Bernanke says spurring credit key to rebound

The Fed faces a quandary in dealing with a flagging recovery. It has already lowered interest rates to near zero and pumped more than $1 trillion of credit into the financial system to stimulate growth.

Well gee whiz folks, we keep pumping debt err...i mean credit into the system....For the life of us we just cannot figure out why we aren't getting out of debt!?!

Do they really think the people are so stupid they believe this garbage?
Sad part is, by and large....they are.
Do people not realize just what an admission this is?
It begins to seem more and more to the casual observer to be an orchestrated collapse...

Source

extending credit (if you can get it) will do absolutely
nothing to spur the economy except put more
debt on the heads of Americans.

We need jobs !!! NOT credit !!!!

Maybe we should be speaking with the Dept.
of Labor instead. Kill NAFTA and ALL free trade
agreements. That's the real problem solver.
Americans cannot compete with a 3rd world
work force who works for a bowl of rice a day.
The only thing free trade does .....
is make us work for a bowl of rice a day.

America needs to be a producer of goods.
We need to make products here in the US
not outsource.

Make products
Enhance services
No outsourcing
Stop free trade
Add tariffs to imports
Balance the budget
Stop borrowing money we don't have
Stop printing money we don't need
Audit the Fed
Audit Wall Street
and make these people accountable
for their crimes and schemes.

and America can recover.
It's not that hard.

Sure it may pi$$ some people off
but Americas are the only ones who look
out for Americans.

reply to post by boondock-saint


Precisely! Jobs come from new and existing business, which come from capital, and capital does not grow on trees, nor can it be artificially produced on demand contrary to what Mr. Bernanke, and Mr. Greenspan believes.

True Capital comes from personal savings, which can only grow with minimal taxes, minimal inflation, and a mind that dares to dream..

reply to post by blood0fheroes


WOW!!! I am so glad to see these responses!

Why does MSM, Govt, and mainstream America think that it requires credit to start anything? That is the worst way to start a business!! Encumber a fledgling business with a giant overhead and then pray that it works? File Bankruptcy if it fails? Then do it all over again?

How about work, perfect your idea while saving. Maybe find some partners or investors with experience in business, and then put out a good product? Isn't that how we did it for millenia before the invention of the Fed?

Originally posted by boondock-saint


We need jobs !!! NOT credit !!!!



Make products
Enhance services
No outsourcing
Stop free trade
Add tariffs to imports
Balance the budget
Stop borrowing money we don't have
Stop printing money we don't need
Audit the Fed
Audit Wall Street
and make these people accountable
for their crimes and schemes.

and America can recover.
It's not that hard.

Sure it may pi$$ some people off
but Americas are the only ones who look
out for Americans.

jobs and industry should be treated as Strategic assets and a national resource(s)

Corporations however, especially the diabolical managment elites should be considered Anathema to the Democratic Republic of the USA...
traitorous sociopaths that have nothing but ill-will for the workers and the nation as a whole... they are committed Globalists with no alligence to America or nationality, their gods are power and wealth/mammom...

those with proven track records of economic terrorism, debasement of the American Strategic workforce must be stripped of the ill gotten gains, ostracised, given tutorials on on how negative is the practice of vulture capitalism, then sent for 30 mandatory years to an Arctic Gulag, having 24/7 speaches by Ms Palin broadcast into their squalid dwellings

[edit on 12-7-2010 by St Udio]

This country needs a RACI Chart

Bernake is Chariman of the Fed.

The Fed is a bank.

The US is the Fed's only customer.

The fed makes money off of the interest paid on the loans it issues.

Currency is printed off of the loan approval.

It is in the Fed's best interest, as a corporation, to have the US take more loans and continue to push credit and debt.

The American citizen needs to boycott he Fed like we would any other monopoly that does not serve us well.

The Fed Res has kept the interest at 0 for the banks, BUT, the banks haven't lowered their interest rates to help stimulate the economy.

What i'm ticked off about is that there has no, as in nada, talk from the government or the press about reinstating the 10% usury law. This is was got the ball rolling for the banks to have obscene profits.

The banks have too much control over our politicians, there will be no relief for us.

reply to post by blood0fheroes


Yeah. The credit is what makes them money, or fake money however you want to look at it. They do not give a damn about the economy or industry or peoples lives. They do, however, want to continue picking the carcass clean with their fraudulent financial schemes. This just happens to be an extremely bold admission in that direction.

...Kick ass avatar by the way

Burrowing (credit) one's way out of a crisis is not a permanent solution. More so if the super rich continues to hoard their obscene sums of money hidden away. Bernake can print all the notes it wants and devalue even the reserve currency dollar further.

But as it is the reserve currency, where every nation holds it, if affects no one's savings as they too simply follow the dollar's downward spiral. The ones who are affected will be those who need raw resources, and it will be further inflated, costs passed on to the consumers till everyone starves.

The problem is NOT the Feds, but sadly, our obscene mega rich. Together, they hold zillions of dollars, uncirculated. They may claim such money is non existant, not liquid cash but tied to assets.

Figure this-they are rich because of their biz acumen. For ever dollar they put in assets, they expect $10 in return. Thus their money will always be exponential.

Thing is, does a human needs that obscene amounts to survive? More so when there are billions starving today and more soon to starve while these rich waddle and swim in trillions?

I am not calling for their heads or rob them of their wealth. The time has come for them to be awakened off their selfish money grabbing greedy ways and share their wealth - not by charity or loose pocket change, but social developement on their own countrymen such Europe, US and espacially corrupt China.

$30million per person oughta be enough to last one and his next few generations. $10 million for spending and $20 million in a trust fund generating compound interest.

Some will say that amount is not enough, but does one needs caviar daily and a shiny convertible every 6mths while their own fellow human and countrymen are starving?

They do deserve their wealth and hard work ( more like thanks to his workers), and everyone should aspire towards the magical $30 million figure.

None will stop work and live on handouts, as that dream will keep all on their toes to reach it and is within reach. Those who made it will then retire, and others will take over their place with newer and better ideas.

There will no longer be a pyramidial single seat at the top, but a chance every human will get to occupy based upon his merits.

Any amount, espacially before such a scheme is implemented, should be released and redistributed back to the People.

The govt plays a role to, and must implement social developement schemes to elevate the lives of the People so that none gets left behind, in education or in the economic field so long as one is prepare to sweat it out with honest labour.

There must be no more spending on the military. A trillion dollars and precious lives lost on both sides, yet the war on terror had not been won.

A mere $5million gift to a whistleblower helped nabbed a terror kingpin in Indonesia. What does that tells you on the more effective actions on 'war on terror'? Trillion dollars to feed thousands of soldiers not doing productive labour, only to sacrifice their lives and to buy weapons of hate.

Nope. The military industrial complex seeks to wage wars to justify their priviledged existance using tax payers fund.

I do not call for the disbandment of the military industrial complex, for it does has it uses. If a trillion dollars are to be used, it would have been better spent if we were to research and colonise habitable planets, with the military to secure the locations.

If a planet is as habitable as Earth, it will be filled by lifeforms. Make no mistake that it will be a paradise. There will be lifeforms that are docile, as well as those that will harm human life with no negotiations such as animals.

It is such animals that will make the military necessary to protect humans. We kill only those that seek to harm us and let live those that let us live.

We humans could have a better future if our directions are right, if not, at least for the necessary. To continue on as it is without change will only doom ourselves.

Bernake had only touch on the superficial level of a more critical underlaying issue. That change must not only come from ourselves, but espacially must come from our rich and powerful. They too, no matter what they had done, are fellow humans too, made of flesh and given the gift of life and love.....

...because this has worked well so far. Trust no one who tells you this stuff. This is just another attempt to squeeze more of the money and life out of this country. Is this where they think loans to businesses will stimulate jobs?

Well wasn't that the brilliant plan in the bank bailouts too? Give them the money with the proviso they extend more credit? How'd that work out for you? They extended more bonuses is what they did.

Originally posted by St Udio
ostracized, given tutorials on on how negative is the practice of vulture capitalism, then sent for 30 mandatory years to an Arctic Gulag, having 24/7 speeches by Ms Palin broadcast into their squalid dwellings

LMFAO

OMG

I laughed so hard
I wet myself

I'm gonna send u the
dry cleaning bill !!!!

that Palin Pun was priceless !!!

reply to post by SeekerofTruth101


man, what I would do with $30M !!!!

I'd own 3-4 local businesses and put
local people to work and make products
here. I'd have 2-3 farms growing some of
the best non-GMO food you can get.
I would make interest free loans to locals
to start their own business. With $30M,
I could change my lil part of the world

Where do I sign up for that program ????

See? Now THIS is what happened as a result of the "stimulus?"Less money went to small businesses than before?

CNNMoney.com (NEW YORK) -- In the last two years, $40 billion worth of loans to small businesses have evaporated, and correcting the problem should be "front and center among our current policy challenges," Ben Bernanke, chairman of the Federal Reserve, said in a speech Monday.

Loans to small businesses dropped from more than $710 billion in the second quarter of 2008 to less than $670 billion in the first quarter of 2010, according to bank financial reports submitted to the Federal Financial Institutions Examination Council. Source

And how is this statement by him related to this storyL House votes for $30B small business lending fund

Another bailout of sorts? They are so confusing me.

reply to post by boondock-saint

Geez...you could have put all that in my thread yesterday as ideas! Now I see how you are...all about the $$$ lol

None of the money has been used in a productive way and been spent down at the casino with a few kick backs to politicians for letting them have the money in the first place.

it's a bit like giving sweets to the play ground bully, he's be back for more next week.

More debt was never the solution to debt but it's out of the control of the man on the street untill they get up and take control back.