Discussion w Bernanke about QE & ?Gold is money?

Here's a quick vid about gold as money Quantitative Easing (QE1 & QE2) by the federal reserve in congressional meeting with Chairman Ben Bernanke. http://www.youtube.com/watch?v=2NJnL10vZ1Y

(Ignore the extra commentary and links to political stuff.)  
I think that Big Ben is doing a pretty good job giving the circumstances (the federal governmental hasn't and won't do its job related to taxing and spending in a sane way without continual and perpetual deficits).

Video: July 13, 2011 - Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.

It's a Mad, Mad World out there in Econ & Finance

We live in unprecedented times!

I don't know if you have noticed this, since you've been a little busy with a rather intense 4-week class, but the markets have gone nutz!:-)

You all need to take control of your own financial future. I highly recommend Jim Cramer of Mad Money. You need to watch it online or tape it (some of it is a little obnoxious). If you watch nothing else, watch the first 5 minutes of each episode. See today's episode (Sept 22, 2011) about one of the ugliest market days in history: http://video.cnbc.com/gallery/?video=3000047012

As the coliseums of Europe crumble (Greece of the PIIGS countries could/should default in the next week or so), encouraging the crash of our stock markets, the talking heads talk endlessly. Portugal, Italy, Ireland, Greece & Spain. Greece public works will be striking all week (expect more riots) as the country tries to save itself by raising taxes (killing the economy even more) and cutting spending (especially the massive government employee base and overly generous Gov. pensions).

Cramer has been there, and says it like it is. He invests with an "open hand" for his charitable trust and gives unbelievably good advice for individuals who need to manage their own wealth (and build wealth). When a market day is very strange he is one of the only people anywhere who will tell it like it is (either because of other agendas or because of ignorance or both?) [How did it become that bad news is news, and good or no news is not?]

In the meanwhile, corporations in the US are hugely profitable. They hold more cash on the sidelines than any other time in history. Our economy is back bigger than it has ever been. Unfortunately, corporations are more efficient and global so this economic growth has been done without a rebound in employment:-(

Unfortunately, the Federal Reserve Chairman Bernanke's comments this week has caused investors to panic. Quick summary including Fed statement: http://www.reuters.com/article/2011/09/22/usa-fed-idUSS1E78L18M20110922

This is unprecedented times we are in...

They are fascinating times as well.

I think that we are far better off than the talking heads would have you believe. But, if everyone starts to agree with the gloom and doom and every consumer (consumer was about ~70% of our economic GDP in normal times) hides at home in the closet, then I will certainly end up being wrong.

Right?

Wild times in the Stock Market.

Wild times in the Stock Market.

Really ugly daze in the Stock Market. Bernanke comments that we might do a recession, again, and the US markets went south for the winter.

It would be nice if Europe would get its act together and solve the sovereignty debt problem. Let's at least fix Greece or let em go bankrupt, one.

More on these subjects soon...