MSM Gets Even More Dire

Hey, this just came up.

Bernanke says the sovereign wealth crisis in Europe won't hurt our economy much, if at all. Nope. No way. Everything is fine. Nothing to see here. Keep spending.

AAAAAAAAAH!

Originally posted by GreenBicMan
reply to post by SeekerofTruth101

 

The dollar is backed by the full faith and credit of the US Gov.

The rest of your post is hard to follow and goes in many tangents. If the dollar blows up so does the gov. So you will not have to worry much about the roads because there will be nothing to pay for it with.

The government is acting totally contrary to the wishes of the people.

The government shells out the bailouts that most of the public oppose.

The government passes a health care bill that most of the public oppose.

The government cheers a Mexican president that opposes a law that most of the public supports.

The government spend our money and obligates our future generations to giant debts with numbers that exceed the value of the world's entire economy.

How much faith and credit does the government deserve?

anybody who thinks ben b is the man to listen to regarding the crisis or our economy is a out and out moron or ignorant

this is the man who said the subprime crisis is contained! i could search for 15 min's to pull up a whole list of basic B.S that ben said that were great CONTRARIAN indicators....but ben knows this (at least i think he does) he even wrote a paper on it........He will lie to give the markets confidence so long there are still suckers that take him at his word

the markets are showing action that screams DANGER.....

If i were you i would take whatever cash you need for the next 5 years out of the market tommorrow because we could be going down fast!

I would hope that the fed's or whoever would step in to prop it up but i'm not sure that they will......and hopefully the next week or so passes w resistance being held by the market's.

In green bic man's world everything is fine because we have the reserve currency and a extremely dominant military.

I think we could harness a turn for another quarter or two or three by very agressively going for a larger stimulus bill but one that is aimed at productivity and yes there will be pork ....but this will STOP what otherwise could be a debt deflationary spiral....i.e falling consumption....falling employment....falling stock market...yikes! so i see a intelligent stimulus bill as something we with the reserve currency could do and get away with because the we could finance the damn deficit with our own money printing and this will NOT LEAD TO INFLATION! so this is our best hope IMO a stimulus (at least in the name of kicking the can down the road) this is what we would look a week or so after a market crash scenario!

now on the otherhand when the fed and treasury have been doing the fed and treasury could print all they want but not for stimulus but to keep rates low on gov't debt... but FOR PROFIT banks WILL NOT LEND this new money .....it will not get into the economy....esp... when uncle ben pays banks nearly 1% to keep their excess reserves parked at the fed! all the printing will accomplish is to keep intrest rates low on gov't bonds and help re-capitalize banks....the main street economy could starve! (in the instance of a market crash and no large productive stimulus) so in that sense all is not well just b/c we could print.....

i post here now like once a month LOL but today was a day that needed a post......things could go down hill fast.....let's hope they don't

[edit on 9-6-2010 by cpdaman]