Ben Bernanke hates you.
I mean he really, really hates you.
And to make matters worse, your incompetent, ignorant and corrupt political leaders are failing you.
You're on your own.
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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32 comments:
I don't think he hates us. He needs to help his banker buddies and the middle and lower classes are the collateral damage.
Listening to the video.
Only a smaller government that lives within its means will save us. Tax cuts are good. Do things for yourself – do not rely on government.
Yep - I am sure Obama's going to give this to us...
Right after he nationalizes health care, nationalizes the energy industry and imposes price controls...
And to make matters worse, your incompetent, ignorant and corrupt political leaders are failing you.
You're on your own.
This has always been true, I'm used to it.
Home sales post unexpected April increase!!!!!
http://news.yahoo.com/s/ap/20080527/ap_on_bi_go_ec_fi/home_sales
SOME CRASH!!!!!
.
.
.
.
DOPES!
When the median wage in the USA crosses $50k, remind me to shred my USD holdings. This will deflate the M1 money supply by 0.000001%.
The news moderator is a totally insensitive schmuck to what's going on out there now.
I was down at the Santa Monica Prominade the other weekend - many more homeless people - this is just one tiny example of what's now happening.
As long as someone feels safe in a bubble, there is no problem as far as they are concerned.
Shit, Keith, you just figured it out that the guvmint is NOT here to help you?
I thought you were quicker on the uptake than that.....
I have been packing money away, living below our means and adding extra payments to the house and property that we will retire at. We have renters in there now and they are paying it off for us, I figure any extra will just allow us to live there with out a bank payment. There will still be taxes and insurance, but that will be small change. Hope everyone else is setting them self up for stagflation. You really don't need all that crap the TV and friends tell you to have. Live simple and happy. Best of luck.
First time I have seen this Beck guy and didn't turn him off and mutter what a jerk!
Bernanke is just delaying the inevitable. The fed rate will have to rise to over 10% at some point in the near future.
Isn't the debate ongoing? Weren't we just arguing about inflation vs deflation in a thread last week?!! And half the writers described the current economic state as being deflationary or neutral.
The evidence of inflation is overwhelming. I find it amazing how many people would argue otherwise. And yes, my, yours, and our nation's purchasing power is getting pummeled and we should be rioting on the steps of all Fed offices.
Obama hates you even more.
I think people are still getting confused about inflation. The confusion has been going on for a long time.
Rising prices are not necessarily inflation. Inflation is an increase in the money supply or credit.
Credit is clearly contracting as banks are getting hammered by bad loans. I haven't seen one iota of evidence that the money supply is expanding.
The fact that oil prices are up significantly doesn't mean that inflation is high. There are a lot of factors that could have caused the high prices. Speculation, high demand, low supply, etc. It appears that the high fuel prices are translating over into food costs because fuel is an input to the price of food.
The fed is lowering rates to prevent DEFLATION. They are trying to stimulate credit by making it cheaper and easier to come by. It won't work. In fact it already hasn't worked, credit is getting harder to come by in many forms, not just mortgages.
I don't agree with what the Fed is doing, but they have no control over the speculation in oil markets, or the other factors that appear to be causing the rise.
Ya Keith, Bernanke has nothing better to do that hate you. Geez dude get a grip.
Blah, blah, blah...
What really scares the hell out of me is
Queer Republicans.
Gerry Swanson is also the author of The Hyperinflation Survival Guide and co-authored Bankruptcy 1995, which may have been guilty of being 13 years early but maybe pretty accurate after all.
LOL - "Asking Washington to fix this is like asking Britney Spears to come over and babysit our kids."
Anon 3:48,
If you looked right next to that headline, you'd have seen the one about *prices* falling year over year at their fastest rate in decades.
Conclusion? Buyers finally agreeing to lower their *prices*, bringing the number of *sales* up. Econ 101 strikes again.
and our nation's purchasing power is getting pummeled and we should be rioting on the steps of all Fed offices.
Sorry, the the cult of retards is too busy right now, chanting "si se puede".
GLEN BECK!!
I don't get you, buddy! You claim to be a Republican and are incensed at what is happening, yet your boys at the helm are the ones responsible for a complete lack of regulation and putting the fox in charge of every financial hen house in this country, literally bringing us to the brink of INSOLVENCY!!
How do you sleep at night when you know your party is responsible for doing more grave damage to this country than any other administration IN WORLD HISTORY??
Fine to be pissed off, but you should have been there YEARS AGO!!
You should be screaming from the rooftops!!
Case Schiller says that housing values fell by 2.2% in March! That's a 26.4% annualized price drop.
The value of housing in America is about $20 trillion. That means we're losing $440 BILLION a month in housing wealth
Can the price increases were seeing in food and energy possibly fill that gap?
Oil prices have risen from $80/barrel to $135/barrel in the past 6 months. We consume 20 million barrels of oil a day. That means we are spending $1 BILLION a day more on oil than we did last year. That's only $30 Billion a month. A drop in the ocean compared to that massive equity drop.
Deflation, Deflation, Deflation!
Jymkata
Re; GLEN BECK!!
I don't get you, buddy! You claim to be a Republican and are incensed at what is happening, yet your boys at the helm are the ones responsible for a complete lack of regulation and putting the fox in charge of every financial hen house in this country, literally bringing us to the brink of INSOLVENCY!!
Glenn Beck is nothing more then another overpaid media whore and of course he makes enough income to benefit from republican policies
Re; Ya Keith, Bernanke has nothing better to do that hate you. Geez dude get a grip.
I agree seriously Keith your oversensitivity to the issues are making you sound like Olberman. Maybe find another boardsport since the snow must not be that great this time of year.... how about surfing south france maybe try mountain biking the alps, kayaking the rhine...or what you really need Keith, our great HP leader is to go hang out in Amsterdam and visit some cannabis cafes try some nice flowers and explore the red light district find some girls behind glass, and post some of the picts here on HP for us. Just take a sabatical man
Ben knows that most of you are complete idiots when it comes to money. Your over investing in overly inflated real estate is proof that you are idiots. Now you are paying the price for your stupidity.
.
I do find it rather interesting that things have gotten worse since the Dems took over the House and Senate.
They said they would change things
Boy did they ever!
.
Actually I am not getting destroyed by inflation at all!
I was at the store picking up distilled water and I remarked the first gallon of distilled water I bought 20 years ago was $1, the same as the one I bought the other day. But now I make 6X as much.
Then we went to Best Buy to look around and I remarked how the $800 VCR I bought almost 30 years ago is nothing compared to a $100 DVD player today.
It balances out. But you need to buy more than gas and Twinkies to figure that out.
Regarding the government lying, you are some kind of a retard if you take anything anyone tells you at face value, government or not. This blog has spewed plenty of BS itself, and it always cracks me up when children come on here posting about their eternal gratitude for this blog's existence. They're grateful because they are lost sheep unless there is someone they can align with. Maybe an HP commune would go over big someday...except nobody could afford to buy in.
If there is no inflation then why is $1000 worth less today then it was 10 years, or even one year ago? Supposedly if there was no inflation that $1000 would be worth more because increased productivity, population, and wealth would have spread that same $1000 over more paychecks, trips to Dunkin Donuts, and houses. We would all be making less money, but everything else would be proportionally less expensive. That's not happening.
Also, the argument that decreasing house values counteracts increases in fuel prices doesn't take into account that all fuel is bought but only a fraction of homes are bought each year. And if housing does counteract current price increases, then why wasn't inflation as stated by the government much higher when home prices were skyrocketing?
"Home sales post unexpected April increase!!!!!
http://news.yahoo.com/s/ap/20080527/ap_on_bi_go_ec_fi/home_sales
SOME CRASH!!!!!
.
.
.
.
DOPES!"
Is that real or sarcasm? Nationally existing home sales volumes are down 20% from a year ago, and new home sales by 40%. Home prices are down 15%. You can look at the same figure from 20 angles and come up with 20 conclusions. I think by any standard though, new homes sales have already crashed.
And wow, an increase in April sales! That's it, this whole crazy mess is over.
anon 7:24 is dead on
My income today is approx $120K higher than it was 10 years ago. 10 years ago I paid $1.25 a gallon. Today I pay $3.75
I drive the same now as then. I spend $100 a week on gas. I used to spend $33. So gas costs me an extra $1716 a year.
Hmmm I make an extra $120K and spend an extra $1716 on gas. If that's the net result of inflation, I say keep that shit coming for another 10 years.
Ya Keith, Bernanke has nothing better to do that hate you. Geez dude get a grip.
==============
Seriously.
anon 7:24 is dead on
My income today is approx $120K higher than it was 10 years ago. 10 years ago I paid $1.25 a gallon. Today I pay $3.75
I drive the same now as then. I spend $100 a week on gas. I used to spend $33. So gas costs me an extra $1716 a year.
Hmmm I make an extra $120K and spend an extra $1716 on gas. If that's the net result of inflation, I say keep that shit coming for another 10 years.
Agreed 1,000%!!!!!!!!!!!!!!!!!!
Anyone who is whining about gas prices really needs to read my blog post about working hard vs. laziness and expecting free handouts:
http://tinyurl.com/3lbmdu
Anonymous said . . .
"GLEN BECK!!
"I don't get you, buddy! You claim to be a Republican and are incensed at what is happening, yet your boys at the helm are the ones responsible for a complete lack of regulation and putting the fox in charge of every financial hen house in this country, literally bringing us to the brink of INSOLVENCY!!"
---------------
Wrong. Glenn Beck ins't a Republican, and doesn't claim to be one. He's an independent conservative. He's a huge fan of Ron Paul's, and has been criticizing Bush & Co for years. Obviously, you don't listen to his radio program, and are just repeating what you've read or heard.
I disagree with him on a lot of issues, but he can be hilarious on radio (not so on the CNBC television program, because it's scripted).
He been talking about the housing bubble for years, too, and has opposed all bailouts of buyers and Wall Street (unlike Lou Dobbs, who frets over the allegedly poor victimized buyers). Not all conservatives think like Bush (who apparently has random thoughts, if any at all). Some actually buck the crowd.
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