Is economy getting better or worst?

Solid Body Love Songs · **Posted:** Fri Oct 15, 2010 6:32 am

"WASHINGTON (AP) -- The Federal Reserve is prepared to take further steps to rejuvenate the economy by buying Treasury bonds but is wrestling with how big the program should be, Chairman Ben Bernanke said Friday.

Bernanke said the Fed must weigh the risks of a Treasury-buying program and determine how the debt purchases would be paced. The Fed's bond purchases would be intended to lower long-term interest rates to stimulate buying and spending and help lower unemployment.

Fed policymakers are widely expected to announce a Treasury buying program at their next meeting Nov. 2-3.

"There would appear -- all else being equal -- to be a case for further action," Bernanke said.

Bernanke also indicated that policymakers are trying to craft a plan to strengthen the economy and lift inflation from super-low levels. He made his remarks in a speech delivered to a Fed conference in Boston.

The economy is growing at a pace "less vigorous than we would like," Bernanke acknowledged.

Unemployment, now at 9.6 percent, has been stuck near double digits for more than a year. Bernanke indicated that the Fed is concerned that economic growth is likely to remain lackluster and that unemployment will decline only slowly next year. High unemployment is likely to keep consumers cautious in their spending.

Because the economy is weak, "the risk of deflation is higher than desirable," Bernanke said.

For now, the Fed is more interested in seeing prices rise-- rather than fall.

As Bernanke was speaking, the government issued a report that pointed to why a new Treasury-buying program may be necessary to ward off deflation. Consumer prices excluding the volatile categories of food and energy were flat or a second straight month.

A prolonged drop in prices for goods, for wages and in the values of homes and stocks is dangerous for the economy and Americans' pocketbooks. It makes paying on debt much harder, causing more people to fall into foreclosures, default on credit card bills and companies to slide into bankruptcy.

Bernanke's comments come as the Fed is weighing steps to try to raise people's expectations of where they think inflation is heading in the months ahead.

If the Fed were to communicate that it will tolerate a higher-than-normal rate of inflation, that could make companies feel more inclined to nudge up their prices. Shoppers, thinking prices would be rising even further in the future, would be more inclined to make purchases sooner. That would lift inflation from worrisome low levels.

Such a move would push "real" or inflation-adjusted interest rates, down, which could spur more spending. Fed officials at the September meeting noted that it has ways to try to influence people's expectations of inflation. One way was to include information in the minutes of the Fed meetings to try to shape people's expectations about inflation."

This is exactly what scares everybody, the Fed is making the economy worse and telling the people that it is getting better. The only way to improve the economy is to grow private sector jobs and I mean more millions of jobs than the number of people who want and need them. Why won't they say that, simply and clearly and then focus on that until it happens so the American people know that they know what to do about it. Oh, I forgot, that would be the truth and this administration ( to be fair, politicians and government for the most part in these days act like a deer in the headlights when ever truth is mentioned ) can't get within a thousand miles of the truth, actually, they are treating it like it is a disease.

BlackCatBone · **Posted:** Fri Oct 15, 2010 6:54 am

63supro wrote:

Talk about name calling? How about Sean Hennerty calling the President of the United States "The Anointed One"? It's guys like him, Beck and Limbaugh who leave a sour taste in everyone's mouth about the Republican Party even though not all Republicans are like that.

Yeah and Rachel Madcow, Chris Hissyfit Matthews and Keith "less than 100 people watch my show" Olbermoron are such level headed, standup and respectable Libs? They never call Conservatives names or lace every comment they make with some pejorative.

Did you take equal offense at 8 years of Bush being called names or are you just upset now that it is Obama, a Democrat" who is the target? Hannity calling Obama the Anointed One is actually spot on though, because most who support him think he is the second coming of Christ and firmly believe in everything he is doing. If you think Hannity calling him the Anointed One is turning anyone off or leaving a sour taste in "everyone's" mouth then you are wrong. They leave a sour taste in the Libs, yes. But not "everyones" which other than Libs includes both Independents and Republicans. Obviously Hannity, Limbaugh and Beck have much much better ratings than talk shows on the Left so someone other than "far right wing extremists" are listening. You're just going to have to get over the name calling bit, it goes on on BOTH sides with even more vitriol coming from the Left.

I notice several times you have said "both parties" are to blame but continue to take your shots only at Republicans. If you are going to blame "Both" parties, you might want to keep it balanced when throwing out the insults, or not, but it is transparent when you say "both parties" share blame then rail only on Republicans, other wise it makes you like the "hippocrates" you so vehemently speak out against.

captain eyeball · **Joined:** Mon Nov 05, 2007 10:39 pm **Posts:** 554

cvilleira wrote:

captain eyeball wrote:

cvilleira wrote:

captain eyeball wrote:

Solid Body Love Songs wrote:

captain eyeball wrote:

nobody wrote that obama should get a free pass because bush was not impeached. that is you own illogic.

i wrote that you are delusional because you are calling for the impeachment of obama without citing even one specific charge and credible evidence to support that charge.

offer the forum a specific charge and credible evidence to back it up. until you do this you have nothing but general speculation fueled by your hatred of the fact that obama is president and your guy didn't win last time.

sorry just because your guy lost that does not mean that obama should be impeached.

CE, if any one wanted this president to succeed, unfortunately, I am guilty of that want, my view was how great it would be for young people to witness a young president doing a great job and thereby inspiring the country to be better. I was angry with the republican minority for not seizing the opportunity to shape the health care bill into one that would benefit all Americans instead of bankrupting the country. Then the questions started to pile up about his backers and his cabinet and the manipulation of the media about the war, the oil spill, the health care bill, his affiliation with anti-American or socialist movements, the things he has said to crowds are different almost contradictory, for union/ socialist groups and then for just folks at campaign speeches he has given, he has different dialogue for each and the media wisely doesn't show the anti- American stuff it has been revealed by other media outlets that are considered anti this administration instead of just reporting information. If we go to the beginning the facts about this president don't add up to anything like I had hoped for, ( I had to look for and find my birth certificate and discharge documents in order to apply for help with my medication, and no law professor am I ) again the public is being hood winked by another politician and his cronies, and, what is supposed to be his opposition more and more appears to be complicit in all of it, from cover up to cover up. The Reverend Wright issue was heartbreaking, his admission to smoking crack ( much worse felony than powder ) , a law professor that doesn't know what country he is in, thinking about any of it is exasperating at the very least, politicians lie, this administration is starting to make liars look like friends ( with media help ). I'm hoping that all of this is a dream and when I wake up the true president will be the person we all hoped he would be but it isn't looking too good. If you can offer any glimmer of hope that the changes he talked about during the campaign where to benefit this country, and not political BS, when this administrations real agenda was destruction of America and progressive globalization meaning redistribution of wealth from our futures to theirs, you have my attention.

i appreciate your response. i am also disappointed in the obama administration about a couple of issues. however, i suspect that my disappointment is different from you disappointment.

for instance as far as health care goes i am disappointed that the administration didn't insist on a single payer public option and try to begin the process of getting the private insurance companies out of the practice of medicine.

while i may be disappointed in the obama administration...i have yet to see any credible evidence of wrong doing that would warrant impeachment. i noticed you in your response offered no specific charge nor credible evidence to support impeachment. just the same old generalizations that his political opponents brought up during the 2008 presidential campaign and a few others about policies they don't like that obama has put forth as president. but nothing that is an impeachable offense.

i consider myself a civil libertarian and that is why i tend to vote democrat because the republican party tends to want to tell me and others, which human i can marry, what i can put into my body, and weather or not women should have to bring a pregnancy to term...things that the government should not be involved in. i do realize most democrats are not civil libetarians but they tend to be more opened minded about civil liberties then republicans.

by the way did you vote for obama? i suspect you didn't.

You are proof of the statement I made above that Gays and woman's rights are the last thing I am worried about in these economic times. Thats just a battle ground issue liberals bring up to cause a separation and divert from other issues. Leave those issue for the battles of who become Supreme Court judges.

And if you think our government can run Heath Care better then businesses your out of your mind. What program has the government every run in a cost effective manner? Talk about not having money we would be begging Spain to bail us out!!!! :shock:

We would be handing almost half our pay checks to the government to cover the cost. 20 years from now it would be social security 10 fold.
Look at the cost of Medicare , it's a form of single payer insurance and it does not cover as much as many think which is why so many carry supplemental policies. (at there cost)
Many Doctors won't even take medicare patients unless the patient them self pays and then summits the bill to be reimbursed. This is because of the low payment and slow payment and the paperwork involved. Experience from Mom and Dad.

Talk about screwing the economy chapter 7 the country with that cost right now.

i am proof of nothing. I think most gays and women would disagree with your belief that their issues are just a diversionary tactic by liberals to divide people, and the only issue we should be focusing on is the economy and only the economy. while the economy is really important only a tunnel vision moron would only focus on that and forget everything else like you seem to be suggesting.

and if you like health care the way it is..good for you but you are wrong when you say a single payer system would cause us to hand over half of our paychecks and would be too costly.

of course you can respond to whatever you like...but you never responded to my post yesterday in response to your post where you claimed that the gassing of kurds by saddam in the 1980's was evidence of weapons of mass destruction in iraq during 2003.

care to respond now?

I guess I am a Tunnel Vision Moron, I love how you liberals like calling people names.

i didn't call you a tunnel vision moron...i said "while the economy is really important only a tunnel vision moron would only focus on that and forget everything else like you seem to be suggesting". by what i said if you believe that we should only concentrate on one issue at a time then yes you are a tunnel vision moron. but in your response to me you mentioned that we should be dealing with more than one issue...so you are obviously not a tunnel vision moron.

as far as me being a liberal that term as well as conservative really fail when it comes to describing most people. as i mentioned in this thread i am a civil libertarian and i guess that makes me a liberal on most social issues.

however i am an economic conservative as i believe people should pay as they go, and not over extend themselves...especially when economic times are good. i applauded the budget deal that clinton and a republican controlled congress worked out in the 90's which produced several yearly budget surpluses...with the surpluses being used to begin paying off the national debt.

however, the minute bush was sworn in he got on tv and irresponsibility said the government has been taking too much of you money because it has been running a surplus for several years. so i am going to cut taxes and give you a 300 tax rebate. this was incredibly irresponsible and completely gutted the budget deal the a republican congress and clinton worked out to bring in budget surpluses and begin paying off the national debt. where were all of you that are complaing about obama's spending when bush did what he did at the very beginning of his first term. where was the outrage then? where was the outrage during the eight years of bush that saw the return of yearly deficit spending and the ballooning of the national debt?

as i said i am an economic conservative but also a realist and realize that in times of economic crisis the government must step in and deficit spend to at the very least stablelize the crisis. that's why i applauded the financial industry bail out that bush put together at the end of his term with obama's approval. if they had done nothing unemployment would be at 20% or greater. furthermore, to suggest nothing but tax breaks for high earning individuals and deregulation as the solution to are current economic mess is laughable. those, are the same policies that created the economic crisis in the first place.

cvilleira · **Posted:** Fri Oct 15, 2010 10:45 am

Gold 1,370.00 :shock:

When do you start selling off?

BlackCatBone · **Posted:** Fri Oct 15, 2010 11:17 am

cvilleira wrote:

Gold 1,370.00 :shock:

When do you start selling off?

not yet if at all. the only concern you have right now is if Obama and Co. decide to start confiscating gold like FDR did. But I can see no reason why gold would start to drop in value or to sell it off at this point. of course I bought the majority of mine early on and at a much lower price than it is currently valued at so maybe I see it differently.

belly65 · **Joined:** Sat Jul 17, 2010 12:38 am **Posts:** 108

BlackCatBone wrote:

cvilleira wrote:

Gold 1,370.00 :shock:

When do you start selling off?

not yet if at all. the only concern you have right now is if Obama and Co. decide to start confiscating gold like FDR did.

Obama and co will not confiscate your gold. The only reason FDR did that was because he was restructuring banking and taking the U.S. off the gold standard.

cvilleira · **Posted:** Fri Oct 15, 2010 12:01 pm

BlackCatBone wrote:

cvilleira wrote:

Gold 1,370.00 :shock:

When do you start selling off?

not yet if at all. the only concern you have right now is if Obama and Co. decide to start confiscating gold like FDR did. But I can see no reason why gold would start to drop in value or to sell it off at this point. of course I bought the majority of mine early on and at a much lower price than it is currently valued at so maybe I see it differently.

I have been buying some Palladium lately, about a year ago it was 330.00 now around 600.00

BlackCatBone · **Posted:** Fri Oct 15, 2010 1:18 pm

belly65 wrote:

BlackCatBone wrote:

cvilleira wrote:

Gold 1,370.00 :shock:

When do you start selling off?

not yet if at all. the only concern you have right now is if Obama and Co. decide to start confiscating gold like FDR did.

Obama and co will not confiscate your gold. The only reason FDR did that was because he was restructuring banking and taking the U.S. off the gold standard.

Many of the US top asset managers have already warned that might be the next move since so much money is flowing into gold be it bullion or ETF's. The simple fact alone that there is a concern that obama might do the same as FDR coupled with the fact that Obama is a devout follower of FDR's views and policies is significant reason enough to feel that a move like that may be in the works. Dismiss it if you like, that is fine. I don't expect you to agree with anything I post and that is fine. Keep in mind though, Obama is also "restructuring banking".

63supro · **Joined:** Tue Aug 07, 2007 2:19 pm **Posts:** 8827

Mikew910 wrote:

Washington thinks the economy is doing so well, they need to come down to Florida where it stinks right now. A lot of people have told me it's the worse they have ever seen it here.

It's not good in Pa. ether. Hasn't been for the past 4 or 5 years. There is virtually no manufacturing in the Philadelphia area. Most of the jobs where I am now are either Walmart or some paper hat job. Even our local Pharmaceutical companies are farming out help lines and manufacturing jobs to India.

belly65 · **Joined:** Sat Jul 17, 2010 12:38 am **Posts:** 108

BlackCatBone wrote:

belly65 wrote:

BlackCatBone wrote:

cvilleira wrote:

Gold 1,370.00 :shock:

When do you start selling off?

not yet if at all. the only concern you have right now is if Obama and Co. decide to start confiscating gold like FDR did.

Obama and co will not confiscate your gold. The only reason FDR did that was because he was restructuring banking and taking the U.S. off the gold standard.

Many of the US top asset managers have already warned that might be the next move since so much money is flowing into gold be it bullion or ETF's. The simple fact alone that there is a concern that obama might do the same as FDR coupled with the fact that Obama is a devout follower of FDR's views and policies is significant reason enough to feel that a move like that may be in the works. Dismiss it if you like, that is fine. I don't expect you to agree with anything I post and that is fine. Keep in mind though, Obama is also "restructuring banking".

Settle down Beavis!

Wrong and the so called top money managers are wrong. Obama will not call in all gold since we are not on the gold standard and have no plans to go back to the gold standard. Also you stating that obama is a devout follower of FDR is a bit of a stretch.

Do these so called top money managers have a vested interest in selling gold?

Here is a good read about investing in gold.

http://www.wealthdaily.com/articles/buf ... -gold/2119

I would also rather have sacks of beans and rice then gold.

Just think of all the quality farts!!!

BlackCatBone · **Posted:** Fri Oct 15, 2010 4:11 pm

belly65 wrote:

Settle down Beavis!

Wrong and the so called top money managers are wrong. Obama will not call in all gold since we are not on the gold standard and have no plans to go back to the gold standard. Also you stating that obama is a devout follower of FDR is a bit of a stretch.

Good ol Butthead, I must be and top money managers must be wrong only because you say so. Typical. Yeah the top money managers must be wrong and have a vested interest in gold since you disagree! :lol:

Post all the articles you want about how investing in gold is a waste, tell that to those who are now seeing gold over the $1300 mark in value and still rising. For every article you post about how is a waste I can post one showing how it is wise...but the proof is in the pudding and real life value of gold.

If you don't see all the parallels between Obama and FDR and how his policies are influenced by FDR's then really there is no need to continue with you. Anyone, even a Liberal, can see how similar Obama's policies are to FDR's New Deal. From economic regulation, to central planning, to ineffective public works projects, to federal spending on entitlements..Obama's policies are obviously influenced by the ground work laid by FDR. Even Liberals, who wouldn't necessarily disagree with Obama's policies mirroring those of FDR, could tell you how similar they are.

Again, we will have to agree to disagree.

63supro · **Joined:** Tue Aug 07, 2007 2:19 pm **Posts:** 8827

Just wait, CC Camps are next. (That's Conservation Corps ) Might not be such a bad idea for the folks who just don't really care or have the financial means for college.

cvilleira · **Posted:** Fri Oct 15, 2010 10:37 pm

belly65 wrote:

BlackCatBone wrote:

belly65 wrote:

BlackCatBone wrote:

cvilleira wrote:

Gold 1,370.00 :shock:

When do you start selling off?

not yet if at all. the only concern you have right now is if Obama and Co. decide to start confiscating gold like FDR did.

Obama and co will not confiscate your gold. The only reason FDR did that was because he was restructuring banking and taking the U.S. off the gold standard.

Many of the US top asset managers have already warned that might be the next move since so much money is flowing into gold be it bullion or ETF's. The simple fact alone that there is a concern that obama might do the same as FDR coupled with the fact that Obama is a devout follower of FDR's views and policies is significant reason enough to feel that a move like that may be in the works. Dismiss it if you like, that is fine. I don't expect you to agree with anything I post and that is fine. Keep in mind though, Obama is also "restructuring banking".

I would also rather have sacks of beans and rice then gold.

Just think of all the quality farts!!!

I keep My Gold, Platinum, Palladium and Silver along with lots of Ammunition.

You can keep the Farts, just don't light any matches :lol:

Voodoo Blues · **Joined:** Thu Nov 15, 2007 11:05 am **Posts:** 1333

Just to stir the pot a bit...

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_prolific_congress

inbalance99 · **Posted:** Mon Oct 18, 2010 8:16 am

I'm not convinced a government passing a bunch of bills / laws is necessarily good government.

If quantitative easing II is the same magnatude as I and has the same impact on gold it could go over $1500.

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