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

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  •  Agreed. The Fed could do QE3, but why? (21+ / 0-)

    The reality is corporate America is sitting on about $1 trillion of cash right now.  Consumers are tapped out, having increased credit card debt the last 2 quarters, and with the market down and the housing crisis still depriving us of any wealth effect or ability to borrow off equity. Repubs are keeping gov't sector from helping.

    Increasing the monetary supply at this point, when the money is not being used, wont' do anything.

    The short-term mentality and the effects of hedge funds and private equity have led to a capitalist system that no longer provides for growth.  The virtuous cycle is broken, and the downward spiral is now in full force.

    Liberalism is trust of the people tempered by prudence. Conservatism is distrust of the people tempered by fear. ~William E. Gladstone, 1866

    by absdoggy on Fri Jun 08, 2012 at 05:35:22 AM PDT

    [ Parent ]

    •  And when Bill Clinton lauds our caapitalist system (1+ / 0-)
      Recommended by:

      even to the degree that he praises Mitt Romney's role in it, I can't help remembering that his beloved Chelsea is married to an investment banker formerly with Goldman Sachs now with 3G Capital Mgmt.

      Eliminate tax breaks that stimulate the offshoring of jobs.

      by RJDixon74135 on Fri Jun 08, 2012 at 03:27:43 PM PDT

      [ Parent ]

      •  Clinton recently said (0+ / 0-)

        that Jaime Dimon, head of JP Morgan "would make a great president". Gag me with a spoon.

        In retrospect, Clinton is a P.O.S. who enabled the present mess by allowing the repeal of Glass-Steagal. I'm no longer a fan of our last, or current Democratic POTUS.

    •  We dont need more growth. (0+ / 0-)

      We need sustainability with dynamic cyclical patterning. We need change and evolution not just more and more.

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