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Edited on Tue Oct-12-10 01:47 PM by breadandwine
Beck has been saying that we have to buy gold from his sponsor Goldline and so he is constantly saying inflation is coming. (Since gold does well when there is inflation. So to sell gold you have to convince everyone that inflation is coming.)
Except for food prices which are jacked up by the selling of grain for making fuel as our only feeble solution to Middle East oil (instead of solar etc.), and the price of oil itself, the fact is that, as liberal Nobel Prize-winning economist Paul Krugman has been saying, we are entering a DEFLATIONARY period that is very dangerous and the cause is too little stimulus, not too much.
Beck is preaching the same "Obama is causing disaster" crap as Max Keiser who personally benefits just like Goldline and they are all full of it. Beck openly says inflation could come SOMEDAY which is not at all how you judge all this.
Again, Krugman says we are entering a DEFLATIONARY period which is very dangerous because he says, correctly, that there should be a slight amount of inflation for if there is truly none, and if there is actually deflation, then everyone doesn't buy anything because they figure it will be cheaper next month and that can kill consumer spending and send the economy into a tailspin. Krugman says the real problem is that there is too little demand for products and THAT'S the reason nobody is hiring, because nobody is selling anything.
Krugman also says that you can't have one-size-fits-all, that we should never stimulate blah blah.
Rather, that we still need to stimulate the economy now (with government job programs he has been advocating for instance) and stimulus by the Fed also helps and the last thing we need now is to come up with excuses to reduce stimulus because "the end is coming."
Krugman acknowledges that we need to deal with the deficit down the road but this is definitely the wrong time to do it and must not be done until the economy is in much better shape. Krugman also says that as a percentage of GDP the amount of interest on the national debt is still acceptable even with all the stimulus. He also says that for all the stimulus FDR spent it wasn't until World War II when government spending really went through the roof that we finally really got out of the Great Depression. Of course, such stimulus could happen right now, with repair of our horribly crumbling bridges and other infrastructure that Krugman has been advocating.
Krugman also points out that after the 1929 crash we still wouldn't have gone into a depression if not for the fact that Hoover followed the crash with the chaser that he decided to be a goody-two-shoes and cut government spending. All this crap about how the Fed can't inject money into the economy is along the same lines as the crap that we can't spend money to hire people and stimulate the economy that way.
The stimulus is not the problem, it's the solution and Obama made the mistake of too little stimulus, not too much. There may be better ways to stimulate than through the Fed but to say that stimulus, whether by the Fed or others, is bad, is absolute balderdash while the economy is so weak and nearing deflation and Krugman says that once deflation sets in it is very hard to stop.
This is all the exact opposite of the right wing gloom and doom mantra that the Fed is evil (being after all socialist blah blah) and that therefore no matter what is happening in the real world, it is always that the Fed is eternally causing inflation (even when it is doing the exact opposite) and so the Fed is COMMUNIST.
BULLSH*T.
The Fed has elaborate mechanisms whereby it works with banks and takes away the punch bowl in good times and serves punch in bad times to even out the economic roller coaster and without these different moves the economy would have fallen into a 1930s DEPRESSION long ago. To hear the Beckians tell it, no matter what happens at any time under any circumstances, any time the Fed stimulates the economy they are making wealth out of thin air, which is BULLSH*T and therefore the END IS NIGH and we need to get rid of the Fed because it is:
COMMUNIST.
These same people are also always saying that if only the Fed would stop taking away the punch bowl in good times, their stocks would go up even more, which is an instant recipe for stock bubbles that lead to stock crashes and depression. Precisely the deregulation under Bush caused the crash of 2008 and the exact OPPOSITE is what is needed: More regulation, more intervention by government, to periodically inject money in or take it out of the economy, and there is no "one size fits all" for government intervention, namely that if only the Fed didn't exist and if only it never took money out of the economy we rich people would make more money, since we are all planning to sell our stocks at the high point, right before the next crash, heh heh, which a great many rich people time wrong anyway, since that is how crashes happen. But the bear sure enjoyed the honey for five seconds before the bees stung the crap out of him, didn't he?
So here's what. Forget about having a Fed to pump money in and out. Forget about the Federal government. Times were GOOD under Herbert Hoover, man and boy!
There have been 4 great stock market crashes in this country:
Panic of 1873.
Crash of 1929.
Crash of 1987.
Crash of 2008.
What do all 4 of these have in common?
They all happened under REPUBLICAN PRESIDENTS.
Why?
Because we don't need no STINKIN FED and we don't need no STINKIN REGULATION !!!!!!!
What's your favorite food?
French fries and ketchup?
Great. PIG OUT and eat your heart out, two truckloads of French fries and ketchup. So WHAT if you puke your guts out afterward! It was good on the way up!
Listen to Glenn Beck. Get RID of Social Security, Medicare, AND THE FED --- THE MOST DANGEROUS COMMUNIST PLOT WE'VE EVER HAD TO FACE second only to fluoridation !!!!!!!!!!!!!!!!!!!!!!!!!!!!
And vote Republican.
This whole thing about inflation coming is BULLSH*T and if the Fed is taking measures that stimulate, then they are merely counteracting the threat of DEFLATION which is damned important. That's exactly what the Fed SHOULD be doing.
But forget about all that.
The Fed is EVIL INCARNATE.
KILL KILL KILL THE FED!!!!!!
HOW DARE YOU TAKE AWAY THE PUNCH BOWL JUST WHEN SOMEONE WAS FINALLY STARTING TO GET REALLY DRUNK AND FALL DOWN AN ELEVATOR SHAFT THAT'S ALL !!!!!!!!!!!!
AND HOW DARE A DOCTOR STIMULATE SOMEONE JUST BECAUSE HE'S FEELING FAINT AND READY TO PASS OUT !!!! IF THE GUY DROPS DEAD THAT'S MORE PEANUT BARS FOR THE REST OF US !!!!!!!!!!!!
And get rid of all government activity!
It's unconstitutional!
Vote Republican.
Have you ever seen an airplane?
It's got all sorts of rudders and fins and propellers that can go faster or slower and which REGULATE the movement of the plane.
FORGET about all that sh*t !!!
Just run the engine full blast regardless of whether you are on take off or landing !!!! All those fins and stabilizers will just slow the plane down!!!! What we need is more varooom, varoooom !!!!!
What could POSSIBLY go wrong with THAT !!
Like the stock market and economy, planes never crash !!!!!!!
Ever see a wild teenager driving around in a hot rod? Who needs speed limits? They're communist! Who needs traffic lights? They're a GOVERNMENT CONSPIRACY !!!! Just let that kid FLOOR THE GAS PEDDLE and run everybody over !!!!!! For the greater good !!!!!!!
FLOOR that mother fuggin son-of-a-bitch !!!!!
And get the government outa my face !!!!!! It's MY money! I stole that money fair and square !!!!!!!!!!!!!
From stupid non-rich Democrats who were too stupid to steal the way I do.
Here's what. First I will steal all of YOUR money and then when you're out of money YOU can steal all of MY money! Isn't that only fair? First my company drives you out of business so I can make more money. Then AFTER your company goes out of business, YOUR company, which doesn't exist anymore ANYWAY, can steal the money BACK from me! ONLY I GO FIRST !!!!!!!!!
Greed works!
Government stinks!
Times were GOOD in Dodge City!
Times were GOOD under Herbert Hoover!
Vote Republican.
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