High Hard One
In case you missed it:
posted by The Cunning Realist at Saturday, December 05, 2009
Saturday, December 05, 2009
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I am a New York City resident in my forties, an investment professional, and a conservative. I have an MBA from Columbia University.
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19 Comments:
Accountability makes a brief appearance.
High hard one, yeah, right at the head (Bunning's speciality when he was in the show); brushed Bernanke right out of the box with a stumble and a stammer but didn't keep him out unfortunately.
Would have liked to hear Bernanke answer some of those questions, but still great in any case.
I don't live in Kentucky and haven't paid much attention to Bunning. I knew time called him one of the five worst senators, the mainstream media hates him and calls him a crazy lunatic and makes mountains out of any PR mistake it can, and the republican party abandoned him telling their donors not to give him any money. I understand he was the only senator opposing his nomination in the first place. Which makes me wonder if he had this poor treatment before he criticized Wall Street's choice. Anyways as he is a warmongerer i can't think too much of him and if Rand Paul could win the seat it would be a drastic improvement. I suspect Bunning is at least honest and lnows wall street is nothing but a den of thieves
In case you missed this;
http://www.ritholtz.com/blog/2009/12/bernanke-confirmation/
Привет, постояльцы сайта cunningrealist.blogspot.com !
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Где скачать такой?, тут смотреть http://oslik.info/forum-view-3525.html
Подскажите!
Classic clip. He did a good job summarizing the Fed's major errors.
A Republican concerned about consumer protections?
If only we had a disciple of Ayn Rand running the Fed, all these problems would have been prevented.
Oh wait...
Yes now that we have those great democrats in charge the economy is sure to flurish. With Chris "countrywide" Dodd putting the screws to the FED things are sure to get straightened out. Lol
The point about AIG at the end has always been a big one for me. How can Bernanke say he had no leverage over the company and the counter parties? Who is bailing out who here? It had to be 100%? 98 or 99 wouldn't do it? He just let them hold the economy hostage.
If I were conspiracy minded, I might think it was some sort of insider deal. I can't help but think of Rage Against the Machine: "What? The land of the free? Whoever told you that is your enemy!"
Just announced that Senate Banking Committee will vote on Dec. 17 re Bernanke confirmation. Senators opposed to confirmation need all the help they can get to at least delay it. To motivate you I include this sentence “President Barack Obama says Bernanke, 55, has the skills to lead the country from recession into a lasting recovery” that appeared with announcement. The link shows how senators voted re original TARP, including 25 nays.
http://www.govtrack.us/congress/vote.xpd....
Forty votes will be needed to delay confirmation. Please help by calling those senators who may be on the fence, starting with those on the banking committee. You can probably guess who might have a prayer of voting nay. (hint...that would not include senators from states with financial interests and who are funded by them)
to complete link add "?vote=s2008-213" after the xpd.
Will be interesting to see the results of the vote. Time for some sentators to walk the talk.
They're going to have to throw Bernanke under the bus. The economy is in too much shambles.
There were a few instances in Bunning's 2004 reelection campaign where he really seemed, at least to this non-Kentuckyian, senile. Enough voters agreed that Bunning came close to losing, while Dubya was winning the state by a large margin.
Up until recently Bunning's political career has been unremarkable, sort of standard Republican apparatchik, though you have to respect his professional sports career.
The standard politician is bought and paid for. It is sad that the only honest representation you can hope for is if they go senile and forget they are supposed to be doing their financial backers bidding.
In my view the programs established by Bernanke and the US government in general (and other governments that have followed in their footsteps) in their attempts to "improve" the economy are extremely irresponsible and wreckless. They have used terrible Keynesian policies and wasted trillions of dollars bailing out creditors and shareholders of failed institutions with broken business models rather than addressing the structural flaws in the system of too much debt. And these actions are going to lead to massive problems down the road with regard to our currency and interest rates, in my opinion. Furthermore, I think that the gold price breaking out to a new high is a strong indication of the reduction in faith and confidence that people have in governments and their fiat currencies. I recently read a good article called Gold Price Wobbles Under $1,130 But U.S. Dollar Future Bleak at that discusses the Federal Reserve's easy monetary policies in order to try to prevent any sort of deflation from occurring and to try to reflate assets prices. There are also many more articles here that I think are very helpful for any investor to read because they help to explain the investment implications for the dollar, the gold price, and gold mining companies who I believe will continue to benefit from central banks' inflationary programs.
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The guy is definitely right, and there's no question.
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