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

By REpro   2012 Feb 10, 2:47pm   ↑ like   ↓ dislike   1,686 views   7 comments   watch (0)   share   quote  

"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

#housing

Comments 1-7 of 7     Last »

1   grinderman   2012 Feb 10, 4:04pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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

2   bubblesitter   2012 Feb 11, 5:24am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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

3   Patrick (408/408 = 100% civil)   2012 Feb 11, 5:44am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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   2012 Feb 11, 6:26am  ↑ like   ↓ dislike   quote   top   bottom   home   share  


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   2012 Feb 11, 6:55am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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   2012 Feb 11, 7:05am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Classic American success story. LOL.

7   xenogear3   2012 Feb 11, 8:35am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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.

Comments 1-7 of 7     Last »

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