Bernanke On The Record

ben bernanke

“My goal is to talk to people outside the Beltway to hear what they are thinking, and do the best I can to explain what’s happening in the economy.”

Many people who care very little for facts have been saying a great deal of nonsensical words in regards to conspiracies and wild theories. In this time of historic actions being done by the government in what amounts to an expanse in federalism it is important to understand the truth of the matter and not allow yourself to be lead astray by people who care nothing for the truth and only seek to promote their own twisted agendas.

Federal Reserve Chairman Ben Bernanke recently did a open forum event hosted by PBS in which the public could ask him questions in regards to his job and the state of the American economy.

Reality Check: Economics in America

1.globe_and_moneyLet it be said that I am not bought off and not invested in how much money you make one way or the other.

I am one of last people on the web that is willing to tell the truth and attempt to remove all the shadowing and spin that resides over all that is the media.

Allow me to be plain:

We are headed for a depression.

I repeat this as a man with three businesses and a successful career in marketing said this statement to me.

A math teacher of high credentials has said to same to me in the past year.

You won’t hear this from the bought and paid for economists who sat on their hands and let our economy crumble beneath us as they remained mute.

While the word ‘depression’ in regards to economics is about to appear on the FFC Banned Words List there is much to be understood about what awaits us.

I’ll remove as much jargon as I can.

The economy will go up. But then it will come back down again.

They call me a “W” in terms of my economic perspective in that I believe we will regain strength in the market in coming quarters. But I think these will be temporary gains and ultimately we will fall back into a recession cycle that will lead to a depression.

Most media economists tell you that they are a “V” which to me just denotes that they are blindly optimistic or much more likely bought and paid for.

Some maintain that there will be no improvement and they are labeled the “L‘s”.

And some still think we will have gradual and slow recovery that is unhampered and they are labeled as “U‘s”.

Anyone like myself who speaks of a forthcoming American Depression would squarely fit into the “W” or the “L” camps.

However, the notion that all hope is lost is a false one.

Most of us ‘money-savvy’ people already know that fortunes can be made in depressions and that the wealth of the nation will not dissolve into thin air but rather will be distributed down to the people who have the intelligence and the foresight to take advantage of the downturn.

This is just a sliver-lining though. Each family should take real steps right away to build up the value of your home, maximize your portfolio and be prudent about major expenses.

But it’s important to realize that if we are going to prove me, a math teacher and a successful business man wrong that this nation will have to refocus itself on consumer spending.
If all of America continues to tighten it’s belt in this endless fashion then you begin to see why some predict this outcome at a latter date. Most say about three years and I would estimate a little longer span of time but the same end result.

Tracking The Stimulus Money

The most obvious choice for a tax-payer who is interested in learning more about the stimulus money and how it is being spent is Recovery.Gov.

There is also the addition of the website Recovery.Org to the mix.

But the most open-sourced transparency and best place, in my opinion, to address this issue while using the internet as a source would be at the George Mason Unversity’s Mercatus Center who recently released the website StimulusWatch.Org.

If you desire to take a more direct approach to tracking the funds you should visit ShovelWatch.Org.

eTrade and the Recession

I have been intentionally over-paying those little everyday expenses like tipping and things like not using the local ‘insider’ coupon clip.

It’s been awhile for me personally since I bought a product online, but supporting eTrade is another way is try to do your little part to shoot some life into the economy while your online.

I plan to buy the next gift for someone special via online.

Net-Trade is complex for the ordinary consumer to understand but there are multiple ways to support domain hosts, web loggers, local businesses and local markets.

Change starts at home.

Making your home more energy efficient in every way possible is a sound investment. Energy costs are not likely to drop in any foreseeable future.

This is just one of many steps I suggest you take to affect real change in your local environment and community.

The federal government can only do so much. Each bailout and stimulus they devise will ultimately fail if the Consumer Markets do not participate.

We need to take the time to educate ourselves enough as citizens to better understand our role at this stage in our national economy.

We all can make some difference.

We all can effect some amount change within our respective spheres.

Boom and Bail Economy

Boom and Bust” economies are easy enough to understand but I wonder if many Americans have come to have a grasp on what exactly this previous economic model that hopefully will be forever trashed exactly is and should be termed.

Boom and Bail” as coined by Naomi Klein.

We all on a “economic-boat.” Certain people aboard created holes of corruption with their corrupt practices.

As we take on water and the earnest crew members try to salvage the situation there is much need to look around at those we pass the buckets to.

Which of them bore the holes? Which of them would yet still commit folly at the heavy cost to us all?

I threw my lot in with the new captain and I remain behind his strategy.

We are the most epic and monolithic vessel ever to sail these seas. Our efforts would only naturally appear preposterous and outlandish to our counterparts who suffered the same storm as we.

We must remain steadfast. Do our bit and make our voice known.

Nothing more. Nothing less.

Allowing the Boom and Bail Economy to repeat its course would result in nothing but a trip to the bottom of the ocean.

The R-Word

Recession; In the span of no more a few months the word is now ‘fair game’ in America.

An American Recession, no less. After only a handful months these two words can be freely connected in advertisements and in public media formats.

This after a time in which any Democrat or liberal spoke of a coming recession they were dismissed as ‘kooks’ and ‘doomsayers.’

I was one of those ’doomsayers.’ And I was right.

While the prevailing wisdom is to downplay a sick economy and a weak dollar I do not believe this to be the correct course of action.

If the economy is sick, we should know about it.

If the dollar is about to drop, we should know about it.

If a stock is about to devalue, we should know about it.

And on, and on.

I believe that one of the reasons we have suffered this recession is due to this very mentality combining with the ‘greed is good’ mentality.

A broadcaster, a stock quote broker, a banker or an economic journalist has no benefit to being truthful to their audience and every benefit to simply remaining mute. Or worse yet, talking up a business, stock or concept that they know to be unsound.

The idea that saying into a camera or many media outlet the raw truth of the economy as being a detriment to that economy is false.

The investors and consumers need to be able to make informed decisions. If those trusted to give honest and credible advise are proven to simply communicate in a ’one answer only’ situation then the reality of market hazards remain the sole property of those already succeeding in market endeavors.

Leaving us, the common people, out in the rain.

 

Eric Lightborn

http://ericlightborn.blogspot.com

March 29th 2009

Caps-Lock Engaged America

“populist outcry”

“socialist agenda”

“economic outrage”

We are hear these words connected in the Big Buzz of the Media, lately.

We live in a state of economic chaos. Right now, today.

As an internet-blogger I call this state we exist in “Caps-Lock Engaged America.”

My need to translate everything into internet terminology is no doubt why I prefer this way of describing the current state of affairs in America.

These pundits and talk show hosts of the right wing seek to drum up fear in the public, nothing more.

In the absence of logical arguments they simply wish their audiences to suspend all logic and proceed to believe in conspiracies.

The left wing is busying itself with AIG-Hate while shunning these new Populists as madmen and radicals. We are neither.

These are the very same kind of ‘madmen’ and ‘radicals’ who helped to form the Democratic Party of our day, but I digress.

There is no shame in being upset. But direct your anger.

President George W. Bush spent this country broke as if it was his personal play-thing to abuse and mistreat as he would.

One of the primary functions of a President of the United States of America is to be a Steward of the American Economy.

The previous President not only failed in this, he failed so miserably that his actions in this area specifically are in fact criminal.

President Bush had an obligation to use his position to inform America of the coming recession. Yet he joined in the chorus of conservatives who claimed all was well in the economic seas.

The ’proper’ blame doesn’t stop there.

The major leaders of financial institutions, those chairing relevant boards and countless figures in the media all failed in this exact same respect. 

These individuals had a duty to the American public to inform them of an impending crisis that would directly effect their home life and personal budget.

These individuals knowingly withheld information from investors and consumers in a clear effort to destroy any chances we had at mitigating the coming storm.

Some moved funds into bonds instead of stocks. Some transferred funds into foreign currencies. Some bought precious metal portfolios.

But many more simply did not know or would not listen to those like myself who warned of this coming American Recession.

 

Eric Lightborn

http://ericlightborn.blogspot.com

March 29th 2009

Anarchism Versus Populism

Ever reviled, accursed, ne’er understood,
Thou art the grisly terror of our age.
“Wreck of all order,” cry the multitude,
“Art thou, and war and murder’s endless rage.”
O, let them cry. To them that ne’er have striven.
The truth that lies behind a word to find,
To them the word’s right meaning was not given.
They shall continue blind among the blind.
But thou, O word, so clear, so strong, so pure.
Thou sayest all which I for goal have taken.
I give thee to the future! Thine secure.
When each at least unto himself shall waken.
Comes it in sunshine? In the tempest’s thrill?
I cannot tell — but it the earth shall see!
I am an Anarchist! Wherefore I will.
Not rule, and also ruled I will not be!

                       – John Henry Mackay

I draw your attention simply to the first nine lines of this quote, and have included it in it’s entirety for a full perspective.

I believe we have suffered this current Global / American Recession in a large part to the economic strategy of ‘greed is good’ and more specifically the enactment of Anarcho-Capitalism in our banking, mortgage and credits markets the United States of America.

A lack of sound order and a lack of logical policies, will only ultimately lead to a lack of accountability from authority.

A populist does not reject authority, or rule, outright. Rather a populist is prone to ask:

“By right to do govern? Whom do you serve?”

While I will express a degree of fondness for Pure Anarchism in which all property is outright theft … I find the whole ideology unworkable and only expressly attainable in small, sustainable, isolated communities. Much like Marxism is all looks good for an intellectual discussion and quid-pro-quo debating but in a real world setting the whole underlying concepts quickly become revealed as nothing but an ideologist’s dream work.

America of 2009 needs real solutions and not simply an outpouring of sentiment to ’make AIG pay you back’ but rather a hopeful outpouring of people willing to listen. People willing to engage.

The Presidency of Barack Obama is a stepping stone in a much larger and much longer road.

We must begin to demand the highest standards of our leaders on both Wall Street and Capitol Hill.

It is not not wrong to want justice. It is not wrong to want fairness. It is not wrong to question authority.

I am a Populist! Wherefore I will.
Not to rule, but to question the value of our rulers to us.

Media Bias Effects You Everyday

Let’s talk about the news media:



A lot of people on the internet are highly active in political commentary, but there is much to consider in the realms of social policy and being more than just a mere echo-box for party-line agendas.

In an article on The Huffington Post, Colin Powell addresses the nature of Rush Limbaugh doing harm to the Republican and conservative movements.

I am no fan of Limbaugh but I want to be very clear about the nature of my distaste. Limbaugh is by all shades of the definition a “master broadcaster” that is highly professional in the manner in which he handles material.

I would challenge anyone to say the same statement about Powell’s endorsement of Obama in different words and not sound explicitly racist in the process. Limbaugh has way of taking the hurtful and hateful and converting it into somewhat-tasteful baloney.

The title of “master broadcaster” is not shared by his clones within the radio media, by my estimation. Slander and false claims don’t amount to anything but a waste of everyone’s time.

Then we return to the concept of why we should care about media figures and what they say or do. No matter what your political leanings are if you have some then you are doing yourself a disservice by viewing only media that agrees with your core values.

I can be made extremely angry by comments made on the radio but I can also turn it off.

We have “freedom of media” in this country which means it is up to you, if you vote, to get the real deal story and not just buy what they sell at your political party gift shop.

This is far easier to start than you think. Just start taking time to consider how much of each side you have heard in your day and attempt to fit the opposite point of view through the media into the end of your day.

Local radio hosts tend to be less biased than national on both political sides, try tuning in to your local AM stations.

Failing everything else you can just click between Fox News and MSNBC instead of locking-in to one or the other.

If anyone thinks this issue is extremely unimportant or bad advise I say to you that we killing this country in partisan politics mainly because of the absolute loss of perspective from slanted media on every side.

We will lose this country with these attitudes, if not for yourself then certainly we must do this for our children.