Tom Ford

Recession, Not Depression

Lok, I also agree. If that ass Bernanke hadn't raised the interest rate 11 times in 17 months based on perceived "inflationary pressure" from overseas we would not be in the position we find ourselves in. Thanks for your insight.

'Helicopter Ben' Was Prophetic in 2002

Bernanke didnt figure what would happen when he raised the fed discount 17 times in 11 months. What an ass! The reality is that he derailed the entire economy. Where do you think all those people are going to live now that they are losing their houses? Housing is esential. Greenspan wasnt wrong. The economy is like a slow moving freight train. Slow to go up and slow to go down. When he raised the rates so quickly he derailed the train and like humpty dumpty you cant put it back together again. Give everyone thw ability to borrow on a home loan at the 4 to 4.5% range and it will give people the faith in the system to start buying again. It may take awhile but it will recover. Dont just help the ones in foreclosure but set the rate for everyone that is willing to buy a home. The housing floor will be st the day thats announced and will recover from there.