 |
 |
Former Fed chief says U.S. now in recession
Reuters
Tuesday, Oct 14, 2008
Former Federal Reserve Chairman Paul Volcker said on Tuesday the U.S. housing market faced more losses and the world’s biggest economy was now in recession.
Volcker, credited for battling double-digit inflation in the 1970s, said the priority for U.S. authorities in the credit crisis is to stabilize the financial system even though that means heavy government intrusion.
“The first priority is to stabilize the financial system. It is necessary even though the cost involved is heavy government intrusion in markets that should be private,” he said in a speech at a seminar in Singapore.
“House prices in the U.S. are still declining. There are still more losses to come there. The economy, I believe, is in recession.”
(Article continues below)
The United States has announced various measures to combat a credit crisis that emanated from the U.S. housing market and which has spread globally.
U.S. authorities are expected to announce plans later on Tuesday to pump $250 billion into the country’s banks following similar concerted measures in Europe to revive money markets and stave off a global recession.
Prison
Planet.tv Members Can Watch
Fall Of The Republic
Right Now Online -
Don't Miss Out! Get
Your Subscription Today!
CANCER CONSPIRACY? Are
"they" suppressing the cure? Will YOU
be the next victim? Learn
the Secret Truth! - READ FULL STORY
-
- Social bookmarks
- Email this article
-
- Print this page
24 Responses to “Former Fed chief says U.S. now in recession”
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | |||||||
| By N2H | |||||||||||||||||||||||||||||||||||||||||
October 14th, 2008 at 6:52 am
The Econmic Money BOMB has already EXPLODED Around the World!
Now We Wait For The FALLOUT!!!!!!!
Hand in Hand = WE THE PEOPLE MAKE A STRONG UMBRELLA! [think about it, my friends]
October 14th, 2008 at 9:30 am
Gee Whiz, Ya think?
October 14th, 2008 at 10:00 am
FDR sacrificed the Economy to save the Dollar.
Bush sacrificed the Dollar to save the Economy.
The process out of our problems will take at least decade.
In the meantime, stock up on *anything* subject to price rises, not the least of which is gold in a tangible form.
October 14th, 2008 at 11:04 am
Yes they finally did it from irrational exuberance to recession. Time for them to change their adult diapers. They are laughing to hard they wet themselves!
October 14th, 2008 at 11:22 am
WOWEEE, I’m sure glad we’re paying these geniouses such huge mountains of worthless paper. We never noticed that gas was costing more, bread, milk, and such, but now that the cost of their child sex slaves has gone up, “We’re in a recession”. What a JOKE! The sheeple that never pay attention will see this as news, how pathetic. I say again, I have learned in my life that anyne that wears a suit is subject to suspect and I watch them very closely. After hundreds of years, we continue to trust and be betrayed by men in suits. Why do we automatically trust someone who’s “nicely dressed” and what is the origin on the tie? Why is someting that resembles and feels like a hangmans noose, given so much authority? Just something to think about. I know that alot of “good people” wear such uniforms, perhaps you should rethink it, do you want to be smeared by these finely dressed scumbags? What does it say when a person wears a suit jacket with false pockets on the outside and hidden pockets on the inside everyday? Think about it. I know it sounds strange, but it makes real sense if you put it in context. If you are good, you deserve better and I trust someone in regular, comfortable, sensible, clothing.
October 14th, 2008 at 11:58 am
What a fucking genius…
October 14th, 2008 at 12:14 pm
Well there you have it! http://www.youtube.com/watch?v=vPS7ksrKk8Y
October 14th, 2008 at 12:39 pm
I believe that there is merit in considering what Eric Whoru has to say in turning the control of the Federal Reserve over to we the people and away from bankers. Please see video at video.google.com/videosearch?q=eric+whoru . It would be difficult to go back to a gold or silver backing but, if we could get away from paying the bankers every time congress borrows it would go a long way to restore sound policy. Also, with congress being the bank ,interest earned from their lending to banks would go to the people . This could end personal income taxes! Everyone curses the bankers but, have no alternatives. This is a positive alternative worth consideration.Check it out.
October 14th, 2008 at 12:41 pm
Funny, too bad we don’t use the Constitution anymore. If we did, just think, it is unconstitutional by the words of the Constitution for the Government or Congress to put up any of the taxpayer public funding for any private business or investment into any private business.
Plus, any new bill that contains any new taxes or tax programs in it, must be reviewed, agreed upon, and passed in the House before it is allowed to go to the Senate. The Bail Out has several new tax programs in it, yet the Senate passed it first (unconstitutional), and the house was threatened with Martial Law against the public if they didn’t pass it.
It is also against the Constitution for a private bank to have control of the issuing of currency.
Yet, even before the bail out, the Federal Reserve Criminals distributed 612 Billion in credits to banks without any notice to anyone. Seems these criminals are completely out of hand and running amuk.
The inmates have completely taken over and are running the asylum.
October 14th, 2008 at 12:56 pm
The sky is blue!
Water is wet!
October 14th, 2008 at 1:01 pm
Greenspan to Paulson, “Oy vey, enough about this recession already, let’s jet to Dubai and toga. My wife Andrea Mitchell of NBC and MSNBC News would not mind at all.”
October 14th, 2008 at 1:12 pm
So, let’s see: The stock market is operating just fine, and we are in a ‘recession.’
Yeah.
October 14th, 2008 at 1:45 pm
Well crap! NOW we are in a recession?! What the hell do they call the last 7 years?? It sure hasn’t been a frickin’ picnic. I don’t know about you all, but the last 7 years hasn’t been that great for our family. Seen alot better times, and now it is just getting worse and worse. WTF
They decided they couldn’t hide it anymore or what?
October 14th, 2008 at 2:15 pm
What a bunch of twits. I’ve been out of a job for over a year. Therefore, I have been in a Depression for over a year. The unemployment rate is twice what the government says it is.
October 14th, 2008 at 3:11 pm
IF YOU VOTE, YOU ARE A TERRORIST.
Cosidering you only have terrorists to choose from, voting for either would be an act of terrorism.
October 14th, 2008 at 3:47 pm
It’s a recession of your mind, everything is fine (-for us). signed Volker & Greenspan
October 14th, 2008 at 4:23 pm
Its totally ridiculous to think that there wasn’t a recession going on in the last 12 months!! We had some very good mortgage lenders coming into my Real Estate Office and they looked so tattered and torn and confused!! These were very noble and good business men who got my clients some very good loans and now they have been literally in rags for the past year!! The outsourcing of jobs and the influx of illegal aliens invading our nation and making it easier for foreignors to get jobs in our Information Technology industry has stolen many of our high tech jobs and has broke our ability to make and produce anything!! All of this is by design so that America can and will fall !! BUT GOD WILL FIGHT FOR HIS CHILDREN AS THE CHILDREN OF THE BEAST WILL FALL IN THE VERY NEAR END!!
October 14th, 2008 at 5:15 pm
when the cronies admit there is a recession they are saying that we are really in a depression. they wouldn’t even admit that we were in a recession when the price of gas was over $4.00 per gallon.
here is the progression:
normal
recession
depression
great depression
they always say that we are better off than we really are. 12 months from now, when they admit we are in a depression, we will actually be in a great depression.
October 14th, 2008 at 5:43 pm
rofl #15 very true, although I think you could still vode third party ie: ralph nader and not be considered a terrorist/traitor.
October 14th, 2008 at 7:03 pm
“The economy, I believe, is in recession.”
Volker figured that out all by himself?
Wow genius!!
October 14th, 2008 at 7:11 pm
Hey I had a great idea you know how people are always wanting to hit the oil companies hard. Well in my way of thinking the best time to hit them is at the same time they are taking it on wall street, right now. Right now people, if we could get everyone to take a three day break and no t buy any gas that would send them a message that we will not take their shit anymore and yes we are smart and we do know when to pull together. That way those pieces of shit don’t sit around thinking of ways to jack the price up artificially ….!!!!!!!!! Huh, you know they’re thinking “Hey we know those pinhead fuckers will pay 4 bucks a gallon, so we gotta give them a small short break, let them thank us, and then jack it back up to 3.99.9 again. If we could get our shit together and send them a three day message right now as they are getting their little bubble bursted, then maybe they wouldn’t jack it back up. Hell in fact they may possible realize we have the power to effect their buisness.
Well if any one out there is like one of those guys who organize shit, organize that, I promise I’ll participate, even if I have to hitchhike to the emergency room or ride my tractor I won’t buy gas, and if we could do it a few times a month and they could see it on their daily/weekly/monthy sales sheets they might just change their tunes. Think about it people, we always want to do the gas boycott thing when they are at their peak in revenues. No we need to do it when they are taking a hit, now, and then again, and again, and everytime the stockmarket takes a hit, we need to hit them, hit hit hit hit hit hit, fuck their record profits, we need to set a record alright, a record low, and then another, and then another and then another. Until they realize we are not to be fucked with.
October 15th, 2008 at 5:47 am
Here’s a simple quiz to explain these troubling circumstances we read about on this website:
Q – What is worse than an organization that is in business solely to murder babies?
A – A nation that makes the organization filthy rich by having their babies butchered
Q – What is worse than a “Christian” preacher with no Bible understanding but a degree in marketing?
A – A nation that will make that false preacher rich and make his church the largest in the nation
Q – What is worse than millions of fecalists who parade their sexual perversion and even publicly display their fecal to mouth perversions?
A – A nation that grants special privileges to the perverts and corrupts marriage by saying fecalism qualifies for marriage
Q – What is worse than political leaders who have interns provide oral sex, lead nations into false wars to murder millions of innocent people, lie repeatedly yet say they are “Christian”, use taxpayer funds to run fecalist sex rings, repeatedly commit adultery, etc.
A – A nation that campaigns for those corrupted leaders and continues to vote them into office
Q – What is worse than musicians who sing of rape, murder, Satanism, human sacrifice, and every other type of deviancy?
A – A nation that makes those wicked musical preachers filthy rich by soaking the trash into their mushy brains
Garsh!!! I wonder why we have so many troubles hitting us!! “Get me another beer, Martha, and turn up the 4-bit thugs, I need to forget about my troubles for awhile. I can’t wait til we get that Muslim guy in office who promises us chains, then ever thang’ll be lot’s better!”
Dream on, stupid, immoral Americans! We are rapidly approaching our demise.
October 15th, 2008 at 7:15 am
well, that’s awfully thoughtful for them to say this, especially since they were part of the team that caused the dammn thing in the first place
October 15th, 2008 at 1:25 pm
Always thinking of us.