Bernanke to Savers: We Don't Owe You A Living
Submitted by bobbyw24 on Fri, 02/03/2012 - 07:59in
While we wait for the employment report, there was another big story yesterday --- the Fed treatment of savers.
Fed Chair Bernanke testified before the House Budget Committee, responding to some illuminating questions from Committee Chair Paul Ryan (R. WI). Joe Weisenthal, who is usually on the track of the biggest story, anticipated this one yesterday:
DEAR SAVERS AND RETIREES: Stop Whining About Those Lousy Rates You're Getting From The Bank
Here is Joe's conclusion:
Read more: http://www.businessinsider.com/bernanke-to-savers-we-dont-ow...
The Fed doesn't owe us anything except
to get out of the way. Congress owes us honest money so that we can save successfully.
Savers to Bernanke: FU Ben!
:(
We don't owe Helicopter Ben a living, either.
So, let's fire his worthless a$$ right now!
Damn straight
Occupy The Fed!
"If we lose freedom here there's no place to escape to. This is the last stand on earth." -Ronald Reagan
When they took us off the Gold Standard they took away our money... in order to make it theirs. -OneTinSoldier
One statement here is a PURE strawman
He wrote:
"I continue my plea: Look beyond politics. Most recently, look beyond the popular ploy of making a villain out of the Fed."
That's very pragmatically argued, but not correct.
The Federal Reserve IS a villain in this case. Might not be the only one. But make no mistake about it. It is a villain.
~Chris
Norfolk, VA
One of the great virtues, saving, is dead thanks to Ben
One of the great virtues, saving, is dead thanks to Ben. And this is one of the reasons why the United States is doomed. If banks cannot count on savers to build capital, there will never be a recovery. NEVER.
"Gold is not money, and savers can go to hell." F you, ben.
"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"
Bernanke disgusted me more
Bernanke disgusted me more than usual yesterday. It's so obvious the guy is WAYYYYYY in over his head. He's taken the wrong road and is refusing to get back on course.
The ONLY course is to END THE
The ONLY course is to END THE FED!
Ron Paul or Bust
ditto
makes me wish for Greenspan's 'fed-speak'. At least his gibberish was entertaining. But with Bernanke the committee members seem the more intelligent. What else can you say,we have been so f**d!
"If you want something you've never had before, you have to do something you've never done before." Debra Medina