Time Magazine’s Person of the Year is Ben Bernanke

It looks like Time Magazine has lost that loving feeling for Obama. Not only is Obama not the Person of the Year, he did not even make runner up! Obama did not even make the top 5 runner-ups.

Given how Time hyped Obama to death, you would think that they would have had him somewhere in the top spots for his first year in office. I guess they realize that Obama is becoming one hell of a disappointment and they would rather not remind readers that they had a major hand in foisting him on the public.  Sorry, Time but some of us remember all those cover stories too well.

From Time Magazine: 

Bernanke is the 56-year-old chairman of the Federal Reserve, the central bank of the U.S., the most important and least understood force shaping the American — and global — economy. Those green bills featuring dead Presidents are labeled "Federal Reserve Note" for a reason: the Fed controls the money supply. It is an independent government agency that conducts monetary policy, which means it sets short-term interest rates — which means it has immense influence over inflation, unemployment, the strength of the dollar and the strength of your wallet. And ever since global credit markets began imploding, its mild-mannered chairman has dramatically expanded those powers and reinvented the Fed.

Professor Bernanke of Princeton was a leading scholar of the Great Depression. He knew how the passive Fed of the 1930s helped create the calamity — through its stubborn refusal to expand the money supply and its tragic lack of imagination and experimentation. Chairman Bernanke of Washington was determined not to be the Fed chairman who presided over Depression 2.0. So when turbulence in U.S. housing markets metastasized into the worst global financial crisis in more than 75 years, he conjured up trillions of new dollars and blasted them into the economy; engineered massive public rescues of failing private companies; ratcheted down interest rates to zero; lent to mutual funds, hedge funds, foreign banks, investment banks, manufacturers, insurers and other borrowers who had never dreamed of receiving Fed cash; jump-started stalled credit markets in everything from car loans to corporate paper; revolutionized housing finance with a breathtaking shopping spree for mortgage bonds; blew up the Fed's balance sheet to three times its previous size; and generally transformed the staid arena of central banking into a stage for desperate improvisation. He didn't just reshape U.S. monetary policy; he led an effort to save the world economy.

Time’s Person of the Year runner-ups were, General Stanley McChrystal, The Chinese Worker, Nancy Pelosi (say what?) and Usain Bolt.

Via: Time Magazine

Via: Track-A-‘Crat 

Time Magazine gets Beck wrong. Anyone surprised?

Time Magazine was able to tear itself away from its Barack Obama obsession long enough to do a hit piece on Glenn Beck. Of course the piece is written as a battle cry for the left to pay attention to their new villain.

Basically Time’s article can be summed up as Glenn Beck is getting rich stoking America’s fears and anger. Perhaps if they actually watched Beck for a week they might have come away with a different impression.

Glenn Beck’s success lies mainly in the fact that he actually understands why so many Americans are frustrated with Washington (Democrat and Republican alike). That anger has nothing to do with a black president or fear of change. To understand why American’s are angry, one simply needs to imagine going into a restaurant and ordering an inexpensive sandwich, but instead of your order, the waiter brings you the most expensive thing on the menu and then demands that you pay for it. It is the complete disregard for your request and the arrogance that you had better pay for what you don't want that’s ticking off America.

Glenn Beck gets this. His shows try to explain why there is this disconnect between Washington and the people. Of course the answer is corruption. Special interests are being served rather than the will of the people. How else can one make sense of a $1.5 trillion dollar health care reform bill that few of us want, at a time when we can least afford it? Beck's show explains who the players are, what are their motives and who is in bed with whom.

Beck’s second reason for success is that unlike Washington today, Beck gets results. When the radical Van Jones got his old organization Color of Change to launch a boycott against Beck. Beck did not wither on the vine; instead he dug up each and every last one of Van Jones’ own radical statements and aired them for a week. Van Jones is history and Beck’s ratings are through the roof. Beck did not stop there. He used his show as a mega phone to air James O’Keefe, Hanna Giles' ACORN prostitution string. Today ACORN is reeling and Democrats are running in the opposite direction. Finally, last weekend Beck aided in bringing over 1 million frustrated Americans to Washington’s front door to vent frustrations.

In the end, the left will go after Beck, because they always need a villain. Just like when the administration went after Limbaugh earlier this year, the war on Beck will probably fail too and just like Limbaugh, Beck will probably end up with a bigger audience.

Via: Memeorandum

Via: Time Magazine

H/T Left Coast Rebel