Ron Paul vs. Bernanke 2/29/12
RedTiger
Posts: 5,608 ✭
It may have already been posted some where on this forum, perhaps in one of the mega-threads, but it deserves its own thread.
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It was already posted on the U.S. Coin forum.
thread link
Two bits of trivia:
Bernanke does his own grocery shopping. Bernanke's son is going to graduate with about $400k of student loan debt after getting his M.D.
YouTube Link
It was already posted on the U.S. Coin forum.
thread link
Two bits of trivia:
Bernanke does his own grocery shopping. Bernanke's son is going to graduate with about $400k of student loan debt after getting his M.D.
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Comments
<< <i>It may have already been posted some where on this forum, perhaps in one of the mega-threads, but it deserves its own thread.
YouTube Link
It was already posted on the U.S. Coin forum.
thread link
Two bits of trivia:
Bernanke does his own grocery shopping. Bernanke's son is going to graduate with about $400k of student loan debt after getting his M.D. >>
Are you predicting that he will default on his loan debt, since that is one of the next financial time bombs getting ready to explode?
What kind of lifestyle does his son lead? Sheesh. Perhaps he plans on paying it off in much, much, much cheaper dollars.
I knew it would happen.
Did Bernanke kill the gold rally?
You can almost get a feel for how the majority of spoon fed folks 'understand' things over there.
Box of 20
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Two bits of trivia:
Bernanke does his own grocery shopping. Bernanke's son is going to graduate with about $400k of student loan debt after getting his M.D. >>
Are you predicting that he will default on his loan debt, since that is one of the next financial time bombs getting ready to explode? >>
No, a politically connected MD won't default unless he wants too. Most MDs are focused, driven people--they have to be to get through a difficult program. Many other students might, especially those with less valuable degrees. The obvious would be the liberal arts degrees such as Art History from expensive private colleges. However, these days that group that may default includes a good many law school grads because they face similarly large debt loads, and there aren't job openings for all of them. Even those law school grads that are smart and lucky enough to land a decent job, about half of those leave to other professions after five years, often lower paying professions.
As for the size of the debt, to me, $400k doesn't seem out of line for an upper middle class kid getting a MD because they don't get any aid, it is all loans. If the kid went to a top private college that might be $40k to $50k a year for four years, and six more years for medical school with even higher costs. As a footnote, Bernanke's salary is listed at $191,000 for 2009.
Little Ben won't pay back a single cent, it will just vanish with his fathers magic wand, lets be serious.
My question is why does the Federal Reserve Chairman's son need a loan to begin with?
PR BS that's all it is.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i><<Are you predicting that he will default on his loan debt, since that is one of the next financial time bombs getting ready to explode? >>
Little Ben won't pay back a single cent, it will just vanish with his fathers magic wand, lets be serious.
My question is why does the Federal Reserve Chairman's son need a loan to begin with?
PR BS that's all it is. >>
The man makes less than $200k a year. He has chosen not to pay for all his son's schooling and I respect that choice. Sure Bernanke could have gone the underhanded route, but with such a high public profile Bernanke would be found out and destroyed by his critics, possibly forced to resign. Even playing by the rules, there are critics with strange comments like the above. Magic wand? Life in the fishbowl isn't all that the stone throwers think it is. Sure Bernanke will make big money after he leaves, but while he is in office, he is limited in what he can do. Sure Clinton's kid got a six figure job at a hedge fund right out of school, but that's Clinton. Obama's kids will probably make even more when they graduate, because if anyone knows how to play that game, it is a Chicago politician. Bernanke may have strange beliefs but I don't think he is in it for the money. If he was, he would have quit after a few years and gone to work for 10x the money at a big firm, with 1/10 the headaches of his current job.