Bernanke’s Balancing Act

The Bush Depression


In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
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 the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

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 exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex 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 either didn't care or didn't realize that anything 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.
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 surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
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 isnt obama 25 points ahead

The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

Let's teach him we are smarter than that .

31 states are voting now, dont wait
Elect Obama Biden 2008





Check out this video of sarah palins interview before you vote



http://www.youtube.com/watch?v=r36Xc0GG4i

"Invest in our future" seems like a cliche, but it's not.

As a public high school teacher, the current state of our public institutions reflect our values as a society, from my point of view. We are bailing out these failing institutions with taxpayer dollars while the state of our public school system continues to decline. I ask American voters to consider the following comparison of our institutions: private sector financial powerhouses vs. our public school system.

Good teachers are being laid off and class sizes are growing. No child left behind is a law that requires improvements without the promised funding to implement these improvements. And our schools are listed as "failing schools" because of unrealistic goals from unfunded mandates by the federal government. What is left in our public schools is often a stressed out skeleton staff that does not have the ability to properly educate our students.

Meanwhile, corporate lobbyists effectively secured deregulation and what they consider "optimal" conditions for their financial success (deregulation). And a few well-connected people have lined their pockets with enormous amounts of other peoples' money.

This sort of short-term gain at the expense of long-term growth way of thinking has infected our entire way of running our society. Enough is enough.

Unfortunately middle and lower class young people (the MAJORITY) of our future do not have the money or the resources to hire corporate lobbyists. Their teachers and their schools have very limited resources. Where are the organized efforts to actually support the reform and progress to advance our public schools into the 21st century and educate and prepare our future?

In every other developed and developing country we compare our students' progress with, there is a clear and dedicated effort to improve, fund, and prioritize education. In America, we are starving our schools while bailing out reckless fat cats who've thrived on greed. Is this the American Way? Or have we lost our way?

Imagine where we might be in ten years if only a FRACTION of the billions our federal government has spent on the Iraq war and corporate bailouts were actually INVESTED in making our public schools the most advanced in the world. THAT IS INVESTMENT. We will be "paid back" in our BEST capital resource: Highly Educated American Workers.

Let this be a lesson. Hopefully (as we say in class) we will learn from our mistakes and use our lessons to improve, grow, and succeed - hasn't that been the American Way?

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Is this the depression that comes when "irrational exuberance" meets realit y?

They are not worried about inflation, rather they are worried about a total collapse of the financial markets and the ensuing "deflation spiral" that will follow. They understand that the banks aren't lending money to consumers and the cut in rates is only being used as a banking system "bailout". Just wait until the bond insurers get downgraded. You think .75% is a panic? They will be at 1.5% overnight rates before year end. We are indeed on the cusp of a long, hard credit contraction that will force people and companies to write off debt and start anew. When will it end? You'll know it when the Gov't isn't talking about sending tax rebate checks, rather they will be talking about a banking system bailout ala the Resolution trust Corp of the 1980's

Bernanke's Gamble: Betting on gamblers who are already proven losers to suddenly start winning.

Sometimes we have to let PRICES RISE it is a healthy thing. A Person who never gets sick can never build up an immune system to fight future more devestating viruses. It is not good to get sick all the time but it part of our biological developmet. PRICE CONTROLS ARE BAD WHY? Any price control below market rates and/or the expenditure of national savings (financial reserves) to hold down monetary devaluation are inflationary. Price controls and the expenditure of financial reserves subsidize inflationary levels of demand and prevent increases in supply. They make it much more difficult - much more painful - to bring inflation to a halt and restore healthy and sustainable economic growth.
Monetary inflation is a TAX used by governments to expand the money supply and transfers wealth from its people to itself.
Even when there is little "price" inflation, stable prices just mean that governments, by printing more money or otherwise expanding the money supply ("monetary inflation"), has appropriated for itself all the benefits of each year's increase in productive efficiency.Therefore the measures used to hold down price increases are actually additional forces or causes behind inflation, that will cause even further price increases in the future.
"Our country is too large to have all its affairs directed by a single government. Public servants at such a distance, and from under the eye of their constituents, must, from the circumstance of distance, be unable to administer and overlook all the details necessary for the good government of the citizens; and the same circumstance, by rendering detection impossible to their constituents, will invite public agents to corruption, plunder and waste." --Thomas Jefferson to Gideon Granger, 1800. ME 10:167
"I consider the foundation of the Constitution as laid on this ground: That "all powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States or to the people." [X Amendment] To take a single step beyond the boundaries thus specifically drawn around the powers of Congress, is to take possession of a boundless field of power, no longer susceptible of any definition." --Thomas Jefferson: National Bank Opinion, 1791. ME 3:146

Its a pretty bad sign when the entire economic engine hinges on the fed maintaing cheap money to fuel over priced housing and stocks. What ever happened to creating wealth through increased productivity. This cannot end good. Ever try and get a crack addict to quit? It usually only ends one of two ways.

A big faction in inflation is the cost of energy - it's already driven up food prices, and will drive up the price of all goods and services if energy costs aren't controlled.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.

It is completely clear that you can drop rates to nothing and NOT create inflation. All you have to do is LIE about the inflation rate like our government does. Gullible, parroting media types then drone on and on about "core" aka FAKE inflation......Core inflation doesn't count food OR gas. So it's a fake, BS number. The government spouts that out, and pseudo-journalists carry the government line (lie). Inflation is probably actually around 7%. They are lying, and americans just believe the lie.