Yes, things are so bad that the DOW is down 2.8 points as I write this. Good grief, will reality and truth EVER matter?

Beat on Bernanke all you want, I think the FRB is just the bag boy for the banks. The banks create money and debt, not the FRB. We can still have asset bubbles without banks and without central banks. The FRB supposedly controlled money supply and therefore interest rates with reserve requirements and then the "federal fund" market, and now with rates at 0, the FRB no longer does even that.
I think the banks "control" interest rates, subject to their limited powers.

Right there with everyone that the FRB should not be buying MBS, or lending to foreign banks or foreign central banks, or lending to zombie US banks. Right now the banks are "lending" 1.57 trillion to the FRB. A lot of string to push on.

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Well not quite everything Mayor. Ben can't destroy the farmland, he can't destroy the bridges and roads, he can't destroy the intellectual property, he can't destroy our determination.

What he has destroyed is our credit worthiness, our reserve currency status, our nation. Just my two cents on how I see it. But I think a new America can rise and prosper for another 100 years from the ashes of the Greenspan/Bernanke/Clinton/Bush/Obama follies.

As was mentioned above he (acting through the government and on behalf of the banks) can confiscate it. He can destroy the roads and bridges, because how long will they last when government revenues dry up and the infrastructure cannot be maintained? Determination? The average American?

Destroying our credit worthiness and reserve currency status in a credit based economy is tantamount to destroying everything. I agree that removing the shackles of debt and corruption will give America a chance to prosper and move forward once again, but just realize that it will be from a much lower, almost unrecognizable (from today's perspective) level.

It must be liars Thursday. They had Turbo on after the market closed. They are talking nonsense they made $20 billion off the TARP. Yeah, after they pumped in trillions on the other end. Talking about turning foreclosures into rentals. Bailing out the banks through the back door and enriching the same people that caused this mess in the first place. Plus, that many rentals will probably implode the rental market, starting the circle all over again.

Check, it is a lot higher than that. Gas here was about 25 cents and you could buy it during gas wars under 20 cents all the way to 1973. I saw regular at 16.9.

Figuring 25 cents, it takes a double double to get to $1, another double to get to $2 and another to get to $4. 40 years, the rate to get to $4 is 7.2%. We are about 20% from there now, so 7% is in the ballpark. Of course, we are in a credit bubble that the government, banks and Wall Street severely need to continue. It is so bad, their mouthpieces believe we should go broke at least twice as fast as the hell bound train we already ride upon.

How can someone who lost everything and was foreclosed on qualify to rent a house?

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How can someone who lost everything and was foreclosed on qualify to rent a house?

Government housing voucher program? Probably something they will cook up in the future.

>>How can someone who lost everything and was foreclosed on qualify to rent a house?>>

Give a blowjob to Obama.

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Funny how we all like low prices -- except when we're sellers

That's why they love exponential growth and baked-in inflation. They are debt pushers. Their entire philosophy is based on putting out more and more debt. They know that if they dont have inflation then the debt ends up defaulting. How they get the lower 95%, who suffer all the consequences, to go along with this is the amazing part. But they're going to send Romney up against Obama, meaning absolutely nothing is going to change. People like getting raped so more power to em. Bernanke is right in that it is easy to make more than the rate of inflation. But you gotta be out of debt in order to do it. Since most of those drowning in debt vote for more debt via their votes for Romnebama, then so be it. Everyone gets what they want. The poor want to be screwed. They vote for it. Let them eat cake.

Need a picture to go with the title of the story.

I just watched that nauseating press conference and one quote stood out to me. When discussing savers, Bernanke mentioned that the Fed trying to adhere to price stability protocols would "minimize any loss (of purchasing power) due to inflation. Iow, the Fed is willing to financial repress people but only to a point.

I did not find that quote particularly encouraging.

Dr Bernanke's monetary policies may be totally destroying the economy, but as for the stock market what he's done has been outstanding. Dow's within 11% of ATH's. From that perspective, the US Markets aren't even remotely close to performing like the Nikkei from 1989.

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Well not quite everything Mayor. Ben can't destroy the farmland, he can't destroy the bridges and roads, he can't destroy the intellectual property, he can't destroy our determination.

Exactly. I have planned, and are living life without transacting with banks. This is my reaction to the Fed and the banksters.

Its fairly easy. VISA through credit union, likewise checking account. Investments through nonbank brokers. Two years ago I made the decision to liquidate stocks and payoff mortgage because I was seeking an extremely safe option for that portion of my net worth.

I can only urge everyone else out there - shun the banks.

"The premise of continually borrowing more to create more and more fake demand is a Ponzi scheme."

No truer words have been spoken, but the FSA doesn't want to believe it and politicians couldn't live without it.

And it gets materially worse EVERY YEAR MINUTE WE DON'T ADDRESS THIS!

FIFY (Never had a looksee at one of them thare debt clock thingies?)