#3
Hes the chairman of the federal reserve who pissed away over 9000 and now is trying to make himself look good by putting out the fire he started
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#5
good luck putting it out by printing money. hes going to inflate the currency into oblivion
#6
Are we suppose to know who this is...?
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#8
His creative leadership helped ensure that 2009 was a period of weak recovery rather than catastrophic depression
the economy would be much, much worse if the Fed had not taken such extreme measures to stop the panic.
Yeah, what a cunt.



stratkat
#9
I honestly have absolutely no idea who this man is.


EDIT:

Quote by heavenbesideyou
Hes the chairman of the federal reserve who pissed away over 9000 and now is trying to make himself look good by putting out the fire he started



And now I do have somewhat of an idea.

How dare he! *shakes fist*
#11
Quote by heavenbesideyou
Hes the chairman of the federal reserve who pissed away over 9000 and now is trying to make himself look good by putting out the fire he started


What would you have done that was better than what he did?
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#14
Who?

Obama should have won hands down. No one brought about as much change as Our Glorious Leader.

#17
Quote by blocky
stop... printing... money...
so simple


Then your, followed by world, markets would have frozen up, business would have collapsed and everyone with anything invested in a bank which goes under loses everything. If you haven't noticed, the economies are recovering. This guy is an expert on the Great depression, which occurred because the Fed did nothing, and let everything collapse around them. He has risked everything to bring everything back so the problems can be addressed.
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#18
actually the depression was much more then just the fed not doing anything.. like the blow back from the 1920's with credit getting huge and debt piling...
#19
Quote by AzureNight
Who?

Obama should have won hands down. No one brought about as much change as Our Glorious Leader.



lol
#20
another funny point is the fact the economy crashed before he was even elected so I fail to see the humor in that comment..
#22
Quote by ehlert99
actually the depression was much more then just the fed not doing anything.. like the blow back from the 1920's with credit getting huge and debt piling...
Problems exacerbated by the inactivity of the Federal Reserve.



stratkat
#23
You are aware the US had I think the largest nation deficit even before the current crisis? The same things were happening. However, cash flow stopped in the great depression. In the more recent morgage problem, nobody was sure exactly what they owned due to their lending to people who couldn't afford it. So people stopped moving money around, and everything was grinding to a halt. Buying up the toxic assets and giving the banks money was expensive, but it allowed them to function. If you read the report, there is only one bank in the US which is currently still unhealthy (whatever that is defined as), the rest have all recovered.

He made a choice between spending a lot (but not a massive amount compared to the size of your economy) or risking complete collapse of a system. The guy spent most of his life studying depressions. You'd think he knows a fair bit more about dealing with them than some people saying "lol spending is bad". Of course what he had to do is not something desirable. It's just that the alternative is far worse.
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#24
because they are doing so much for debt now... they can't help the fact mass production led to mass purchases using credit to dig themselves a hole destroying currency value which plumetted the stock market into chaos causing nubs to panic and pull their money making the problems much worse.

I get it, the fed didn't do much.. but they are not doing much now... they don't change the %'s on banks because they are afriad it will all blowback on them.
#26
Quote by ehlert99
because they are doing so much for debt now... they can't help the fact mass production led to mass purchases using credit to dig themselves a hole destroying currency value which plumetted the stock market into chaos causing nubs to panic and pull their money making the problems much worse.

I get it, the fed didn't do much.. but they are not doing much now... they don't change the %'s on banks because they are afriad it will all blowback on them.


Not doing much? How many billions did they pump into markets and how many massive companies did they bailout (beleive it or not, bailouts are necessary. The CEOs would walk away with millions either way. The employees and the customers would be the biggest losers).
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#27
I just don't think Obama should get it, yet. Maybe in a few years.

Also, I found that him calling Obama his glorious leader was just hilarious. You shouldn't treat any leader like that, when it comes down to it they are the same as the rest of us.
#28
I thought this wasn't supposed to be a good thing. Haven't both Hitler and Bin Laden been man of the year too? I was under the impression it was the person who had the biggest impact. In times like these, someone like Bernanke is pretty influential.
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#29
Quote by EuBoat
Problems exacerbated by the inactivity of the Federal Reserve.


no, these are problems by people living beyond their means, and eventually there was more debt than there was money. when people realized they flipped shit, sold everything, trying to get their money before it was all gone.


printing money is not the answer, just look what happened to germany after WW1. the only use their money was, was to build a fire with.

economies will recover on their own. it may take longer, but its not artificially inflated and "fixed"

/rant
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#30
Quote by axethrower13
no, these are problems by people living beyond their means, and eventually there was more debt than there was money. when people realized they flipped shit, sold everything, trying to get their money before it was all gone.


printing money is not the answer, just look what happened to germany after WW1. the only use their money was, was to build a fire with.

economies will recover on their own. it may take longer, but its not artificially inflated and "fixed"

/rant

Works most of the time actually. Quite frankly, WW1 is an extreme case, and their money printing was for different means. Germany printing money to pay of debts. The USA is printing money so that there is money to keep the system moving. One is a spiral of hyperinflation. The other may lead to a little which can later be corrected. Note how he is not doing any more drastic measures and is seeing what is happening. In Germany post WWI, they had no choice but to print more money.
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#31
i respectfully disagree. i do believe we printed money in order to trick people into believing everything was ok. the fed backs the dollar. the fed then turned around and "bailed out" banks and companies with billions of dollars that didnt exist. now what we have is more "money" with even more debt backing it. sure, it may have diluted the problem for the time being, but its in no way or shape fixed.

bernanke is a smart guy, ill give him that. but the fed bank is broken and corrupt.


the fed needs to stop twisting the economy. hands off! and it will fix itself!
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