Comments on: Fed Throws More Cold Water On Economy

Chairman Bernanke Admits "Numerous Difficulties" And "Significant Challenges" Face U.S.

[rhs648]

These people are incompetent when it comes to the economy. The only thing they know how to do is reduce taxes for the wealthy, bring on a staggering 10 trillion dollar debt that the next generation can choke on which is weighing down the dollar and threatens to destroy it should 1 more thing happen, and gamble everything for oil, and putting money on weapons industries and reconstruction projects and mercenaries that fund close buddies of Cheney and others.

In other words, they are incompetent. And the level of courage required to challenge these people is only in a minority of democrats and maybe a few Republicans if any.

In short, I don''''t buy that they know what they are doing. They have at least helped us get into this mess in the first place, haven''''t they? They need to do a quick ideological assessment of the nonsense of "trickle down economics".

Posted by ttinsly

This is why it is important to be independent and not rely on the government. People must put themselves in a position so they are not affected by every upheaval in our economy. The right education, the right skills, the right habits, and the right choices can make the difference between low or mediocre earnings and financial independence. At any time in history, there are people who become much wealthier than their neighbors. Some people are good at making the right moves at the right times. And yes, some people do it honestly.

[oneworldusa]

The economy doesn''t affect me currently because I have always been a saver, living below my means. However, I do feel greatly for everyone else trapped by rising fuel and grocery prices, the hard-working poor. I hope a viable resolution can be reached soon.

[rhs648]

"don''''''''t trust anything the elites tell you - a smart person will pull most of his money from his bank and wall st. accounts .. buy a safe and convert some of it into gold/silver .."

It''s very difficult to predict competitive markets. Obvious asset bubbles you know are going to pop (like the recent run-up in oil futures) but you don''''t know when. The dollar has been tanking - does that mean it will continue dropping or stabilize? It''''s difficult to predict, though generally the rule is buy low, sell high. Which means as markets fall, buy. When they rise, sell. Gold has been rising rapidly, i would sell gold and buy bank stocks right now. But I could be wrong, actually it is impossible to accurately predict these markets other than general trends that over-valued assets tend to decline over time and under-valued tend to rise.

Posted by SharnCedar

Many investers buy high and sell as their stocks go down. The smarter investers have already sold their stock as the prices near their highs. The key to investment profit is to buy low and sell as everyone else jumps on the bandwagon. Unfortunately, the crowd mentality often defies logic. Stocks are on sale now. Anyone serious about making money in the stock market should be investing now. Mutual funds provide greater safety because each fund owns many different stocks. We have been through economic downturns many times. The stock market has always rebounded. It may take time but it will rebound.

[txgrouch2006]

Gas is $4/gallon, the Dow is below 11,000 with "no reason to believe it won''t continue to fall," banks failing, people can''t sell houses, staggering national debt.

And NOBODY, Democrat or Republican has announced ANY major plan to do ANYTHING about it. Bush made his usual "in denial" speech. The Democrats in Congress are sitting on their hands and doing nothing.

NOBODY IS DOING ANYTHING TO FIX THIS ACCELERATING CRISIS. I haven''t seen such a rapid and plainly visible economic fall since he Carter years.

[txgrouch2006]

Rayuk wrote
Has there ever been a Republican President that did not produce a sever down turn in the economy?
---------------
Ronald Reagan

Has there ever been a Democrat President in office when a war DIDN''T either start or escalate? Jimmy Carter. Clinton is out because of all his airstrikes, which he launched every time his popularity was sagging or he was getting impeached.

[txgrouch2006]

lovegetpeace wrote
is the reason they repeat mistakes like re-electing Bush twice. Also, Americans can only see 3 months ahead and not 20 years like Japanese and Brazilians.
--------------
Um - a President can be re-elected only once. Term limits, you know.

And if the Japanese are so smart, why is their economy a wreck today? Wrecked by their own protectionism, and wrecked by laws designed to enrich the big companies at the expense of the working class. You''ve probably never been in Japan and seen the stacks of junked white Toyotas that were only a few years old...

[lovegetpeace]

Posted by rhs648 at 08:07 PM : Jul 15, 2008

"...Their problem is where to put money to earn decent returns and to keep it safe."

I see you wish American to Gamble their hard-earned money on Wall Street instead of sacrificing it on the future of America by raising Taxes. America is bankrupt and Americans will not sacrifice for it. I feel sorry for America!

[lovegetpeace]

Americans have a very short term memory. This is the reason they repeat mistakes like re-electing Bush twice. Also, Americans can only see 3 months ahead and not 20 years like Japanese and Brazilians.

[stevex47]

Sounds logical to me sharn,
But, I want to bash some nutjobs, ha. Sorry, but I can''t help but try to place blame for the mess we''re in. Really, just to drive home the point to not let this happen again. Sooo, the moral of the story is....

Don''t anyone ever, even think of voting nutjob again. Just look what it''s done to us, please learn from your mistakes.

[cattlekate]

Dear Lord I just watched Bush''s presser.

And why is it no reporter asked about Gramm''s Enron loophole and his electronic trading allowance where commodities do not have to land in the physical possession of those who only have to put up 15 percent of the bid?

Don''t tell me the press people are incompetent.

I8c6 - it was THREE jobs.