Monday, July 20, 2009
The Best Five-Minute-And-Seven-Second Argument Against Giving the Fed More Power
This is hilarious. (HT2LRC) The internet is awesome. I'm impressed that someone took the time to make this video without putting in an ad or something at the end. That's just how much people can't stand Bernanke; his public repudiation is its own reward.
Comments:
Bob,
Listen, your logic and all your "principled libertarianism" is all well and good, and quite cute to be honest, but the reality is this-- as Hank Paulson said in testimony to Congress last week, while in hindsight some mistakes were made the response wasn't perfect, it was substantially correct and can you even imagine how bad it would've been without the Fed in charge?
I mean, you think there was no oversight WITH the Fed... now think about how much oversight there'd be WITHOUT the Fed.
Yeah, I think you see what I mean. Glad you could see it my way. Thought I was going to have to hold a gun to your head and 'persuade' you of my argument.
Listen, your logic and all your "principled libertarianism" is all well and good, and quite cute to be honest, but the reality is this-- as Hank Paulson said in testimony to Congress last week, while in hindsight some mistakes were made the response wasn't perfect, it was substantially correct and can you even imagine how bad it would've been without the Fed in charge?
I mean, you think there was no oversight WITH the Fed... now think about how much oversight there'd be WITHOUT the Fed.
Yeah, I think you see what I mean. Glad you could see it my way. Thought I was going to have to hold a gun to your head and 'persuade' you of my argument.
LOL @ Taylor's comment.
I can't beleive someone still uses the word "oversight" and "FED" in the same sentence, as in - FED actually provides oversight?
Wow. Straight out of Jaywalking...
I can't beleive someone still uses the word "oversight" and "FED" in the same sentence, as in - FED actually provides oversight?
Wow. Straight out of Jaywalking...
# posted by 
: July 20, 2009 at 3:55 PM
: July 20, 2009 at 3:55 PM
What was more hilarious to me were the comments of the TV financial reporters (journalists?) and absolutely clueless "news" anchors who simply read what's put before them.
I'd like to see a compiled video of THEIR past reporting! Their lack of real-time in-depth reporting and analysis helped (and still sustains) the charade perpetrated by both the Fed and Treasury.
And yes! Thank goodness for the internet where more in-depth discussion of the topic has been taking place...
I'd like to see a compiled video of THEIR past reporting! Their lack of real-time in-depth reporting and analysis helped (and still sustains) the charade perpetrated by both the Fed and Treasury.
And yes! Thank goodness for the internet where more in-depth discussion of the topic has been taking place...
# posted by : July 20, 2009 at 5:33 PM
: July 20, 2009 at 5:33 PM
This video would really be funny if the consenquences of Bernanke's incompetence weren't so dire.
"Listen, your logic and all your "principled libertarianism" is all well and good, and quite cute to be honest, but the reality is this-- as Hank Paulson said in testimony to Congress last week, while in hindsight some mistakes were made the response wasn't perfect, it was substantially correct and can you even imagine how bad it would've been without the Fed in charge?"
Now THAT is really hilarious! Hope you weren't really serious Taylor.
"Listen, your logic and all your "principled libertarianism" is all well and good, and quite cute to be honest, but the reality is this-- as Hank Paulson said in testimony to Congress last week, while in hindsight some mistakes were made the response wasn't perfect, it was substantially correct and can you even imagine how bad it would've been without the Fed in charge?"
Now THAT is really hilarious! Hope you weren't really serious Taylor.
Phil David,
Naw, just trying to deadpan Paulson's testimony/logic verbatim. It's funny enough by itself I didn't feel like there was any reason to add any bells or whistles to it.
Naw, just trying to deadpan Paulson's testimony/logic verbatim. It's funny enough by itself I didn't feel like there was any reason to add any bells or whistles to it.
Judging by his tone, eye movement and what we now know about what was happening on Wall Street, I'm leaning towards the premise that Bernanke was lying through his teeth rather than being ignorant of the facts. I don't *think* he's a dumb man and couldn't see what was going to happen, given the vast amounts of data at his disposal. He simply chose to whistle past the graveyard because if the Fed chief says the sky is falling, the markets will respond negatively. Well, I guess that happened anyway, albeit 5 months later.
# posted by : July 20, 2009 at 10:22 PM
: July 20, 2009 at 10:22 PM
Watching the video reminded me of a scene in the first Star Wars movie. Remember OBWon-Kenobi? "These are not the droids you're looking for."
# posted by : July 21, 2009 at 5:23 AM
: July 21, 2009 at 5:23 AM
Let's not forget that Bernanke was the head of the econ department at Princeton and that he hired our good friend, the brilliant Krugman.
"Bernanke was educated at East Elementary, J. V. Martin Junior High, and Dillon High School, where he was class valedictorian. At age 11, Bernanke won the state spelling bee competition but finished 26th overall at the national competition in Washington, tripping up on the word “edelweiss.” Bernanke also taught himself calculus, edited the school newspaper, and achieved a near-perfect SAT score of 1590 out of 1600. He was also an All-State saxophonist, playing in the school’s marching band."
http://en.wikipedia.org/wiki/Ben_Bernanke
I don't think these guys are dumb. That would make them......
"Bernanke was educated at East Elementary, J. V. Martin Junior High, and Dillon High School, where he was class valedictorian. At age 11, Bernanke won the state spelling bee competition but finished 26th overall at the national competition in Washington, tripping up on the word “edelweiss.” Bernanke also taught himself calculus, edited the school newspaper, and achieved a near-perfect SAT score of 1590 out of 1600. He was also an All-State saxophonist, playing in the school’s marching band."
http://en.wikipedia.org/wiki/Ben_Bernanke
I don't think these guys are dumb. That would make them......
# posted by : July 21, 2009 at 10:07 AM
: July 21, 2009 at 10:07 AM
«I don't think these guys are dumb. That would make them......»
bald-faced liars?
@ Taylor
Sometimes difficult to detect sarcasm on blogs... Very much enjoyed it though
bald-faced liars?
@ Taylor
Sometimes difficult to detect sarcasm on blogs... Very much enjoyed it though
Speaking of who's dumb and who isn't, why would Dubya appoint Bernanke to be Fed Chairman if Bernanke was the kind of guy who hired Krugman at Princeton?
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# posted by : July 21, 2009 at 2:39 PM
: July 21, 2009 at 2:39 PM Subscribe to Post Comments [Atom]
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