Time names Bernanke as Person of the Year

[ricket]

http://www.time.com/time/specials/pa...947251,00.html

Bernanke's research added key nuances to the blame-the-Fed thesis. He showed that the Depression was caused not just by insufficient money sloshing around the system but also by clogged credit channels that prevented that money from flowing toward potentially productive borrowers when too many banks failed. He also outlined a "financial accelerator" effect in which disrupted financial markets increase the cost of credit, which intensifies downturns, which further increases the cost of credit.

Pathetic really. But why should I be surprised?

The Fed *is* the cause of financial panics because of fractional reserve banking. End that practice and there would be no such thing as bank runs. Bernanke should be put in jail and the Fed should be abolished, NOT heralded as a savior.

[GRG55]

Re: Time names Bernanke as Person of the Year

http://www.time.com/time/specials/pa...947251,00.html



Pathetic really. But why should I be surprised?

The Fed *is* the cause of financial panics because of fractional reserve banking. End that practice and there would be no such thing as bank runs. Bernanke should be put in jail and the Fed should be abolished, NOT heralded as a savior.

This would be the same Time Magazine that published this cover on February 15, 1999...:rolleyes:

[jpatter666]

Re: Time names Bernanke as Person of the Year

As much as I want to heave, they're probably right. Bernanke has probably had more impact on the world than even The Chosen One.

It's about impact, not popularity or whether they are doing the right thing.

And Bernanke's on track to become Person of the Century if this keeps up and we all implode......:mad::mad:

[iyamwutiam]

Re: Time names Bernanke as Person of the Year

As much as I want to heave, they're probably right. Bernanke has probably had more impact on the world than even The Chosen One.

It's about impact, not popularity or whether they are doing the right thing.

And Bernanke's on track to become Person of the Century if this keeps up and we all implode......:mad::mad:

I don't know -I guess everyone has to find their own way. I mean till I was 19 i really thought Time magazine was a credible source of information. Ahh -those were the days .....

[MulaMan]

Re: Time names Bernanke as Person of the Year

The Time Warner towers is now the most expensive real estate in New York City.

Perhaps Time Warner will declare that they are no longer the world's largets media company, but have decided to become a commercial bank.

Then they will ask for a taxpayer bailout.

[audrey_girl]

Re: Time names Bernanke as Person of the Year

sure, sure

if Obama, Krugman, and Gore can all win Nobels - then why not

Petraeus for Pope!!!

Welcome to Bizzzaro World!

[ricket]

Re: Time names Bernanke as Person of the Year

As much as I want to heave, they're probably right. Bernanke has probably had more impact on the world than even The Chosen One.

It's about impact, not popularity or whether they are doing the right thing.

And Bernanke's on track to become Person of the Century if this keeps up and we all implode......:mad::mad:

Oh that article and the reasons the editor chose him as the person of the year is just oozing with propaganda. The editor calls him the "Good Banker" as if that was actually possible given you're the head of the largest and most criminal cartel on the planet.

And that is going to be the defense about naming him. "Oh but its not about good, its about the impact they had". It's a bullsh*t defense. My reply to that? Did Time name Bin Laden the Person of the Year in 2001? Cause he sure as hell had alot of impact (literally and figuratively).

[rjwjr]

Re: Time names Bernanke as Person of the Year

It's about impact, not popularity or whether they are doing the right thing.

So, your choice for Person of the Year in 2001 was Osama bin Laden?

[rjwjr]

Re: Time names Bernanke as Person of the Year

This would be the same Time Magazine that published this cover on February 15, 1999...:rolleyes:

Hauntingly familiar...

[don]

Re: Time names Bernanke as Person of the Year



Yes, I believe their criteria, at least publicly, is on impact....

[D-Mack]

Re: Time names Bernanke as Person of the Year

So, your choice for Person of the Year in 2001 was Osama bin Laden?

Why would that be ?

[WildspitzE]

Re: Time names Bernanke as Person of the Year

The Time Warner towers is now the most expensive real estate in New York City.

Perhaps Time Warner will declare that they are no longer the world's largets media company, but have decided to become a commercial bank.

Then they will ask for a taxpayer bailout.

Check out the first listing in the link below. That's a large tenant. Woops.

http://www.zerohedge.com/article/nex...-estate-part-1

[e_goldstein]

Re: Time names Bernanke as Person of the Year

This is why I love iTulip. Where else can one go to be reminded daily that we've crossed the threshold into Bizarro World? :rolleyes:

[Ghent12]

Re: Time names Bernanke as Person of the Year

Hauntingly familiar...

Now now, let us all take the time to remember that we are all equal. Some are just more equal than others.

[GRG55]

Re: Time names Bernanke as Person of the Year

This is why I love iTulip. Where else can one go to be reminded daily that we've crossed the threshold into Bizarro World? :rolleyes:

I don't remember EJ making that call. Did iTulip slip up again? Geez the forecasting ability of this site is just going down the tubes...;)