Fed Chairman Bernanke nominated for another term

[QUOTE="TheAbbeFaria"][QUOTE="coolbeans90"]

Wealth as opposed to less wealth is a good thing. I do not think that countries should be impoverished to encourage it. There were plenty of booms and busts with the gold standard. It is part of the capitalist system. People in Vietnam working for corporations I doubt are worse off than they would be without employment.

What the Fed targets with the money supply, is the price level. Keeping it stable provides a fair amount of predictability, and confidence in the market. Sure, the system is prone human error, but so does every other system.

coolbeans90

Alright, I do not know much latin. I just used a phrase which is commonly used in economics.

I think that priorities can be skewed, while exploitation is an unfavorable outcome, I think that central banks really do not play a role.

The key central bankers are appointed by our elected representatives.

[QUOTE="SaintLeonidas"]

[QUOTE="OBLOK"]Mate, i don't care what bs you are being fed, i hear it all the time. I don't need to convince you, you'll see it for yourself one day.

OBLOK

that dude seriously needs to raise interest rates some time this century. it's going to lead to serious problems. he should've done it before, and now he's using th edepression as an excuse to keep them low. it's bad economics.quiglythegreat

[QUOTE="OBLOK"]

[QUOTE="SaintLeonidas"] Yes, because you know more about it then everyone else? Including myself, a major in international business who has had many lectures and talks about this situation with a professor with doctorates in a few different fields of economics...I haven't been spoon fed anything. Anyone with the ability to watch the news, read a magazine or even look at the stats knows the economy is turning around and it is due in part mainly because of Bernanke, the FED and the bail outs. I admit that I don't know everything about the topic, but it is clear that you don't by the way you talk, make assumptions on the issue or what everyone believes. The steps that were taken in the past year, whether you argee with them or not have prevented a depression. You can worry all you want about the spending done with the bail outs, but it was a whole lot better then doing nothing.

SaintLeonidas

[QUOTE="coolbeans90"]

[QUOTE="TheAbbeFaria"] tu linguam latinam non dicis? desiste id dicere agis, ut non cogitis, ita? Wealth is unimportant, but when it becomes a goal, other goals become subject to it, and people die as can be seen in countries rife with famine today, but which offer corporations tons of cash from cheap labor and from land that wasn't given to them by the people. Furthermore, they work because that is the option they have under a government subject to other governments which mean to rape their lands and their people of their dignity. Lastly, our money should not be subject to rich bankers.TheAbbeFaria

Alright, I do not know much latin. I just used a phrase which is commonly used in economics.

I think that priorities can be skewed, while exploitation is an unfavorable outcome, I think that central banks really do not play a role.

The key central bankers are appointed by our elected representatives.

The purpose was to state that holding everything else constant, wealth is better than no wealth. It's easier to replace the the first half of the sentance with two words to save time. I was self owned I guess :P

I also do not agree with the Fed and its serious devaluation of the dollar, and consequent Inflation of everything compared to things of the past. This is not mutually exclusive to the POS USD, as all other modern currencies (including the POS Sterling) are fiat. The USD is following a similar path to the Weinmar currency, which imploded during the 1920's-1930's. That country (Germany) was ironically only saved because of the economic actions of the Nazi Party. If the U.S. were to collapse, it would bring down theentire modern world and throw humanity into what may be some of its darkest days. Globalization and interdependency are double-edged swords.

[QUOTE="SaintLeonidas"]The financial crisis really came out of nowhere, most including him didn'tsuspect it and even he has said that he could have and should have done more to prevent it...but when it did happen, and the country got closer and closer to a full blown depression, it was Bernanke who essentially prevented the worst of the worst from happening. He set many things in motion to get the economy back on track and it really should be him who oversees them for the next few years.

11Marcel

All banksters do is steal your money. And if you think what I'm saying is crazy, just take a look at argentina.

[QUOTE="quiglythegreat"]that dude seriously needs to raise interest rates some time this century. it's going to lead to serious problems. he should've done it before, and now he's using th edepression as an excuse to keep them low. it's bad economics.-Sun_Tzu-

[QUOTE="-Sun_Tzu-"][QUOTE="quiglythegreat"]that dude seriously needs to raise interest rates some time this century. it's going to lead to serious problems. he should've done it before, and now he's using th edepression as an excuse to keep them low. it's bad economics.quiglythegreat

[QUOTE="quiglythegreat"]that dude seriously needs to raise interest rates some time this century. it's going to lead to serious problems. he should've done it before, and now he's using th edepression as an excuse to keep them low. it's bad economics.-Sun_Tzu-

Good point, -Sun_Tzu-. I would like to see interest rates on personal accounts increase at some point, however. Back when inflation was rampant, you could get 8% on passbook savings at credit unions.

lol wow, Peter Schiff is laughing his ass off. For further explanation go to

http://www.youtube.com/watch?v=Q-yd-eZNf38