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View Full Version : Bernanke is an IDIOT!


mrprostar
02-14-2008, 01:05 PM
http://biz.yahoo.com/ap/080214/congress_recession_threat.html

Let me start by saying that I don't know that I could do his job much better, but sometimes he makes really stupid decisions, like opening his big mouth. This article and his "announcements" only make the economy worse. He continues to say the outlook is not good and the we are heading for a worsening recession. Maybe he doesn't know this, but Americans listening to just about everything they hear and read and judge their actions on that. So if we are heading for a recession then no one is going to spend anything or buy houses creating a worsening recession. If he were to say something positive while lowering interest rates than he would be helping himself. The way capitalism works is that it depends on th people knowing it works and trusting that it works. "the value of the dollar is dependant upon how valuable people think it is."

Bernanke- stop being an idiot!

Bruce
02-14-2008, 03:41 PM
Would you rather we all just "follow the yellow brick road?" What would happen if he lied about the economy when the truth came out? In this country we tell our citizens the truth.( I know but don't even go there) In other countries their govt. tells them what the want them to hear. Would you want your mechanic to check your oil and find out it was completely empty but no tell you for fear of scaring you!
Good or bad it is what it is!

Chicago190
02-14-2008, 03:45 PM
Would you rather we all just "follow the yellow brick road?" What would happen if he lied about the economy when the truth came out? In this country we tell our citizens the truth.( I know but don't even go there) In other countries their govt. tells them what the want them to hear. Would you want your mechanic to check your oil and find out it was completely empty but no tell you for fear of scaring you!
Good or bad it is what it is!

Agreed. Everyone knows that the economy is going to slow down over the next few months. In fact, I thought the yahoo article focused on the negative parts of his speech and didn't talk enough about how Bernanke and Paulson see economic growth picking up in the 2nd half of 08.

mrprostar
02-14-2008, 04:03 PM
I'm not suggesting he lie to us about it. Of course I don't want that. He has to realize that he has a major influence on it not only with interest rates but with his outlook. He needs to say something positive to help the cause. When a recession hits, what is the cause? People don't want to spend money and they dont because they are afraid of it hurting them in the long run. Bernanke has to help people have hope that that isn't going to happen. The media would run with it and things would start looking up. The economy does not rest strictly on the housing market but this "scare" affects everyone because of the fear people have. So it cannot be blamed on that alone.

OhioProstar
02-14-2008, 04:36 PM
The good news is the politicians will fix everything by giving people a stimulus check.

mrprostar
02-14-2008, 04:43 PM
Yeah can't wait to get mine so I can go buy another house!

endl
02-14-2008, 04:57 PM
Yeah can't wait to get mine so I can go buy another house!
Make sure its a Jumbo mortgage on an ARM.

mrprostar
02-14-2008, 05:35 PM
Is there anything else?

Leroy
02-14-2008, 05:40 PM
I hope they lower the interest rates enough to make it attractive enough to refinance :)

His comments are in line with most of the guests on CNBC, even though I don't like that view either.....

captain planet
02-14-2008, 05:46 PM
:popcorn: :popcorn: :popcorn:

endl
02-14-2008, 05:47 PM
They are close right now. I have seen quotes at 4.75 on 15 and 5.25 on 30. It will be interesting to see what difference the additional FHA money in the stimulas package changes those rates. Especially the Jumbo rates.

Leroy
02-14-2008, 06:01 PM
4.5 on 30 year fixed would save me couple hundred per month....

Harvey
02-14-2008, 07:35 PM
Bernake's comments have less effect than you think. They might affect affluent, upper income brackets, and possibly even upper middle income brackets but in truth if the cost of goods goes up and the income level of you average American doesnt increase in tandem those people will be forced to spend less. You have to remember that your "average" american is living paycheck to paycheck and when the cost of food and gas go up, which they both have, they don't buy other things.