The Money Man

Bernanke is everything that Alan Greenspan could have been had he not been spineless in front of the noecons or blinded by his own neocon ideology. and followed the right policies of intervention to cause two or three Volcker-style mild economic slowdowns during W's first and second terms by raising interest rates, causing the banks and investment houses to bolster their liquidity, and reined-in the explosion in Credit Default Swap trading. Both Bernanke and Greenspn are what Ian Ayres, Econometrician and Lawyer at Yale calls, in his latest book with that title, "The Supercrunchers".. In other words, they are both equally at ease with the right intuition to have a gut feel of where the market is heading in reflection of 'investor sentiment', and with numbers to grasp both the right time and the extent of market intervention that is required.

There are many tools of economic analysis that have become available in the past ten or fifteen years that are very effective for the type of policy-mix just mentioned.. In addition to having this type of bi-valent skills, Bernanke is, unlike Alan, more sympathetic to the neo-Keynesin school of economc thought espoused by Hyman Minsky. Hence his proposition, today, for a hefty dose of fiscal spending stimulus, hopefully for large-scale public works to upgrade the nation's infrastructure that so badly neds precisely this kind of outlay, added to a further round of interest rate cut and combined with the heavy fiscal stimulus that China is said today to have decided to give ITS economy, will go a long way towards avoiding a depression. Concerning recession, we already are in one (the final GDP figures wil not be available to confirm that until at least another semester from now), and if the economy starts to recover in six months' time (provided the hefty fiscal spending package Bernanke recommends is implemented fast), that recovery will also be slow and 2009 will be 'lost', but 2010 might see us and the world coming back to normal.

All this provided any further military adventures are avoided, attempts to derail necessary and meaningful reform of the international financial architecture (e.g. by putting the Managing Director of the IMF on the defensive) are denounced and quashed and unnecessary invective is avoided against potential partners(OPEC, including China over arms sales to Taiwan, Iran over it support of Hamas, Venezuela over its promotion of Bolivarian policies, Brazil over its well-earned assertiveness, and pushing Saudi Arabia in its Persian-phobia).

If all these conditions are met, and we have Obama sworn in as President on January 20 and Paul Krugman becomes Secretary of theTreasury, then America will usher in a new Twenty-first Century Enlightenment, and all that we have lived during the past eight years will be like a very, very, very bad nightmare.

Superman? Bernanke is the one who raised interest rates 17 straight times without pause. Bernanke is the one who let inflation dictate Fed policy instead of missing all the signals we were slipping into recession. Bernanke is the one who let Lehman go bankrupt without rescuing it which caused the current seizure in credit markets. It is Bernanke's predecessor who caused the housing bubble in the first place with misguided Fed policy.

Superman? I think not.

It's a terrible time to be a Fed Chairman, with such a market-spooking name to boot. Correct me if I'm wrong, but doesn't Bernanke mean Bear Paw (or Ankle) in the land of Ashkenaz aka Germany? Guess everyone would still like to see a long Span of (mostly) Green arrows on the big board.

I believe that the real recession hasn't even started. We're still in the very early stages of the effect of credit markets on real economy, we haven't seen much of the defaults, and the real economy hasn't really even went through one single loop of downwards spiral (which will happen).

Bernanke has to keep in mind the fact that China doesn't appear to be willing to finance US current accounts deficit, that the demand, and, most importantly, expected future demand for US exports is diminishing and that we are yet to see how this whole ordeal affects Europe and Asia. I tend to think that we're in all this for between 3 and 7 years - until the current trade imbalances are resolved.

THE GREAT BUSH DEPRESSION
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current meltdown and the picture he paints about what will happen next
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything seen in generations
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
It is no surprise that he doesn't. The people that make up these securities use quantum mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that
Stand up and hold them accountable
Bush isn't on the ballot this year but his policies are
Elect Obama Biden 2008






Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

THE GREAT BUSH DEPRESSION
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current meltdown and the picture he paints about what will happen next
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything seen in generations
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
It is no surprise that he doesn't. The people that make up these securities use quantum mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that
Stand up and hold them accountable
Bush isn't on the ballot this year but his policies are
Elect Obama Biden 2008






Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

Time for some real economists to "rescue" the world with economic growth that creates wealth rather than inflated asset-prices. One does not have to be a genius to "print" money and bail-out their mates who have taken their money from the phony profits. These Central Bankers have created a disaster that they now claim to be rescuing us from using the same techniques that created the disaster. Crony capitalism, private profits and public losses are some of the relevant descriptions. America became great based on capitalism and is being destroyed by socialism, central bankers and the abuse of the fiat banking system.

What a shame Mr. Bernanke squandered his knowledge and good reputation by working for the most corrupt administration in modern history. He'll have that black mark on his CV for the rest of his life. Enjoy your golden parachute to retirement, Mr. Bernanke.