Ben Bernanke, the former Federal Reserve chairman, was awarded the Nobel Prize in Economics on Monday for his in 2008 after he boasted a long losing streak of making wrong economic forecasts and misreading the economic tea leaves.
(Bernanke’s win is a reminder that President Barack Obama won the Nobel Piece of Shit Prize in 2009. Obama, was, of course, the president who said he is “really good at killing people.” The former president praised Bernanke for taking “bold action and out-of-the-box thinking.”)
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In a CNBC interview, July 29, 2005, the Harvard-graduated, former Princeton Professor of Economics, Fed chairman was asked:
Q. “Tell me, what is the worst-case scenario if we in fact see [real estate] prices actually come down substantially across the country?”
A. “Well I guess I don’t buy your premise. It’s a pretty unlikely possibility; we have never had a decline in house prices on a nationwide basis.”
Speaking before Congress 18 months later (28 February 2007), as the subprime mortgage fiasco deepened, Bernanke said: “There is not much indication at this point that subprime mortgage issues have spread into the broader mortgage market which still seems to be healthy.”
Gregory Mannarino wrote in The Trends Journal: Bernanke said then that the issue with subprime mortgage meltdown was also “contained.” Bernanke’s “contained” played out to be totally false and led to a global financial meltdown—and public bailout of the banks.
Regardless of how many new egregious failures the governmental and bureaucratic nobility add to their old egregious failures, rarely are they held accountable. Instead, they are awarded trophies for the failures.
The removal of The Rich is a hope to stop nuclear war as NATO us doing nuclear drills again in October. As much is made of 3D object printers perhaps UNODOC, SWAT, equipment to remove rich under Anti Terrorism Laws and perhaps that Anthony Blinken. EXXONMOBIL, Texaco, Raytheon. Would be nice if could but as a ddfebce contractor has resources to prevent. Anyway 3D SWAT teams and SWAT trucks would be good U.N. National Security Council Self defence optioncsn be used and Patriot Act as warrant not sure. Yes they think Patriot Act can not be applied to them so.