Ben said it, not Obama
But markets respond to positive, upbeat messages, not gloom and doom, it'll-be-years talk.- "Bank stocks on Tuesday posted their best performance in almost a month, and their seventh biggest percentage gain ever, after Federal Reserve Chairman Ben Bernanke reiterated that the government would keep banks solvent and said he saw no need to nationalize some firms.
Investors rushed to buy bank shares after Bernanke said there is no benefit from nationalizing the biggest U.S. banks."
"We got into this mess largely because of government meddling in the economy, and because of regulations, policies and agencies that have no business existing in a capitalist society in the first place." NewsbustersAnd I don't trust Ben either. He and Hank laid the ground work.
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If we wish to be true capitalist, then government should never get involved in private business . The fact that all past capitalist societies have evolved into socialists leads me to believe that there is something fundamentally wrong with capitalism as we know it . Don't get me wrong I'm not a fan of socialism and God only knows why communism didn't work ( May-be it was the fact that they kill all those apposed to it ). Suddenly moving from hunting and gathering doesn't sound like advancement.
Murray sez:
You mean you didn't notice the Obama team manipulating puppet Bernanke? Barney Frank's team get to grill Barnanke today just so he and his cohorts can keep in the picture. I wonder who they will all blame when the stimulus proves to be just what everyone knows it is...just PORK!
“Obama is a radical communist and I think it is becoming clear. That is what I told people in Illinois and now everybody realizes it’s true. He is going to destroy this country and we are either going to stop him or the United States of America is going to cease to exist.” Alan Keyes
http://rawstory.com/news/2008/Alan_Keyes_Stop_Obama_or_U.S._0220.html sorry--source for Keyes comment. clicked too fast.
That cover of Newsweek gives me the creeps, but sadly it's true (I detest Newsweek, by the way). I'm terrified of what I'm seeing this admin doing and nothing seems to be stopping. The sheep continue to graze.
At Pat Dollard's site: "Now our mortgage industry is collapsing, housing prices are in free fall, major industries are failing, our banking system is on the verge of collapse, social security is nearly bankrupt, as is medicare and our entire government, our education system is worse than a joke (I teach college and know precisely what I am talking about)–the list is staggering in its length, breadth, and depth. It is potentially 1929 x ten. And we are at war with an enemy we cannot name for fear of offending people of the same religion, who cannot wait to slit the throats of your children if they have the opportunity to do so.
And now we have elected a man no one knows anything about, who has never run so much as a Dairy Queen, let alone a town as big as Wasilla, Alaska. All of his associations and alliances are with real radicals in their chosen fields of employment, and everything we learn about him, drip by drip, is unsettling if not downright scary (Surely you have heard him speak about his idea to create and fund a mandatory civilian defense force stronger than our military for use inside our borders? No? Oh of course. The media would never play that for you over and over and then demand he answer it. Sarah Palin’s pregnant daughter and $150,000 wardrobe is more imporant.)
Mr. Obama’s winning platform can be boiled down to one word: change.
Why?"
WOW! It looks like you sure did stir the pot with this post! I like your posts because of how they make me think about the economy and being an American. I appreciate your insights and knowledge.
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