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Wanted, Dead Or Alive: Ben Bernanke

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http://www.independent.co.uk/news/business/comment/stephen-foley-bernanke-must-rise-above-the-jibes-from-perrys-texas-holdem-economics-2340953.html

Wanted, dead or alive: Ben Bernanke, chairman of the Federal Reserve. Yes, it has been a startling week for America's mild-mannered central banker, to have heard a supposedly serious presidential candidate calling for him to be lynched.

"If this guy prints more money between now and the election," the Texan Governor Rick Perry said of Mr Bernanke, "I don't know what y'all would do to him in Iowa, but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treasonous in my opinion."

The establishment reaction to Mr Perry's comments on the campaign trail has been that they were a gaffe, an unwise reminder of the rhetorical style of George W Bush and a tickling of Republican primary voters that the Governor will come to regret when he courts independents in the election next year. To my mind, they were something all together more depressing: another example of the eroding legitimacy of the Federal Reserve and the dangers to come for the world's largest economy.

Let's deconstruct Mr Perry, shall we? "This guy" is a Princeton professor whose academic work was devoted to understanding the Great Depression and whose public service has been devoted to preventing a repeat. "Playing politics" is not something the Republican Mr Bernanke could give two hoots about, "between now and the election" or ever.

And "treasonous"? The fact that the word would even pop into Mr Perry's head shows you how far the "End the Fed" movement has moved the debate in the US. Ron Paul, another Republican presidential candidate, articulates the position more intelligently, arguing that decades of loose monetary policy have eroded the purchasing power of the dollar and undermined the US's power in the world. By that logic, Mr Bernanke is indeed at the head of a fifth column.

But "printing more money" – expanding the money supply through quantitative easing – might be the last tool left to counter contractionary pressures that are everywhere you look. Consumers have gone off the idea of having giant personal debts, government at all levels is shedding staff and slashing budgets. Businesses have lost faith in the economy's ability to grow strongly. Republicans have ripped out the levers of fiscal policy, leaving Mr Bernanke as the only bulwark against a second recession. This is why, every time a Fed official hints at new round of quantitative easing, the value of American companies soars on the stock market.

No wonder the Dallas Fed chairman has been distancing himself from Bernanke.

Yet again we see in the mainstream press that it's possible to avoid the contraction, you cannot avoid a contraction in an economic system which has been caused by bubble economics, the system has to rebalance.

Businesses in the past only grew strongly because of debt which has created malinvestments, the economy can only recover once the bad investments are in the open.

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http://www.independent.co.uk/news/business/comment/stephen-foley-bernanke-must-rise-above-the-jibes-from-perrys-texas-holdem-economics-2340953.html

No wonder the Dallas Fed chairman has been distancing himself from Bernanke.

Yet again we see in the mainstream press that it's possible to avoid the contraction, you cannot avoid a contraction in an economic system which has been caused by bubble economics, the system has to rebalance.

Businesses in the past only grew strongly because of debt which has created malinvestments, the economy can only recover once the bad investments are in the open.

pure rhetoric..nothing more.

this guy is a fully paid-up member of the corporate gang.

the PTB have seen NOTHING of the wave of retribution that is about to be levelled against them....when this one kicks off,it will be no use trying to manipulate the political body...there will be quite enough people disenfranchised with them to expell them from the likes of the US and england through fear alone...that's besides the sword that will be brought upon them from whichever private island/corner of the globe they choose to frequent as they ATTEMPT to bring down our cousins across the pond.(it will not be successful)

their name wil be blackened SO badly,as to make the whole world aware as to who they are,and what they will do if other authorities choose to engage with them......ie this is what is happening to us,play with these guys and it will be your turn next.

.....they will be dealt with like toxic waste........not even the most impoverished slave would request their services.

Edited by oracle

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I posted this in Current Affairs some days ago, no one was interested

Big mistake, always post here in the main forum and then let the mods decide if it needs moving, that's how it works on HPC.

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I find this bit of the article noteworthy:

Let's deconstruct Mr Perry, shall we? "This guy" is a Princeton professor whose academic work was devoted to understanding the Great Depression and whose public service has been devoted to preventing a repeat. "Playing politics" is not something the Republican Mr Bernanke could give two hoots about, "between now and the election" or ever.

It's funny how Stephen Foley (the author of this article) immediately protects Bernanke and pushes Perry into the lunatics corner, obviously Stephen Foley is either a shill or he hasn't got a clue what's really going on (and therefore not suited at all to write business commentaries).

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http://www.independent.co.uk/news/business/comment/stephen-foley-bernanke-must-rise-above-the-jibes-from-perrys-texas-holdem-economics-2340953.html

No wonder the Dallas Fed chairman has been distancing himself from Bernanke.

Yet again we see in the mainstream press that it's possible to avoid the contraction, you cannot avoid a contraction in an economic system which has been caused by bubble economics, the system has to rebalance.

Businesses in the past only grew strongly because of debt which has created malinvestments, the economy can only recover once the bad investments are in the open.

...OK ..Perry says 'no printy'....good so far...but what are his alternative strategies..?....none as far as I can see...therefore he has become part of the problem...and as "a Princeton professor whose academic work was devoted to understanding the Great Depression".... indicates being an academic elitest is no proof of common sense.... :rolleyes:

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He wants to go after Bernanke , a puppet of the bankers , instead of going after the federal reserve private cartel itself which IS the bankers.Says alot , Bernanke is just a puppet he does what the elite say.

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He wants to go after Bernanke , a puppet of the bankers , instead of going after the federal reserve private cartel itself which IS the bankers.Says alot , Bernanke is just a puppet he does what the elite say.

...Ok ...he saddles up with his lasso twirling above his head and pulls him in...then what....the question is...what is he going to do to improve matters as an alternative to 'printing'.....this is negative garbage he speaketh...ideas man....?...ideas....?.... :rolleyes:

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I really hope Rick Perry becomes Prezidunt. He seems to have stolen George Bushes vocal cords, affording me the opportunity to turn on the radio, listen to him stumbling through a sentence and pretend its 2000 again, a more innocent time.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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