Quote Unquote: Occupy Wall Street

Federal Reserve Chairman Ben Bernanke on the Occupy Wall Street demonstrations…

"They blame, with some justification, the problems in the financial sector for getting us into this mess, and they're dissatisfied with the policy response here in Washington. And at some level, I can’t blame them."

Ugh! Disgusting empathetic response to a popular movement. How gross!

Rick Perry should have had the state of Texas burn that guy at the stake when he had a chance.

Tags: Banks, Ben Bernanke, Occupy Wall Street, Protesters, Quote Unquote

Federal Reserve Ignores GOP Legislators' Request to Let America Suck It

Earlier today, top Senate and House Republicans sent an heartfelt earnest plea to Federal Reserve chairman Ben Bernanke to please please please consider doing absolutely nothing to boost the U.S. economy or make any attempt to do anything that might accidentally foster job growth…

Even though the financial markets have been counting on the Federal Reserve to take action, Republican Congressional leadership sent a letter to the Federal Reserve chairman on Tuesday evening urging it not to engage in further stimulus…

"We have serious concerns that further intervention by the Federal Reserve could exacerbate current problems or further harm the U.S. economy," said the letter, signed by four of the top Republicans in Congress: Mitch McConnell of Kentucky, the Senate Republican leader; Jon Kyl of Arizona, the Senate Republican whip; House Speaker John Boehner of Ohio and House Majority Leader Eric Cantor of Virginia.

It's a really inspiring letter. I strongly recommend reading the whole thing. I'm pretty sure that school children will be memorizing it instead of the Gettysburg Address in future generations.

But, you know, that Bernanke guy's a well known treasonist, and you just can't argue with those people. So, he went ahead and announced that the Fed would be buying $400 billion in bonds and selling as much in debt. Which, I'm assuming means something to somebody because stuff happened…

The dollar rebounded against the euro and other major currencies Wednesday after the U.S. Federal Reserve announced new plans to help boost the American economy.

The central bank said it will buy long-term Treasurys and sell short-term securities to help spur growth. The plan could lower rates for mortgages as well as those for consumer and business loans. The plan was expected by investors.

Well, that sounds good so far, but it's still waaaaay to early to tell. Hopefully — and I know we're all really pulling for this — there won't be any significant long term economic or employment benefits to Bernanke's plan.

Nothing aggravates an already dismal national mood more so than having to wake up early on a Monday morning and go to work. Ugh!

Photo by Chip Somodevilla/Getty Images News/Getty Images

Tags: Ben Bernanke, Eric Cantor, Federal Reserve, House of Representatives, John Boehner, Jon Kyl, Mitch McConnell, Republicans, Senate, Stimulus, Unemployment

From the Pork Barrel: Recession Regression

* Ben Bernanke promises a hungry nation: No chickens in any pot! (Also, gimme that pot.)

* For Rick Perry so loved the country that he decided to run for President at great personal sacrifice to himself even though he totally doesn't actually want the job. Amen.

* Mitt Romney blows circuit after human person asks question that wasn't submitted via punch card.

* Newt Gingrich takes break from busy Tiffany's shopping schedule to explain that media, government and academic "elites" are responsible for loss of manufacturing jobs in U.S.

* Republican voters now slightly less disappointed in their primary choices.

Photo by Mark Wilson/Getty Images News/Getty Images

Tags: Ben Bernanke, Economy, Federal Reserve, Mitt Romney, Newt Gingrich, Pork Barrel, Primaries, Recession, Republicans, Rick Perry

Stephen Colbert on Rick Perry's New Treasurer/Colbert Super PAC's Old Treasurer

The Colbert Super PAC shouldn't think of it as losing a treasurer, so much as gaining the lack of a treasurer. You know, silver lining and all.

The Colbert Report airs Monday through Thursday at 11:30pm / 10:30c.

Tags: Ben Bernanke, Colbert Super PAC, EPA, Federal Reserve, Primaries, Republicans, Rick Perry, South Carolina, Stephen Colbert, The Colbert Report, Video

Rick Perry Kinda Sorta Maybe Threatens Ben Bernanke with Violence

Wow! Looks like Texas Gov. Rick Perry is even less of a fan of the Fed than Ron Paul is. I mean, unless Ron Paul has as some point implied that he would beat the hell out of it with a cattle prod…

 

"If this guy prints more money between now and the election, I dunno what y’all would do to him in Iowa but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treasonous in my opinion."

First of all, just so we're all on the same page, when Perry talks about "print[ing] more money between now and the election," he's talking about Fed chairman Ben Bernanke's plan for quantitative easing, which people who are smarter than I am explain as "creating massive amounts of money out of thin air with the hope of getting the economy back on track." That action is, to Perry's mind, "treasonous," as in a "violation or betrayal of the allegiance that a person owes his sovereign or his country." (As opposed to threatening to lead a state to secede from the union, which is just good ol' fashioned common sense.)

Anyway, all that said, Perry was probably just letting his Texas-sized mouth get the better of him, right? I'm sure that his campaign would welcome a chance to walk back the comment at their first available opportunity…

[Perry] spokesman, Mark Miner, emailed [Greg Sargent] this: "The Governor was expressing his frustration with the current economic situation and the out of control spending that persists in Washington. Most Americans would agree that spending more money is not the answer to the economic issues facing the country."

The important thing here is that this is the Perry camp's official considered response — and he is not disavowing the implied threat in his original remarks. Instead, the campaign's position seems to be that this was a legitimate expression of "frustration" with runaway Washington spending — one that other Americans surely share.

Okay, then. I guess they're not walking it back.

I remain confident, however, that common sense Republicans will repudiate Perry's brand of bullying politics…

[A] new national Rasmussen survey has him taking the lead in the GOP primary, far outside the margin of error. The poll shows that Perry is now the first choice of 29 percent of the GOP voters surveyed, with former Mass. Gov. Mitt Romney with 18 percent, and Rep. Michele Bachmann (R-MN) in third with 13 percent.

I said, "I remain confident," goddamnit!

Tags: Ben Bernanke, Economy, Federal Reserve, Iowa, Money, Rick Perry, Texas