Best political cartoon ever, "Bernanke for President" (thanks to Chuck Asay)

you can't seem to get anything right, i know exactly what reliable means

consistently good in quality or performance; able to be trusted

 

No you DON'T

BTW, Ben The Printer has decided to hit "CTRL-P" yet again.

•*FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME'
•*FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE
•*FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END
•*FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST'
•*FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015

 

Today's the day that we will get to see what the REAL President of the USA decides to do. My bet is that he will announce a partial QE3 at first, and then they'll do more later when nobody's looking. These creeps are the "men behind the curtain" and they never want us to know what they are REALLY doing.

 

I gotta say, this is a long ways from the best political cartoon ever IMO.

 

uncover your eyes, i already posted direct evidence that refutes that

none of that changes the fact that the fed doesn't print any money at all

the treasury does, the fed creates money and so do all banks

every time money is leant, money is created

it's not printing, not even close

yea, it's a shame that some people are so ill-informed and gullible

 

My eyes are wide opened. You should be more concern about own eyes and brain. And you have yet to provide any evidence that refutes Ben DOES NOT print money.

CRTL-P = Printing. No amount of your mindless and senseless spinning will change that.

Banks can't create loans from thin air can they?

 

Hi, Iriemon. I'm sure you don't agree with what the political cartoon reveals, but it is true, as of today, that Ben "Bailout" Bernanke is definitely pulling out all the stops to try to help Obama sustain the illusion of a continued "recovery".

I asked you several times when all this bond-buying "QE ad-infinitum" nonsense would ever end, and you said it would not happen until Republicans agree to big tax increases on the "1%". I think we both know that even if they increased taxes on the 1% until the government confiscated 100% of their income (ON PAPER), the rich wouldn't pay any more -- which is little, or nothing!

So, bottom line, Bennie goes on "printing" (notice the quotation-marks, dujac) worthless money, the debt will continue to increase, and the country heads into more and more trouble. Worthless money makes a worthless economy!

 

really, take an economics class and stop being so gullible

that's his job, to maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates

and it doesn't matter who the president is, the fed is non partisan

 

Can banks create loans from "THIN AIR"?

Can't answer a very simple question can you?

 

More nonsense. The Fed can't control anything except supporting their cronies and Wall Street bankers to flip bonds for a living. My goodness. Your BS did not fool anyone then, it does not now. Drop it already.

 

Ben the Chair Satan is running out of options. He has no choice but to keep interest rate at ultra low so his buddy Tim The Turbo Tax can refi old debts at cheaper rates. The public debt is enormous yet government interest expenses have been relatively flat in the last couple years. Hiking long term interest rate would blow up this fragile economy given how bad the fiscal mess is. The question is how long can he postpone the inevitable of bonds bubble burst? The Japs have been doing it for 20 yrs now so my guess is we're okay for a while.

 

You have a point. The Fed only has so many levers it can pull.

It's time for Congress to man up and set up a plan to balance the budget.

 

It's not going to happen. Bank on that.

Obama will extend tax break for the super-wealthy in exchange for handouts for the POOR. Bernanke has no choice but to devalue US currency until he can no longer do that. They're doing exactly the political road map that Keynes laid out long time ago....“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose..... "

"In the long run, we're all dead."

 

If anyone questions why this post and this man is significant please take about an hour of your time and watch this link;
http://www.youtube.com/watch?v=_dmPchuXIXQ
http://www.youtube.com/watch?v=lBZne09Gf5A&feature=watch_response
http://www.youtube.com/watch?v=SjUrib_Gh0Y&feature=relmfu
http://www.youtube.com/watch?v=_BVNN1wqw3k&feature=watch_response
http://www.youtube.com/watch?v=VPPFgHF9VR4&feature=relmfu

Some of it is a bit extremeist but everything is now days. It's still good information to think about

 

There are lots of make believe conspiracy videos out there. I can show you some that "prove" we never went to the moon and that 9/11 was a US Govt plot if you want the links.

 

Could be if we continue to elect ideolouges whose priorities are getting the other party out of office instead of working for what is best for the country.

Keynes was talking about the rampant inflation in Europe following WWI, not the ~2-3% we've had the past 30 years.

 

It does not matter who is elected at this point. They're Wall Street's puppies. They will do what their bosses tell them to do.

Yeah. If you believe that scam CPI.

When gaz hits $5/gaz, a recession is a lock.

Beware. Plan your trade accordingly.

 

it's an irrational question

zeitgeist is full of misinformation on the federal reserve

you really have to be naive to think it's accurate


here's one example

at 5:59 peter joseph says president wilson said, "I am a most unhappy man. I have unwittingly ruined my country."

it isn't true, wilson did not say that, in fact he was proud of the federal reserve act legislation


[video=youtube;_dmPchuXIXQ]http://www.youtube.com/watch?v=_dmPchuXIXQ[/video]


FRIDAY, DEC 21, 2007

The unhappiness of Woodrow Wilson

Did the president lament the day he "unwittingly ruined" his country by creating the Federal Reserve?
BY ANDREW LEONARD


Did Woodrow Wilson bitterly regret his role in creating the Federal Reserve? Some readers of my post yesterday on Ron Paul and the Federal Reserve believe so. Two of them proffered an identical quote as evidence.

I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world -- no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.

On the hundreds of Web sites on which this quote appears, it is typically taken as proof of Wilson's remorse at handing over control of the nation's money supply to a cabal of Wall Street money men. A common framing: "Woodrow Wilson signed into effect the Federal Reserve Act on December 23, 1913. And said the following just six years later." Even the Wikipedia page for Woodrow Wilson includes the quote, as proof that "Historians generally agree that Wilson hated the Federal reserve, and it made him, by his own word, "a most unhappy man..."

Frequency of repetition doesn't make for reliable sourcing, however, and convincing documentary evidence that Wilson uttered such words, in reference to his role creating the Federal Reserve, is hard to come by. In fact, the available evidence suggests that the quote is an after-the-fact fabrication made by splicing together passages of different Wilson statements that have nothing at all to do with the Federal Reserve.
Two separate portions of the quote appear in The New Freedom: A Call for the Emancipation of the Generous Energies of a People," published in 1913. "The New Freedom" is a distillation of campaign speeches Wilson made while running for President in 1911.
On page 185 there is the following section:

A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.

And on page 201:

We are at the parting of the ways. We have, not one or two or three, but many, established and formidable monopolies in the United States. We have, not one or two, but many, fields of endeavor into which it is difficult, if not impossible, for the independent man to enter. We have restricted credit, we have restricted opportunity, we have controlled development, and we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world -- no longer a government by the opinion and the duress of small groups of dominant men.

Now, this is all good rabble-rousing stuff, but its relevance to the creation of the Federal Reserve is nonexistent. The speeches these quotes were adapted from were delivered before the Federal Reserve was created. And as for the melodramatic utterance: "I am a most unhappy man. I have unwittingly ruined my country," well, so far, the sourcing well is coming up dry.

Some may question whether such historical nitpicking is relevant to the current presidential campaign. They may do so as they please. But if you want to engage in conspiracy theory, it's a good idea to get your facts straight.
UPDATE: Via e-mail, John M. Cooper, a professor of history at the University of Wisconsin, and the author of several books on Woodrow Wilson, writes:

"I can tell you categorically that this is not a statement of regret for having created the Federal Reserve. Wilson never had any regrets for having done that. It was an accomplishment in which he took great pride."


http://www.salon.com/technology/how_the_world_works/2007/12/21/woodrow_wilson_federal_reserve

 

That's what I thought. You know jack about monetary policy/banking system yet you're running your mouth 24/7 about it. Scary weird.

 

CPI is a scam? How so?

 

i've forgotten more about monetary policy and banking than you're likely to ever know

 

Ben The Chair Satan conveniently toss out literally every necessity costs to make the "inflation".... ...his favorite word "SUBDUED". In reality, average Joe spends a big chunk of his paycheck on gas, groceries, health insurance (projected to rise 4% next year....oops), property tax & insurance, college....etc....you name it. Taking all necessity costs into inflation calculation, REAL inflation could top 10% easily. BUT BUT BUT the inflation is "SUBDUED".

Subdued my ()().

 

Why don't you enlighten us about monetary policy eh?

I don't think your incoherent ONE liner trolling would do the trick.

Lmao!@!

 

i've been doing that all along, you seem to be too dense to grasp it

 

with the exception of property tax, all those are covered in the cpi



What goods and services does the CPI cover?

The CPI represents all goods and services purchased for consumption by the reference population (U or W) BLS has classified all expenditure items into more than 200 categories, arranged into eight major groups. Major groups and examples of categories in each are as follows:

FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks)

HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)

APPAREL (men's shirts and sweaters, women's dresses, jewelry)

TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)

MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)

RECREATION (televisions, toys, pets and pet products, sports equipment, admissions);

EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);

OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).

Also included within these major groups are various government-charged user fees, such as water and sewerage charges, auto registration fees, and vehicle tolls. In addition, the CPI includes taxes (such as sales and excise taxes) that are directly associated with the prices of specific goods and services. However, the CPI excludes taxes (such as income and Social Security taxes) not directly associated with the purchase of consumer goods and services.

http://www.bls.gov/cpi/cpifaq.htm#Question_7