This shows what is wrong with 60 Minutes. Too much useless background, no in-depth questions. Lot’s of “why’s.” Almost like something you’d find on Sesame Street. Useless.
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He sounds like he is scared to death. He looks good but his voice is breaking. And, he isn’t really answering the questions.
I pray he is right but I fear he isn’t. I would like to be wrong, this time.
Appropos of the last No Agenda, a book that should be in the Book Club and that deals with CBS News is Kristina Borjesson’s “Into the Buzzsaw”. In its way, it’s counterpart to “Confessions of an Economic Hitman”.
Fascinating.
Those of us who have video blocked at work will have to assume so, anyway.
This is turning into a video blog. Saves having to think much about what you publish, I guess.
[As I look on this page right now there are 15 posts, 5 are video posts. So by your math this makes it a video blog so you can make a snide comment. Well done. Why don’t you spend more time changing the online policies of your corporate overlords rather than carping at us. — eds]
I consider myself to be a news junkie but I notice now I will jump 5 minutes whenever a government/business/union speaker is on until a guest/analyst/real person is presented that has something to say? 60 minutes of news is taking up less and less time as I’ve heard it all before. The double speak, the adhering to vested interests/party line, the refusal to answer the question. As kabuki theater it is better than the Japanese stage, but only barely. But as you say, parallel to all this and constantly present is the observation of what a completely incompetent job our press does.
When the first amendment is taken from us, it really won’t make any difference.
For grins, I googled (bernake transcript 60 minutes) and got 333,000 hits.
But I for one only speak Urdhue and request that DU publish in that format.
3 & 5
Video is not blocked here where I work, but I generally have better things to do than watch for 15 minutes, and I’m still of the old school that believes, for the most part, computers should be seen and not heard.
This IS becoming a video blog. The good part is that I can skip over much of it and therefore save time. The bad part is that I miss out on some things.
Now for Bernake on 60 minutes. I heard it on the radio. No particular surprises. He actually sounded rather straight forward to me, but then again, I was an econ major. :).
#6–spiffy==an econ major? REALLY? Wow would I like to buy you beers until you punched me out.
He sounded straight forward to you huh? You mean where he said he completely missed the run up to the meltdown? Yea, that was straight forward.
You mean how he recommended something other than bailing these patent fraudsters out without any strings or conditions?===Oh, thats right, he didn’t say THAT.
Might fine distinctions you Econ Majors have there: No time to watch a video, but ok with the audio? I’ve heard that psychopaths can’t look people in the eye.
Yes, total failures still in charge.
Watching an Empire die is never pretty.
He came off rather well in the interview overall, but his claim that we’re not printing up too much money & that the money supply is relatively steady doesn’t ring true. Maybe they don’t need to actually “print” the money on paper any more? So are they generating e-dollar$ out of thin air? Are we spending borrowed e-dollar$ for our bonehead wars in Afg. & Iraq? If so, then we really are sunk.
It’s not useless. Without 60min we wouldn’t had a great laugh with Sarah Palin. That kind of stupid is priceless.
Very soon there will be no money.
All the ridiculous electronic international
transferance of account zeros will not stop the coming
absence of funds.
Start growing your own food now and threaten
a global warmist now, they are organising.
Damn! Harvard, MIT & Princeton!
And he’s still an economic illiterate who can’t tell if there is inflation or not.
Or is he just not willing to be honest about it?
I suppose that most of the viewers of 60 Minutes will be just as ignorant as he is so will probably not know how wrong he was.
They might notice however, that he is REALLY NERVOUS if not on the brink of panic.
So, if the point was to convince the unwashed masses that we really need the FED to exercise god-like power over the economy because they are so wise and competent and have our best interests at heart, it was a big FAIL!
The bit about not printing money was cute though.
He is right, they don’t literally print it.
For the two or three of you who really want to know:
http://lewrockwell.com/lewrockwell-show/wp-content/uploads/175_Wenzel.mp3
#7 Clarification. I don’t like wasting time while I’m sitting at the desk, at the computer, listening/watching long videos. The audio for 60 minutes is broadcast on the local CBS radio affiliate here, and I was listening while I was out for a walk.
Oh, and I don’t really fault Bernake for missing the run up to the meltdown. Damned near everyone missed it. Heck I’ve been predicting a meltdown since the Regean administration, I got really hot about it the first time I heard about an “interest only” mortgage. That would have been about 10 years ago.
But after crying wolf long enough and things seem to keep defying all logic, you start to think that perhaps the loonies are right, so you shut up and get on with dealing with what is rather than what should be. I never doubted that the “reckoning” would come, but since it was at least 20 years late, I stopped waiting.
Oh, and bye the way, I don’t drink in bars anymore, and I don’t recall ever punching anyone. But DO watch your step as you stumble past my outstretched feet on the way to the pisser…..ooops!
I want to see the math for the no inflation going on. Everything except housing is up.
#15–spiffy==you say: “Oh, and I don’t really fault Bernake for missing the run up to the meltdown.” /// You have very high standards for experts. Only an expert can be blind to what non experts see clearly. In fact, the error is so eggresious, I doubt there was any failure at all. Bernake and all others, ESPECIALLY THE EXPERTS ((which in this case is the entire relevant team)) have to prove with exceptional evidence that it is their abysmal ignorance or FRAUD should be assumed. Yes JAIL!! Yes, recapture/reparations!!
Its bullshit to think someone is “innocent” when they personally benefit from a fraud. Tell me another one while pulling on my finger.
Current inflation rate is actually “down” compared to longer trends:
http://inflationdata.com/inflation/inflation_rate/currentinflation.asp
Facts are niggly things. Perhaps an expert can tell us how its more expensive to shop for groceries but inflation is going down? Home prices? Gas?? The unemployed staying home??? What is normally “hidden” from common perception in the cpi?
Whatever. With deficit spending inflation like a shifting tectonic plate will eventually release its stored up energy and wreak havoc that could have been avoided or lessened with some honest politics.
We are all doomed.
I never watch 60 minutes. Once they “report” on a story close to you that you actually know about, you can see what an incredibly bad job they do of reporting the facts. Really, they are just trying to push an agenda and sell advertisement.
Bernanke seems to be having a panic attack… and he’s head of the US branch of the global banking system (The Federal Reserve). So does that mean we’re f’d? Probably.
BTW… unemployment is actually at 23% using the ‘real’ numbers.