Bernanke at it again

[gypsyman]

Seems the Fed Reserve chairman Ben Bernanke is stating that the fed might just buy some extra securities, to help fight deflation. The interest rate is at .25%, and their thinking of trying to lower it. Try and get the economy moving.
Anybody want to wake up Buckwheat there, and tell him he's about a year or 2 to late. My van is 6 years old, and worth $3000 less than what I owe. The value of my house was dropped by the county last year. Housing price's have dropped by over a 1/3 in most place's, some by close to 1/2.
They have seen what has happened in Japan in the 90's, and are afraid we might have a double dip recession.(again, somebody want to wake old Buckwheat up and tell him it's 2010!) The Titanic is sinking, and they are still thinking a bucket will help. gypsyman

[SHOOTALL]

be calm after all the bankers and politicans make what they want they may let some spill onto the rest of us .

[The Hermit]

The worst is yet to come. Freddie and Fannie are about to go belly button up. Bonds are overbought. We're printing money faster now than at any time in history. The rest of the world is dumping dollars. This massive deficit can only be defaulted on OR inflated away. My bet is on inflation.

   The Hermit

[Conan The Librarian]

Gypsyman:

Right on!

Somebody needs to 'splain to me this double dip recession thing. Did the first one end? If it did, I'd like to see some evidence of that. The damned interest rates are obviously not helping. The issue is that business sees the political instability, hostile tax situation, and unnavigable credit situation in the US and refuses expand and hire domestically. I guess having a PhD in economics and a high ranking government position is not enough. You need to be a super genius like every business owner in the country to realize this obvious fact.

The federal reserve has nothing to do with those things.

Congress can do a lot about those things, in fact it is their job to work on those things.

[Pat/Rick]

Yep,Congress can do alot. They keep spending more.

[The Hermit]

IMHO, congress and the federal reserve are directly responsible for originating the mess we are in. The federal reserve(Greenspan) loaned money to banks at almost zero percent interest and encouraged the public to take on massive debt, primarily in the houseing market. If you could breathe and mark your X, you could get a loan even if you could not pay it back. The banks sold these worthless loans to "hustlers" who promptly churned them, so that they could loan out more money.  Kinda like a legal Ponzi scheme. Freddie and Fannie, backed by the taxpayers, guaranteed them. Now they are worthless or nearly so. There isn't enough money in the world, figuratively speaking, to bail out Fannie and Freedy, so Bernake will spread the problem to a bank near you.
The market hit its first bottom in March 09, then had a nice rally, then rose rapidly. This is sometimes refered to as a "dead cat bounce". Now, I think the other shoe will drop.
Conan is right especially in the fact to us "common folks", it appears as one long recession. Everything that I buy is rising in price. The value of the dollar is declining. Now I'm getting a headache.

The Hermit