Is Ben Bernanke Really Stupid?

helicopter-ben-bernanke-is-stupidSimple Question, is Ben Bernanke really as stupid as his actions would deem one to think?

Read this post below for your answer and decide for yourself just how much of an idiot helicopter Ben really is (and how stupid Obama and the Congress might be for allowing his charade to continue):

Bernanke, You Stupid Bastard

There, you read it there today, but if you had been reading The Casey Report then nothing in that column would surprise you AND you would be PROFITING from the disaster as it unfolds.

An Investment Newsletter You Cannot Afford NOT to Read

Please Note: In the cartoon above, Helicopter Ben Bernanke is only throwing money out over the top of Wall Street and his favorite Wall Street banking crook friends.

Ben Bernanke – He Was So Wrong He Was ReAppointed

All I can say is that if I was this wrong in my job, I would be out of a job, not reappointed to another term to one of the most powerful jobs in the world. Maybe even sued.

Ben Bernanke was so arrogant in this video, so all knowing, “I don’t even agree with your premise” (that there is a potential housing bubble).

“We’ve never had housing prices decline on a nationwide basis” (therefore it absolutely cannot happen in the future).

What a jackass (IMHO). What a liar, or what an idiot; is there another option?

So what does the President do, what does Congress allow? They reappoint this arrogant disaster to another term as Federal Reserve Chairman with a huge salary, benefits, and unimaginable power and future earning potential.

Don’t argue that he couldn’t tell the truth because it would roil markets. There are ways he could have done that and implied caution, at the minimum. Instead, he encouraged more of the same.

Helicopter Ben Bernanke should have been fired, not reappointed.

Why Does Anyone Listen To Ben Bernanke?

ben-bernanke-with-headacheFor a while today, the stock market was up in part based on some reassuring words from “helicopter” Ben Bernanke, Chairman of the Federal Reserve.

The man known as “The Bearded One” stated that his institution, the Federal Reserve, would do “whatever is necessary” to keep this recovery rolling along.

Now, those of you without a job or working way below your normal pay grade may dispute that we are even in a recovery, but the economists say we are.

And the economists know what they are talking about, right? They routinely score 4% higher in accuracy than the weatherman does.

Why the Chairman of an institution that should have no credibility whatsoever in the first place even gets a microphone to talk into is confusing.

The ONE mandate of the Federal Reserve upon its creation was to protect the value of the currency of the United States Of America, the U.S. Dollar; aka almighty buck.

How have they done?

Hmm, not so good.

Perhaps “helicopter” Ben is respected for his short term clarity & grasp of the coming financial collapse, the worst since the Great Depression (and it ain’t over yet).

Here are some of Mr. Bernanke’s wise statements with dates:

“At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,”  Ben Bernanke, March 28, 2007

“It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions. “  Ben Bernanke, October 15th, 2007

“[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself.” Ben Bernanke, January 18, 2008

On Freddie and Fannie, two months before they were taken over: “They will make it through the storm,” “… in no danger of failing,” “…adequately capitalized.“ Ben Bernanke, July 16th, 2008

Ok, so is this guy really that stupid? Here are the two options:helicopter-ben-bernanke

a) He really did not see any of the problems coming, even though dozens of great economists did and were not only vocal about it but even wrote open letters to him. So, why would you listen to him now?

b) He is incredibly intelligent and knew exactly what would happen, but not only was he powerless to prevent the chaos (it would have been worse if he weren’t so smart) but he couldn’t speak the truth publicly because of how the markets would react. In which case, if he didn’t tell the truth then, why would you listen to him now?

Well, obviously his impact on the markets today was muted, they ended the day down…

If you want to protect yourself financially then maybe you should be listening to the people who DID predict the events we have seen and are making forecasts now about what to expect on the horizon..

AND…

More importantly, what to do about it to position yourself properly.

Try a Risk Free Trial of The Casey Report. They are currently telling subscribers how to NOT get clobbered by the back side of this financial storm and profit instead.

Bernanke Is Person Of The Year, But In A Bad Way!

Seeing Helicopter Ben Bernanke named as Time’s “Person of the Year” almost made me puke as hard and as violently as seeing Obama given a Nobel Peace Prize for what the world “hopes” he will do. (BTW, Obama’s first year approval ratings have plummeted like no other President before him!)

But as this guest editorial from Casey Research implies, maybe, just maybe we don’t get it.

Like the TV weatherman who seems to get a paycheck regardless of how far off he is on predicting the weather, Helo Ben is acclaimed by the managed media in spite of the insanity that has become, for some, his reign of terror.

Check it out.

Are We Missing Something?

By Olivier Garret, CEO, Casey Research

Ben Bernanke is a dubious choice to be named “Person of the Year” by Time magazine.  While Time’s Managing Editor Richard Stengel credits him with recognizing early and reacting appropriately to the ongoing financial crisis, in reality, he was wrong time and again with both his predictions and his remedies. Just remember these gems:

  • On July 1, 2005, Bernanke stated without hesitation that we were not experiencing a housing bubble: “I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit.”
  • November 2005, on derivatives: “With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.” And “the Federal Reserve’s responsibility is to make sure that the institutions it regulates have good systems and good procedures for ensuring that their derivatives portfolios are well managed and do not create excessive risk in their institutions.”
  • February 15, 2006: “Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise.”
  • February 2008: “I expect there will be some failures of smaller banks” (Bear Stearns collapsed a couple of weeks later).
  • But then again, I guess in regards to his nomination we are talking about achievements in 2009. That was the year Bernanke said, “Currently, we don’t think [the unemployment rate] will get to 10 percent.”

This is the same chairman of the Federal Reserve who told us that Fannie and Freddie were “adequately capitalized” and “in no danger of failing.”

Unfortunately, he has not just been wrong about housing, unemployment, banking, and derivatives — his policies have directly contributed to all of the problems we now face.

High unemployment and the weak dollar threaten to further undermine our economy, yet his policy is to just keep borrowing. The massive debt his policies have foisted on the American taxpayer is weakening the U.S.’s position as global economic leader and hurting already tenuous relations with foreign governments. Bernanke has supported the policies of Greenspan and our current and previous administrations – the very policies that got us into this mess.  He has supported the leveraging of the American economy to rescue companies long past saving and the  borrowing of billions from foreign governments to line the pockets of corrupt investment bankers.

Better candidates for Time’s Person of the Year

I could recommend a few alternative names for runner-up, if Time’s criteria are really as dubious as they appear:

  • Lloyd Blankfein from Goldman Sachs for robbing taxpayers legally
  • Rick Wagoner of GM for taking the world’s largest car maker to bankruptcy in a quarter-century
  • Tim Geithner for ensuring that all of our bankers prospered during the worst financial crisis since the ‘30s (Roger: I like to refer to Mr. Geithner as “Little Timmy, sidekick of Helo Ben”. Has a cute ring to it, don’t you think?)
  • Tiger Woods for providing the nation with great dinner conversations and helping to spur tabloid sales.

Bernanke is insistent on using inflation to make our personal debts seem small, all the while setting the country up for a much larger disaster long term. Bernanke is borrowing from Peter to pay Paul… and robbing taxpayers to pay Peter.

As you may have noticed, the government will not save you from the reverberations of a declining U.S. economy. You’ll have to take matters into your own hands… and no one is better at pointing the way than the editors of The Casey Report. No matter how dire the economic trend, double- or triple-digit gains within 12 to 24 months are easy if you discover the right opportunities to profit. Find out more by clicking here.