Network News

X My Profile
View More Activity





Bernanke says Fed would act if necessary to boost economy

By Neil Irwin
The Federal Reserve would take action if necessary to keep the economic recovery on track, its chairman, Ben S. Bernanke, said Wednesday. Yet he expressed confidence that the expansion continues.

It was the first public acknowledgment by Bernanke that the agency could take more policy steps if the economic recovery continues to disappoint. In his semi-annual testimony on monetary policy to the Senate Banking Committee, he gave a dual message: cautious optimism about growth and recognition that risks that the recovery will falter have risen in recent months.

Even as the Fed continues "prudent planning" for how to exit its steps to support the economy, "we also recognize that the economic outlook remains unusually uncertain," Bernanke said in prepared testimony. "We remain prepared to take further policy actions as needed to foster a return to full utilization of our nation's productive potential in a context of price stability."

Bernanke did not say what policy actions he had in mind, but potential steps include cutting the interest rate paid on bank reserves, reaffirming the Fed's promise to keep short-term interest rates low for the foreseeable future, or buying enough mortgage securities to replace those that are paid off.

If the economy appeared at serious risk of returning to a recession, the Fed would consider large-scale purchases of Treasury bonds or mortgage-related securities to try to head off another crisis.

The Banking Committee's two senior members had different priorities for the policies they would like the Fed to adopt.

"It looks like our economy is in need of additional help," said Sen. Christopher Dodd (D-Conn.), chairman of the committee. "One of the issues I would like to explore with you today is whether the Fed can do more to help expand output and employment."

Sen. Richard Shelby (R-Ala.), the panel's ranking Republican, who has expressed greater concern about inflation than economic growth, said that "there are questions about whether the Fed has changed its focus from executing an exit strategy to lowering interest rates on reserves and possibly further ballooning its balance sheet with more asset purchases.

"This is especially concerning," Shelby said, "because the purchase of even more long-term assets may channel credit to favored segments of the markets at the expense of others."

Overall, Bernanke's comments on the economy were subdued. The expansion that began last year "is proceeding at a moderate pace," he said. The end of the government stimulus package and the lag in business inventory restocking, he said, "will likely be providing less impetus to the recovery than they have in recent quarters."

He said the job market showed continued weakness, which could hamper consumers' ability to drive the recovery in the years ahead. In particular, he said, the 100,000 or so private jobs being created each month so far in 2010, is "a pace insufficient to reduce the unemployment rate materially."

Bernanke also noted the economic impact of millions of Americans being unemployed for six months or longer. "Long-term unemployment not only imposes exceptional near-term hardships on workers and their families, it also erodes skills and may have long-lasting effects on workers' employment and earnings prospects," he said.

He was more optimistic about the corporate sector, noting that investment in equipment and software "appears to have increased rapidly" in the first half of the year and that exports are rising.

Inflation appears to be a more distant concern. Bernanke said that Fed leaders forecast that consumer prices will rise only about 1 percent this year, below the 2 percent that the Fed aims for.

By Neil Irwin  |  July 21, 2010; 2:25 PM ET
Categories:  Federal Reserve  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: IMF: Europe's still in the dumps
Next: Economic agenda: Thursday, July 22, 2010

Comments

What Recovery?

What is Bernanke going to do? Interest rates are currently so low that all he could do further is to pay banks to borrow.

Posted by: Anonymous | July 21, 2010 3:10 PM | Report abuse

Obama is so busy spending money and threatening businesses that he forgets who creates jobs and actually makes the economy run.

Barrack Hussein, let me give you a hint: the government has nothing to do with creating jobs. It can only make things worse.

Posted by: Skeptic1 | July 21, 2010 3:17 PM | Report abuse

Even as the Fed continues "prudent planning" for how to exit its steps to support the economy, "we also recognize that the economic outlook remains unusually uncertain,"

===========================================

As people read this no one should wonder why companies are hoarding almost $2 trillion in cash.

Posted by: bbface21 | July 21, 2010 3:21 PM | Report abuse

The best that can be hoped from the Federal Reserve is that its policies do no harm. Its effort to create economic growth by throwing money in the air is like trying to do work by lighting a fire. The best course would be to normalize interest rates and wait for the real economy to adjust itself to a stable, sustainable, predictable long term economic context. But, at least the Fed is resisting doing more damage.

Posted by: Anonymous | July 21, 2010 3:25 PM | Report abuse

All we keep hearing from these Administration people are WEASEL WORDS.

Posted by: milltownfan | July 21, 2010 3:28 PM | Report abuse

It should be obvious that given the nature of the American "Economy"; no recovery will occur until and unless the people of America are recapitalized! And this can only be done by writing off a large part of the personal debt, the preferred course; or by inflation that makes the current debt load shrink in relation to income! Nothing the Banksters, the Congressional Lackeys, or the Administrative Insiders are doing or considering doing address this fundamental fact! On the contrary, this troika is colluding to perpetuate the subjugation of the people by criminal financial business practices aided and abetted by judicial and congressional collusion to ensure the villains are protected and the victims receive no help!

Posted by: CHAOTICIAN101 | July 21, 2010 3:35 PM | Report abuse

Bottom line: The Democrats don't have a clue how to fix the economy, so they do what Democrats do-- they give (other people's) money away and hope it buys them votes.

Posted by: Anonymous | July 21, 2010 3:40 PM | Report abuse

It is high time the gainfully employed, hard working, pay check earning and savings account depositors send the entire current administration packing. Where they go is immaterial so long as they do not continue to willy nilly screw up the United States Economy. I for one will pay my fair share of taxes to fund the government. But the government cannot unfairly increase my taxes to fund people who do not work, do not pay taxes or have somehow found themselves in one of the sleazy federal cracks that allows them to take a free ride. Obama is nothing but a bum who is a direct result of the political left weenies who currently control this country and create economic havoc. I sincerely hope that all of these idiots are voted out in November 2010. The old saying buyer beware has never held itself truer than now. We are capitalists in a communist run government. Now that I say that - send them packing to Fidel in Cuba. They would do a great job there except for the fact that Cuba is already broke due to the policies in place there which the current administration is steadfastly at work implementing here and regardless of what they do there they cannot further screw up that country's debt!

Posted by: euripedes | July 21, 2010 3:56 PM | Report abuse

anonymous wrote- What Recovery?

What is Bernanke going to do? Interest rates are currently so low that all he could do further is to pay banks to borrow.
=========================================
Why did you give them that stupid idea?

Posted by: Anonymous | July 21, 2010 3:57 PM | Report abuse

uncertainty about Obama policy?

lol

Posted by: Small_Town_Boredom | July 21, 2010 4:00 PM | Report abuse

It's becoming apparent that the vaunted business comunity is unwilling to create jobs, so government may be forced to resort to job creation, like the Civilian Conservation Camps, to put people to work so they can earn money so they can spend. Make-work jobs could help rebuild America's infrastructure while states are cutting back. Someone needs to put more money into circulation, before the economy starts imploding.

Posted by: Anonymous | July 21, 2010 4:25 PM | Report abuse

Posted by: euripedes | July 21, 2010 3:56 PM
*******************************************

Euripisses,you are typical of Obama critics...a lot of suggestions..go to Cuba...go back to Indonesia...i see Alaska from my toilet...but never any logic...how about this one...force american corporations back to the U.S. to hire americans or lose the right to keep your corporation in the U.S.,,,along with the protection...take it to Europe..oh no..taxes...take it to Indonesia..oh mo..Muslims...take it to Africa,,,,oh no blacks...ok so...bring it on home and hire americans.

Posted by: Anonymous | July 21, 2010 4:26 PM | Report abuse

Fact - The US has now gone 10 years, an entire decade, without creating a single job. Not a single one.

This also corresponds, within a few months, to the Bush tax cuts which were given to the wealthy with what justification? Oh yes, because they are the ones that create jobs.

Hey I know let's blame it on Obama.

Posted by: timothy2me | July 21, 2010 4:31 PM | Report abuse

Once again reality raises its ugly head. What will Bernanke do? He will keep doing the same thing, printing money out of the clear blue sky. The ground is being prepared for even more spending in a futile effort to fix a problem created by credit by using even more credit. I am afraid that we are rapidly approaching the end game. The sheet is about to hit the fan and there is no power on earth which can stop it.

Posted by: Anonymous | July 21, 2010 4:35 PM | Report abuse

But, Why is Obama Destroying America. If you truly want to know what is going on; Then you will have to accept these things as the TRUTH. Once you understand the following things; All things will be understood. So I tell you Obama is the Anti-Christ, Satan on Earth, Lawless One, or what ever else you want to call this Demonic Figure. His words describe him, He is a False Hope, If you listen to him you will love him. He carries a Bow without an Arrow. He will conquer all through his speech, his false hoods will capture all who sit and listen to him.
2 Thessalonians 2:11-12
11And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.

Posted by: makom | July 21, 2010 4:36 PM | Report abuse

I'm beginning to think that the Obama Administration does not WANT a recovery. The worse off people are, the more they will turn to The State for help. The more the middle class is impoverished, the easier it is for The State to redistribute wealth from the rich to the poor.

Think FDR on steroids.

It's something similar to the Cloward-Piven Strategy.

http://en.wikipedia.org/wiki/Cloward%E2%80%93Piven_strategy

Posted by: pmendez | July 21, 2010 4:37 PM | Report abuse

"I'm beginning to think that the Obama Administration does not WANT a recovery. The worse off people are, the more they will turn to The State for help. The more the middle class is impoverished, the easier it is for The State to redistribute wealth from the rich to the poor."

Bush already distributed the wealth from the poor and middle class to the rich. We are just now enjoying the fruits of his labor.

Hey I know let's give trickle down another try before it runs out later this year. 10 years of trickle down and not a single job created.

Posted by: timothy2me | July 21, 2010 4:44 PM | Report abuse

The GOP denies there is anything wrong with the economy. Their guys crashed the banking system yet the remedies the government applied during the last months of Bush-Cheney and the first months of Obama-Biden they say were not necessary and imprudent. Moreover, if you are unemployed because the economy is in a ditch, it is your own darned fault for not taking a job well beneath your worth. Economists say the stimulus package WAS TOO SMALL. Sarah Palin says there should not have been bailouts nor a stimulus package. Meanwhile, the government continues to borrow at a prodigious rate to fund two pointless wars and a dysfunctional intelligence apparatus. Same stuff, different day.

Posted by: BlueTwo1 | July 21, 2010 4:48 PM | Report abuse

now that is shizzle-liscious you go girlfriend

Posted by: Anonymous | July 21, 2010 4:50 PM | Report abuse

This is recovery?

Ben S. Bernanke, said Wednesday, even as he asserted confidence that the expansion continues."

Yes, the expansion of big government and thousands of perverse regulations.

Posted by: jimbob3 | July 21, 2010 4:52 PM | Report abuse

"Once you understand the following things; All things will be understood. So I tell you Obama is the Anti-Christ, Satan on Earth, Lawless One, or what ever else you want to call this Demonic Figure. His words describe him, He is a False Hope, If you listen to him you will love him. He carries a Bow without an Arrow. He will conquer all through his speech, his false hoods will capture all who sit and listen to him.
2 Thessalonians 2:11-12"

Economics 101?
11And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.

Posted by: timothy2me | July 21, 2010 4:55 PM | Report abuse

As one of the elite who lead the US down this path -he should know. Jerk!

Posted by: Anonymous | July 21, 2010 5:14 PM | Report abuse

Ready, set, GO!

Somebody blame Obama for everything!

Posted by: BattleOffSamar | July 21, 2010 5:17 PM | Report abuse

Alan "The Moron" Greenspan said we were on "Pause". The only thing on pause is Greenspan's brain.

Everybody told me that Benny B. saved us from a Depression. I said not yet. I was absolutely right. Ben hasn't a clue and he hasn't anymore tools left.

Don't believe the inflation vs. deflation stuff. We have inflation because the Fed has been injecting money and into the economy for 15 years. Prices cannot rise because we are in recession or depression. Most likely we will have stagflation.
.

Posted by: hz9604 | July 21, 2010 5:18 PM | Report abuse

We need Tariffs, Industrial Growth, and High Wage Jobs.

The Trade Deficit and the National Debt Prove It.

There is no mystery about what will fix it.
Those who drained the nation dry just do not want to fix it and would rather sit back and watch the USA fall into dust at their feet then change a thing.

Posted by: Elisa2 | July 21, 2010 5:26 PM | Report abuse

Time for immigration moratorium. The only reason to continue legal immigration including student visa, H-1b, etc. is reducing whites to a minority and reducing wages of all but the bailoutees.

Posted by: OldAtlantic | July 21, 2010 5:27 PM | Report abuse

Lets face it, the liberal-wing of this Democratic Congress and Obama fooled us and have put the US economy on the verge of a much serious heading. No doubt the previous administration blundered big time and then spent the nation's wealth to fight high-tech wars. But Obama knew that and said he would stop that direction and turn the country's economy around. Instead, he future economic growth at serious risk with high tax and debt policymaking. I'm all for repealing healthcare, the new finreg and any carbon tax coming. These politicans forgot what built this nation of ours. We are not Europe. We are free, and that means the markets and the economy. The least gov't is involved, the better. Tax as much to run gov't and no more. The power and success of America, are in her PEOPLE, not the federal government!

Posted by: Anonymous | July 21, 2010 5:31 PM | Report abuse

Obama had the option of dealing with the eceonmy or cashing on on his supermajorities. He chose the latter...
even though Warren Buffet (Gibbs said when Buffet speaks about the economy, the White House will listen) was saying on CNBC 1.5 years ago "why is Obama cramming all this other stuff down our throats. The economy is off the cliff".

Posted by: hz9604 | July 21, 2010 5:36 PM | Report abuse

Well of course we have uncertainty with the economy. As long as our little man-child is in the White House, the economy will stay very uncertain.

Posted by: liberalsareblind | July 21, 2010 5:36 PM | Report abuse

Bernanke is the problem, not the solution.

Posted by: shel_zahav | July 21, 2010 5:39 PM | Report abuse

Close down the FED! - Repeal the Usury Federal Reserve Act,- and send those 'funny-money' DEBT INTEREST THUGS back to Europe where they came from back in 1911-1913. - And for FIN-REG,- what a JOKE on the American People! "Worthless"! - And a so-called Consumer Protection Agency,-- HA,-- another Joke,- and placed under the Control & Manipulation of the Globalist $BANKster Federal Reserve Private Bank. -- INSANITY to the MAX!! -- When will the U.S. Citizens "WAKE-UP"? - The so-called Federal Reserve is NOT Federal,- it is a privately owned bank, - amnd most of it's Stockholders live in Europe!! -- The SAD thing is that Your' CONGRESS is in $BED with this $BANKster Fiat 'funny-money' #BANKster Cartel!!! -- FIN-REG does NOTHING!!

Posted by: jward52 | July 21, 2010 5:43 PM | Report abuse

You truly have to wonder who dresses this guy in the morning?

Maybe Michelle has one of her 20-plus maid staff visit Ben every day, just to make sure he doesn't have his pants on backwards...

Posted by: Anonymous | July 21, 2010 5:44 PM | Report abuse

Government of the Swag Baggers for the Swag Baggers. The Swag Bag Party includes the Bernanke Baggers, Bailout Baggers, TARP Baggers, Goldman Baggers, Illegal Baggers, Walking Around Money Baggers, Immigration Baggers, H-1b Baggers, Student Visa Baggers, Anchor Baby Baggers, Acorn Baggers, Ayers and Dohrn Baggers, Affirmative Action Baggers, Lobbying Baggers, and the rest of the Undeserving Bagger Party.

The Swag Baggers want their 2 trillion dollar Swag Bag and anyone who comes between them and their Swag Bag they call a racist. But the true Bigot Baggers are the Swag Baggers.

Posted by: OldAtlantic | July 21, 2010 5:46 PM | Report abuse

Recovery for who? It's not much of a recovery if the congress is trying to extend unemployment benefits.

Posted by: sam51 | July 21, 2010 5:46 PM | Report abuse

Would it be too much to ask that Mr B. keep his friggin mouth shut long enough for the markets to recover a little. Speculation and hearsay are driving this market to ruin. Spurting out this kind of propaganda without facts is irresponsible. I mean christ it's only his opinion, now youve heard mine

Peace out

Posted by: Anonymous | July 21, 2010 5:51 PM | Report abuse

Of course there is uncertainty. What else could there be with the country being managed by a wrecking ball?

Posted by: Anonymous | July 21, 2010 5:52 PM | Report abuse

Agreed, but to keep repeating bad news to short minded hyped up speculators ruined what looked like a good day in the market..

Posted by: Anonymous | July 21, 2010 5:55 PM | Report abuse

What we need are the following steps to begin so unemployment will start to ease:

1. Mergers and buyouts must end.

2. Large corporations must be brokenup.

3. Outsourcing must end and jobs already outsourced must be forced back into the US.

There is no other way to create good paying jobs. It will take tough action on behalf of the Congress and I personally don't think they will risk campaign donations to help the nation.

We can have good paychecks and better employment figures, but corporate profits will have to take a backseat to growth in the economy. Corporate profits deter growth.

Posted by: Anonymous | July 21, 2010 5:56 PM | Report abuse

the federal bank must keep economic recovery,growth by economic tools,not monetary tools(rate percent),by push the private sector to real,direct projects and injection more money at direct projects to increase jobs,incomes, real economic growth(www.facebook.com/helmy.elsaid)

Posted by: Anonymous | July 21, 2010 5:56 PM | Report abuse

I see no sustainable economy on the horizon. The ride is over time to revolt

Posted by: Anonymous | July 21, 2010 5:58 PM | Report abuse

the federal bank must keep economic recovery,growth by economic tools,not monetary tools(rate percent),by push the private sector to real,direct projects and injection more money at direct projects to increase jobs,incomes, real economic growth(www.facebook.com/helmy.elsaid)

Posted by: hlmelsaid761 | July 21, 2010 5:59 PM | Report abuse

Bernanke: Outlook is 'uncertain'

That's putting it mildly. Nobody TRUSTS the Obama administration to do anything.
He's incompetent and going in the wrong direction. Businesses vote NO CONFIDENCE in this government. Even the Business leaders that once supported him and were duped, vote NO CONFIDENCE.
America will start real change in November.

Posted by: jblast2000 | July 21, 2010 6:02 PM | Report abuse

We need another Reagan.
He took over after the abysmal Carter administration handed him an even worse economy. The unemployment was 10%, inflation at 13% and the interest rates as high as 20%.
How did he do it so quickly?
TAX CUTS to businesses and CAPITAL GAIN TAX cuts and TAX CUTS for everyone who pays taxes.
WHY DOES THIS WORK
It makes the economic engines of our country, businesses both big and small, ROAR. And when they ROAR, people have jobs and spend money.
It's just too bad that after 2 years he has Democrat congress that declared his budgets DOA and proceeded to spend us into oblivion.

Posted by: jblast2000 | July 21, 2010 6:05 PM | Report abuse

Bernanke is beginning to lay the groundwork for another round of quantitative easing or another stimulus package. Wall Street needs another trillion dollars.

Why should Wall Street work for their money when they can steal it?

Posted by: John991 | July 21, 2010 6:17 PM | Report abuse

What we don't need:

1. Tax cuts. Tax cuts got us into this mess and only serve to increase the deficit.

Bush tax cuts were a failure and now we have 10% permanent unemployment. Plus another 10% that have fallen off the unemployment benefit wagon.

Posted by: Maddogg | July 21, 2010 6:29 PM | Report abuse

Nothing is "Unusually uncertain" about the policies of this administration. Instead it is "absolutely certain" that their job plan is in fatal failure. Why don't you people (dems/libs)open your eyes. America is about to fall in to an abyss because of Obama and Bernake. Wake up America before the government has you, your home, your job and your children in their sweaty palms.

Posted by: Anonymous | July 21, 2010 6:30 PM | Report abuse

Hogwash! The outlook is for the worst DEPRESSION in this nations history. Bernacke and Clinton and Bush and Obama and their look alike economic advisors have outsourced our jobs and factories, free traded our store shelves full of Chinese and Indian and other cheap Asian made junk, and spent us into the poorhouse. End free trade. Bring back trade tariffs and raise them until jobs return or are created HERE. Tax the snot out of offshore investments and enterprises. Either put this country first or get out of the way.

Posted by: mibrooks27 | July 21, 2010 7:00 PM | Report abuse

Anonymous | July 21, 2010 5:56 PM great proposal. There are 2 approaches to antitrust policy.

Approach I

1. Antitrust Division destroys big companies that are innovative and good.

2. Antitrust Division allows big companies that are bad to buy small companies that are innovative and good.

Approach II

1. Antitrust Division breaks up failed big companies that are engaging in risky or illegal or predatory behavior.

2. Antitrust Division forbids big companies buying small successful companies with innovation and new technology.

We have Approach I. The M and A Baggers strike again joining with the Antitrust Swag Baggers.

Posted by: OldAtlantic | July 21, 2010 7:04 PM | Report abuse

The economic outlook is uncertain because for one of the only times in history, the government of the United States is actually assaulting free enterprise. Our Marxist president has put the squeeze on free enterprise, and signalled that innovation is unwanted. That government is the solution to all problems, and that business only produced evil outcomes.

November 2010 and November 2012

One term president. To go down as Jimmy Carter on Socialist steroids.

Posted by: Indpnt1 | July 21, 2010 7:04 PM | Report abuse

Maybe the economy is recovering from where government is sitting but it's not for millions of Americans. Prices on everything keep going up but people aren't getting an increase in pay to compensate. I am a law abiding, tax paying citizen who always exercises her right to vote but I can't afford to take my children on vacation. However, government can afford to do what they wish. I was taught not to ask someone else to do something you're not willing to do. I don't see the government willing to scrape by making ends meet but yet that's exactly what many Americans have to do.

Posted by: bjdust | July 21, 2010 7:11 PM | Report abuse

Ben is not being candid. The outlook is certain.

Posted by: bandcyuk | July 21, 2010 7:15 PM | Report abuse

I feel comforted. I just hope the Greatest Depression, a production of 43 and the infamously failed right-wing fiscal policies of 140 years, ends before I kick the bucket. I don't ever expect to retire in this lifetime.

Posted by: Anonymous | July 21, 2010 7:17 PM | Report abuse

We need to begin mandating cannibalizing of corporate profits and turn them into jobs.

High corporate profits reduce jobs and tax revenue.

Posted by: Maddogg | July 21, 2010 8:02 PM | Report abuse

The tired old, "I inherited" crap.

Inherited? Yes Obama inherited his OWN parties’ irresponsible actions and the incompetent Democrats who controlled FNMA who turned a mortgage program into a welfare program and pressured, backed, profited and signaled for years to others that these loans were OK.
Add to that, the rising energy cost that made the cost of EVERYTHING rise along with it and helped push those tenuous loans off the cliff.
Who blocked ALL new practical energy sources for years? Democrats!
Yes Obama you inherited this crisis from the actions and inaction of your Democrat accomplices who were the Catalyst of this crisis.

Hey Rahm Emanuel, when you were at that Toxic Asset Generator and enabler of this Crisis, FNMA, your pay was calculated at $46,000 per hour. How about giving that back to the Tax payers. And Obama, as a lawyer for ACORN who sued lenders to make those bad loans turned to Toxic Assets, YOU OWE the tax payers big bucks too.

The Democrats have has congress for 4 years and Obama 2 years. They are a train wreck and going in the wrong direction.
Businesses have NO CONFIDENCE in Obama/accomplicies and will not put their money at risk with a community orgainzer with 0 experience in charge.

Posted by: Anonymous | July 21, 2010 8:11 PM | Report abuse

But, Why is Obama Destroying America. If you truly want to know what is going on; Then you will have to accept these things as the TRUTH. Once you understand the following things; All things will be understood. So I tell you Obama is the Anti-Christ, Satan on Earth, Lawless One, or what ever else you want to call this Demonic Figure. His words describe him, He is a False Hope, If you listen to him you will love him. He carries a Bow without an Arrow. He will conquer all through his speech, his false hoods will capture all who sit and listen to him.
2 Thessalonians 2:11-12
11And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.

Posted by: makom | July 21, 2010 8:13 PM | Report abuse

Maybe it would be a good idea for now to stop characterizing the economy as "uncertain."

So now the Fed will buy up T-bills to prevent the real interest rate from rising. Interesting. How long do you suppose they will have to keep buying? The Chinese will be a hard act to follow.

Posted by: fzdybel | July 21, 2010 8:15 PM | Report abuse

Air jordan(1-24)shoes $33

BOOT $50

Nike shox(R4,NZ,OZ,TL1,TL 2,TL3) $35
Handbags(Coach lv fendi d&g) $35
Tshirts (Polo ,ed hardy,lacoste) $16

Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,c oach,gucci,Armaini) $16
New era cap $15

Bikini (Ed hardy,polo) $25

FREE sHIPPING
www.netetrader.com
__________/▓/▓/\\▓\▓▓\\▓▓▓\
_______\/▓▓(▓(@)+)▓▓/▓\▓▓\/\
_______\\▓▓\▓\//▓/▓▓//▓▓\\▓▓/▓\
_____|\_/▓\▓▓!\▓/▓/▓//▓▓▓▓\,▓▓▓\
_____|▓!▓\▓▓▓▓\▓//▓▓▓▓▓▓!▓▓▓/\
_____\▓!▓\▓▓▓▓/▓▓▓▓▓▓▓▓!▓▓▓▓!
_______\▓\▓▓▓/▓▓▓▓▓▓▓▓▓/▓▓/
________\▓\▓▓/▓▓▓▓▓▓▓▓/▓▓▓/
______,,/▓▓▓\\/▓▓▓▓▓▓▓/▓▓▓/
__________\▓\▓▓▓▓▓▓▓/▓▓▓\|
_____________\\▓▓▓▓▓/▓/\
_________________\▓▓/
_________________/▓
_________,,,,,,,,,,,,___▓,,,,,,,,,
________/▓▓/▓▓▓\``|▓▓▓\▓▓\
_______/▓▓/▓▓▓▓__\▓▓▓\▓▓▓\
______!▓▓/▓▓▓▓/___\▓▓▓\▓▓▓!
______\▓▓/▓▓▓/____I▓\▓▓!▓▓/
_______\▓/▓▓/______I▓\▓!▓/
_________\▓/_______I▓_\▓/
__________\/_______I▓_\!
__________________▓

Posted by: Anonymous | July 21, 2010 8:27 PM | Report abuse

Great Depression.

Posted by: blakesouthwood | July 21, 2010 8:28 PM | Report abuse

When are people going to finally get it - liberalized trade deals (aka free trade) have been destroying good jobs for decades.

Idiot free traders call anything other than absolute free trade "protectionism". Stop believing these fools people! Demand fair trade!

Posted by: Anonymous | July 21, 2010 9:04 PM | Report abuse

be assured that whatever they do, jobs will be lost...
for obama the bottom line more important than American's making a living...

Posted by: DwightCollins | July 21, 2010 9:08 PM | Report abuse

Bernanke doesn't know his butthole from a button

Posted by: fleeciewool | July 21, 2010 10:16 PM | Report abuse

She don't love me, she loves my automobile.

Posted by: pressF1 | July 21, 2010 10:17 PM | Report abuse

What should be getting uncertain by now is Bernanke remaining in his job.

He has destroyed the value of the $$, wrecked savers interest income. Handed these gifts to banksters, speculators and deadbeat debtors including the USA.

Its time the banks punch bowl was taken away, rates increased and put the banksters put back to work versus clipping treasury coupons.

Great job Benny. You've created a banking business model that relies on free money, speculation and QE to dump their garbage. What other business pays nothing for what they resell, then charges the vendor/depositor fees on top of the Fed led scam. Banks have now become the most unproductive, low value added, inefficient business' on the planet. That's why they need to get busted and go broke to flush out the moochers.

Posted by: Anonymous | July 21, 2010 10:25 PM | Report abuse

It says a lot about Wall Street's people that the Russian spies in this country posed as one of them and figured they would blend right in. These are, as a group, the worst traitors this country has ever had.

Posted by: mibrooks27 | July 21, 2010 10:28 PM | Report abuse

Solution-

Tax the excess cash corporations are sitting on with a 100% excise tax unless they invest it or pay it out as dividends.

Tax banks 100% for investing in Treasuries. Force them to loan out our money.

These folks will only change when the end of an economic gun barrel is pointed their way.

The Federal Reserve is a one trick pony that needs to go to the glue factory.

Posted by: Anonymous | July 21, 2010 10:32 PM | Report abuse

The only point to be taken here is that Benjamin Bernanke, the most knowledgeable man at this point in time on the US and world economy, says absolutely nothing week in and week out. All the while he warns of further downturns and offers approaches and responses to events which have yet to take place, yet he has never and will never offer surety to the situation and statement of recovery.

Bernanke says many words on a weekly basis without every saying anything. The same goes for the entire Federal government. They claim victory while taking no credit for it and yet warning of the possibility of collapse and chaos, while offering blame upon vague parties abound for things which have yet to take place.

Listen to the thunder...lightning will follow.

Posted by: Anonymous | July 21, 2010 10:41 PM | Report abuse

What should be getting uncertain by now is Bernanke remaining in his job.

He has destroyed the value of the $$, wrecked savers interest income. Handed these gifts to banksters, speculators and deadbeat debtors including the USA.

Its time the banks punch bowl was taken away, rates increased and put the banksters put back to work versus clipping treasury coupons.

Great job Benny. You've created a banking business model that relies on free money, speculation and QE to dump their garbage. What other business pays nothing for what they resell, then charges the vendor/depositor fees on top of the Fed led scam. Banks have now become the most unproductive, low value added, inefficient business' on the planet. That's why they need to get busted and go broke to flush out the moochers.

Posted by: Anonymous
________________________________

Solution-

Tax the excess cash corporations are sitting on with a 100% excise tax unless they invest it or pay it out as dividends.

Tax banks 100% for investing in Treasuries. Force them to loan out our money.

These folks will only change when the end of an economic gun barrel is pointed their way.

The Federal Reserve is a one trick pony that needs to go to the glue factory.

Posted by: Anonymous
_________________________________________

This nonsense is the reason that sensible Americans understand that this nation will never fully recover. Too many divisions have been forged and too many ignorant people have chosen to stand on principle despite the fact that their principles and codes are borne of personal interest and complete ignorance to reality.

Those who understand what is taking place in America are those who now lack political affiliation, party loyalty and the ignorant belief that they are the most important person alive.

Posted by: Anonymous | July 21, 2010 10:51 PM | Report abuse

Japan has been dealing with a similar overvalued assets problem for more than a decade and has found there to be no political will for any quick solution.

Posted by: Anonymous | July 21, 2010 10:54 PM | Report abuse

=============== http://ta.gg/48g ==============
Hello, summer, good place for shopping, fashion, sexy, personality, maturity, from here to begin. Are you ready?
free shipping
competitive price
any size available
accept the paypal


Air jordan(1-24)shoes $33

Nike shox(R4,NZ,OZ,TL1,TL2,TL3) $35

Handbags(Coach lv fendi d&g) $35

Tshirts (ed hardy,lacoste) $16

Jean(True Religion,ed hardy,coogi) $30

Sunglasses(Oakey,coach,gucci,Armaini) $16

New era cap $15

Bikini (Ed hardy) $25

============== http://ta.gg/48g ===============

Posted by: suanlebaoo | July 21, 2010 11:08 PM | Report abuse

America can no longer afford a Foreign Policy of war(s).War only benefits defense contractors that are in bedwith Pentagon officials. Now defense contractors talkabout selling their kill toys to foreign countries becauseof the budget cuts. Go figure. Are they going to sellto Pakistan, Afganistan, Horn of Africa, Iraq...YOU BETCHA. Because they have to create another reasonfor another
war.I think we are in a lot of trouble.Our country is not going to survive allthese self serving drainage systems of fraud-waste-abuse-ear marks-pork belly-special interestsat the expense of the Mass Backbone called the Middle Class.First and foremost I think we need to focus on National self sustaining strategies. We need to generate a kind of fervor of patriotism that 911 did for us...but longer than 24 hours. We need to focus on national survival. Maybe thru a new mindset of what is hip and cool will be a campaign of what will sustain America. I think we should draw in all our resources and have a sweeping game change. 1. We can not afford to be foreign aiders or Imperialists 2. We can not afford to be the world's police 3. We need to strengthen STATE rights for localized grass roots government involvement from all ma & pa's. 4. We need to change campaign finance and elections so ANYONE can run for office that wants to 5. If a student has a straight 3.0 average or higher, they should be able to go to University for free if their major is in high demand like Electrical-Chemical-Materical Science-Nuclear Engineering(s)are for New Energy Innovations. 6. We need to make it abhorrent and shameful loss of face if a politician is self serving their personal agendas 7. We need to stop lobbyist activites and let the voters decide 8. All high school students have to serve 2 years in some public service such as Military or Peace Corp or CCC etc. 9. We are going to have to pull in our suburban sprawl and have localized communities of scale with localized food farms-greenhouses and trade goods. 10. Mass transit is going to have to connect those outlying localized communities thru (pantographed off dense grid) high speed rails into the larger cities. 11. AN ECONOMY BASED ON NEW SUSTAINABLE ENERGY SOURCES instead of Oligarchy Big Oil.12. We need to get the incumbents out of Congress and Senate. Too much of government make decisions outside citizen majority opinion.13. Middle Class pull out of Wall Street. Put your money in small localized FDIC credit unionsand find other ways to create your own 401K.14. 10% tax across the board. Simplify this country's tax evasion schemes down to zilch.STRAIGHT across the board 10% tax....period...end of story.

Posted by: ganttbarb | July 21, 2010 11:25 PM | Report abuse

Enacting the fairtax will cause a huge repatriation of trillions of dollars that actually have value.

Those monies will shore up our banking industry. Companies will spend those investments in order to meet demand for American made products. They will spend that repatriated money on:

1. R&D in order to provide products people want
2. tools in order to make their workers more productive.
3. cover new employee payrolls
4. advertising to reach new markets.

Most countries that export to America, have border adjusted taxes that lower the cost of their exports (by the amount of embedded cost of tax removed), when not sold inside their borders. Those same countries will also tax imports into their countries.


On the other hand, U.S. producers struggle to compete (in domestic and international markets) with foreign products virtually unburdened with embedded of taxes. America's income tax has made free trade policies unfair to its domestic producers.

If America manufacturing is to survive with out corporate welfare (i.e. government subsidizing industries), the U.S. will have to adopt the FairTax.

The FairTax progressively taxes only America's domestic consumption above a families poverty level spending. By taxing consumption of domestic and imported products the same, American manufactures can finally compete fairly in both domestic and international markets.

It is time we stop punishing productivity.

Posted by: Anonymous | July 22, 2010 2:52 PM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company