Bernanke - more stimulus needed

Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.

http://www.calculatedriskblog.com/

Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hurt Obama's re-election chances.

http://tpmdc.talkingpointsmemo.com/2011/08/legislating-by-crisis-a-chronicle-of-the-coming-hostage-dramas-on-capitol-hill.php

The Republicans are also prepared to raise taxes in order to keep money out of the economy, and are conditioning any disaster aid to other budget cuts - the goal being to avoid injecting any money whatsoever into the economy.

http://tpmdc.talkingpointsmemo.com/2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb

I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....

Originally posted by Kunsoo
Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.

http://www.calculatedriskblog.com/

Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hu ...[text shortened]... /2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb

Originally posted by Kunsoo
Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.

http://www.calculatedriskblog.com/

Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hu /2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb

Originally posted by Kunsoo
Basically, he said the big problems with the economy are Euro-debt and political gamesmanship with regard to the debt ceiling.

http://www.calculatedriskblog.com/

Unfortunately, Mitch McConnell's response was to confirm that the Republicans will continue to hold the US credit rating hostage in order to ensure the economy stays depressed long enough to hu /2011/08/bernanke-slams-congress-for-harming-economy-with-debt-limit-brinksmanship.php?ref=fpb

Originally posted by Hugh Glass
I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....

They find themselves behind a rock and a hard spot now.. I still can't believe the Liberals blame the Tea party for the debt ceiling crisis and our credit downgrade? hell if they had done more to control spending the credit rating would still be AAA.
But all they want to do is spend and tax, it's ingrained in their minds, tax the rich, well the figures show taxing the rich is not going to be enough.....
What they really need to do, is find a way to bring the consumer confidence level back up...... the people are sitting on every dime they have right now... watching the governments next move. This will be a long one I am afraid...

Originally posted by Hugh Glass
I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....

Originally posted by Hugh Glass
They find themselves behind a rock and a hard spot now.. I still can't believe the Liberals blame the Tea party for the debt ceiling crisis and our credit downgrade? hell if they had done more to control spending the credit rating would still be AAA.
But all they want to do is spend and tax, it's ingrained in their minds, tax the rich, well the figures s ...[text shortened]... y have right now... watching the governments next move. This will be a long one I am afraid...

Originally posted by normbenign
The problem is that there are two forms of taxation, and it is only popular and tolerable to advocate taxing the rich more. That is not anywhere near enough to satisfy the appetites for spending, so the other taxing method is utilized, that of inflating the money supply.

This works only because most of the poor and middle class who are hit with it dir ...[text shortened]... ime, so that the marks remain in the dark.

What the Fed does is tantamount to counterfieting.

Originally posted by Hugh Glass
They find themselves behind a rock and a hard spot now.. I still can't believe the Liberals blame the Tea party for the debt ceiling crisis and our credit downgrade? hell if they had done more to control spending the credit rating would still be AAA.
But all they want to do is spend and tax, it's ingrained in their minds, tax the rich, well the figures s ...[text shortened]... y have right now... watching the governments next move. This will be a long one I am afraid...

Originally posted by Hugh Glass
I hope Bernanke spread some of his dollars around in my state..... but then again, maybe he should have gone to California, where they really need something of a jump start....

Originally posted by normbenign
Do you think that Bernanke would ever be honest enough to concede that the entire debt crisis is on the FED? Yes, we inflated the money supply, created a bubble, which burst. Sure that's really likely.

Originally posted by badmoon
Not far enough, many of us were active participants in creating that bubble. We got greedy and lived on borrowed time and money. The economy has to shrink before it can grow again.

Originally posted by AThousandYoung
CA is doing fine.