I heard some Democrat official telling Bernanke that he simply has to do some monetary easing again BEFORE the election.
But Bernanke told him that no QE3 of any kind would help IF Dems keep us heading toward the ”financial cliff.”
That would be just like a politician, Nan. Demand an action by someone in order to not look quite so bad until the election passes, and after that, who cares?
Mike O'Malley
12 years ago
The worse economic recovery in American history took place during the 1930s. Two generations of economist have demonstration that theUSA should have emerged from the Great Depression in 1935. It would have doon so if not for FDR. FDR’s domestic malpractice extended the Great Depression from 1935 to 1943, around eight years.
Liberal1 (objectivity)
12 years ago
@Mike O’Malley: I think that’s probably an overstatement: By “…two generations of economists have demonstration that the USA should have emerged from the Great Depression in 1935….”, do you mean that ‘all’ economists agree with that statement, and that ‘should’ is an accurate scientific term, and that they all would agree that the delay in recovery was because of FDR’s ‘malpractice’?
This sounds like conservative talking points, instead of statements of fact (like it seem to be purported as)—there is a difference, you know.
ThunderGod
12 years ago
@Nan G
That would be upChuck Schemer of NYC.
@Lib1 {Larry}
Those would actually be an historically accurate set of facts. That the New Deal extended the Depression is only disputed by the most rabid Democrats and FDR-worshipping Leftists. Everyone else recognizes that the contemporary critics of FDRs economic plans were dead-on accurate with their criticisms. It’s all in the record. But, you’d need to have a truly open mind before you could accept said facts. And, as you have shown multiple times, that “{objectivity}” after your nick is a bald-faced lie.
Nan G
12 years ago
Thanks Thunder God.
Now for the really bad news.
Obama wants to DIVERT attention to ”anything-but-the-economy.”
We all know that.
So, usually the media plays up economic numbers.
All of a sudden they are barely reporting on them.
For instance 9 bad economic news items hit Obama between the eyes this week.
How are they being covered?
1. Weekly jobless claims shot up to 386,000.
But only 385 news sources carried this according to a Google search!
(Compare that with Brad Pitt’s mom’s 11,000 stories!)
2. Foreclosures are hitting our most vulnerable citizens.
Only 389 news items!
(Compare that with Michele Bachman’s 791 stories about Huma Weiner)
3. Factory activity contracted for a second month in a row.
ONLY 105 news stories!
(CA’s high speed rail bill got rammed through at got 21,200 stories.)
4. Home sales dropped a whopping 5.4% — the biggest drop in nine months.
A mere 377 items.
(Over 400 articles telling men testing for prostate cancer is of little use.)
5. Retail sales dropped for the third straight month.
912 stories.
6. Consumer confidence dipped to 84.7.
9 stories!!!!
(Catherine Venusto gets 367 stories about her hacking into a school computer to up her son’s grades!)
7. U.S. business inventories increased by .3%…
182 stories covered it.
8. Food prices are skyrocketing.
1989 stories but some are about worldwide impacts.
(The USDA approved another obesity drug and we got 36,100 stories about it.)
9. More Americans are getting federal disability than jobs.
16 stories.
(Chick-Fil-A made a stand on gay marriage. 623 stories)
See a pattern?
The media makes or breaks a story simply by over or under covering it.
Obama probably thinks he is safe because of this.
His is not.
Everybody FEELS the impact of these things even without headlines to tell them to.
I heard some Democrat official telling Bernanke that he simply has to do some monetary easing again BEFORE the election.
But Bernanke told him that no QE3 of any kind would help IF Dems keep us heading toward the ”financial cliff.”
@Nan G:
That would be just like a politician, Nan. Demand an action by someone in order to not look quite so bad until the election passes, and after that, who cares?
The worse economic recovery in American history took place during the 1930s. Two generations of economist have demonstration that theUSA should have emerged from the Great Depression in 1935. It would have doon so if not for FDR. FDR’s domestic malpractice extended the Great Depression from 1935 to 1943, around eight years.
@Mike O’Malley: I think that’s probably an overstatement: By “…two generations of economists have demonstration that the USA should have emerged from the Great Depression in 1935….”, do you mean that ‘all’ economists agree with that statement, and that ‘should’ is an accurate scientific term, and that they all would agree that the delay in recovery was because of FDR’s ‘malpractice’?
This sounds like conservative talking points, instead of statements of fact (like it seem to be purported as)—there is a difference, you know.
@Nan G
That would be upChuck Schemer of NYC.
@Lib1 {Larry}
Those would actually be an historically accurate set of facts. That the New Deal extended the Depression is only disputed by the most rabid Democrats and FDR-worshipping Leftists. Everyone else recognizes that the contemporary critics of FDRs economic plans were dead-on accurate with their criticisms. It’s all in the record. But, you’d need to have a truly open mind before you could accept said facts. And, as you have shown multiple times, that “{objectivity}” after your nick is a bald-faced lie.
Thanks Thunder God.
Now for the really bad news.
Obama wants to DIVERT attention to ”anything-but-the-economy.”
We all know that.
So, usually the media plays up economic numbers.
All of a sudden they are barely reporting on them.
For instance 9 bad economic news items hit Obama between the eyes this week.
How are they being covered?
1. Weekly jobless claims shot up to 386,000.
But only 385 news sources carried this according to a Google search!
(Compare that with Brad Pitt’s mom’s 11,000 stories!)
2. Foreclosures are hitting our most vulnerable citizens.
Only 389 news items!
(Compare that with Michele Bachman’s 791 stories about Huma Weiner)
3. Factory activity contracted for a second month in a row.
ONLY 105 news stories!
(CA’s high speed rail bill got rammed through at got 21,200 stories.)
4. Home sales dropped a whopping 5.4% — the biggest drop in nine months.
A mere 377 items.
(Over 400 articles telling men testing for prostate cancer is of little use.)
5. Retail sales dropped for the third straight month.
912 stories.
6. Consumer confidence dipped to 84.7.
9 stories!!!!
(Catherine Venusto gets 367 stories about her hacking into a school computer to up her son’s grades!)
7. U.S. business inventories increased by .3%…
182 stories covered it.
8. Food prices are skyrocketing.
1989 stories but some are about worldwide impacts.
(The USDA approved another obesity drug and we got 36,100 stories about it.)
9. More Americans are getting federal disability than jobs.
16 stories.
(Chick-Fil-A made a stand on gay marriage. 623 stories)
See a pattern?
The media makes or breaks a story simply by over or under covering it.
Obama probably thinks he is safe because of this.
His is not.
Everybody FEELS the impact of these things even without headlines to tell them to.