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ParticipantThe FED has made their moves counting on the consumer *feeling good* enough to keep spending money they don’t have.
The problem is the consumers realized they ran out of money before the FED did. Due to massive inflation, thanks to BB, prices across the board are what, 10% higher than 1 year ago? And that’s not just core inflation anymore.
Think about how much more turnover there is today in consumer “durables” than there was 20 years ago. Our economy is now dependent on people leasing new cars every 2-1/2 years, buying new TVs every 3, and new cell phones and iPods (non-existant 20 years ago) every other year.
Ignorantly, Bernanke thinks it’s a problem of bank liquidity. The real problem is the consumer liquidity.
ParticipantThe FED has made their moves counting on the consumer *feeling good* enough to keep spending money they don’t have.
The problem is the consumers realized they ran out of money before the FED did. Due to massive inflation, thanks to BB, prices across the board are what, 10% higher than 1 year ago? And that’s not just core inflation anymore.
Think about how much more turnover there is today in consumer “durables” than there was 20 years ago. Our economy is now dependent on people leasing new cars every 2-1/2 years, buying new TVs every 3, and new cell phones and iPods (non-existant 20 years ago) every other year.
Ignorantly, Bernanke thinks it’s a problem of bank liquidity. The real problem is the consumer liquidity.
ParticipantThe FED has made their moves counting on the consumer *feeling good* enough to keep spending money they don’t have.
The problem is the consumers realized they ran out of money before the FED did. Due to massive inflation, thanks to BB, prices across the board are what, 10% higher than 1 year ago? And that’s not just core inflation anymore.
Think about how much more turnover there is today in consumer “durables” than there was 20 years ago. Our economy is now dependent on people leasing new cars every 2-1/2 years, buying new TVs every 3, and new cell phones and iPods (non-existant 20 years ago) every other year.
Ignorantly, Bernanke thinks it’s a problem of bank liquidity. The real problem is the consumer liquidity.
ParticipantThe FED has made their moves counting on the consumer *feeling good* enough to keep spending money they don’t have.
The problem is the consumers realized they ran out of money before the FED did. Due to massive inflation, thanks to BB, prices across the board are what, 10% higher than 1 year ago? And that’s not just core inflation anymore.
Think about how much more turnover there is today in consumer “durables” than there was 20 years ago. Our economy is now dependent on people leasing new cars every 2-1/2 years, buying new TVs every 3, and new cell phones and iPods (non-existant 20 years ago) every other year.
Ignorantly, Bernanke thinks it’s a problem of bank liquidity. The real problem is the consumer liquidity.
ParticipantPhew….. I feel better. What a cute couple.
“Bush, Fed Chief See No Recession Ahead”
http://biz.yahoo.com/ap/080228/bush_bernanke.html
“I don’t think we’re headed to a recession, but no question we’re in a slowdown,” Bush said.
Maybe Bush thought they mean recess.
“I realize that my testimony wasn’t the most cheerful thing you’ll hear today … but I do very much believe that the U.S. economy will return to a strong growth path with price stability,” Bernanke told the Senate Banking… right before he promised to slash rates furthe just to spite RP for making a fool out of him.
“I don’t anticipate stagflation,” he told lawmakers. “I don’t think we’re anywhere near the situation that prevailed in the 1970s.” Bernanke said he expects inflation to calm down… as he loads the printing presses up for another all nighter.
(…comments added.:)
ParticipantPhew….. I feel better. What a cute couple.
“Bush, Fed Chief See No Recession Ahead”
http://biz.yahoo.com/ap/080228/bush_bernanke.html
“I don’t think we’re headed to a recession, but no question we’re in a slowdown,” Bush said.
Maybe Bush thought they mean recess.
“I realize that my testimony wasn’t the most cheerful thing you’ll hear today … but I do very much believe that the U.S. economy will return to a strong growth path with price stability,” Bernanke told the Senate Banking… right before he promised to slash rates furthe just to spite RP for making a fool out of him.
“I don’t anticipate stagflation,” he told lawmakers. “I don’t think we’re anywhere near the situation that prevailed in the 1970s.” Bernanke said he expects inflation to calm down… as he loads the printing presses up for another all nighter.
(…comments added.:)
ParticipantPhew….. I feel better. What a cute couple.
“Bush, Fed Chief See No Recession Ahead”
http://biz.yahoo.com/ap/080228/bush_bernanke.html
“I don’t think we’re headed to a recession, but no question we’re in a slowdown,” Bush said.
Maybe Bush thought they mean recess.
“I realize that my testimony wasn’t the most cheerful thing you’ll hear today … but I do very much believe that the U.S. economy will return to a strong growth path with price stability,” Bernanke told the Senate Banking… right before he promised to slash rates furthe just to spite RP for making a fool out of him.
“I don’t anticipate stagflation,” he told lawmakers. “I don’t think we’re anywhere near the situation that prevailed in the 1970s.” Bernanke said he expects inflation to calm down… as he loads the printing presses up for another all nighter.
(…comments added.:)
ParticipantPhew….. I feel better. What a cute couple.
“Bush, Fed Chief See No Recession Ahead”
http://biz.yahoo.com/ap/080228/bush_bernanke.html
“I don’t think we’re headed to a recession, but no question we’re in a slowdown,” Bush said.
Maybe Bush thought they mean recess.
“I realize that my testimony wasn’t the most cheerful thing you’ll hear today … but I do very much believe that the U.S. economy will return to a strong growth path with price stability,” Bernanke told the Senate Banking… right before he promised to slash rates furthe just to spite RP for making a fool out of him.
“I don’t anticipate stagflation,” he told lawmakers. “I don’t think we’re anywhere near the situation that prevailed in the 1970s.” Bernanke said he expects inflation to calm down… as he loads the printing presses up for another all nighter.
(…comments added.:)
ParticipantPhew….. I feel better. What a cute couple.
“Bush, Fed Chief See No Recession Ahead”
http://biz.yahoo.com/ap/080228/bush_bernanke.html
“I don’t think we’re headed to a recession, but no question we’re in a slowdown,” Bush said.
Maybe Bush thought they mean recess.
“I realize that my testimony wasn’t the most cheerful thing you’ll hear today … but I do very much believe that the U.S. economy will return to a strong growth path with price stability,” Bernanke told the Senate Banking… right before he promised to slash rates furthe just to spite RP for making a fool out of him.
“I don’t anticipate stagflation,” he told lawmakers. “I don’t think we’re anywhere near the situation that prevailed in the 1970s.” Bernanke said he expects inflation to calm down… as he loads the printing presses up for another all nighter.
(…comments added.:)
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