printFederal Reserve chief Ben Bernanke “urged Asian leaders to build better pension systems and to increase government spending and the Obama administration to address the U.S. budget deficit,” reports the Wall Street Journal.
The audacity did not stop there. The “rebalancing of global growth,” as Bernanke put it, could not be achieved if the Chinese persisted in their errant practices:
“Trade surpluses achieved through policies that artificially enhance incentives for domestic saving and the production of export goods distort the mix of domestic industries and the allocation of resources,” and yield “an economy that is less able to meet the needs of its own citizens in the longer term.”
This from the man who, together with his predecessor, is responsible for distorting production and consumption in the largest economy in the world.
World leaders are coming to “a growing consensus … on the need to rebalance global economic growth so it depends less on U.S. consumers.”
Besides, who made Bernanke the crime boss of the world?
“the Obama administration to address the U.S. budget deficit,”
I wonder when Barry is going to address that little problem LOLLL !!!!!!!
Hey Bernanke, is it possible that government backed, systematic violation of “Thou shall not bear false witness” and “Thou shall not steal” could be the problem? Or how about this one:
“You shall have just balances, just weights, a just ephah, and a just hin; I am the LORD your God, who brought you out from the land of Egypt.” Leviticus 19:36
Is it also possible that recessions and depressions oppress the poor?
Here is an interesting article from Sunday’s NY Times:
http://www.nytimes.com/2009/10/18/magazine/18FOB-wwln-t.html
Who knows what’s going on with the economy? Certainly not the leftist yutzes who are running the country. Not even they can be as stupid as they seem to be. It almost looks as if they’re trying to screw it up on purpose. Maybe to achieve that exploitable crisis they seem to covet.
[If you read this space, you know that thinkers from the Austrian school of economics know, understand, and regularly predict exactly what’s “going on with the economy.”]
Emperor Obama is continuing Bush’s Ownership Society by forcing Americans to inflate home prices and subsidize houses for those who cannot afford them – via, as usual, inflation and taxation ” New Gov’t Plan Aims to Help Poor Borrowers”:
http://www.cbsnews.com/stories/2009/…/main5397427.shtml
“This initiative is critical to helping working families maintain access to affordable rental housing and homeownership in tough economic times,” Treasury Secretary Timothy Geithner said. “Through this initiative, the administration aims to help (the housing finance agencies) jump-start new lending to borrowers who might not otherwise be served and to better support the financing costs of their current programs – key components in stabilizing the housing market overall.”
Needless to say, GlobalEconomic Czar Ben Hanky-Panky-Bernanke and his Goldman-Sachs banksters will be in on this fraud.
Aside than being unconstitutional, fraudulent, inflationary, and immoral (theft from A to B), this is a great idea. As the late Huey Long said, ” Ev’ry man a King, ev’ry man a King For you can be a millionaire” – Governor Share The Wealth and his song is featured in this 1:15 minute Youtube:
http://www.youtube.com/watch?v=S8elIlcrNf0
That and 800,000,000,000,000,000,000 $$$$Mugabes$$$$ will buy you a loaf of bread!
And Bernanke wants China to imitate US!!
(Bernanke to China:) “You produce too much and save too much, and your government doesn’t deficit spend enough. Stop it.”
LOL!
The Big Lie has never been so absurd. How can he say these things with a straight face?
Global economic growth depends on consumers? Somehow, I had acquired the notion that economic growth depends on producers. Silly me! I like the new paradigm much better. I can consume with the best of them, and would happily stimulate the bejesus out of the global economy, provided that no one expects me to pay for the stuff I’m consuming.
There once was a banker Bernanke
well versed in all Fed hanky-panky.
He tried many things rotten
with linen and cotton
but ended up
with nary a “thank-ye.”
There once was a banker Greenspan
who sat at the feet of Ms. Rand.
Her ideas seemed fine
for just the right time,
but till then honest banking be damned.
There was once a country misled
by a banker con know as the Fed.
It stole by inflation
and ruined a great nation.
Now many of us wish it quite dead.
Myron, I kinda like Huey. Thanks for the link!
Bankers, repent! I am all for free enterprise but you ain’t it!
M. B. – thanks for the limericks. Let us all head to the inflationary gallows with a good laugh.
“It is the same trade-off — spending now or saving for later? — that the private sector thoroughly botched.” So ends the NYT article Myron referenced. My wife and I saved for years, watching what we bought and/or used. When I retired, we had our savings to help; at least so we thought. Now through Washington’s meddling with Fanny and Freddie, our stocks crashed, lost about thirty percent, Then the wonderful friends of the working class, created at least two trillion more “stimulus dollars” which then dropped the value of what savings we had left to less than half its buying power. Now since the IRA is approaching maturity (Time wise, not money wise) we have to draw it out and pay taxes on what little is left. My brother-in-law instead enjoys payday to payday and we are rapidly coming to his same financial status, except he has fond memories of the fun he used his money for. Please tell me again how we in the private sector thoroughly botched savings.
[You are absolutely right that the traitor class penalizes prudent behavior such as saving.]