Will Ben Bernanke's Warning go Unheard....
By louisehartmann
Federal Reserve Chairman Ben Bernanke issued a warning to Congress yesterday – though they probably didn’t hear it since Speaker of the House John Boehner told everyone to go on vacation this week. Speaking in Cleveland – Bernanke said, regarding the nation’s unemployment situation, “This is unheard of. This has never happened in the post-war period in the United States…The unemployment situation we have, the job situation, is really a national crisis."
He then implored Congress to get to work to do something about it. Since President Obama passed his stimulus package in 2009 – Republicans have blocked every single effort to stimulate the economy – every single one. And today – the President’s American Jobs Act that could create millions of jobs is just sitting in on Boehner's and Cantor's desks waiting for action. Republicans have put going on vacations – launching investigations into Planned Parenthood – and attacking the EPA – all above creating jobs on their priority list.
They don’t care that the nation is suffering. Just like our sociopathic banksters – Republicans are dreaming of a Great Depression – just so they can beat President Obama in 2012.
Comments
#2
Bumper Sticker mode: "I'll believe corporations are people when Texas executes one."
#3
It is too simplistic to just blame the Republicans. The Republicans dominate the government whether they are in the minority or the majority with the full acquiesence of the Democrats. On each and every issue, Democratic Presidents and the Democratic party wash their hands and do nothing. They never put up enough of a fight to make legislation a fair, square or honest deal for the people and the country. When the Supreme Court gave corporations the same rights as individuals, our elected representatives on both sides of the aisle jumped up and down for joy, salivating over receiving unlimited corporate money. In its current form, the government is corrupt and broken beyond repair. As a member of Tom Delay's gang, John Boehner literally handed out checks as well as promises of campaign money to buy votes while voting was taking place on the floor of the House. No Justice Department investigation. No House ethics charges. No one cared enough to pursue the truth and now Boehner is the leader of the House. There is no truth, justice or decency left in Washington, D.C. and the American people don't care either. It's up to the young, university students to try to change this mess. After all, they are the ones who will have no social security or help when they need it.
#4
I agree that Democrats and Obama as the leader have from the start been naive about "reaching across the aisle". This administration has miscalculated; and, because of that, the bullies are in the majority, the blue dogs feel no consequences for their action, and Obama has been check-mated. It seems to me that you cannot try to change politics in DC unless you are willing to admit that it is politics. While it would be great to try to bring civility back to DC, unless, someone is strong, sticks to their principles, and thenm can rally the country,. we will have this chaos. It's personal; and, i don't think Obama is willing to admit that. It's personal for all of us who feel betrayed by his performance. As Roosevelt said, and I am paraphrasing: "The other side hates me. I welcome their hatred; and...." And, he got down and played their game. Of course it was different time; of course, FDR was not the first African-American to be president; and, Obama did have a majority and did have millions of people new to the system behind him when he took office.
#5
Thank you for reading my comments. I know that FDR worked in a different time and under different circumstances. When the Supreme Court in FDR's time tried to block his every move, FDR tried to increase the court from 9 to 15 justices (packing the court). He was, of course, blocked from doing that, but he TRIED something and he pushed for it. He didn't just give up. The heat some of those 1930's justices took forced them into early retirement and allowed FDR to appoint new justices. He led from the front with ideas and concrete actions. He didn't just make a political speech and disappear like President Obama. I don't feel that President Obama believes his own rhetoric and is just faking his speeches. I voted for him, but am at a loss to explain his actions and inactions as President. One labor leader whose union is not going to back Obama this time said: "He campaigned big but he governs small." The country needed more from him than he is willing or able to give.
#6
There is no peaceful end for the Grand Oligarch Partnership.
#7
I must agree with scarrino. Simply to blame Republicans for the lack of testosterone on the Democratic side is incomplete analysis. Like blaming a fox in the hen house. The weakness on the Democratic side has done nothing more than encourage Republicans. Sometimes I wonder if the Dems have not joined sides with the Republicans in some grand scheme the rest of us commoners
can't see.
#8
Republicans have been on a mission beginning the day Obama was sworn into office which was to follow the marching orders issued by Corporate America, Wall Street, and other enemies of State such as the Koch Brothers. They were successful in 2010 by dramatically winning control of the House of Representatives by blaming Obama for no jobs and an economy headed for a depression by simply accepting no blame, despite having totally orchestrated the crash of our economy, and blaming Obama on wanting to take everything away from the white people to give to the people of color. No one seems to have paid attention to the fact Republicans helped ship millions of jobs over seas, blocked every attempt by Obama or Democrats to pass legislation to add jobs or improve the economy, blocked passage of a bill to increase the debt ceiling resulting in a decline in our credit rating. The fact remains Republicans have no choice. They are so bought and paid for they have no choice but do as told or the funds will disappear. The money people are betting all of their chips on winning the 2012 elections to make slave labor legal, eliminate all penalties for destroying our land, air, and water, removing all penalties for corporations caught in fraud, etc. They have only one thing to fear in 2012. That is the possibility enought people will understand what dumb asses they have been in buying into the B.S. and voting against their own interests and comprehend voting for the Republicans is a vote for a Third World Country. The question is will enough Americans wake up and understand they have been used as pawns by the wealthy and the people of color aren't their enemy, women who want the right to an abortion are not their enemy, people out of work due to no fault of their own is not their enemy, children who want a good education are not their enemy, our older Americans who rely on Social Security to survive are not their enemy, and so forth.
#9
Do the arithmetic. A = Republicans fanatically committed to destroying Obama, even if it means destroying America. B = Republicans who have such ideological tunnel vision as actually to believe they're saving the nation and preparing the way toward Millenial apocapalypse, when the chosen ones (including them, of course) will float off to heaven like Charlie in the Wonkavator. C = Republicans calculating the odds that they can slowly strangle every American except for the mega-rich and/or mega-powerful just long enough to win the presidency, at which point they'll pretend to be heroes in releasing their own choke-hold. D = etc.
A + B + C + D = We're screwed.
Unless… Well perhaps unless nothing. Geopolical forces move as they will, same as geological plate tectonics. Build your structures figurately to ride with the former, and literally to ride with the latter, and you'll survive. Deny the effects of global warming, the effects of plate techtonics, the effects of geopolitical "techtonics" …? Well, you're toast. We're all toast. Those who ride above it all in the multinational Cloud Cuckoo-Land of insulating wealth and allegiance only to self? They'll last a little longer. But just a little.
#10
The problem with the Republican constituency is that the voters do not use logic. They do not care what their Republican Congressmen are doing. The vote Republican because to them it is like their religion. They do not think, they believe. Several friends are staunch Republicans, when I attempt to show them the problems their elected officials cause for the nation, they dismiss my facts and tell me that President Obama is a socialist. They have a knee jerk reaction that occurs without benefit of thinking. They are like children without ability to make hard choices. They prefer to be emotional than to be rational. The only hope in 2012 is for Democrats and Independents to reclaim the majority that we hold and vote. We have to make certain that everyone who feels as we do registers to vote and votes. In several states that are dominated by Republican's in the legislature and Republican governors are passing laws that are aimed to make it more difficult for poor people, aged people, disabled people, college students, and for some minority groups to register and to vote. We must counter those actions with progressive voter registration and get out the vote efforts. The Republicans are mad. They are mad because a black American is sitting in the White House. They cannot stand for him to be successful even if it means that American unemployment remains high. We have to take the high road and make sure every vote is counted and that every vote counts.
Philip Henderson, ethical magician and oxen teamster
#11
Priceless Mr. Savory! Are you the author? If so, I can put your name behind it in my collection of quotes.
Unlikely that those money-stuffed shirts give a damn about the rest of us. They don't need us. They have the corporations, which earn 2/3 of their money from us and more likely ALL in the form of corporate welfare (don't such people look down on humans who take welfare?). Congressional rethuglicans are just there to protect the corporations from the people (who produce and purchase their products/services). How oxymoronic since corporations are supposed to be people. I'm dumbfounded by the illogic and the stupidity and the unethical and undemocratic nature of the problems and destruction unleashed by this ruling.
Dylan Rattigan has a petition at getmoneyout.com to get money out of politics. Please, everyone, visit, sign it and post it on FaceBook/Twitter/LinkedIn, etc and send it to everyone you know.
Are we ordinary flesh-and-bone humans allowed to give unlimited amounts or are only the corporations permitted that privledge? Anyone know that answer?
#12
Dear friends.. I'm utterly amazed over the complete and total lack of any political or moral ethics and the blatant outright lawlessness that's become just another day on the hill. With conflicts of interest an everyday occurance and open cronyism the way to go to cap off there political career and with all this corporate cash flying around, the only one's smiling are the elected officials their lawyers and the thousands of " consultants & Lobbyists" that are lined up around the block waiting for there turn to pitch their new found friend .. What the hell has happened to our once great nation and the political process that we were so very proud of? How in the hell was this allowed to unfold? We did not just wake up and find it this way. This was a well planned out long slow process. I truly believe in my heart that this final phase were now in was set in motion off of the 2000 presidential election that we now know for a fact was a coop and anyone who think's otherwise is naive at best. But what is really horrible about these people is there lust for more. Just look at the value these people place on human life. You say Democrates and Republicans are alike, well they are exactly the same and being paid very well by the same criminally insane murderers. You keep talking about this War on terror ! Your either Blind and deaf or just completely misinformed. Osama Bin Laden had as much to do with 9/11 as Santa Claus! The facts of 9/11 are so in your face outrageous that I'm ashamed of TH for continuing to perpetrate there fraud on the American public. If only you would take another look at this again you would be amazed at all who took part in it and then benefitted greatly by it .. Just how does a CEO, a family man with kids, home of his own... Not go to the office he's gone to every monday morning for many years all except that one, yet turn up at FoxNews Station to tell the world and anyone else who will listen... that it's Osama Bin Laden and begin his battle cry for war before the first building was turned to dust in only 56 minutes .. folks the facts are out there just waiting to be told .. Hey Thom Tag your it !
#13
Ok, I'm a little confused here. This Ben Bernanke who tells the republicans in congress that our jobs situation is very serious- is he the same Ben Bernanke who punched some computer keys to "print" billions and billions of dollars to give to his republican friends in the banking industry and his republican friends in Wall street? The same Ben Bernanke who told our middle class, "I have to print all this money and give it to my republican friends, or they will destroy you. But if you let me give these billions and billions of dollars to my republican friends, they will help you." And sure enough, once Ben's republican friends got their hands on all that free, give-away money, they did help us. They helped us by illegally foreclosing on our houses. Then, when they realized that we needed more help than that, they hiked our credit card rates from 12% to 29%. Andthen, good Samaritans that they are, those saintly republicans saw that we needed yet more help, so they put "use" fees on poor peoples' debit cards.
You know, with a track record like that, Ben's the guy I'd trust to tell me what America needs. Ok, now the truth: the only thing I can figure out is that Benny boy has figured out that if he criticizes the republicans in congress, his republican friends in banking and Wall Street will be able to somehow steal more money from us. I really, truly, and sincerely can't even begin to believe that Ben Bernanke cares as much about jobs, as he cares about- oh, I don't know- as much as he cares about the South American people that his banking and corporate friends have enslaved to the drug trade.
I think it's interesting that the republican in congress won't listen even to their boy Ben unless he's talking about getting them more bribe money so they can continue to betray America. I guess republican means the same thing as traitor.
#14
You can't make a sociopath care. If you told any one of them that they are a sociopath, they would tell you how loving and kind they are, that they give to charity, and that they are NOT sociopaths, and--- how could you say such a thing? And they would say this with a fake insincere smile, but they would not know that some of us can see right through them. You can't fake caring, if you care, it shows. If you don't, you cannot pretend. They have "theirs" so they don't care if you or anyone gets anything. And, they are paid by the taxpayers, US---- they have salaries, insurance and retirement, all funded by the tax payers. Yet they say that the government is evil (learned from Reagan) but they work for the government and that that is fine and dandy with them. But you, you common people, you get nothing. Go get a job, that is what they say in this economy. If you don't have insurance, too bad for you. Not caring for the poor, the elderly the handicapped, is immoral and unethical. (Yes, there are people who take advantage of the system but that does not erase those who truly need. And, they would say that they are NOT like that but instead they would say that they are upstanding citizens, family people, blah blah blah.
#15
TX come on show Gene, you can do it..........
#16
"no one can predict the moment the revolution will occur", it started in NYC and it is blossoming all over the nation, I've going to LA in the AM.
I've said for a long time, where are the youth, they go to school, they work hard but for what, all that work and its going to expode in their face, global warming and resultant climate chaos, the fruits of 1783 ceded to the few (for the moment ), religion masquerading politics with but one agenda-theocracy/christian sharia.
They, the youth, are stepping up across the nation, quit your whining, support them!!
NYC, Boston, Chicago, LA is online, San Diego in a week
http://www.livestream.com/owslosangeles
Google occupy find a city and go there, no city maybe put yours on the map?
#17
I agree that the official lies of 911 are very outrageously, in-your-face, obvious to those of us willing to open our eyes and minds long enough to parse sense from the psy-ops slop that we are given by the criminals who are in control of our nation. And anyone who continues to think that Obama is different should ask themselves why he has become what he preached against when running for the Presidency.
The futuristic movie "Minority Report" is no longer just a fiction:
"According to the new American Civil Liberties Union (ACLU) report, 'Drastic Measures Required,' under President Obama (who had vowed to create 'an unprecedented level of openness in Government' when he first took office), there were no fewer than 76,795,945 decisions made to classify information in 2010 - eight times the number made in 2001."
"There are layers of secrecy that cannot even be penetrated by most members of Congress. In the recent debate over the re-authorization of three sections of the USA Patriot Act with sunset provisions, Sen. Ron Wyden (D-Oregon), who is a member of the Joint Intelligence Committee, declared in the Senate in May 2011 that there was a secret interpretation of Patriot Act powers that he could not even tell them about without disclosing classified information. [2] 'When the American people find out how their government has secretly interpreted the Patriot Act, they will be stunned and they will be angry,' said Wyden."
"We do know that the use of data mining to assemble a chain of associations and digital linkages could have serious consequences for anyone flagged by an algorithm primed to detect suspicious behavior."
"It is not just the nation's police forces that have been trained to compile Suspicious Activity Reports (now the subject of FOIA litigation). School bus drivers are being enlisted in the fight against terrorism, and 20,000 mall security guards are being recruited to spot terrorists among shoppers, while the DHS' "If you see something, say something" campaign is being expanded from transport systems to Walmart stores, the Mall of America, hotels and the sports industry."
Just what we need....more "Mall Cops" checking us out!
http://www.truth-out.org/nation-suspects/1314810046
They are now using video surveillance cameras almost everywhere to monitor even our facial expressions and in reading license plates. They have RFID chips embedded in our passports, our drivers licenses, our credit or debit cards, and even inside the products that we buy. Buy a shirt or a pair of shoes and that RFID is there to track wherever you go.
Yes, there are the RFID chips that are used for preventing theft...and you can remove those after you buy the product....but I'm talking about RFID chips so tiny they can be weaved into the fabric...or behind a label...inside the heel or sole of the shoes. If you have a shopper's card from a grocery store that gives you discounts for having that card....they monitor what you buy...even if you pay cash...the card gives you away. Discounts come at a sacrifice of privacy.
#18
The fact that the right will do anything to bring down Obama is not simple hyperbole, it is fact. From the moment he entered office this has been the agenda. On both a conscious and unconscious level Obama makes the right very uncomfortable. Too much change makes the "traditionalists" uncomfortable; scared that their way of life is no more. And one of the ways this administration has failed is by grasping the imortance of this fact. Most obvioulsy, the left has lost the battle of words. The talking points of the right dominate the news and information. It is a battle over language and we are losing. We can lament the fact that Obama is no FDR or we can take the lead in crafting the stories we tell about ourselves and our society and encourage the Obama Administration to do the same. I mean it's totally ridiculous for us not to. As many of us know, when we speak we should not repeat the slogans of the right, we should name things as they are. Job creators are not job creators, they are more often than not rich white men. The tea party is not the tea party, they are a right-wing fring group. The right is winning the language war. It's high past time we best them at their own game.
#19
Bernanke's slashing of benchmark interest rates effectively to zero has worked out just fine for Wall Street banksters; hell, it's all CHAMPAGNE and record bonus checks. Ben did his part for his friends and I don't believe for a second he's surprised nothing trickled down. He made the super rich more super rich..... just don't tax them fairly, that would hurt the recovery and be to much like shared sacrifice. What he said the other day, to put it bluntly, is that.... the economic woes of people that actually work for a living is something out of his jurisdiction, let congress fix it.
Thanks to the financial services modernization act the shell game on Wall Street has turned into a legalized stick-up, it's never been easier to loot and steal from hard working citizens trying to invest for retirement. I wonder how many working people like myself have all their savings parked in credit union accounts earning less than 1% due to this. Bernanke's actions have also tremendously hurt people who worked all their lives and have depended on decent CD returns etc. This environment makes conservative investing impossible, forcing many to unwillingly risk money on Wall Street, probably not a coincidental outcome of Ben's policies.
Yes, the Republicans are dreaming of a great depression to achieve their number one objective of removing Pres. Obama from the White House. However, what sweet and divine justice it will be when this objective touchs off a revolution leading to Democratic Socialism, I live to see the look on Mitch's, and Randron's, faces then!
#20
I fully support the Occupy Wall Street protest and wish I could join them. I hope this is the first seed of peaceful REVOLUTION leading to the restoration of democracy.
#21
The Occupation is spreading, coming soon to city near you. Google might reveal that it already has. Outside such direct shoes to the street,
Corporations are not people, http://movetoamend.org/, if you are on these board and have not signed, why?
Same goes for rebuild the dream at, http://rebuildthedream.com/
Time to put the analysis on hold and act!
#22
Obama has brought this all on himself by being a traitor to his base....it's not just all because of the right wingers. If Obama had made good on his campaign rhetoric and showed his base that he was willing to fight..rather than compromise all the time...he would have much higher ratings and would deserve a second term. But the recent "push?" for a Jobs Bill is just a last minute, desperate attempt at more campaign lies. And just how much does one believe that our government is sincere in creating jobs here at home....for Americans...when they hand over the jobs to China?
http://www.npr.org/2011/09/16/140515737/california-turns-to-china-for-ne...
I watched Michael Moore on the 3 hour BookTV interview..I bought his book but haven't read it yet.
Wouldn't it really be great if we got rid of the fake Democrat...Obama...and all of the other Blue Dogs in Congress and turned the country back toward a truely liberal (call it socialist if you want...I don't care..we have to aim high to get an acceptable compromise...a real compromise for a change and not yet another give away to the fascist pigs who currently run the country)? government?
#23
If any of the over 200 bills from the 111th congress under Democratic majority, had ever reached his desk to be vetoed, then I could give you point. That however is not the case, they all languished under the weight of the Senate Republican super minority.
Blame where blame is due.
In any case the occupation has begun!
#24
The OCCUPATION is no rich guy manufactured KOCH-a-KOLA,TEA BAG swindle....it's the reallll thinggggg!
AT THE SAME TIME WE NEED TO END THE RIGHT WING EXTREMIST OCCUPATION OF THE SUPREME COURT ! .....with lawful removals!
#25
That's just the excuse that will convince some that "it wasn't Obama's fault". But Obama was a Republican useful idiot (or more clearly a useful idiot for the ruling elite...the Republicans are as well) from get-go. He could have made some progress...especially early on but he too willingly was more interested in compromising it all away to where we got nuttin' at all. The rich got it all.
Obama is just now making more "campaign" sound bites for all of the sucker fish out there who didn't learn the first time that Obama is not on our side. Action...not talk...is what matters. If you fall into the trap, as Obama hopes, that "you have no other choice (but to vote for him)" then we will be stuck with 4 more years of more of the same. And I am not talking about Republican animosity and obstreperousness (although, I'm sure that will go unabated as well)...I am talking about Obama's actions....or inactions.
The ruling elite will get their 99.99%, while the rest of us starve no matter whether a Republican is in office or a Democrat is. The Republicans are more in-your-face about it but the Democrats (some are still ok) are more back stabbing-promise us anything but give away the store to the criminal ruling elite. Is it really better to have a back-stabbing two-faced liar who pretends to be on our side buy then aids and abets our enemies? Enemies? Yes, it is a war that was started and wages some 30 years or so ago and we are losing. The wealthy are winning.
I watched BookTV lecture by Wall Street Journal Investigative Reporter Ellen Shultz on her new book "Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers".
"Ellen Schultz documents the biggest heist in history, all the more horrifying because it is legal. Accounting tricks, perverse tax incentives, and bonus- hungry executives have taken the retirement money American workers have saved over decades. Meticulously researched and as gripping as a crime novel, this is essential reading for anyone who has, had, or hopes to have a job."
-Nell Minow, co-founder of The Corporate Library and author of Watching the Watchers: Corporate Governance for the 21st Century
Ellen Schultz argues that many employers have plundered employee pension plans over the past decades. She also talks about the crisis this "theft" has created. She tells of a widespread criminally deceptive practice of many companies who drained employee's retirement funds and at the same time funneled much of that money to CEOs and other top execs in bonus and other kinds of compensation. And then if any retirees complain or try to sue...the companies claim that their pension fund is an albatross and would result in bankruptcy of the company if the judge ruled in favor of the claimants. And the judges are often business oriented anyway. Very interesting. It wasn't just Enron....but a widespread practice...and Congress and the legal system almost always sided with the Corporate criminals against the hard working retired employees.
She mentioned the practice of companies hiding their funds in life "Dead Peasant" insurance policies on their employees (getting tax breaks) and then reaping 100% of the payoffs when the employees died and not one cent to the employee's families. Banks were taking out life insurance policies on their depositors for the same reason.
http://blogs.wsj.com/law/2009/02/24/dead-peasant-policies-the-next-big-t...
Having such policies give the companies a very strong incentive to "work you to death" by causing excessive stress...etc. They really are hoping you die so they can collect..and you also wouldn't be able to collect on pensions or social security.
#26
The warning will not be heeded by Republicans. It, however, is a gift from Republicans to be used by Democrats to show independents open to the truth that Republicans are willing to take this country to the brink in an attempt to win the Senate and the Presidency in 2012. The problem is REpublicans are so deeply in bed with Corporate America they have no choice but to accept their marching orders. The consequences of such a win by Republicans is unacceptable. Democrats will get no help from the print media, most radio programs, and most newscasts are controlled by the right. It will take a movement such as occurred in Wisconsin but on a national scale and a reasonable number of Demcrats led by Obama to educate independents and get the vote out by minorities and the under 25 voters to offset the propoganda machine with money to spend at unprecedented level.Corporate America is pulling out all stops to buy the 2012 elections as they did in 2010. If you are over 50, don't have a college degree, can't put aside at least $800,000 to live off before retiring, make less than $200,000 a year, can't afford to pay at least $1,000 each per month for health insurance after retiring, want your child to have a good chance of being educated, need food stamps to get by, have a house under water, want to send your child to college, or don't want your land, air, and water polluted, then you better vote Democrat in 2012. Find out the real truth.
#27
Voting Democrat won't make any difference...except that it will help keep the faithful believers from rebelling just a little bit longer....just what the ruling elite want. The one thing they don't want is for a radically liberal third party to upset the apple cart...which is the one thing we should be trying to do. Just like third world dictators...if they are OUR dictators (controlled by our ruling elite, anyway)...then they are our friends...no matter how ruthless they are to their own people nor whether they are peddling drugs or anything else...so to is the Democratic party....or at least those, like Obama, who are owned by corporate America.
The illusion of a Democratic party protecting us from the ruling elite is not much believed by many people anymore. It is just another tool the ruling elite uses to fool the people while they pig out on the economy and resources and means of production and wealth creation. We either have to try something new, by breaking the stranglehold the of the corrupt 2 party system, or we have to massively rebel in other ways. We are no longer fooled by the slick tongued devils who make promises and then beguile us later on...like Obama has done.
#28
When a tree falls, science shows us that vibrations from the fall can be heard and felt. When there is no hearing and no feeling the consequence, the vibration, have no meaning. NO, Beranke's vibrations will not be heard nor felt, because money (not value) doesn't exist.
The value in being human is being human together. Sharing the planet, the universe, and creation.
I believe Republicans are acting out like three year olds. Learning to talk, seeing how far the boundaries extend, and loosing the temper when they don't get their way. As is evident by their pouting silence and their stubborn aquiesence to childish behavior.
Republicans follow an old ideal, that wealth and riches will get you into Heaven. And, we could thank them (but we won't) for making way for the meek and weak to inherit the kingdom of God.
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