Re: Why Bernake is smirking.
- From: "Alvin E. Toda" <aet@xxxxxxxx>
- Date: Sat, 15 Dec 2007 23:35:38 -1000
On Sat, 15 Dec 2007, phil scott wrote:
Bernake smirks...worth listening to despite the echo.
http://uk.youtube.com/watch?v=yAwvlDJgJbM
I noticed Bernake's facial expressions under the beard... he smiled faintly when Dr Paul mentioned that the funny money situation had been going on 10 years before he (bernake) got there... then later bernake went into an undiquisable smirk as Dr. Paul began to get very explicit about the devaluation of the dollar robbing savers blind.... Im sure the rest of congress sees it too.
Bernake would be smirking for two reasons.... first, there is nothing he can do given congress/ and presidential requests to float the boat as long as possible...and two, he knew this going in. and so did Greenspan, and those interests who profit so handsomely during wars and financial collapse (title to stock and property reverts to the prime banks when all others default... the story of 1929)... just prior to 1929 the newly founded FED flooded the nation with money, creating the bubble that ended in the crash).
If Bernake fails to flood the market with funny money, and stops doing that as the FED did in 1928-29.. we will see the nastiest world wide crash yet. He knows that. Beyond his direct control are the causes of national insolvency, which are:
1. we have offshorred much of our industrial production base. 2. we have offshored many of our best jobs. 3. we have allowed our borders to be over run with illegals who cost hundreds of billions in services we cant afford. 4. we have 70%+ govt bloat. 5. many civil servants are retiring at age 51 with $100,000 to $150,000/hr !! (police, fire, prision guards etc)...Half of some county budgets. 6. we have bogus/ unfair trading laws.
Bernake cant do a damn thing about any of that....so he smirks.
http://fskrealityguide.blogspot.com/2007/12/real-gdp-growth-has-been-negligible.html
Phil Scott
I guess it's hard not to smirk when you hear someone who is completely ignorant about what he's talking. Bernake knows what he is doing and why...
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- Why Bernake is smirking.
- From: phil scott
- Why Bernake is smirking.
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