bushwacked Posted June 14, 2011 Share Posted June 14, 2011 "I fully understand the desire to use the debt limit deadline to force some necessary and difficult fiscal policy adjustments, but the debt limit is the wrong tool for that important job," Bernanke said in a speech to a conference sponsored by the Committee for a Responsible Federal Budget. "While debt-related payments might be met in this scenario, the fact that many other government payments would be delayed could still create serious concerns about the safety of Treasury securities among financial market participants," Bernanke said. http://seattletimes.nwsource.com/html/busi...usbernanke.html Quote Link to comment Share on other sites More sharing options...
TimC Posted June 14, 2011 Share Posted June 14, 2011 Bernanke and Geithner will be viewed as traitors when history is written. Quote Link to comment Share on other sites More sharing options...
Avernus Posted June 14, 2011 Share Posted June 14, 2011 Bernanke hates deflation and QE2 ends at the end of June....QE3 or whatever it will be called will follow by fall at the latest... I mean Bernanke even used the housing market as a barometer to say we were going through a deflationary period when all it was is the beginning of the bubble bursting in the housing market as there was inflation elsewhere.... he needs to stop printing money and we need to take our medicine now....times will not be apocalyptic or on some Mad Max type of level, but they will get worse compared to what we are accustomed to.....and Bushy will likely twist my words in a response when I come back to this thread....and that is the only prediction I make here... Quote Link to comment Share on other sites More sharing options...
Avernus Posted June 14, 2011 Share Posted June 14, 2011 Bernanke and Geithner will be viewed as traitors when history is written. they are viewed as traitors now....time will only add to the numbers who know it.. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted June 15, 2011 Share Posted June 15, 2011 Bernanke hates deflation and QE2 ends at the end of June....QE3 or whatever it will be called will follow by fall at the latest... I mean Bernanke even used the housing market as a barometer to say we were going through a deflationary period when all it was is the beginning of the bubble bursting in the housing market as there was inflation elsewhere.... he needs to stop printing money and we need to take our medicine now....times will not be apocalyptic or on some Mad Max type of level, but they will get worse compared to what we are accustomed to.....and Bushy will likely twist my words in a response when I come back to this thread....and that is the only prediction I make here... Do you really think we'll have QE3? I mean, I know Ben is impervious to inflation but having QE3 might spark civil unrest. Actually, I don't think any more harm can be done. This country's last breath was 1999. Quote Link to comment Share on other sites More sharing options...
evil_gop_liars Posted June 15, 2011 Share Posted June 15, 2011 Quote Link to comment Share on other sites More sharing options...
Avernus Posted June 15, 2011 Share Posted June 15, 2011 Do you really think we'll have QE3? I mean, I know Ben is impervious to inflation but having QE3 might spark civil unrest. Actually, I don't think any more harm can be done. This country's last breath was 1999. given that Bernanke hates deflation I believe this....now I don't think it will be called QE3 because joe public didn't know what quantitative easing meant until we were midway through QE2...I've been saying it will be called something else and a few other people are saying this as well.... we will have civil unrest if there is no printing, which I am okay with, but that won't help in the short-term which is what the goal is.....quarterly earnings and spending.....without more money being circulated, the holidays will be grim and the system would in theory collapse... an injection is already needed and we aren't even officially through QE2 right now....it's frickin stoopid crazy but this is just my take on it...I don't see how the solution will change unless a new monetary system is already lined up to replace the current broke system that we have and in which case there will be no need for another series of printing because people will be happy with whatever change that is offered whether it be more money circulated (because most people don't understand inflation) or a new monetary system....either way, I think the current system is broke and doesn't need fixing because it was broken to begin with... Quote Link to comment Share on other sites More sharing options...
bushwacked Posted June 15, 2011 Author Share Posted June 15, 2011 The funniest thing about delaying the debt ceiling limit, is that it generally pumps up two separate political factions. The end of the world types and Republicans who need to make a statement over substance. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted June 15, 2011 Share Posted June 15, 2011 Imagine if all the Everquest money you've obtained became worthless. Quote Link to comment Share on other sites More sharing options...
Avernus Posted June 15, 2011 Share Posted June 15, 2011 Imagine if all the Everquest money you've obtained became worthless. I just looked up what Everquest is ...is Everquest money sort of like a bitcoin or does it only buy stuff in a game?...if so, I think the everquest money is a little bit more worthless, but both are in the same ballpark though.... Quote Link to comment Share on other sites More sharing options...
Bronco Billy Posted June 15, 2011 Share Posted June 15, 2011 (edited) the Committee for a Responsible Federal Budget Seriously? The Federal government has the balls to have one of these? Here's their idea of responsible: "We're spending $1.5 trillion dollars more than we bring in each year, have done it for 3 years running now, and we need to raise out debt limit by $2 trillion so we can keep doing it". Is that how things work in you household? Edited June 15, 2011 by Bronco Billy Quote Link to comment Share on other sites More sharing options...
TimC Posted June 15, 2011 Share Posted June 15, 2011 The Federal Government should hire nothing but New Jersey white women....so at least something will be in the black. Quote Link to comment Share on other sites More sharing options...
MikesVikes Posted June 15, 2011 Share Posted June 15, 2011 (edited) Do you really think we'll have QE3? I mean, I know Ben is impervious to inflation but having QE3 might spark civil unrest. Actually, I don't think any more harm can be done. This country's last breath was 1999. Nobody can hold their breath for that long. We also survived the Y2K blip. Edited June 15, 2011 by MikesVikes Quote Link to comment Share on other sites More sharing options...
Avernus Posted June 15, 2011 Share Posted June 15, 2011 Seriously? The Federal government has the balls to have one of these? Here's their idea of responsible: "We're spending $1.5 trillion dollars more than we bring in each year, have done it for 3 years running now, and we need to raise out debt limit by $2 trillion so we can keep doing it". Is that how things work in you household? again, it seems as if this is being done by design....call me a or whatever, but it has to be done by design like this because there is no way this sounds like a good idea....unless someone wants this system to fail... Quote Link to comment Share on other sites More sharing options...
Avernus Posted June 15, 2011 Share Posted June 15, 2011 Nobody can hold their breath for that long. We also survived the Y2K blip. the Y2K blip was a crap fear mongering tactic....when that was the threat, I looked at it like I did the recent threat of the world ending with on of these... Quote Link to comment Share on other sites More sharing options...
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