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alstry (35.99)

Bernanke INCOMPETENT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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March 16, 2009 – Comments (7)

 Bernanke: The end's in sight

Fed chairman says on "60 Minutes" that the recession will come to an end “probably this year,” assuming the financial system stabilizes

NOT A FRICKEN CHANCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

WHY????????????????

Because the financial system CAN'T stablize due to the FACT that the problem is there no one qualified to lend money to................

Assuming we funded the financial system with unlimited dollars.......it wouldn't matter.  The people, businesses, and municipalities that the banks used to lend money to are now UNqualified to borrow any more and/or have no econmic purpose to deploy capital....as a result, no matter how stable we make the banks.........unless they are going to keep loaning money to people who can't afford to pay back........the system continues to shut down, more and more debts defaults, and NO STABILIZATION IN THE FINANCIAL SYSTEM.

Bernanke is still trying to use Depression era analytics dealing with illiquidity to the current INSOLVENCY problem.........two very different situations requiring very different approaches.  And don't you think he knows that by now!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

During the depression we started off with very low debt and had growing businesses and industries hungry for capital to satisfy the world's demand for American goods....today, we are recovering form lending everyone too much, too quickly, against a base of declining production.

If we don't purge the system of the debt.....there will be fewer and fewer Americans that will be able to borrow anything.......and those that have borrowed will keep defaulting at ever increasing rates until practically the whole country is broke and most businesses have shut down.

Why do you think Alstry is sooooooooooooooooooooo accurate with his projections....this stuff ain't hard if you see it.

Until we bail out the borrowers.......the lenders will keep needing our tax dollars until we have no tax dollars left to give.

7 Comments – Post Your Own

#1) On March 16, 2009 at 8:36 AM, alstry (35.99) wrote:

Empire State index falls to fresh record low

Empire State index falls to -38.2 in March

DID ANYONE NOTICE THE NEGATIVE??????????????????

Unemployment 30% here we come!!!!!!!!!!!!!!!!!!!!!!!!!!!

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#2) On March 16, 2009 at 8:44 AM, alstry (35.99) wrote:

Actually, the last sentence should read:

Until we RESTRUCTURE the borrowers.......the lenders will keep needing our tax dollars until we have no tax dollars left to give.

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#3) On March 16, 2009 at 12:13 PM, jesusfreakinco (28.93) wrote:

They think they are doing everyone a favor talking up the economy (apparently Volcker got to them...), but they are leading the sleep to slaughter.  They are damned either way.

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