Spend money – to make money. I thought, we went through that, already.


By REpro   Follow   Fri, 10 Feb 2012, 10:47pm   1,070 views   7 comments
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"It appears the recent declines in housing wealth may be reducing consumer spending between $200 billion and $375 billion per year," he said. "That reduction corresponds to lower living standards for many Americans."

http://money.cnn.com/2012/02/10/news/economy/bernanke_housing/index.htm?iid=HP_River

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  1. grinderman


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    1   12:04am Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike  

    2005 called , it wants it's economic policy back .

  2. bubblesitter


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    2   1:24pm Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike  

    What he failed to explain is,why the out of whack situation from 2002-2007 was necessary? huh?

  3. Patrick


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    3   1:44pm Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike   Protected  

    The situation in 2002-2007 was necessary to mask the vast transfer of income upward from the middle class to the 1%.

    The middle class didn't care so much about that transfer as long as it could borrow to maintain its standard of living.

  4. bubblesitter


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    4   2:26pm Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike  

    Patrick says

    The situation in 2002-2007 was necessary to mask the vast transfer of income upward from the middle class to the 1%.

    The middle class didn't care so much about that transfer as long as it could borrow to maintain its standard of living.

    Oh, I see. Once the banks and some wall street firms started failing burden goes on taxpayers - top 1% escaped. :)

  5. REpro


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    5   2:55pm Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike  

    1% sucked money from middle class to the max through extended hours of labor, outsourcings, debts and bail-outs. Now they don’t have to care what will happen here anymore, because they have enough money to invest in other developing countries and suck them too. Yet, pay only 15% tax here.

  6. bubblesitter


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    6   3:05pm Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike  

    Classic American success story. LOL.

  7. xenogear3


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    7   4:35pm Sat 11 Feb 2012   Share   Quote   Permalink   Like   Dislike  

    He estimates the decline in home prices has resulted in more than $7 trillion in lost household wealth.

    It is a wealth was NOT there to start with.

    It is just like the 1.5+ trillion dollars he printed last year.
    Now he is printing and giving to Europe.

    This is sick.

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