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


By REpro   Follow   Fri, 10 Feb 2012, 2:47pm PST   1,209 views   7 comments   Watch (0)   Share   Quote   Permalink   Like   Dislike  

"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

Comments 1-7 of 7     Last »

grinderman   befriend   ignore   Fri, 10 Feb 2012, 4:04pm PST   Share   Quote   Like   Dislike     Comment 1

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

bubblesitter   befriend   ignore   Sat, 11 Feb 2012, 5:24am PST   Share   Quote   Like   Dislike     Comment 2

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

Patrick   befriend   ignore   Sat, 11 Feb 2012, 5:44am PST   Share   Quote   Like   Dislike     Comment 3

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.

bubblesitter   befriend   ignore   Sat, 11 Feb 2012, 6:26am PST   Share   Quote   Like   Dislike     Comment 4

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. :)

REpro   befriend   ignore   Sat, 11 Feb 2012, 6:55am PST   Share   Quote   Like   Dislike     Comment 5

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.

bubblesitter   befriend   ignore   Sat, 11 Feb 2012, 7:05am PST   Share   Quote   Like   Dislike     Comment 6

Classic American success story. LOL.

xenogear3   befriend   ignore   Sat, 11 Feb 2012, 8:35am PST   Share   Quote   Like   Dislike     Comment 7

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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