Posted on 03/03/2015 11:06:51 AM PST by E. Pluribus Unum
WASHINGTON (MarketWatch) — Presidents should get the power to declare economic emergencies along the lines to declare war, said former Federal Reserve Chairman Ben Bernanke on Monday.
While the Fed retains the authority it needs to respond to another financial crisis, financial crises “tend to have a certain chaotic element to them,” that no one can predict, Bernanke said during a panel discussion sponsored by The Hutchins Center on Fiscal and Monetary Policy.
(Excerpt) Read more at marketwatch.com ...
Why?
I think Bernanke meant to say: “Presidents should be able to create economic emergencies”.
Getting ready to confiscate retirement accounts?
We used to have a branch of government that controlled the purse strings. But hat is so yesteryear.
This crowd of people does not in any way like self-government.
Presidents should also be able to wear a little mustache, a brownshirt with a diagonal strap, and shout “Heil!”
And Congresses and States should be able to audit the fed.
Presidents can't declare war, asshat.
Ping
Presidents have the power to declare war? Oh wait, that's Congress. Of course they are supposed to be the ones with the power to print money too. They abdicated that power, so I can see why he's confused.
You mean the emergencies they create (with some Congressional help) by having massive deficits and unpayable debt?
401k radar lock-on achieved...
“Presidents can’t declare war, asshat.”
Certainly doesn’t stop any of them from waging it without declaration.
Exactly right! And I'd like see Fort Knox opened up and publicly inspected so America can see just what exactly is stored there. I say it's about time for some real "transparency" in American government.
You mean like.....”Turn in your gold or else”....and/or....we’re just going to take a bit from all your bank accounts.
What an idiot.
The unconstitutional centralization of government power in DC is what has screwed up the economy imo.
In other words, elite crooks long ago discovered that it is better to get themselves elected to the federal government and make unconstitutional tax laws to steal people’s money, instead of breaking into homes and robbing banks for a living. This is why the states need to repeal the ill-conceived 17th Amendment imo.
Yep. His problem is focusing years of graduate study on the Depression—without even quite figuring it out.
If you’ve only got a hammer, everything looks like a nail.
So let them deal with economic emergencies the same way...
;-)
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