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Discussion Starter · #1 · (Edited)
This guy is something. To stand up there in a press conference and flat out lie about core inflation.

Found this little gem on foxnews:

Fed officials said in a statement that they think the main causes of the economy's slowdown, such as high gas prices and supply disruptions from Japan's disasters, are temporary. Once those problems subside, Fed officials said the economy should rebound.

Read more: http://www.foxnews.com/politics/201...economic-outlook-for-rest-year/#ixzz1Q2CH4eFD


This is bogus. The fact that he didn't mention the elephant in the room- housing and manufacturing. Those two industries show no signs at all of recovery, so its best not to talk about those.

If anything, if Japan is the reason we are still not recovering, than that just goes to show how fragile the global economy is. I don't believe that Japan is the cause of our economy sinking like the titanic but I find it ridiculous that Bernanke thinks anyone is going to buy that kind of sh**.


What an idiot. I bet a magic 8 ball does better economic predictions than this guy.

Edit:
More from that article:

A spike in gasoline prices earlier this year made consumers and businesses more cautious about spending. Consumer spending drives about 70 percent of the economy.

Read more: http://www.foxnews.com/politics/201...economic-outlook-for-rest-year/#ixzz1Q2DdPoTg



Consumer spending in this country drives 70% of the economy. Hmmm. I believe that 69% of those spenders are spending money that they don't even have. Geez, lets get a credit card and max it out! Yeah, thats growth.
 

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The only difference between the Great Depression and what we are in now is public perception. a.k.a., the public doesn't know what is really going on right now like they did back then. It is more important for them to blatantly lie to keep the masses from panicking than anything.
 

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Discussion Starter · #3 ·
The only difference between the Great Depression and what we are in now is public perception. a.k.a., the public doesn't know what is really going on right now like they did back then. It is more important for them to blatantly lie to keep the masses from panicking than anything.
I agree with that. They sit back and pull critical data from their inflation numbers, try to make it look like there isnt any inflation when everyone sees the inflation when they buy gas and groceries. Yet, people still have their heads stuck in the sand like a good little ostrich citizen should.

shadowstats.com has the real numbers.. unemployment, CPI, all of em.
 

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The only difference between the Depression and today is: "R" & "c"...
 

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Bernake is not a real Keynesian economists. Even Keynes suggested no more than a 20% debt to GDP ratio.
So by lowering rates to zero and running the presses at full speed and of course the debt to GDP thing, he's less of a Keynesian?
 
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