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Must vote Obama out to get Bernanke out.

Posted: Sep 15, 2012

The Fed's latest move ("QE3") involves printing even more counterfeit money and doing even more of the same thing while expecting a different result. And you know what that is - insanity. But Bernanke hopes it will artificially pump up the economy (although buying up mortgage-backed securities does NOTHING to create jobs or generate real economic growth).

Stock traders liked it because the stock market has become a day-trading institution. They're on a sugar high, and Uncle Sugar hopes they won't crash until after the election.

Bernanke should resign, but he won't. The only way to get rid of this astoundingly incompetent boob is to vote Obama out of office.

As if there weren't reasons enough (Holder, Sebelius, etc.) anyway.

;

His stunt has just led directly to US credit rating being - downgraded again!

[ In Reply To ..]
The result of printing money is inevitable. More money chasing goods and services means that inflation, and perhaps superinflation, is on the way.

If that happens, it will be far worse than anything we've experienced in our lifetimes for one significant reason: The explosion of retirees means an explosion of people who are on fixed incomes - and for many of these, their retirement savings have been wiped out or greatly reduced, along with what value they had in their homes, etc.

It's very possible to envision a real crisis coming for millions of retirees.

Bernanke, you shouldn't resign. You should go to prison.

I wholeheartedly agree. He's a criminal. Unfortunately, (sm) - Aunt Sue

[ In Reply To ..]
he's not going anywhere. He's part of Obama's plan to destroy the country from within.

Here's what the rating analyst said: - Please read it.

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People, this has gone far, far beyond party considerations. You need to start thinking about this country. You need to start thinking about your families, your children, and even your grandchildren. You need to start thinking about yourself, if nothing else.

I'll quote here the VP who's in charge of the credit rating operation:

______________________________

The Federal Reserve’s “money printing,” Hassiepen said, has not really contributed to the improvement in the general economy” so far.

Instead, all it has done is increase inflation and the cost structure in the general economy, as will the new round of QE just announced Thursday.

“We actually think this is going to cause unemployment, not employment,” he said. "The Fed’s policy will reduce household’s disposable income and raising costs will also lead companies to lay off people,” he said.

“Let’s say six months from now, you might see job actions in some of the more commodity-sensitive industries that are particularly vulnerable to an increase in commodity prices and a weak dollar", he predicted.

“This is going to cause the economy to completely stagnate,” he said, expecting the effect to start within three or four months."

_______________________________

Read that last sentence again. This is Bernanke's calculation - that the negative effects of his loony policies won't kick in until AFTER the election.

People, it's time to pull up our big-girl panties and THINK. This is NO TIME IN AMERICAN HISTORY TO BE DRINKING THE KOOLAID OR TO BE SPOUTING PARTY TALKING POINTS.

That's all I ask of ALL of us - please, please, just THINK.

I am a retiree who thought my savings were... - sm

[ In Reply To ..]
going to be wiped out in the 2008/2009 free fall of the market. I was still working and followed good advice to hang in there and not panic. It was good advice and I am now actually in plus territory to where I was before the fall.

We already voted out the prez who appointed him. - Besides, Obama cannot fire him

[ In Reply To ..]
The Chairman of the Federal Reserve is appointed by the president, confirmed by the senate and serves a term of 14 years. Those of the rules, baby, as they apply to the independent monetary agency, whose decisions do not require approval by the president or anyone else in the executive or legislative branches. Rail on and, by all means, try your best, but you cannot hang this on Obama.

You really know so very little about how this works. - Bernanke's term expires in 2014.

[ In Reply To ..]
Holy moley.

Fed Chairman's term is FOUR years, not 14. - And you can bet Romney wont reappoint.

[ In Reply To ..]
x

Furthermore, it is customary for the Fed Chairman to - offer his resignation if a new Prez is elected.

[ In Reply To ..]
And you can bet Romney will accept it. Bernanke will be gone before 2014.

Fact remains that Fed decisions do not require approval by the either executive or - legislative branches of govt

[ In Reply To ..]
Obama did not make this decision, the Fed did.

You are quite naive, aren't you? - Oh dear.

[ In Reply To ..]
As Joseph Lawlor said, "traditionally, Fed chairs and presidents act in concert".

The reason for this isn't even political. The reason is that the actions of the Secretary of the Treasury and the Fed Chairman cannot be contradictory if the policies of either the administration OR the Fed are to be effective.

Fed is independent, does not require approval of decisions - 14-year terms to keep it that way. NM

[ In Reply To ..]
x

Here is a really good link on the Federal Reserve nm - anony

[ In Reply To ..]
.

So what else did Joseph Lawler say? - Full context disclosure

[ In Reply To ..]
of statements made during the time he made your posted comment, when the GOP primary was traversing its cannibal stages, pitting Perry, Gingrich, Mittens et al against each other.

"If Gingrich were elected president, he would find getting rid of Bernanke to be a difficult task. The Fed is structured to remove the influence of politics from monetary policy. Accordingly, the president nominates candidates for the Board of Governors, but, once approved by the Senate, the governors are granted 14-year terms that can't be cut short by the executive branch. The chairman of the Board of Governors, also nominated by the president, is limited to four-year terms, but after he's confirmed the president has no authority to remove him unilaterally. Furthermore, the chairman is also a member of the Board of Governors, so even if President Gingrich were to replace Bernanke when Bernanke's term expires in 2014, Bernanke could choose to fill out the remainder of his 14-year term as a governor."

Here's a cons link to the full context of your cherry pick. American Spectator failed to credit Lawler with the statement, but the second link does so.

http://spectator.org/blog/2011/12/13/could-gingrich-fire-bernanke

http://andrewsullivan.thedailybeast.com/2011/12/can-the-president-fire-the-fed-chairman.html

If voters do the RIGHT thing instead of the PARTY thing - Obama and his cast of clowns will be gone.

[ In Reply To ..]
There is simply no earthly form of logical analysis that will support the reelection of Barack Obama. He has been a disaster in virtually every single area of governmental policy.

I joined a solid majority to elect him to the presidency - before and expect to do so again. Some respect

[ In Reply To ..]
for your fellow citizens, our democratic process, and the presidency itself is in order, whether you understand that or not.

Yep. Couldn't agree more. - nm

[ In Reply To ..]
nm

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