Bernanke Lies. Lies. Lies. Lies.

[babylonsister]

http://www.smirkingchimp.com/thread/6430

Bernanke Lies. Lies. Lies. Lies.
by Stirling Newberry | Mar 29 2007

Ben Bernanke is a conservative inflationist. As George Will said about another bundle of contradictions, both the noun and the adjective are correct. We are used to seeing liberal inflationists, that we forget that conservative inflationists are historically normal for monarchies, and are species against which the original "liberals" as we now think of people like Hume and Smith, railed against their excesses.

And now we know something else about Ben Bernanke.

He lies. Lies. Lies. Lies, all Lies. We should have known this, Ben Bernanke the economist has Ben Bernanke the central banker pegged - a lying cheating discretion abusing political hack willing to risk inflation for short term political gain. That is the picture that Bernanke painted of central bankers as an economist, is it any wonder that is how he behaves? Half of the conservatives in the world - from Foley and Falwell, through Tammy Faye Baker and a good chunk of any hierarchical society want rules to save them from themselves.



Greenspan obfusticated, I was known for doing a pretty good Greenspeek both in person and in print. It wasn't hard once you knew which indicators he followed and how he qualified things. After that it was a matter of giving a very nuanced discussion of why he was going to to exact thus and such. Greenspan warned you when he was going to drop a safe on your head. He was called the Maestro, because most investors are subs who just need to be told what to do. Greenspan, for example told people to get out of interest rate sensitive investments when he started his slow campaign of raising interest rates. You know, like housing. Giving investors a nearly 2 year lead on the oncoming train is more than fair. An early investing rule I learned was "Don't fight the Fed".

Well Bernanke is adding another. Don't trust the Fed. It's all lies. Lies. Lies. Lies.

"Overall, the economy appears likely to continue to expand at a moderate pace over the coming quarters. As the inventory of unsold new homes is worked off, the drag from residential investment should wane. Consumer spending appears solid, and business investment seems likely to post moderate gains," he said.

"At this juncture, the impact on the broader economy and financial markets of the problems in the sub-prime market seems likely to be contained."

Simply put, this isn't true, even from Bernanke's point of view. I now understand why academics didn't get Bernanke. In academentia people very seldom actually lie. However, they often say things which must be parsed carefully, compartmentalized, and checked for the subsidiary meaning of the exact definition of the words. For example, if the head of a department says "I am not sleeping with that student" - it means they are getting on in the office and the student leaves to sleep in his or her own bed. Bill Clinton was the master of parslish in the political arena. However the above quotes aren't correct from the data that is floating across Bernanke's desk as this morning's sluggish GDP release - which I am sure he had in hand when he made the remarks shows. There are signs of contagion in the housing market all over the place.

more...

[ORDagnabbit]

1. the fed is a joke... go watch this

www.freedomtofascism.com

[Double T]

2. Ben Bernanke continues to sugarcoat the 'bad news' and mask.........

the realities of the current economy. Where are the REAL economists?

[Zynx]

3. Fed Chair is always going to talk up the economy.

If one of them ever said how bad a coming problem was just flat out, you would not believe the market shock it would cause.

These guys aren't stupid. They know when there's something wrong.

[reprobate]

5. He has to. The Fed's owners expect it. They MUST show a profit each quarter.

There was a time when I was an innocent. So much that I thought the Fed was a part of our government! Can you imagine a grown up adult American with such a tender mind?

Then I was disabused of my innocence. I learned that the Fed was not a part of my government and my government had no control over it. It IS owned by a private cabal of people who own a dozen or so American and international banks.....anyone mention Chase?

So, in fact there are maybe a couple of hundred families who are and stay VERY rich,,,,,I mean beyond rich.....filthy dirty control the world rich, on the backs of every citizen in the United States of America. And don't think our government doesn't realize how bad it is. Several times over the years our congress has tried to change this, but each time it was defeated and each time the sponsors of the bills were defeated in the next election.

Google for yourself the portion of the MSM that are owned by those particular banks. Then you'll know how they control the nation and the world.

Folks, the power doesn't lie with the corporations. The power lies with the banks. Particularly the banks that own the Fed.

I don't think anything will change under the current system. Not until there's a Second American Revolution.

I'll meet you at the barricades.

[Rydz777]

4. Helicopter Ben

Bernanke has said that to avoid recession he would fly around throwing money out of a helicopter. Since we sit under three mountains of debt, this means inflation will be the chosen cure, and Ben will have to fly his helcopter - while we watch the value of the dollar sink and sink and sink.

[bananarepublican]

6. Who owns 'the Fed'? The answer will surprise you!

Lincoln and Kennedy were amongst those who fought against the establishment/continuance of 'the Fed'.

[tom_paine]

7. Of course Bernanke lies: He's a Loyal Bushie and it's part of the job description

n/t