Bernanke Confirmed for Second Term, 70-30
Despite Bernie Sanders' commonsense arguments, Bernanke squeaked through. Well, good luck with that, I guess. I find what comfort I can in Paul Krugman's prediction that if Bernanke wasn't approved, they'd end up giving in to the Republicans and picking someone who's even worse:
WASHINGTON — The Senate gave Ben S. Bernanke a second four-year term as the head of the Federal Reserve on Thursday after critics excoriated the central bank’s conduct in the years leading up to the financial crisis.
The 70-to-30 vote was the weakest endorsement ever extended to a chairman in the Fed’s 96-year history.
The confirmation was a victory for President Obama, who had called Mr. Bernanke an architect of the recovery, but also signaled the extent to which the Fed, once little known to the public, has become the object of outrage over high unemployment and bank bailouts.
Obama calls him the architect of the recovery?
Burnedusyankee came out months before the financial crisis and said our banking industry and the economy was in tip top shape. Then he says give us 6 trillion or there will be Marshall law.
I know I know. It's stuff no one could imagine.
That's it! A failure of imagination!
We all knew helicopter Ben was going to get reconfirmed. Good thing the senate approved to expand our debt ceiling to $14 trillion yesterday.
We will default on our debt and there are a number of ways it may happen sooner than later. Here are just a few ways showing how it might start from outside the US. ...But don't worry, old Ben is helping us recover.
How Japanese Hyperinflation Could Turn The Dollar Into Toilet Paper
http://www.businessinsider.com/japans-hyperin...
UK economy lies 'on bed of nitroglycerine' – top financier
http://www.guardian.co.uk/business/2010/jan/2...
Funds flee Greece as Germany warns of "fatal" eurozone crisis
http://www.telegraph.co.uk/finance/comment/am...
Gloomy Scenarios as Bankers Duck for Cover
http://davos2010.theatlantic.com/2010/01/gloo...
Goodnight, Frau Blücher
Here's how it's all going to go down:
* 1979: US per capita energy use peaked; still floundering on a plateau in 2006, but ready to fall precipitously (‘cliff’) at any time
* 2005: World crude oil probably peaked; still on an undulating plateau in 2007; starts off the ‘cliff’ ~2010-2012 or before
* 2005: World food production (grains) peaked
* 2008 (or sooner): World Natural Gas peaks
* 2010 (or sooner): Natural Gas ‘cliff’ arrives
* 2012 (or sooner): US electricity blackouts and brownouts become the norm
* 2012: US potable, available water peak and ‘cliff’; shortages and waterborne diseases increase
* 2015: US Health Care System in complete chaos, breakdown and failure; sanitation, drugs, return of communicable diseases, poorer nutrition etc.
* 2015: World “Dieoff” begins in earnest; largely starvation, disease and poor healthcare caused
* 2030: US per-capita energy consumption hits the “30% mark-AFTER peak”, equaling year 1930 lifestyles again (probably much sooner than 2030)
According to the Food and Agriculture Organization, global food production will exceed population growth between today and 2030.
Obummer strikes again. giving Timmy "biscuit-head" Geitner a hug at the SOTU address. Now endorsing Benski here. highlighing tax cuts.
Obama wants to be everyone's friend. how sweet.
I have to go take a Reagan
Inhofe denialsense
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Oh my goodness! Did you hear that socialist making sense???
Economy grows 5.7%, fastest rate in six years
http://rawstory.com/2010/01/economy-grows-57-...
Depression is over. I, for one, welcome our newly anointed savior of all things economic.
I also heard that unemployment is less than 10%. And that inflation has barely budged in the last 20 years.
Any other statistics?
Some say it's better than expected.
Somewhere around 5%.
What is your conceptual, continuity?
Not that I think it's you guys
Just sick of getting lied to and watching others buy it.
Obama's not failing. The country is. You'll hear it last from the people in charge. just like they said everything is kosher just before the last meltdown.
I want this shouted from the treetops just to burn Fox News and the Republicans.
Think Fox will mention it?
http://www.foxnews.com/politics/2010/01/29/ec...
Tis a BS story based on manipulated, out of context statistics.
Of course they'll report it!
Also, the scary thing is that this is a result of Obama's stimulus, so it could be a blip.
We may have to keep spending billions more in stimulus to make it repeat.
Kinda like Carrie Prejean.
http://www.youtube.com/watch?v=k1sHfDOZ2hg&fe...
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
is that they'll use these stats to cut back on the stimulus, FDR 1937 redux
I'll wait for the Krugsters opinion
There will be another stimulus package.
But, we must remember who bears the responsibility for this economic collapse.
Yes, I understand that Bernanke, Gietner, all of the money men in this country. All of them are in on this ripoff. They all have their fingers in the till.
And the fault lies at the feet of the last admin.
All Obama is doing is trying to fix it.
I don't understand why Bernanke got reappointed.
This looks more and more like a shell game everyday.
You're story/link from Bloomberg is very disturbing. To put it mildly.
Gotta go, have a nice day.
What is your conceptual, continuity?
http://www.youtube.com/watch?v=s_0HMmQLgY4
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Please elaborate. You are stretching me every which way.
http://en.wikipedia.org/wiki/File:Jake_pickle...
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
We need a group like the Inglorious Basterds to hunt down the neo-cons and their enablers in Washington.
Is that a call to violence? No. It's a call for a movie. Brand Pitt and his group of renegade Jews kill off evil doers in Washington one by one.
I think it will be a comedy.
In this country it's more likely that it would be the other way around: far right wingnuts doing the assassinating. At the moment, they seem to be the most inclined to advocate violence against people to further their ends.
who they confirm...it's always going to be some insider who would never rock the boat or do anything meaningful.
If Ron Paul had his way, the position would stay vacant and the institution would be dissolved.
Mrs. Eason, none of this would have happened. It is an unending trail of tears.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Please elaborate.
But may give you a hint.
http://wiki.answers.com/Q/Why_did_Andrew_Jack...
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
he would have already slew the Fed Reserve money changer dragon by now. ibiddle
From a video deriding the hypocrisy of the Fed for having Jackson on the $20 note.
"I accept gold and silver as payment. All future purchases I make will be paid for in gold and silver. I'm serious! I will cite the Constitution for them to prove what legal tender is. If they won't accept my payment, they will lose my business, simple as that. We can end the New World Order if we reject all paper money. It's so simple!"
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
he would goad one of them into insulting his intelligence, then challenge them to a duel...poof
(on-going story)...of the Liberty Dollar?
http://www.libertydollar.org/
audit-prosecute-incarcerate
no big surprise.
"Hi. My name is Bernard von NotHaus. I was so concerned about what was happening to our country's "money" that I created the Liberty Dollar. For 25 years, I was the Mintmaster at the Royal Hawaiian Mint and devoted those years to the study of money,"
Your money ain't worth the pixie dust its molded in, Nut House. Show me your Hawaiian birth certificate. Long form. Paper!
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
I expected more support for someone who tried to "compete" with Greenspan and Burnanke...
besides...you gotta be a little nutty to take on "The Fed"
here is von Nothaus on "Kudlow and Kramer"
http://www.youtube.com/watch?v=ReIz3u5g5o0
audit-prosecute-incarcerate
I'm sure Geithner and Bernanke are totally out of the loop and unaware of the secret banking cabal:
Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.
From Bloomberg
get me some more peanut butter
I imagine if I had splashed into the water beside the sinking Titanic and scrambled aboard a lifeboat only to find it was captained by the Titanic's captain...
I'd feel pretty safe knowing he understood nautical things so well. I might start to worry if he claimed the lifeboat was unsinkable, though.
What if the captain took your remaining money, possessions and all your clothes and threw them over the side for no apparent reason? Would you still feel safe?
Reality check…
Just for clarity
statusquObama, change you can only pretend in
Hmm. This lifeboat looks suspiciously like the sinking ship I just got off of.
NOW we are getting somewhere!
statusquObama, change you can only pretend in
Let Inhofe row, Kucinich navigate, and swim alongside to make sure
there were no icebergs just below the surface.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Inhofe would row with one arm, watch out where he puts the other one
unidenitified stars that at least gave us comfort on the expansive North Atlantic that we are not alone.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
off my tiller, Jim!
He's prepared cause he eats seaweed.
Inhofe wouldn't eat anything that itself did not dine on waving wheat that sure smells sweet when the wind... and walk on hooves.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Ryan Grim [9.7.09] here
Yves Smith comment [9.10.09] after Ryan Grim
here
Ryan Grim [11.18.09] here
---
One economist not in the Fed Bag
Simon Johnson [1.28.10] here
statusquObama, change you can only pretend in
See Obama got Bipartisanship!
this sens a message to everyone on wall st. too! WE got your back big guy's!
Change I believed in. woohoo
18 righty's voted no...
11 lefty's voted no...
Bernie Sanders voted no...
...take notes and re-elect no-one (and end "The Fed"!
http://www.senate.gov/legislative/LIS/roll_ca...
audit-prosecute-incarcerate
Fascism in the US is here to stay.
eliminated the use of Bonaparte comparisons to unite the American left and right in their historical invectives.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Bernancke's confirmation signals that innovative job creation plans will take a backseat until at least 2014 - and probably later since a Republican will likely be in Office then. He was clueless on the housing bubble. (via Barry Ritholtz).
Young people should probably learn to speak Mandarin starting yesterday.
.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
how well prepared Mexico and our other neighbors in Latin America will be to absorb large numbers of gringo political and economic refugees from the wasteland that is becoming the USA ? -- or should I say, from Estados Unitos de Norte America ?
Somehow, I don't think they will be especially happy to see us on their doorsteps like red-headed step-children. Perhaps a portion of the Obama jobs creation program should include language lessons, in Arabic, Cantonese, Mandarin, and Spanish ! No Child Left Behind ? Pfft ! That was so last year's educational agenda ...
;-)
"Those who make peaceful revolution impossible will make violent revolution inevitable."
-- John F. Kennedy
The Idiots have taken Over!
These genuises didn't even realize there was a reccession going on until December 2007!
Anyone who works for a living and is even slightly intelligent, knew we were in a reccession during the entire Bush reign of pillage.
If I were a psychopath, I would join the republican party, and get in on the gravy train taking the Teabircher morons to the cleaners.
Never believe the Republicans are only the party of "No." They'll say yes if it's necessary to advance their agenda, though they'd certainly rather stand in faux opposition while the Dems do it for them.
Corruption favors the wealthy.
Is Friday morning at 6:00 a.m. a blog approximation of a news dump?
Corruption favors the wealthy.
must taste delicious. Because 70 people just love feasting on it. I wish my job rewarded failure like these guys do.
Every single day I am reminded of how I, and many other people, got duped in voting for Obama. Oh how I wish that Kucinich, Dean or Grayson were in his seat instead.
I'm headed to the bar...
NOBODY 2012
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