Impeach bernanke

Jack o'Clubs

Experienced member
1,554 342
My view of most politicians, analysts, economists, and bankers is they all rank lower than dog sh1t.

...Being a short term trader...

Peter

I wouldn't be too optimistic about where society places speculators in the excrement hierarchy.

I don't think Bernanke has done a bad job in the circumstances. If anyone deserves impeachment it's probably Greenspan.
 

anley

Senior member
2,730 229
I agree. If it wasn't for Q.E. we would have seen the mother of all depressions. It would have made the Depression of the 1920-30's look like a minor dip of a recession.
We were on the brink of an international, worldwide, financial meltdown where no one (including all the banks) would trust ANY other counterparty with any money.
You would have seen runs on all banks everywhere around the world. Everyone would have withdrawn their money until every bank ran out and then closed their doors. Then the crowds of people demanding their money would have got violent and started ransacking everything else.

We're heading for the mother of all depressions. All QE and the other ******** has done is slow the realisation PLUS make it worse than it would have been.

They could have fixed the banks. Good banking is as much about trust and honesty as anything so if they'd jailed the top brass for fraud that would have fixed many problems right there. But they let them get away with it plus paid them which is why they've set up more and greater problems for the future.

But as far as the politicians are concerned they did a good job because short term everything is ok.......

Middle class is now toast, and I mean toast. Take that sector out of the economy and there is NO hope. All the middle class money is now spent on energy, mortgage costs, food, petrol and steath fees/charges. They have NO money for anything else hence no excess money for the economy. That is why there's so much more trouble coming - I just hope everyone is ready......
 

Splitlink

Legendary member
10,850 1,234
I do read Larry Levin's daily rant since you mentioned it a few weeks ago. He really gets his knickers in a twist every day, but there's a lot in what he says and it's often entertaining; bit like Glenn Beck on Fox News.

Th expansion of the money supply caused by high levels of POMO will probably cause major inflationary pressures and an asset class bubble but as long as the velocity of money supply doesn't go orbital we might just get away with it.
But hey, what do I know, I'm just a trader not an economist. Not that they know either.
Richard

I am not a great debater of economy but I know what I think. When I was at school my dad earned 7 pounds per week as a busdriver. When I married I earned 15. My first house cost 3250. There was a lot of money swilling around in the bubbles that ensued, later, that was not there in my father's day. The money flowed like water because whenever it was needed it was easy to borrow it. That money was worth only a fraction of my dad's pound but very few worried about values ten years ago, so what is the problem with printing badly needed money, now? That was supposed to be the era of prosperity for all but, in fact, it all proved to be a load of BS. If the governments need money in the street to help the economy and people out of work, then I see no real additional damage to our economies. The damage to the dollar has, always, been in existence because it is a country that has always lived on debt. Decreasing world confidence in the dollar means that they don't find getting cash as easy as it used to be. The corollary to that is that they have to print it, in the hope that they can control the press.

The Levin's of this world are highly paid rabble rousers. There are plenty of things that are not legal. Printing money is only one of the latest of them.
 
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Mr. Charts

Legendary member
7,370 1,194
Split,
Inflation with vastly increased money supply, asset bubbles as in commodities, pressure on interest rates and much else. As long as the increased money supply dosn't feed into excessive credit expansion we might just be ok.
A possibly over heating China may be the next problem.
I shan't mention Spain as you seem to live there ;)
Richard
 

Splitlink

Legendary member
10,850 1,234
Richard, if ever you want to know anything about what is wrong with everyone else's economy ask a Spaniard. :D
 

TheBramble

Legendary member
8,394 1,170
I've often considered a cabinet comprised of London cab drivers would provide unparalleled access to the root cause of (and solution to) everything and additionally represent genuine democracy.
 

Splitlink

Legendary member
10,850 1,234
I've often considered a cabinet comprised of London cab drivers would provide unparalleled access to the root cause of (and solution to) everything and additionally represent genuine democracy.

:D
 

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Mr. Charts

Legendary member
7,370 1,194
I've often considered a cabinet comprised of London cab drivers would provide unparalleled access to the root cause of (and solution to) everything and additionally represent genuine democracy.

You wouldn't say that if you'd met my brother in law who is a black cab driver.
A punter got in his cab once and asked to be taken to Waterloo.
He got out his map and took him there.
 

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Mr. Charts

Legendary member
7,370 1,194
I know, Birds Eye quarter pounder burgers 8 for 2 quid..OK for the barbecue..:p

I bumped into Joe Ross there, but he just made his usual statement and wouldn't engage in discussion.
I did try.
"Are you a monk fish?"
"Is that a cod piece?"
"Nice plaice"

He just wouldn't take the bait.
 
 
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