Bernanke: "Biggest Impact Of QE" to create jobs

[squarepusher]

http://www.zerohedge.com/news/2015-10-08/according-bernanke-was-biggest-impact-qe

Are you ready for this... are you sitting down... you better be sitting down. Here it comes

• BERNANKE SAYS BIGGEST IMPACT OF QE WAS TO 'CREATE JOBS'

just :0

From "hope" to "nope"...


"Peak Self-Delusion" or just another Big Lie?

Charts: Bloomberg

 

[Cleaner44]

The following bit of satire is posted purely for the satirical fun...

What the fuck does Tyler Durden know about economic sciences? Does he have any degrees? Has he ever been published? Do the fine professors of our nation hold him in high esteem?

Ben Bernanke is a genius and a hero!

• Bernanke was educated at Dillon High School where he was class valedictorian
• Bernanke scored 1590 out of 1600 on the SAT
• Bernanke was a National Merit Scholar
• Bernanke was a contestant in the 1965 National Spelling Bee
• Bernanke earned an AB from Harvard University
• Bernanke earned an AM in economics summa cum laude from Harvard University
• Bernanke earned a PhD in Economics from the Massachusetts Institute of Technology (MIT)
• Bernanke has taught at the Stanford Graduate School of Business
• Bernanke was a visiting professor at New York University
• Bernanke was a tenured professor at Princeton University in the Department of Economics

Want to know who agrees with the Great and Powerful Bernanke? Paul Krugman, that's who!

Paul Krugman is a distinguished Professor of Economics, with a Nobel Memorial Prize in Economic Sciences for fucks sake!

• Krugman earned his B.A. summa cum laude in economics from Yale University
• Krugman earned his PhD in economics from the Massachusetts Institute of Technology (MIT)
• Krugman has worked at MIT, Stanford, Yale, Princeton and the London School of Economics

I am so tired of you fucking idiots listening quacks instead of these finely educated masters of economics! Grrrrrrr

 

[Ronin Truth]

How many Boomers have they managed to unretire?

 

[Zippyjuan]

Gee- that chart looks like we have less than half the jobs we did during the recession. Do we? Are there fewer jobs than in 2008 today? (Fed QE started at the end of 2008)

It also looks like a huge drop in labor force participation rate. Has it been dramatic and only occurred since the recession?

As Ronin notes, 10,000 retire every month. We have more stay at home parents today- fewer homes where both feel the need to work. Plus more people in school and not working- improving skills.

 

[Zippyjuan]

But on the topic, QE can create limited jobs and only for a short period. QE cannot continuously create jobs. The impact of giving people more money to spend lasts as long as they have that extra money. Once the first burst of new spending is used up, you need to continuously and exponentially add more money to keep adding more and more jobs that way.

 

[Madison320]

First of all the stimulus crash is always going to be at least as big as the stimulus high. Otherwise by definition we could all quit working and stimulate our way to prosperity since the (high-crash) is a net positive. Since we haven't experienced the brunt of the crash (we're still stimulating!) how can Bernanke possibly claim success?

Suppose you decide to "stimulate" your personal economy one year by taking a year long luxury vacation. Then suppose 10 months into your vacation you claim that your "stimulus" was a huge success. The problem is that the following 20 years you're going to be eating macaroni and cheese and living in a tent. Then you can re-evaluate your "success".

 

[georgiaboy]