Ben Bernanke and the collapse of the dollar....

The inevitable collapse of the dollar.
Thanks Bush, Greenspan and Bernanke

Bernanke: There's No Housing Bubble to Go Bust
http://www.washingtonpost.com/wp-dyn/content/article/2005/10/26/AR20051026022...

"The basic prescription for preventing deflation is straightforward, at least in principle: Use monetary and fiscal policy as needed to support aggregate spending, in a manner as nearly consistent as possible with full utilization of economic resources and low and stable inflation. In other words, the best way to get out of trouble is not to get into it in the first place."

"The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers."

"The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers."

"A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily."

Category:

News & Politics

Tags:

• The
• collapse
• dollar
• bubble
• bush
• war
• stupid
• Greenspan
• Bernanke

[SomeBoredGuy94]

thats it im moving to italy

[vidfreak56]

@RoniCMaster Hah ...tradition? So they choose to live this way? ROFL. I dont buy that, as reality proves otherwise. Business simply cant afford to pay people enough money and the infratstructure doesnt exist to allow people affordable housing. Its more cost effective means people are forced to live in cramped quarters because they cant afford to live either in their own space or on their own land. And what do you think will happen when standards rise? Theyre in for a shock.

[RoniCMaster]

@vidfreak56 Well, whatever's the numbers, show the statistics. Living with family is a Chinese tradition. This is common in the countryside and a family of 3 generations under one roof is considered exemplary. As for life in the cities, the reason why many lived in cramped housing is cost opportunity and most who live this way are migrant workers. In Chongqing for instance, migrant workers mostly sleep in cramped housing, packed like sardines, for 1 Yuan/day despite having a pay of 40 Yuan/day.

[vidfreak56]

@RoniCMaster 80 million btw is probably an underprojection...ill bet the number is higher depending on how you define the poverty line. Overpopulation happens when an environment has too many ppl in demand of resources. This is what happens in market places. When jobs are too few...its overpopulated. This is especially true when land is sold. Many chinese have to live with family or in cramped corporate living units. The reason for this is overpopulation.

[RoniCMaster]

@vidfreak56 Considering that the the number of poor and unemployed used to be in the hundreds of millions just 20 years ago, I'd say they've made good progress. I know 80 million sounds like a lot but that's just 0.06% of the population. And I doubt China is anywhere near overpopulated with the continuing urbanization and advancement in food, energy and clean water production. China is still able to provide for its people and for the projected increases in population in the future.

[vidfreak56]

@RoniCMaster Even in a population of 1 billion 80 million people is a lot. And the reason for the unemployment this is overpopulation. Not enough jobs to fill with the number of people...alot of which are old.  One reason poverty results is when you have too many people competing for jobs in specific sectors w/o education to help channel some of those workers to other areas. Too much population for a given environment = overpopulation. Even if that number is small compared to the whole.

[RoniCMaster]

@vidfreak56 80 million in poverty? That's pretty small for a country of 1.3 billion people.

[BudWiser999]

Bernanke should be given his walking papers. And, how about a NON-JEW for once next time?

[BudWiser999]

A national currency backed by NOTHING is worth NOTHING!

[dconjar]

It's happening right now, people! The Fed cut interest rates to zero and the dollar is already dropping like a stone. Just wait til the deleveraging is over...