“Do you think that a 2nd term for Bernanke is the best move for the country?”
Bernanke's term is set to expire on January 31, 2010, however Obama has reappointed Bernanke for a second term. Is this the right move for the United States of America? Just leave a comment stating if you think a 2nd Bernanke term is the right move or not. Feel free to simply leave yes or no in the comment area of this post, or leave a detailed comment, but remember - no profanity or hate words. ONE-COMMENT PER PERSON OR YOU WILL BE REMOVED FROM THE CONTEST.
Prize (as seen in the picture)
Winner will receive...
MarketClub Hat, MarketClub Zip Drive & 1 Complimentary Month of MarketClub
*Shirt, nor Melissa is included in the gift pack.
How To Enter:
Comment on this post telling us your thoughts about Burnanke's reappointment. Add a little bit of commentary or opinion if you would like to... just keep it clean and remember that there is only one entry per person.
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Rules
1. This contest is open until 11:59 PM (Eastern) on September 30th, 2009.
2. No wrong answers. Any participation counts as an entry.
3. One entry per email address.
4. Winner will be picked by random integer software.
5. Winner will be contacted on Thursday, October 1st, 2009 via email.
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Good luck!
Yes, because I don't know who else would be appointed.
Yes, I think that overall he did a good job.
No.
This is all part and parcel of the "great plan" to lead the American public, who got caugth up in the "change" movement, down the road to ruin/redistribution of wealth. A great well planned "cover up" with all the players in place i.e. Burnanke as a key player.
"America is the greatest country on earth and I promise to CHANGE it"
I hope that all Americans remember those words as we pick our leaders in the future!
Good Move!
When the congress asked Bernanke if the Fed was opting to use another currency besides the dollar, he turned away from the camera and said NO! Well, I was taught that if you could not look at some one straight on when talking or answering a question, then you are probably lying. Since then we have been diluting our currency at a record pace to the point where it will no longer be worth anything. The only thing I can see the Fed Chair doing well is pushing all of us to a one world currency which inevitably lead to a one world governance system. Change you can believe in.......
No.
NO! And I am happy that the congress is pressing the Fed to reveal the convoluted path their money (borrowed from US taxpayer) takes. Never to be repaid.
It may be good for the Banker's but I am not sure if the move helps the Economy and the country in any manner. The damage has been already done and continues to be exacerbated by the greatest expansion of Government programs in the history of world economics.
check out Marc Faber's commentary on CNBC as to where the economic situation is actually going...
ala Bernanke and company....
buy gold....
Yes. While I disagree with his initial premises and his subsequent acts, changing direction now would be dangerous for the country. I son't like the crises for the economy, but that will not deter me from making a profit.
I'm afraid of anyone new. Keep Burnanke.
Obama had no choice but reappoint the person that was instrumental in all the programs. Mostly a political decision with no significan implications. The country as a whole has to come together in order to dig ourselves out of the mess caused by the greed of a few and the irresponsibility of many.
Who is a better choice?
Well we are not out of the woods yet. And although I don't really care for how Burnanke as opterated, he has stablized things. And to maintain market stability Burnanke needed to be recomfirmed.
So now we need waite and see how the 2 half of the games plays out.
History will reflect weather Burnanke did/does the right thing.
Who?
the jury is out, but i dread to think how many additional trillions need to be printed if(more likely when) the commercial real estate bubble pops. in the mean time it is clear that the recepients of the financial bailouts are really helping themselves and not the public at large(witness huge bonuses)... so for the nation we need a firmer hand that will help the vicious slide in to the unflation spiral
It was a good move, no doubts about it. Changing the chairman would bring instability and we don't need that in such tough times. We can't deny that he belongs to the team that overlooked " the bill " and we are in a deep mess right now but TODAY he works for a new administration and so far is doing a good job "STOPPING THE BLEEDING" and that's all they can do anyway. It will be a long way to recovery, we need to adapt to a new reality, don't spend OPM (others people money) it's unreal, we will have to pay for it, doesn't matter what.
Good move I thik that the economy is too iffy to make big changes
Bernanke was not the best choice when picked. Obama, Geitner and Bernake continue to show their disregard for capitlism by monetiaing our debt. An audit of the Federal Researve and the Treasury MUST take place so we can begin to realize the extent of our debt and begin the process of restoring the "greenback".
I think thus is a good move at this time. We do not need a change at this time.
Doesn't matter at all as the world defacto trends whereby the Asians will not take American dollars in exchange should be a wake up to this continent.
NO I don't should have a second term, he has already had one too many!
Reappointing Bernanke is a very bad move. Anyone and everyone who had anything to do with repeal of the Glass-Steagall Act including Bernake who has played the stooge on the back-end, dishing out tax payer money to all the "failed" financial institutions that this repeal staged up... all of them should be in jail. The Fed should be audited and exposed and most of Congress should be replaced (Democrats and Republicans). You can't solve today's crisis with the same people who were responsible for authoring it yesterday.
the guy has a degree, ph.d, professorship or whatever in printing money and the helicopter he is dropping the monopoly money fresh off the 24/7 printing press (literally 23.4 trillion and that number is from 2 months ago) is landing on the very same people/banksters who caused this problem to begin with.
ESPECIALLY greenSCAM and himself!
this all started with the repeal of the Glass-Steagell act of 1933 and the artificially low interest rates and lose money since greenSPAM.
not only no, HELL NO!
do what Jim Rogers has already done, dump all your dollar denominated assets and buy gold!
the chinese are in the process of doing this, why not you and I?
it would be foolish to swap horses in the middle of this stream...the whole world is going along with him.
it is a good move for the country for now,because he knows what has been going on behind close doors.
Good move
Yes, considering the impact of not reappointing Bernake at this time, there was really no choice. Although I fear the result of the "new Keynsian approach" I know no one or approach better.
Jim
Hmmmm. Neither keeping nor replacing the captain of the Titanic after it has already stricken an iceberg will spare the Titanic from its inevitable, inexorable sinking.
Replacing the entire Congressionally-unsactioned Federal Reserve System, its offshore corporate owners in London and Paris, and its fakir Federal Reserve Notes with a legal, national currency backed by a silver and gold standard WOULD be good for the United States of America, our democracy, our economy, and the moral welfare of this formerly great nation.
Anything less is just business as usual since 1913.
<<>>>>>
Thanks Dave,
Well said.
Am afraid the Titanic will have to sink beyond salvage before they remove their blood sucking tentacles and the comatose populace wakes up. After it's too late of course... Then historians will describe what has really happened to US of A, after it is too late of course... (The descriptions of the historians will no doubt be in the language of their native tongues, Chinese most likely...)
Off gold standard means onto cheating standard... inflation, manipulation. But of course Mr. Bernanke and company will be able to make the necessary moves when the time comes.... Please, the system itself is the problem!!!!!!!!!
All aboard!!!
Yes. Try to keep an even keel.
Haven't heard of this guy. Guess I'm not that close to the action. But since he's in the Obama camp, it's cause for concern.
I am very displeased with Bernanke and Geisthner - so much for change you can believe in!!!
Yes Unless there going to bring back Greenspan
Reappointing Bernanke is a verry best move. In my opinion is the best move president Obama could take it for the stock market. Because of him we had the bailout and big financial groups like AIG avoid the disaster. Ben Bernanke succed to avoid a bigger depression than it was in 1929
No. I believe a new blood may bring new ideas to improve the situation.
He's likely to be the Fed chairman preside over the 2nd Great Depression if not the Greatest Depression...
YES! Horses for courses
ya i agrried because he knows all about those conditions which are responsible for the down turn of US . so he knows more than a new appointee . the dissision is quite good
what can be done? If a lie is told then so many more lies have to be told to cover up the first one. The financial system is infested with liars and cheats. Money tends to draw out the worst in human nature, people will kill their own parents for their money, wives will kill husbands, who can deny there is no history like this?
The financial system is a nest of crooks.
Everyone wants more than their fair share. More and more and more...
Haven't we just seen the huge exposure of this just recently, vis a vis the credit crisis?
So Mr. Bernanke (or someone as Fed chairman) is supposed to be able to keep all of this in check?
Any one person is supposed to keep all of this in check?
He is a pawn at best.
And for his efforts he will be criticized. Why he would even want to be Fed chairman is a puzzle. Maybe he thinks he can do something to fix things. Look out below!!! Talk about a hot seat!!
The real problem lies in human nature. Just like health care crisis. The fact is Americans are overindulging. For example obesity problem, eating the wrong unhealthy foods, and too much of them.... So what health care will do?
So patch work financial solutions, what they will do? the problem is in the consciousness of the people. Over-indulgent, not just with eating, but with everything...more more more...
So put someone up on the platform, Bernanke or someone, and then blame them for everything....
Meanwhile, overindulgence at the grassroots level is the lie.....But we will cover that up with so many more lies because we do not want to stop more and more and more ....But guess what, more and more and more will be stopped.............. Maybe we will not like how it is stopped, but it will be stopped if we do not see how to make the needed changes ourselves. The other side of the pendulum about to swing, less and less and less.... Reverting back to the mean is nature's law...
As traders we know this all too well.....
Bad move to reappoint Bernanke. When the economy started to run into trouble in July 2007, instead of signaling the Fed needed to drop rates, he roiled the markets by stating one day the Fed would not react. Markets dropped like a rock. Then he came out the next day and said the Fed would act to reduce rates. Markets way back up. A whipsaw that probably cost of lot of people a lot of money. Not that the Fed's responsibility is to pamper market participants, but the market (and just about everybody else except the Fed and Bernanke) knew rates were going to have to go down if the economy had any chance of surviving. His latest stance on the power of the Fed is symptomatic of a large ego (just as his failure to act proactively instead of reactionary to the economy). Big egos lead to big mistakes. If the economy turns, it won't because Ben Bernanke did the right thing at the right time.
Cudos to Mr. Bernanke's appointment. His monetary policy although somewhat tardy in it's initiation has saved us thus far from armagedon!
Why, is there somebody out there better? Who?
No, it was a bad idea.
The devil you know is always better than the devil you dont. What the world need at this time is stability and consistency with policies. Bernanke is persuing the Presidents policies.
Any head of the Federal Reserve will continue the party for his friends and colleagues and the disasters for the rest of us or US!
The Fed was (supposedly) placed there to prevent such things as the 1907 recession and so far it has created the 2 largest/worst depressions in history, 1929 and 2008. This depression will probably be over in a dozen years or so depending on when the start date is computed.
I think it is a political move that will come back to haunt the president. Ben will muddle along and hopefully keep his mouth closed until he decides that it would be smart to get out.
The white house will "advise" him to leave and then he can be blamed for all the "mistakes" he made so that the president could look good.
I am a Libertarian and think we could do without 90% of the 'help' we get from the federal and state governments.
Fire them all and take away the pensions and benefits they gave themselves. If they feel they need a raise let them ask for it when they are running for office.
Yes.
YES. Go back and study the '29 crash and what followed. Roosevelt's New Deal started to catch on (see '34 figures) but faltered and failed due to--yes, what Bernanke noticed--lack of money liquidity in the marketplace to boost it forward. Result: another meltdown.
I'm not sure there is any other way to handle the situation, and even the present approach may lead to another meltdown. The world is twisting around more than we think.
The multiple wars and the rest of sorry Republican debacle have made sure that we won't much longer be the greatest economic country in the world--that is, unless the Obama/Bernanke moves somehow manage to bring us back into balan ce.
Please pass the Kool-Aid
yes, yes I do...
This is not an easy decision particularly because the stakes are so high. The answer to our problem is not resident in one person. I take it that Ben along with other economic advisors discuss and formulate policy decisions.
I would not change Ben in midstream, but hopefully the governors of the Fed districts have a say on the issues and can make meaningful contributions for the well being of our country.
If his is the only voice then we are in trouble.We must have enough experienced and bright minds to collectively guide us.
NO this is not a good move.
If America wants more dept, China dumping more of the dollar then it is a good choice 🙂
Yes, Bernanke was absolutely the right pick, believe me! First of all, I have seen this man in a bathing suit, and he is in FABULOUS shape! Oh, I know what you are thinking, but, no, I'm not gay; I'm bipartisan!
The point is this: this country has gone to Hell-in-a-handbasket and anyone with half a brain should know that. Thankfully, most of the people in this country have LESS than half a brain, so we need someone out there who really looks like he knows what he's talking about, so we can convince everyone that all of these fiscal policies actually make sense! That way, we can all continue with our profligate spending and enjoy ourselves while we're here on this planet, and pretty soon, we'll all be dead, so who cares anymore! Right? Oh, sure, I love my kids, but let them figure out what to do; they'll come up with something! Hey, we did! We came up with "deficit spending"! How awesome is that? "Hey, I owe you a couple of hundred Billion? Well, there's only one thing to do...lend me some more, will ya?" I'm certainly not gonna sit around here and ruin my life worrying what may or may not happen in the future! Maybe our kids will all get together and hire a couple of thousand lawyers and declare a "Mass Bankruptcy"...wipe the slate clean! Hey, everybody else does it! That's why we need Bernanke: the guy just looks like he knows what he's talking about! And, he looks FABULOUS in a bathing suit....
Yes,let's keep Ben! When all his magic tricks and "Don't Ask, Don't Tell" misdirection with the bankrupt banks fails we will want someone to HANG! Might as well hang the right guy!
The fed should be disbanded fire every one
No, not the best move but do we have any better alternatives?
Yes! good move for the US and the global economics as well.
I personally don't think Bernanke's reappointment matters that much to the US economy as a whole. The economy is not driven by one person but an aggregate of all people in the country and the social mood and psychology. The US economy is in a down trend right now, going into a depression and it doesn't matter if Bernanke is reappointment or not. It will be better if he declines because now he can end his term on a high note.
I have mixed thoughts on Mr. B. But, I think I'll come down on the side of "NO", it's not a good move. These days, I think he's doing all that can be done to to get us out of this economic mess....it'll be a long, hard slog.
But my negativity on him is that I perceive him as someone who had his head in the sand waaay too long before taking emergency actions. It's kinda like a pilot who, as his aircraft plunges from 30,000 feet and approaches 1000 feet suddenly realizes "oh gee, I've got an engine flameout. I better execute a engine restart procedure!" Well, good for the pilot to "finally" realize the dire problem. But Buddy....you're kinda late!
Yes. He saw where Greenspan's policies took us and hopefully he's learned alot of lessons. Hopefully.
Absolutely not. Incompetence is a synonym for Bernanke.
NO! However, If Obama had chosen another Chairman, I would have found it interesting to see the type of person he would have chosen. Looking at Obama's new Department Czars - radical philosophical backround's, I think that a Chairman selection with similar radical philosophy-backround would have shaken up the markets. America appears to not noticed the type of people who are now inserted into key positions, by the Obama Administration, who have capacity to make dramatic radical alterations to the Government design & Heritage fabric and the Financial-Market Systems of this Great Country.
NO
Yes very much so under the current circumstances. This decision is rightly on the basis of "steady as she goes"!
Good for the President. Time will tell if Ben has the guts to make proper decisions to keep inflation from going ballistic!
Yes, he should remain. This is a clear case of not changing horses in the middle of the stream.
Makes no difference. As I beleive in elliot wave and cycles their isn't anyone that could have done better.
No
Yes, a good move.
Yes. Probably better than some of the others he could have chosen.
Yes , because he is an experience expert allready beeing at the post ,
the best is not to challenge with a CHANGE ...
Bernanke or BOZO... Does it really matter? The concept that official US Gov't (& world) counterfeit cash and credit can brazenly masquerade as honest money is so thoroughly ingrained that a simple computer algo or any clown could, every few months, merely add a zero to the Fed balance sheet and simultaneously increase the national debt by an order of magnitude.
While the scale and timing of this subterfuge has varied over the years, the politically condoned theft of the value of personal effort, contribution, work, ingenuity and perseverance of the unwitting public has stealthily continued, unabated since 1913.
Who or what causes the continuing wreckage matters not. Bernanke is a non-entity and the Fed has only two objectives. The first is the care and feeding of the banking cartel. The second is self preservation -- easily accomplished by financing our government's fiscal follies in exchange for a cloak of invisibility for it's true agenda.
Yes.
No The Fed can not manage the business cycle. Just heard Ron Paul on "Bloomberg on the Economy" podcast. Ron Paul has it right get rid of the Fed!
Nope. but i think we ll get a clearer picture of the US market. MANIPULATION. =)
Damned if you do, damned if you don't. Big B is a known quantity but for his supposed knowledge of the past he appears set to repeat it. I'd say no, there should be a better choice out there. Especially after the massive attempt to spend their way out of the crisis.
yes
yes, hope he can solve the problem asap.
yes, since all the problem started from there.
Poor move to keep Bernanke. Poor move to keep the Federal Reserve. We were told when we created the Federal Reserve at the turn of the century, that they were needed to stablize the currency/economy so that the country would not get into financial situations like the one we are now in. It's time to have a relook at the Federal Reserve. Also, I do not think there is much difference between heads of the federal reserve, but having a new one appointed would at least slow down the damage while he comes up to speed.
i must confess it's one wonderful move by Mr President,he has seen his qualities and capabilities.
NO, Though considering the probable alternate choice, Yes.
Yes, He at least has the knowledge base to make intelligent decisions. Economics is a long way from quantum mechanics and there are so many changing variables that it is impossible to make the right decision consistently. He appears to be able to be right more often than wrong.
I agree with Greg Moser. Ron Paul for the job!
No. The guy is a mouth piece for the Bilderberg Group and Trilateral commission. We have to find sombody to stop the moronic stimulus gifting to big business.
Nominating Larry Summers instead would have caused panic in the financial markets. So "Helicopter Ben" is probably the better of the two evils.
NOT! Obama didn't have much say in the matter -- he was told to re-appoint Bernanke. Our entire economic situation was engineered by the FED and the FED should be abolished. When a private bank (the FED) can extend trillions of dollars credit to a black hole (Bernanke won't tell Congress who), charge us interest (usury) to borrow our own money and control our country and stonewall the Congress with impunity, it is time to make a change.
Believe the corporate media at your own (our own) peril.
Enlighten yourself: http://tinyurl.com/lbok4h
NO!!!! It's good for the bankers not our COUNTRY.....
I think he did a good job the frist term, and hope he will the second
No! He is bankrupting the country. All he knows how to do is print money. You can not fix a debt problem by adding more debt. The next downturn will put the last one to shame.
Get rid of Bernanke. In fact get rid of the lot of them.
They didn’t go to the trouble of tricking president Wilson into signing what he did which includes the Jeckyll Island thing, to be Mr. Nice Guys. The are in it for themselves and look out for you if you get in their way.
You can believe president Kennedy was assassinated by Lee Harvey Oswald if you like. You can believe in the tooth fairy also. It is pretty clear to me who did it. Google Executive Order 11110
They usurped the government by deception and need to be tossed out on their arse (ass to you)
They, with the cooperation of the government and their banking buddies, manipulate markets via the futures market. It is not a "free" market. The plunge protection (PPT) team was founded to keep high volatility out of markets but they abuse this power to the hilt also and don’t seem to care who knows it.
With a PROPER government and president (not one they want) and these slimebags disposed of, you will see things as they should be and if it presents obstacles to get back to the way it was before they infested your country, then so be it. No pain = no gain.
yes he was given a mess to deal with and he seems to be handeling it
Yes, I think he has a full understanding of the economic situation and is the best person that our country has at this time to help us out of this mess. I would prefer that we have a panel of our country's best business men (the Gates and Buffetts) to show us the right direction, but that's not an option.
No. Too close to Greenspan's way of thinking.
Absolutely NOT!
as Im not an american I havnt a view as to whether it is best for america but when the next big drop in the markets happens, which I believe is imminent we will be told it is only a small correction!!
Despite his personal flaws, and possibly over reaction he is the best candidate to continue as the Fed chief.
i think it is a moot point as to his fitness for a second term because i think he was made the "fall guy" for alan greenspan, who along with a few other husksters, paved the way for the very failures of fiduciary responsibility that has plagued our decision makers for the last few administrations. i think he was hand picked and "groomed" for the job, knowing at the highest levels of responsibility, that ben bernanke would fail. it's like inviting a guest pilot on board a flight of one of aviation's great flying machines and encouraging him to take the controls. then letting him do so, without "remembering" to tell him the hydraulic system is failing. happy landing!
No,
Bernanke has done a fair job, but it is time for a fresh outlook from someone else. Change is good and it is time for a change.
No ,He and FED is hidding truth ,want no Audit .
Yes...for now. Can't blame everything on him.......because so many
people messed up for this market bubble.
Uncle Ben was part of Greenspan's team who dismantled the safeguards placed by Congress to prevent the repeat of Great Depression disaster. The aristocracy and greedy surplanted regulations and logic. Obviously, Uncle Ben is no scholar of Great Depression for as soon as he took control after Greenspan's term, he was fighting inflation instead of deregulation at a time when the housing market had imploded and was deflating fast and furious as the house of cards created wealth tumbled due to artificially low interest rates inducing consumers to use all their equity to supplement income shortages and low wages. He is not the solution but part of the problem. I hope he learned his lesson, but I fear he hasn't and should not be reappointed.
I think that as a political yes-man, his re-appointment may be advisable for a faltering president, but for America as a whole? No.
Absolutely not!! However, anyone appointed to this position would be connected, and therefore, driven by the same empty morals. The entire financial sector is a JOKE.
Nope, letting banks fail might have been a little quicker and less painful in the long run.
there should be a redefination of duties and only accountable to the cbo.
I believe it is much to difficult to determine if he is the right person or not. We don't have any idea who else might have been appointed and have only a modicum of knowledge to judge the job Bernancke has done or will do in the future. Further, he has considerable experience at this point. So in my opnion they probably made the right( only) choice they could make.
No, he failed to recognize what caused last year's downturn and he will not recognize this Fall's downturn until it is too late!!!
I do not know.
Yes
yes - a change right now may be problematic
Yes, a known quantity is better than an unknown
NO
Yes, better than the alternatives.
No, He may have saved the day but what about tomorrow
Yes
yes
Absolutely not! Can we get Ron Paul?
No. I dont think that it is a best move for country.
Yes, I hope so!
No. I don't think it is fair to blame any specific person for what happened, but I don't think Bernanke, Geithner, Obama, etc, helped the situation at all. We could have had a "normal" depression to wash out the system and eventually recover in a couple of decades. Now the economy will probably not recover in our lifetimes.
Yes,
Given the environment he came into he has done OK. The Fed needs
transparency very bad and now. There needs to be a tax payer jubilee.
Get rid of him and all those in DC who want to keep him.
No, I vote for an intelligent computer to
replace him. Get rid of the fed altogether
would also be a good solution.Just finished
reading Creature from Jeckyl Island, a history
of the federal reserve. Great book!!!
While Ben is full of bluster,
he and the Fed have not passed muster,
with the recovery in doubt,
and the world's markets in rout,
he reminds me of the last stand of Custer!
While there is no clear answer, what is clear to me is that the combined efforts of the Fed and Treasury, while perhaps elleviating the short term immediate pressures of the seized up economy and markets, Bernanke may have been part of the problems that lead to their emergency responses in the first place (allowing for lax lending standards that lead to far too many unqualified real estate purchasers). Therefore, I would vote in favor of a harder nosed realist who would be reluctant to involve government to "fix" things related to free markets.
I think Bernanke is one of the best choices Pres Obama could have made. Bernanke may have been a bit slow at first, but when he recognized how serious our problems were, he averted a much more serious situation than we would have had otherwise. Also, he has first hand knowledge of the details of what is going on...we don't want someone who needs on the job training.
.
No, but ... it is indeed the best move for the Central Banksters, erm ... Bankers.
Enslave America by debt, their End Game.
However, staggering is ...
... To see that so many gullible US citizens are yet so much blinded by a concept of delusional existence of a "Goodness" inside Government's nature. Yet people believe that there is an spontaneous and natural genetic merge of nationals needs and Gov procedures.
There is NOT such thing, as nowadays Gov is remote-controlled by a collusion of mega industrial complexes, of both Defense and Finance. They are the ultimate rulers, and stealthly act like an invisible octopuss in multi-tentacled penetration areas.
Unconceivable that people still believe in Faux News and CNBC crap fan. Central Banks were conceived in evil-doing, and credit leverage is imoral and a cataclismic theft of multi-generations consequence.
Uncontrolled and ilimited credit rose and brought down the British Empire, the Roman Empire, the Spaniards, the Portuguese, the French, and even ancient Gengis Khan - who sentenced to death anyone who refused his currency - just like the US attacked Saddam Hussein for converting his forex reserves from $ into euros. He was the first to spearhead the almighty $ in the deep heart of its concept - therefore a lesson was to be learnt, and was also a threatening message spreaded to anyone else who also dared it so.
Useless initiatives. Capital cannot be hold stuck forever by brute force.
No country or empire has ever paid its debts, once annual deficit reached 6% of GDP, as is subsequently just skyrockets endlessly - then they default, and the currency collapses.
Roman legions simply abandonned their posts, as they refused payment other than gold - while weakened Roman Empire had only to offer a debased currency with 95% in copper. No army standing, therefore no Empire remained; and the Dark Ages came: the absence of a dominant power.
Hubris and self-delusionism, still prevents people from looking ahead and seeing obvieties.
An uncontrolled national histeric mania to look ONLY at the positive side dominates masses by fear, preventing them from looking at the other side.
In ancient times, the Catholic Church had the monopoly of information to brainwash people, therefore holding kings as hostages of their sovereign will.
In current times, TV has this power, and We, "Fat Cats Sat on Sofa", The People, became individualistically isolated by our laziness and empty greedy solitude, entertained by MacMansions, WideScreens, IPods, SUV's and Britney Spears' last scandal.
Maniqueism grasses, ignorance reigns, and hedonics prevails supreme.
Empty people, hollow currency, declining Empire.
Astonishing to see that, contrary to most embrionary American Values & Principles, most people yet DO NOT demand the country to compensate Irak people by the huge mistake 1.5 million killed during Irak War ... most possibly because Irak lives are not as valuable as American lives.
Unconceivable ... Is this America or what?
So many lazy people, lazy of conciousness and actitude, who deny themselves a minimal inner revolt to bash Bush and demand him to be trialed. Yet they storm to the street to bash against Health Care New Stealth Theft.
Yet they get revolted against the French - for blocking in UN the permmit to invade Irak - and then invent the so-called "Freedom Fries" to replace the french fries.
What an idiotic reaction. It this patriotism ?
Is this the country who used to be the Beacon of Values & Virtues ?
Where is the real America ?
Of eavesdropping, wiretapping and torture ?
Not of I know of !!!
Yes but only because to replace him would be seen as a negative and the gains in the economies of the past 6 months would be erased
I don't think that another term by someone who is bank friendly and not consumer friendly is a big mistake! Bernanke went along with all of the people who caused the problem initially (the banking industry) and handed over billions to the banks with no questions asked. The car companies were given the 3rd degree for what is in effect a pittance compared to what the banks received without any controls whatsoever. I think it may be a smart move for the president politically, but it is NOT good news for the average American trying to keep his head above water!
BERNANKE???????? WITH ALL OF THE POLITICAL DEBAKEL IN THE USA AT THIS TIME IN HISTORY/ WHEN NOTHING IS RIGHT/ AND EVERYONE IS WRONG/ PERHAPS IT IS BETTER THE DEVIL YOU KNOW THAN THE DEVIL YOU DON'T KNOW.I THINK THIS COULD BE ONLY THE BEGINNING. MAY GOD BLESS US ALL!!
No it is not
yes
I think re-appointing Ben was a good thing that Obama did. Ben was basically clearing up all the issues that Greenspan had created. I guess he did a good job at it.
NO !! He is a good part of the problem in this country !! (Along with the rest of this government !
Dina
Yes, it was a good move in terms of removing any uncertainty, thus reducing the volatility in the markets. It does not matter who gets appointed as the chairman of the Fed, since during all the so call qualified economist chairmans' tenures, there have been problems in the economy, all due to the ups and downs of the business cycle.
"Bernake not again" This is a poor move.
What he should be advising is:
Stop the printing presses to make the dollar stronger.
Cut taxes to get money flowing again.
Stop wild government spending.
During the depression the federal government spent money on projects that did't stimulate the economy and raised taxes...it did not work.
It would appear that Helicopter Ben who has studied the depression
has not learned from it.
NO! Ben missed it this past year;and, will continue to miss. However, he is better than Larry the media was promoting.
I believe that a YES is in order...
Who knows more about the current situation and how it has been handled better than Bernanke? He has the qualifications, he has the experience, he has already been hands on, anyone to enter the arena now will surely be behind the eight ball. We avoided depressions like scenarios to date, maybe due to his direct actions, let him stay the course and guide us from peril.
NO....He was/is part of the problem.
hey, we gave Bush a second chance, why not
Ben?
Yes. If not Bernanke, who is more qualified?
Only history will tell. It was probably a good move for Obama, and perhaps for the ocuntry considering Obama's other recent appointments. Who knows what radical mind from Harvard he would have chosen!
As far a sthe prizes, can I trade them for Ms. Poole's phone number?
Just asking!-)
Poor Benny; I'd hate to be worrying with what he's worrying about. Last thing he thinks before drifting off to troubled sleep, is "Why did I accept, I'm lost; I don't know anything about this job really. What if I guess wrong? Interesting times ahead for us watchers.
No. I recently saw an e-mail that had video clips of Bernanke from 2005 to 2007. In each clip, he was expressing his opinion of the current status of the economy and / or making a forecast. He could not have had a worse handle on the market conditions of the past four years. For someone with supposedly a high IQ, he has zero ability to interpret current economic conditions and forecast the future.
Should've nominated a conservative.
Yes, yes, yes!!!!!
Offering a second term to BB is in the best interest of the country. Too bad he said "yes".
Best choice available . . .
Yes....its a good move becuse he can and needs to look at the pitfalls of his policies
No, not a good move
No.
In the short term his appointment may (due to his policies) postpone a neccessary purging/catharsis and so avoid some pain, but it's storing up bigger trouble for a possibly extended period. IMHO of course.
No confidence that anyone is up to the job. Is this the best this country's got? And why are the Chairmen in so deep w/ Goldman Sachs?
I agree with Stephen Roach, chairman of Morgan Stanley Asia Ltd., who stated, “I think Bernanke has done a great job, post-Lehman. But going into this crisis, he really was the architect, if not the co- collaborator, in creating some of the conditions in the economy that led to the recession. I’m not a fan of rewarding bad behavior.”
We need different person, independent of the mess Mr. Bernanke created, in this position.
No!!! He's just another political crook!!!
No. His decisions in the first half of this economic crisis were bad and he acted slowly. I think he will only make more bad decisions.
No. He lied under oath when testifying in the BoA/Merryl Lynch deal.
no faith, in congress or the Fed. But who is out there that has the nerve to do what is best for the American people....
Bernanke’s reappointment is good for USA. Putting an unknown in the position at this point would only add to the mess that exists. We need some consistency going forward.
It's not a good move.
Yes. It's too easy to seek a scapegoat. The position is but one of many sticks that make up the financial structure.
Yes
Mr. Bernanke's reappointment is a mistake.
His past was a failure. His tenure at the Fed has been a complete failure. I'm not just addressing his actions as the head of the Fed, because he has been a failure from the beginning. His complicity in the actions of the Greenspan Fed should disqualify him. Where were Bernanke's public statements criticizing those policies? There were none because he agreed with them. Would you reappoint Greenspan? Bernake helped engineer the Greenspan bubbles and it is clear today that these policies were a disaster. These people like to mystify their craft, but the plain facts are that easy credit always leads to bubbles and disaster.
His present has been a failure: It took an overeducated academic to outdo John Maynard Keynes and bring the world's largest economy to its knees. Only an egghead could think that spending trillions of dollars would resurrect the American consumer from the crushing debt that he himself let loose upon them through easy credit. They represent 70% of our economy, and they are not coming back no matter what the government spends. Only an egotistical fool could convince himself that he is in charge of matters and won't be pushed aside by politicians when he opens the spigot because of his belief that only he can save the world. His pathetic bleatings that the Administration and Congress are creating too much debt should be enough to convince you this guy knows nothing about the reality in modern politics. "Oh my, I gave politicians a blank check and they spent it!" Pathetic!
His future will be a failure: Greenspan was an arrogant fool. Bernanke is a lot more likable, but he is no less a fool. What he is attempting has never worked in the past, and even if it did, he isn't in control of how it will be executed. It will fail. You can prepare yourself for more political solutions like Cash for Clunkers which will have a limited effect on the problem and put an effective solution that much further out of our grasp.
Economists like to mystify their craft but it is really an issue of common sense. Our current policies don't make sense. Bernanke is a smart guy, but being a great driver doesn't mean you know your directions. He is absolutely lost. He helped create the problem. He then rose to power and made the problem exponentially worse. And he will now remain in office for the whole house of cards to collapse. The only thing more ridiculous than leaving this failure in office is the reelection of the failures on Capital Hill who participated in this disgrace.
Don't underestimate Bernanke. He is part of the banking cartel and their actions are intentional and meant to bring down the U.S. The "New World Order" will then be imposed and we will be controlled by the bank cartel through the U.N. At least that's the plan.
The greater the exposure of this plan, the less opportunity they will have to execute it.
Don't believe it? Do some research.
Its not a right move . Bernake helicopter is not a good move from the beginning of his term. Some bankers representing classical, conservative, "Mises" point of view on the economy should be selected . But there is no any good left in this country.
NO!!
Absolutely not, Printing money willy nilly means we are in for a lot of trouble!!!. This is not protecting the dollar, which is what the Fed is supposed to do!!!.
He should not be reappointed but anyone else that Obama would appoint would probably be worse.
Okay, no shirt, but what about Melissa?
yes.....we'll never know if he averted a depression but I feel he has held off the recession.
I do not think that a 2nd term for Bernanke is in the best interests of the country, but, its probably too late to go back and try to correct the planned economic destruction of the U.S.A. The massive debt load will foster inflation which will undermine the currency and the whole system will collapse. I hope Y'all have your wealth in something other than stocks or currency, and whatever it is don't take it to the bank.
Yes, its to soon to call anyone a looser yet Remember 1/2 our dept was caused in the 8 yrs. before now
No, Bernanke is still using the Hoover playbook of '30. He has yet to move-on-up to that of FDR - no matter what he thinks he knows about the Depression of '33-'37. What irritates is that he has added nothing, nada, to their playbooks while pretending that nothing was done right by the FED at that time and he has the printing press - so did they. He is just repeating what failed and is not bright enough to add anything new - or too afraid.
There were numerous depressions before the '30s Fed involvement, and throughout the developed world,including the US, all were out of recession/depression in 2-3 years BY DOING NOTHING TO STIMULATE AND EVERYTHING TO CUT GOVERNMENT SPENDING. US Congress was in charge back then and had not relinquished their financial duties to a private FED bank. All that has been accomplished is to make the super rich more rich. This fool didn't understand what he read when he wrote his thesis. Why should we think he knows now and, for sure, this Congress has no clue. Any American one asks on the street has the answer, so why doesn't he.
Best move for the Fed, not for the country.
It is not the best for the people of America. However, the head of the Fed. is nothing more than a ponzi figure anyway.
Therefore, Yes, bring him back in.He was a big part in creating this debacle, so he needs to be there when we have the next round of problems.
No! This was obviously a political move and by definition, not good for the people of the United States.
NO ~~~~ Bernanke is the best move for the country? No No No No No No No Now it is down we go 🙁
No
Yes......if the Pres wants him its a good idea....
NO!!!!!!!
Keep him there!
It's the right move; we'll never know if it was the "best" move.
only so he can complete his tasks dictated by his masters, the Financial/Banksters Oligarchy ...while transferring all possible wealth to the controlling elite , witness the recent rules allowing private-equity firms to buy out failing regional and community banks ...the biggest heist in history continues....
Yes, I do think by Reappointing Bernanake was a good decision. I do know that what he did in all honestly is not a good idea long term but if he didn't do what he did we would have somthing worse than the Great Depression.
Bad move.
of course it's right move for now, we'll see if it's the right move in the furture.
Is there ever a "best move"? Anyway, it is a good move.
WOW! Never got past Ms. Poole's lovely smile to even notice the Zip Drive- Where were we ? - Oh Yes - Bernake- Sure, why not.
Ben is fighting the "audit the FED" bill because it will probably show that the FED bailded out his buddies running hege funds and foreign banks. I agree with Gert, Ben, Paulson, Tim G. and George W. should be in jail. This is why they are scared of an audit
Yes, I hope.
No worse than anyone else. At least he is a known quantity.
Yes, give Bernanke a second chance...
I think that he is the correct person for the job of handling the U.S economy.
YES.
I think it's funny how people still want someone who's bringing all Americans down. Very glad not to live in that country.
Bernanke should have his 2nd term, in JAIL! Together with all other members of the FED and banks (shareholders), since it's nothing more than an illegal operation.
Ben Bernanke’s reappointment is not good news on an investor’s point of view.
Bernanke is fighting the proposed audit and the court decision requiring that the fed tell where they put hundreds of billions of dollars. He is part of the problem.
No
Yes it is a good move. He was slow to act 18 months ago, denying the credit crisis, but he knows what needs to be done.
I answer with a YES. To your original question. But Ben was chosen by history and his predecessor who knew or at least must have known how the house of cards could come tumbling down. He wanted someone who was an expert in depression era economic history and scholarship. Ben would know what to do and what not to do. Was he successful? It is not clear yet but we seem to have weathered the worst of the present situation but only if things improve. If job layoffs continue and the housing market, both retail and commercial starts to fall further and consumer spending just stops- then nothing Ben can do, can stimulate further and the dollar is in shreds. We owe so much it is only the US government that gets the loan- no one else can or wants one.That we rely on credit to do everything implies that those with the money rule and we have exported both our money and our manufacturing abroad so there is very little left. Prescient we are not.
You are a genius, in my opinion, and your comment is perfectly argumentatively written and if I'm wrong my stops are in. Since is not clear if he was/is/will be/ a successful chairman it's not fair to judge bernanke to harsh, better or not DJI rose 40% since march. Good luck with your analysis Steve.
With the political turmoil we currently are going through, I believe a known, Bernanke, is a better choice than an unknown.
Good Move...
Reappointing Bernanke is not a best move. This move may be good for President but not at all good for people in the United States.
Doing the same things over and over with the same people used to be the definition for insane. In this economy it should be criminal.