Bear Wisdom

He’s been wrong and lying since 2005.  Back then he was looking and sounding very confident, as the truth was still concealed.
The lies are now falling apart.  Now he’s looking like crap, worn out, dark bags under his eyes, stuttering, and not sounding confident anymore.  And, he’s even lost his memory as he has forgotten [...]

Bernanke in hot water
Top Republican, Darrell Issa from the Oversight and Government Reform Committee said today, said that the Federal Reserve wanted to hide its involvement in Bank of America’s acquisition of Merrill Lynch as Merrill Lynch’s financial condition deteriorated.
The Fed “engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger [...]

Earlier in the year, the Obama administration forecasted that the unemployment rate would peak at 8% before beginning to fall toward the end of 2009.
And Now……. yesterday, the president stated that the US unemployment rate is likely to rise to 10% in the next couple of months.
“I think the president has said this, and I [...]

US defaults rose to record highs in May, with a sharp deterioration from Bank of America, as defaults rose to 12.5% from 10.47% in April.  Credit card defaults tend to follow the unemployment rate, so this rise in defaults should continue throughout the rest of this year.
Insider Trading:
I guess our politicians really do have [...]

Ben Bernanke fired his last bullet in March by monetizing America’s debt.  Following Japan, and the UK’s example, Bernanke thought it would be a good idea to print $300 billion dollars and purchase our own debt.  He did this in an effort to keep mortgage rates low, around the 4% level.  However, this strategy is [...]

Another 345,000 jobs were shed in the US during the month of May.  Although the number was well below the expected 525,000 expected, unemployment still rose to 9.4%, and the U6 rate is at 16.4%!
Consumer credit down by $15.7 Billion
Borrowing by US consumers fell by $15.7 Billion dollars, the second biggest drop following March’s adjusted [...]

NOW Bernanke is saying that the US has to reduce the nearly $2 Trillion dollar deficit… hmmm, first he and Paulson, and now Geihtner spend Trillions of dollars on their various bailouts, lower interest rates to nearly 0%, and spend Billions of dollars on their stimulus package, then Bernanke starts quantitative easing in order to [...]

Last February after he got his new job as Treasury Secretary, Geitnher attempted to sell his New York house for $1.635 million, as he was heading to Washington.  After a few unsuccessful weeks on the market he lowered the asking price to $1.575 million, which was less than what he paid for it.
He eventually rented [...]