inflation (14+ / 0-)

    as much as it is worried that its tools have done all they can.

    Romney is campaigning to be President SuperBain; his cure is to cut wages, end pensions, let companies go bankrupt, and let the assets of production go dark or be sold to China. He really thinks thats the best of all possible Americas.

    by Inland on Fri Jun 08, 2012 at 05:02:36 AM PDT

    •  oh oh my god... I agree (1+ / 0-)
      Recommended by:
      OIL GUY

      Bad is never good until worse happens

      by dark daze on Fri Jun 08, 2012 at 06:21:01 AM PDT

      [ Parent ]

    •  That's exactly it (6+ / 0-)

      And no lesser authority that Paul Krugman has said so on many occasions and he gives Bernanke generally high marks.

      I completely don't understand the vilification of Bernanke of all people on this website.

    •  He also said he would like Congress to do more. (6+ / 0-)

      Like maybe pushing through some STIMULUS! A Jobs bill, public works projects and on and on....

      •  Learn to read between the lines (2+ / 0-)
        Recommended by:
        akadjian, qofdisks

        In order for Bernanke to print money the debt ceiling has to be raised. That is all he is interested in. The banks capital is still taking a beating (See JP Morgan).

        The banks need more money so yes the debt ceiling will be raised but only when we see public rebukes from the banks for not raising it. They need the money. If Europe gets worse, and it will, the cry will be that much more louder. Not only does Bernanke have to print against T-Bills, but he has to print for all the banks. Debased currency = inflation for the rest of us and higher deficits which means less money for social programs.

        The public BS is Kabucki theater, nothing more. He cannot hide inflation when people see if everyday they go into the grocery store.

        Only people that have been unaffected by this depression would believe for a second the FED has done a good job.

    •  There is a fear of fast, high inflation if the... (2+ / 0-)
      Recommended by:
      Pluto, Dburn

      economy catches and heats up really fast. Some worry that with all the QE already in the system, the Fed might not be able to pull it out fast enough.

      There's also talk of hyperinflation, but I don't think that's likely to happen. Although I wouldn't rule it out with all the money games being played in Washington. But since we seem to play those games better than others around the world, US money is still considered a safe haven... unless and until the Tepubs have their way.

      -We need Healthcare Reform... but i'm selfish, I Need Healthcare reform-

      by JPax on Fri Jun 08, 2012 at 11:21:30 AM PDT

      [ Parent ]

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