and of course he won't take any blame for farking up the economy.

Not to mention his starring role in the collapse.

submitter: Greenspan says this is the worst economy he's seen

OMG, don't tell Hannity (new window)

Which means he was hazed by McCain as a freshman?

Cewley: and of course he won't take any blame for farking up the economy.

Did you see that congress hearing years ago where he was getting yelled at by Bernie Sanders? Quite amusing.

Bukharin: Did you see that congress hearing years ago where he was getting yelled at by Bernie Sanders? Quite amusing.

http://www.youtube.com/watch?v=nBnKh6B2cMw

Cewley: and of course he won't take any blame for farking up the economy.

To be fair, our problems aren't the faults of any single individual...this is a 'perfect storm' of failure to enforce the rules, short-sighted greedy investors and election year politics all hitting at once.

we're not out of this yet either, not by a long shot.

He also said McCain's tax cut plan sucks.

/Link^

torch: Not to mention his starring role in the collapse.

Yeah, that is what I find so amusing. Whenever he speaks now, it's as if he wasn't the Chairman of the Federal Reserve, ever.

It's funny that people think he's such a fark-up now, but up until a few years ago everyone seemed to think he was an unimpeachable semi-mystical economic genius.

Weaver95: To be fair, our problems aren't the faults of any single individual...this is a 'perfect storm' of failure to enforce the rules, short-sighted greedy investors and election year politics all hitting at once.

we're not out of this yet either, not by a long shot.

Ah, Weaver95, the voice of reason in an otherwise partisan flame war. Thank you.

Rats are filthy animals. They were the vehicle for the fleas that caused the faking bubonic farking plague, ferfarksakes.

Monoxide: Rats are filthy animals. They were the vehicle for the fleas that caused the faking bubonic farking plague, ferfarksakes.

I'm tempted to say this was a mispost but on second thought, maybe not.

Cue the "everything is just fine because I made more money this year than I have previous years" economists. God I hate those fekking idiots that think the overall economy is based entirely on their own personal situation.

Sucka_Fish [TotalFark] Quote 2008-09-14 02:46:06 PM
He also said McCain's tax cut plan sucks.


He actually said borrowing money to cut taxes is a bad idea.

Even people like me who rail at the media ownerships support of the Republican party multi-trillion transfer of wealth to The very rich by looting all Americans future, believe tax cuts from spending cuts or revenue surpluses are good.

Wall St. Journal - Wages are falling for just about everybody

http://online.wsj.com/article/
SB122100588052317381.html?mod=todays_us_page_one

clip -

Workers with professional degrees, such as doctors and lawyers, were the only educational group to see their inflation-adjusted earnings increase over the most recent economic expansion, adding to the concern that the economy has benefited higher-earning Americans at the expense of others.

Workers in every other educational group -- including Ph.D.s as well as high school dropouts -- earned less in 2007 than they did in 2000,
adjusted for inflation, according to data from the Census Bureau. Data don't include 2008 earnings.

This sack of shiat is as responsible for it as anyone.

He played ball. He didn't do anything to put an end to it.

Mind you, this is the guy that, when asked whether he thought we had a housing bubble, "it's not so much a housing bubble as it is a housing froth."

If we have a depression, he will go down in the history books as one of the key responsible parties.

The actual quote FTA is "the crisis with the country's financial institutions was as dire as he had ever seen in his long career". "Financial institions" are not the same thing as the economy itself. Methinks subby is among the crowd that's actually hoping the economy tanks.

He doesn't need to worry though, middle class America is far to cowardly to go vigilante on his money conniving rectal cavity.

Conservative NY Post admits real unemployment rate is 15%

http://www.nypost.com/seven/09092008/business/
fed_bailout_will_leave_us_all_on_our_fan_128177.htm

clip -

But the official numbers don't tell the whole story.

The Labor Department was able to keep losses to just 84,000 by assuming that 125,000 jobs were created last month by newly formed businesses.

Do these jobs really exist? Probably not.

Why does the government keep adding them? Because nobody in Congress or the media has called the bureaucrats on the carpet, who compile these statistics for this fraud.

These make-believe jobs come from something the Labor Department calls its birth/death model. I've been trying to expose this nonsense for years.

[...]

The U-6 unemployment rate is now 10.7 percent, up from 8.4 percent a year ago.

And that doesn't even include people who are so discouraged about their job prospects that they've stopped looking for work altogether. Add them into the total and the unemployment rate is probably close to 15 percent.

Bob16: Wall St. Journal - Wages are falling for just about everybody

http://online.wsj.com/article/
SB122100588052317381.html?mod=todays_us_page_one

clip -

Workers with professional degrees, such as doctors and lawyers, were the only educational group to see their inflation-adjusted earnings increase over the most recent economic expansion, adding to the concern that the economy has benefited higher-earning Americans at the expense of others.

Workers in every other educational group -- including Ph.D.s as well as high school dropouts -- earned less in 2007 than they did in 2000,
adjusted for inflation, according to data from the Census Bureau. Data don't include 2008 earnings.



QFT

The basic definition of a recession is when inflation has outstripped wage increases over a long (several years) period of time.

Then, people can no longer afford to buy the same types of items that they once could afford. Thus slowing the economy, and causing what we refer to as a "recession".

Cewley: and of course he won't take any blame for farking up the economy.

oh fark off. Ten years ago, you cocksuckers would turn on a dime if Greenspan farted.

glenlivid: Cue the "everything is just fine because I made more money this year than I have previous years" economists. God I hate those fekking idiots that think the overall economy is based entirely on their own personal situation.

Wall street bursts into song every time I buy a twinky, so you just stfu.

Ladies and gentlemen, from the cockpit this is your Captain speaking, if at this time folks yo have them, Light 'em up, cause we're going down complete with flames. Flight attendants assume crash positions

KW

B-b-b-but we are not in a recession!

4 More Years! 4 More Years! 4 More Years!

/idiots

moothemagiccow: Cewley: and of course he won't take any blame for farking up the economy.

oh fark off. Ten years ago, you cocksuckers would turn on a dime if Greenspan farted.



That would be before he caved to Bush.

Asking people from the Huffington Post to define the economy is like asking people at Free Republic to define global warming.

Greenspan was asked about financial institutions. Which are just one part of the economy. It's old news that this is the worst financial storm he's said he's ever seen.

Cewley: and of course he won't take any blame for farking up the economy.

this.

>> The basic definition of a recession is when inflation has outstripped wage increases over a long (several years) period of time.

I'm not sure if that is the definition but i know that this BS about 2 quarters of negative GDP is not the definition.

See the NBER website.

Well the conservatives gave us the great depression in 1929 so it figures they would fark things up again

Gee, ya think? After losing the #5, FNE, FRE, LEH on the block. Take a look at C, MRE, WM then and now. The Fed has taken over the banking system and no one has noticed comrade.

The U-3 unemployment measurement. It's almost as if the economy goes through cycles.

helix400: Greenspan was asked about financial institutions. Which are just one part of the economy. It's old news that this is the worst financial storm he's said he's ever seen.

Out of curiosity, what sector of the economy do you believe is doing strong?

Considering that the Bush economy was bolstered by the housing market, with all other sectors reporting bad to horrible performance, I'm not seeing anywhere that is doing well but perhaps I'm missing something.

>> Methinks subby is among the crowd that's actually hoping the economy tanks.

HAAAAAAAAAAAAAAAAAAA

Like the economy hasn't already started to tank.

helix400: The U-3 unemployment measurement. It's almost as if the economy goes through cycles.

I would like to point out that the extreme down end of the cycle is what we call a "depression".

Bleh, my image was thrown away at the last second. Lemme try again.

U-3 unemployment

ALLAHU AKBAR!

Any fark-econ buffs-

If the US dollar continues to inflate at the current rate, will that offset the housing value loss? (Provided, of course, there continues to be good turn over in the neighborhood for similar properties.)

Also, do you think it would be better to save any extra income in something of high interest, or make extra payments the mortgage? Is it better to earn more or lose less?

So how has Bush been cooking his job creation numbers ?

Well according to the conservative NY Post he has started something called the Birth / Death model.

It's just a number of jobs that he pulls out of thin air and it's been as high as 80% of the total jobs in a given month.

That means you can probably take his pathetic job creation numbers and cut them in half.

Greenspan economy: Why have a lunch when you can borrow to buy a car. Why have dinner when you can borrow to buy a house.

BladBoy: OMG, don't tell Hannity (new window)

Sean Hannity is a goddamn retard. Case. In. Point.

OMG 3.3% growth in GDP!!! (ignore that it was from government stimulus checks.)

Why the fark is this guy given air to breathe?

Random Reality Check: Considering that the Bush economy was bolstered by the housing market, with all other sectors reporting bad to horrible performance, I'm not seeing anywhere that is doing well but perhaps I'm missing something.

Education, Lots of people in college right now who will be making 40k+ when they get out with their B.S. business degrees.

The third Roman empire is crumbling (Britain's being the second). Now it's just time to watch India, Russia, and China duke it out to see who will be the new world superpower.

>> OMG 3.3% growth in GDP!!!

Which is a lie.

Kevin Phillips new book "Bad Money" shows that the economic stats are all cooked now to make them look better.

BTW Kevin Phillips is a life long republican

TeddyRooseveltsMustache: The third Roman empire is crumbling (Britain's being the second). Now it's just time to watch India, Russia, and China duke it out to see who will be the new world superpower.

India will win, hands down. Book it, done.

It's scarier without the little qualifier of "in his long career", since he was born three years before the start of the Great Depression.

Until house price stabilize = 300,000 per house. Currently it is 600,000 per house. We have long way to go.

House is supposed to be cheap so people can afford it.

Yeah, thanks for playing Alan...Epic FAIL!