Comments on: Fed Chairman Ben Bernanke's Take On The Economy
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- Talk about inspiring confidence, he was so nervous in conducting the interview. Do you think that he really believe in himself?
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- He looks kinda muslimy.
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- scott pelley, this was a very lame interview on your part.
why didn't you compare the interview you did with bernake a few months ago where he said "we see the light at the end of the tunnel"? Why didn't you ask about the devaluing of the dollar?
Why didn't you call him out on printing more money to monetize the economy and the stock market? Why didn't you delve deeper into why US taxpayers should subsidize foreign banks and industry? Scot, you are a master of the furrowed brow and the concerned look but you interviews are half-baked. - Reply to this comment
- "With hiring so weak, the unemployment rate rose from 9.6 to 9.8 pct. The jobless rate has now topped 9 pct for 19 straight months, the longest stretch on rec." And Mr. Fed Reserve Chairman Ben Bernanke held a key int rate at a rec low near zero since Dec. 2008. Hummmm, I wonder is there a correlation? What's that? I thought I've heard that Mr. Bernanke whispered to me - "Borrow money to spend and boost the economy" - really? What a stupid idea!
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- One thing I noticed, Bernanke did not state anything the Fed or the Admin. did wrong, he took no responsibility for poor economy. He even said the Fed did print money, only "purchased T-bills" and Pelly did not even ask "with what money?".
About low interest rates....they are find if they are the result of normal economic factors. But, 'managed' low rates creates false supply/demand activity and provides risky borrowers to qualify.
Bernanke provided no information on how jobs can be created. He wrongly believe spending borrowed money will spur the economy, but without demand (and customers) all we will have is greater debt we cannot pay.
ajbruno14@gmail.com - Reply to this comment
- I know I will probably get crucified for this but I dont think we should give any money away if we have to borrow money to do it.
There is where our first best and most to the point cuts should be made. - Reply to this comment
- all bernake has done is print money. He has monetized the economy and manipulated the stock market. Doing so has devalued the dollar to record lows and he is now scared to death of inflation brought on by his own actions, or worse, deflation - when prices drop and people don't have enough money to buy anything. This man is absolutely clueless. If anybody should be collecting unemployment, it is ben bernake. It is time for somebody to investigate the fed.
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- Ben Bernanke is a straight shooter. He has done it right. He has made interest rates low to give the middle class a chance to get their lives in order. Don't blow the opportunity this Man has given you if your in debt.
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- Berhanke's statement that the "skills" of unemployed people "erode" is a sweeping generalization that is really slander of an entire group of people. By all rights, unemployed Americans should file a class-action lawsuit against him for this. And he's not the only one who's expressed this opinion in public with straight-faced confidence. These statements just support employer discrimination against unemployed Americans, which is unfortunately still legal. If Bernanke wants to see long-term unemployed Americans back at good jobs, he should at least keep this opinion to himself. The truth is, every unemployed American has a different story about his employable skills, and any stranger who thinks he knows anything about the case of a specific person doesn't know what he is talking about. The same is true of employers who discriminate against the unemployed because they share Bernanke's opinion. They always get to reject such applicants without challenge, never having to face a challenge in, say, a probationary period for every new employee. For Scott Pelley to hear Bernanke's opinion without even asking him "How do you know this is true for this or that specific unemployed American whom you know nothing about?" shows he's not too sharp a reporter when it requires standing up to conventional stereotypes. There was a time when military veterans did not get preference points when applying for jobs. With slander like Bernanke's being publicized uncritically, maybe it's time for a law against discrimination against unemployed applicants, and for these people to get 10x the preference points veterans now get.
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- At least 9/10ths of what Bernanke said on this program was wrong, indicative, if not bald-faced lies, that he knows no more than the avg econ prof, which is not very much. We have just the same amount of unemployment as in the Depression, around 15% on average. That was caused by exactly the same policies as now both prior to the stock mkt crash and afterwards. The effect of buying up securities is the same as printing money, which if it does not drive up prices - it is in fact doing that with respect to food, oil and other commodities, of which the 3d world is complaining - is definitely making the dollar worth less. If there is no inflation possible, then why has he been saying that he wants to create some? In fact the prospect is worse than inflation, not because of escalating deflation, but because he has been running American productivity into the ground by constantly handing out what amounts to welfare checks. Who wants to invest or work, when the govt keeps handing them money? The disparity in wealth and income is caused by precisely these central bank policies, which rewards people for speculating instead of working. It has zip to do with teaching, except that no one wants to teach either, and a lot to do with motivation. Personally I wish this little pipsqueak would have the decency to resign.
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