January 17, 2008

HousingPANIC urges Congress to send every American a million dollars in cash - and Ben Bernanke would likely think this was "reasonable"



I can't believe what I'm hearing today during Helicopter Ben's Senate hearing. After they send the checks out they should also pave the streets with gold, buy everyone a round at the bar, and of course, give everyone "free" healthcare.

We're $52 trillion in the hole, the dollar is tanking, inflation is roaring, and Helicopter Ben is telling our corrupt idiots in the Senate that they should be pushing out checks to Americans. Unreal.

This is sick. Seriously, it is sick. Ben Bernanke is a traitor, he is an idiot, and this needs to stop. Now. And any congressman who votes for checks to be sent out to Americans in an election year should be thrown out of office in November for corruption, recklessness and incompetence. And then they should all be arrested.

History will not be kind. And the US dollar is toast.

(thanks malcolm for the photoshop - love it!)

58 comments:

wolfie_cr said...

well, as you heard one senator saying "he should be commended for his actions in August"

I could hear you laughing all the way from Central America LOL

Anonymous said...

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dude slow down you're gonna hurt yourself. look the govt is going to spend money one way or another. if one of the alternatives to the spending is sending me a check, fine.

better that than building another one of these with tax money

http://www.foxnews.com/story/
0,2933,303376,00.html

Anonymous said...

its crazy isn't it? what can anyone say? it is incredible that this is happening.

Anonymous said...

he did say short term stimulus, and that the long term effects, i.e. increased deficits, need to be considered.

Anonymous said...

Ben means --> "Short term" = Till I get the f out of town

street guy said...

Whoaa Nelly! If the S&P closes below 1340 today it will kick in some massive automated trades. Paulson's PPT will try like hell to keep that from happening, but if it does, watch for a 100 bp cut from the Fed tomorrow.

USD index is going to 70 by mid February.

westwest888 said...

Where is Ron Paul on the hill today? I wanted to see him take front and center. They can't shut him out when Bernanke is in the same frame!

MassBubbleGirl said...

I was watching live feed on CNBC of the hearings and I was surprised to notice that Ben B. had a shaky voice sometimes and that his eyes looked really sad and tired...I guess this is all weighing on him and quite frankly he looked scared...Holy crap!...this might be worse than I even thought and I've been a bubblehead for years now...

borkafatty said...

How about the Congress women Dolt that thought she was talking to Paulson....what a disgrace and an embarrassment.

Tony Soprano said...

I get a check from the feds, I'm buying another Glock 22 and more ammo. Seriously......

Ivan said...

Everything is going as it should.
Ben is digging a grave for himself.
The worse things get - the better.
Americans need to feel the pain in order to wise up.
Once half of Americans will want to see Ben hanging – his job is done.
Majority of Americans has to realize that Fed is there enemy and must be destroyed and Ben will give them that lesson.
So, take the best seats grab a scotch and relax.

JoseMananito said...

I want my govermento check NOW!!!
Gringos, is this great country or what?
Viva los Estados Unidos y los Anglos maricones.
Muchas Gracias, suckaristas!

Anonymous said...

The developer of the $3 billion Cosmopolitan Resort & Casino says its lender, Deutsche Bank, filed a notice of foreclosure on the property for a construction loan of $760 million that just matured.

Developer and owner Ian Bruce Eichner says in a statement that his company is working with Deutsche Bank and Merrill Lynch to find new investors.

Eichner tells The Associated Press in the statement that, "This action by our lender comes as no surprise."

He blames challenges in the real estate and capital markets for difficulty in raising capital for the project, which is now under construction.

The 3,000-room high-rise casino and hotel is due to open in late 2009 between the Bellagio casino resort and the CityCenter casino complex on the Las Vegas Strip.

micahel said...

look for a "temporary" suspension of retirement early withdrawal penalties.

coming soon!!!!

keith said...

We are run by monkeys. Many of the people in Congress should be taking my McDonald's order. Idiots, but that's what America votes for, that's what they get.

Wall Street Chuckles Over Kaptur/Bernanke "Confusion"


Uh, no, you must mean the other bald guy who's always around: desk traders on the Street are cracking up over this faux-pas by Congresswoman Marcy Kaptur during an exchange with Fed Chairman Ben Bernanke:

Marcy Kaptur, D Ohio :Seeing how you were the former CEO of Goldman Sachs ….

Bernanke: No.. no..no..You are confusing me with the Treasury Secretary!

Kaptur: I got the wrong firm? Oh, uh, where were you sir?

Bernanke: I was the CEO of the Princeton economics department.

Kaptur: Oh, I'm sorry, I got you confused with the other one. I'm sorry. I'm glad you clarified that for the record.

http://www.cnbc.com/id/22708868

Mark in San Diego said...

Can I get my check in Mexican Pesos??? ANYTHING but Dollars!!! . . .Ben is basically saying that we are totally screwed, he is in panic mode, and the economy is actually headed for a 1929 depression. . . the market is telling us that.. . not 1000 points a day, but an orderly line for the exit.

Anonymous said...

I get a check from the feds, I'm buying another Glock 22 and more ammo. Seriously......

Funny you've mentioned that because, according to a research, the top 3 items bought with the first checks issued by Bush in 2001 were:

1. Beef
2. Barbecue
3. Guns

True stats, no joke. As you can see, this country is doomed.

Anonymous said...

Hey HP'ers the weekly jobless claims data came out today and there was a drop of 21,000 claims and thus the labor market isn't that bad. Also, this is the third straight week of the drop in unemployment claims. Oh yeah, the economy is tanking HP'ers. LOL, LOL, LOL, LOL, LOL.

bobbyg said...

Our country is a total joke and so is the american public for electing officials who don't bother to learn the difference between the Treasury Security and the Chairman of the FED.

I work at an insurance firm in the Wall Street area and what astonishes me is the total lack of concern by Wall Street employees. I am privy to the loud and boisterous conversations of my fellow commuters and they act as if the punch bowl is still full of 30 year old malt whiskey. There is no shame, depression and sense of culpability. My sense is that people are cynical and most people's view is: "grab what you can and who cares who gets screwed along the way. I want what's mine. Anyone who does not believe the same thing is a loser and a failure and will never become rich."

Fine, we reap what we sow. We need a depression to return this country to a sense of shared purpose. Unfettered laissez faire captilalism will also result in this type of moral hazard.

Anonymous said...

Send the checks with a citizenship inside the envelope to 30 million illiterate illegals. Meanwhile, the Arabs and the Chinese, your masters, are laughing all the way to the bank (literally). Spin that hamster wheel faster because the GOP is not done with your wallet yet. You voted for TWICE, so enjoy.

Anonymous said...

Nice how Ben is selling gold like crazy today to pump the market up.

It's all rigged!

Anonymous said...

Well, 2 PM approaching, so time for the PPT to make the market positive by selling gold.

fiscalconservative said...

"michael said...

look for a 'temporary' suspension of retirement early withdrawal penalties.

coming soon!!!!
"

I think you're right about this one. My senator, Norm Coleman, has been telling people to keep their mortgages current with their 401k funds!

Supposedly, those funds have to be paid back within 5 years; Where in the heck are broke blokes going to suddenly get those funds? HaHaHa!

In the past, I called my senator about trying to "end the death tax" in order to "save family farms;" of course, those farms were killed off years ago; his staff knew that.

Andy in San Diego said...

Instead of a check they should send out a pamphlet on how to live with less. Of course, since their goal is to keep people spending money so they can keep skimming off the top, that wouldn't really be in their best interest.

Anonymous said...

Does anyone know what the $ amount are the checks to be issued?

And is the point of this, that the people who need the cash will run out and buy something, falsely inflating the economy for a month or two?

Anonymous said...

Dow 10,000 coming to a screen near you soon.

DaveO said...

Former chairman Paul Volcker's commentary himself regarding current Fed

Illegals Everywhere said...

Absolutely Correct Keith! Congress proves that Monkeys are running the show. Smart people will buys guns ammo and hard times preps however most of the morons will buy illegal drugs and booze.

How are these few hundred dollar checks supposed to stimulate an economy that cant sell houses cars durables etc?

Anonymous said...

Anyone who thinks Bernanke is stupid, and this is all happening by accident, raise your hand.

Wow, that's a lot of hands!

Everyone who didn't raise your hand, notice the complete morons who did...

Anonymous said...

Anonymous MassBubbleGirl said...

I was watching live feed on CNBC of the hearings and I was surprised to notice that Ben B. had a shaky voice sometimes and that his eyes looked really sad and tired...I guess this is all weighing on him and quite frankly he looked scared...Holy crap!...this might be worse than I even thought and I've been a bubblehead for years now...

January 17, 2008 5:50 PM<<<

his voice betrays what he really thinks. he knows he is lying. pretty sad really. how can anyone sit there and just plain out lie and then go back to the office and think that somehow what you are doing is somehow legit. what planet do people like this come from? how can they exist? how can they sleep at night? God only knows. However, this is what kind of men we have in power now in america. does one person here, think that somehow a bunch of talking is going to solve this problem? the time for talking is over my friends. in this country we have a revolutionary tradition, whether we like it or not. the founding fathers saw it unfold and supported it then. we must see it again or continue sleeping and stick our heads back in the sand and pretend that the danger is not really there. they will not help us now. they never will help us. we must help ourselves. when the government refuses to listen to the voices of the people it becomes expendable. john kennedy said, “Today, we need a nation of Minutemen, citizens who are not only prepared to take arms, but citizens who regard
the preservation of freedom as the basic purpose of their daily life and who are willing to consciously work
and sacrifice for that freedom.”

JoseMananito said...

Fantastico to see the marketa going down, down, down..I hopa lotsa Gringos loosa all their dinero, have to sell house and usa their putas to survive and then the gobermento sends me a grande cheque.
Viva el Presidente Busho for helping me come to this country and feeding me and my big familia.

Andrew Hac said...

Man, Dude, this is the hay day for Senior Joe6Pack and Senora JaneZinfandel along their horde of heathen kids. First the fookers defaulted on the home loan after extracting all the equity out of the crab shack that they had by the river, went on unemployment for 9 months, getting social service and medicare free from tax payers and now just before "Armageddon" starts knocking on the door, they are going to get a $1M check for spending in whatsoever craps up to their fancy so that the Americano economy can be revived.

Arrrrr, is this country great or what ?

ukhousingbubble said...

Bernanke has obviously lost it, but he doesn't have a monopoly on bad ideas.

Check this one out from the UK:

Lets not pay our debts.

The UK government thinks its a good idea if people get a one year holiday on interest payments.

Alice

UK housing bubble

Anonymous said...

Oh shit! The deck of cards is coming down. I'd hate to be heavily invested in US stocks right now! Whoooohoooo!!

Anonymous said...

Bush and Ben don't think we can handle the truth.

Anonymous said...

Hey Keith, is it time for us HP'ers do our I told You So Dance yet?

Nah...it's still too early. Let's wait for the riots with millions of illegals looting businesses.

Anonymous said...

Hey HP'ers the weekly jobless claims data came out today and there was a drop of 21,000 claims and thus the labor market isn't that bad.

Sure, buddy. We HP'ers agree and we think that you should invest on financial stocks and real estate right now. Lease a BMW while you're at it, what the heck...you deserve it for being sooo smart.

Anonymous said...

I was discussing today this financial mess with my boss (who was minister of finance) and he asked my what was my opinion on the causes of such mess. "Too much money around" i told him. He replied "too much money in the wrong hands and in the wrong places"....

GT said...

keith
IDEA:
let's get all the $250 or $600 or whatever we're (all of us on the bubble blogs) given by uncle bernanke, and put them together to build/buy a white collar prison full of mortgage fraudsters and realtors. bernanke or greenspan will get the rooms with no windows though. the prison could probably be a gated community in phoenix,

edd said...

It's time for austerity; restraint.
For the kids, pave the streets
with brass (with minimum copper).

Use the savings to salvage the
Cosmo casino.

70 mpg said...

I burn $600 worth of gas each month.

The $600 rebate check will help me pay for the extra $2,800 I have all ready spent on double + gas prices.

Maybe I could use the money to buy a moped (that was made in China) for $600.

Anonymous said...

70 mpg said...

I burn $600 worth of gas each month.

----

I don't know if I spend $600 a year on gas. I live 2 miles from work. Here's a tip: move or get a new job closer to home. You are wasting money and even worse sending $600 a month to Saudi Arabia.

Bitterrenter said...

The only people able to do the I Told You dance are the liberals who advised against adopting conservative fiscal policies 30 years ago. Even under Clinton that is what we pursued.

So eat it America. Hope you fucking starve.

Anonymous said...

Bitter renter nice to see you and your idiocy back. I've missed ya buddy.

Were you off on a vacation in the workers paradise of Cuba or N. Korea?

NoHouseNoCarNoDebtJustGoldAndCash said...

I just looked up a couple of interesting facts:

In the year after the last Bush Oct 2001 rebate check, the stock market (S&P 500) dropped another 26%.

Also, in that year the unemployment rate went from 4.7% to 5.8% and then 6.0% the following year. That's 1.5 million jobs.

The stock market didn't exceed rebate-day levels until two years later, Oct 2003. Unemployment didn't recover to 2001 levels until 2006.

Enjoy those checks!

Anonymous said...

Fascists! A nationalized printing machine creates “currency” and spreads it to the people.

LauraVella said...

This is getting crazy. We need manufacturing jobs, not checks in the mail!

Does government thinks this whole disaster will just turn around if consumers shop more??

Why doesnt bush throw some high tarrifs onto imports? And give companies some incentive to bring production back? Its going to lower our standard of living, but its going to be lowered anyway.

We're on the way to being a service economy, or turning into France as my husband would say.

Anonymous said...

What else are they going to do? I mean really, they have no choice but to hand out a bit of crack cash. Its called being late to the game and not having a choice.

Anonymous said...

I WANT MY BREAD!
I WANT MY CIRCUSES!

Same crap different millenium.

History repeats because people don't change.

We are all just basically a bunch of hairless chimps.

Anonymous said...

Strategically, America has a slam dunk in inflating out of debt. The only thing the elites are balking at is how many crumbs do they deign to give the peasants.

Giving every American a million in cash might actually restart a free market.

HOUSE2008 said...

Help me out here. Kinda wondering if there's the POSSABILITY that the Fed's are going about this monetary policy on purpose for the sole reason to do a Bush II eqivalant post 9/11. More power. I say this with sound reason. The people working there at the Feds are in the 1% intellectually and brilliant. Also, with software that would rival or better any casino/toy company/defense dept. Those computers they have are VERY good at "projections". I know their models show exactly what happening.

There's an agenda. Just can't put my finger on it. The RIGHT thing to do as Forbes, Peter Schiff and a host of other people have been saying is to STOP destroying the $ & RAISE interest rates. Interest rate cuts help wall street. But even that is becoming negligable. Oh well. Just don't have enough info. Doesn't. Make. Sense.

Brian said...

I dunno Keith-

I'm just not on the Bernanke-hating bandwagon yet.

I've read some of his stuff, and I think he volunteered for a thankless post atan awful time. I mean really - do you expect him to shut down the fed?

I think he is a far better man than greenspan was.

You should read some of his writings.

And check this out:
http://tinyurl.com/3223w9

I ask you this: Would YOU take the job right now?

Brian

Anonymous said...

Actually, sending everyone a taxable 1,000,000 in cash coupled with a significant increase in interest rates might be just what the doctor ordered.

It would wipe out current debt, and be followed by a deflationary recession. It's what we're heading for anyway -- except without the getting rid of debt part.

Anonymous said...

"Absolutely Correct Keith! Congress proves that Monkeys are running the show. Smart people will buys guns ammo and hard times preps however most of the morons will buy illegal drugs and booze."

Wait a second -- there's nothing wrong with buying both booze and guns. It's called the ATF for a reason.

Alcohol and firearms go together like a sock and a shoe.

Anonymous said...

I'd even buy a condo if they did that!

Anonymous said...

if i was not having this financial nervous breakdown, that picture would have been even funnier

Anonymous said...

buy a large fermenting and distilling tank and turn your sewer waters into methanol gasoline as your manufacturing job.....

Anonymous said...


Anonymous said...
buy a large fermenting and distilling tank and turn your sewer waters into methanol gasoline as your manufacturing job.....

January 18, 2008 5:40 PM

Hell turn it into ethanol for some real big bucks.