Ask Ben Bernanke | Swampland

I’d solicit your questions, but Steve over at Curious Capitalist already did it better:

Nearly a year ago, TIME magazine named Federal Reserve Chairman Ben Bernanke our Man of the Year. Even if you didn’t like the pick, you have to agree that Bernanke was a big player in both the government bailout of the US economy last year and in steering the recovery, for better or for worse, this year. In the past few months, he and the Fed have come under intense fire for their recent efforts to boost the economy. Some have even said Bernanke’s moves might spark a Civil War. (Unlikely). Just one sign of the rising ire for the Fed: A web cartoon of two bears bashing QE2 has gotten over 3.5 million hits. The video came up at my Thanksgiving dinner. Also, I can write QE2 and most of you know what I am talking about.

Well, a year later, the Bernank, as the cute bears call him, will be back in TIME, and he will be taking your questions. So if you have a zinger for the Fed chairman that would ease your fears about Quantitative Easing, or if you just want to hold the Bernank’s feet to the fire, here’s your chance. Click on this link to our 10 Questions blog and submit your question for Bernanke. If your it is selected you will see your name and question in TIME magazine as well as Bernanke’s answer. Here’s my question: Just how cute does he think those bears are? Has he seen the video? Oh Ben, you’ve got to watch it. It’s hilarious. As you can see we need all the questions you’ve got.

Audacity of Dope: Tales of a Toking Teenage Obama

We knew Barack Obama smoked weed in high school because he wrote about it in his books. What we didn’t know until Buzzfeed posted these choice nuggets (I’m so sorry) from David Maraniss’s new book on the President’s younger years, is the giggle-worthy details of his “Choom Gang” lifestyle, which are right out of a buddy stoner flick. Obama and his friends drove around the lush Hawaii countryside, hot-boxing their VW bus and re-upping with a long-haired pizza-tossing dealer named Ray, who Obama thanked in his yearbook “for all the good times.”

Obama Stumbles? Why the President’s Right to Talk About Bain

The meme of the day in journo-world is that President Obama has stumbled at the outset of the general election campaign. The evidence for this? Well, uh, there isn’t very much, really–except that a few Democrats have criticized his campaign’s attacks on Mitt Romney’s record at Bain Capital and that Obama’s fundraising is merely humongous, instead of obscenely humongous. The two phenomena are linked, of course: Obama isn’t getting the usual haul from Wall Street because he has outrageously–outrageously!–tried to regulate the bankers who did so much to crash the economy in 2008. The handful of Democrats squawking are people who either (a) get money from private equity firms or (b) have retired and joined Mondo Casino. But there is another side to this story:

trifecta55

How about asking him if when he and the fed gave money to firms not in trouble at basically zero interest in order for them to invest it at 40% profit without actually hiring anybody was that fun?
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Oh, you can also ask why McDonalds needed money but the people who work there flipping burgers and those who survive by eating off the dollar menu there don’t need much?
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Seriously though, I am sure you will ask him questions about bears and stuff. I am being serious btw.
deconstructiva

Since Helicopter Ben spends a lot of time at CNBC, ask which anchor is the hottest: Becky Quick, Erin Burnett, Trish Regan, or Mandy Drury? (tough call but I’d vote for Mandy)
deconstructiva

Ask Ben if he’s still p1ssed off at Jim Cramer for saying “He has no idea!” back in 2007. I bet Bill Poole still won’t speak to Cramer or send Christmas cards.
http://patricksartor.wordpress.com patricksartor

Are Jim Cramer and Glenn Beck related?
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Even my conservative uncle, a retired stock broker is not a big fan of Jim Kramer.
gysgt213

Ask him if there really is a Santa Claus. We could use one right now.
http://patricksartor.wordpress.com patricksartor

Deflation occurs when:
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Products on shelves are sitting there so long that the store selling them is going out of business and sells goods at 0% or near 0% markup leaving no money or very little money for continuing to pay employees and the lease on their space.
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Other stores, in order to get in on the action must lower prices to that near 0% markup level and be put in a similar situation.
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The surviving stores will only buy from wholesalers at a low price, forcing wholesalers to have close to 0% markup causing them to be unable to afford employees or rent. Many close.
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Wholesalers do the same to manufacturers.
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Now, with layoffs from stores, wholesalers, transportation and manufacturers, prices go further down with more pressure on businesses.
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Since workers can not take large pay cuts since they will not get discounted rent, mortgage payments, car insurance payments or the like, employers exclusively lay people off and do not even maintain many part time workers or workers at a lower salary.
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Of those who are not laid off, they respond to the price change.
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So, if you are a bright consumer and you see in month #1 that the price of a new computer is $500, month #2 $505…. month #12 $600, you would buy right away before the price goes up higher. That is during inflation.
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During deflation when the price goes from $600, to $599…. $502 in month #12, to be wise, you hold off buying even longer until the price gets lower. This makes the situation worse.
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So, supply and demand of money.
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If there are more USD per any good or service, then prices go up. If there are not enough USD, one has inflation.
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If joblessness and falling home prices cause deflationary pressure, then increasing money supply undoes this. It makes consumers buy now and not later. It makes sure that markup remains the same or higher keeping those employed from losing their jobs.
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Bernanke is doing what the Fed is expected to do during deflationary pressure.
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I don’t see what all of the hoopla is about.
liberalmeltdown

That’s because Cramer is a Democrat. He is friends with Elliot Spizer. You are a dope.