Fed Chiarman Ben Bernanke Press Conference- Says not sure why exactly the slowdown has persisted
cohodk
Posts: 19,102 ✭✭✭✭✭
As I postulated a few months ago, Mr. Bernanke is clueless and bewildered. Try as he might, he just cant create sustainable inflation.
His decision last Aug on QE II was, from Briefing.com.."in August (2010) inflation was falling, believes QE2 helped eliminate deflation risks" and "Says in a different position today, not where they would like to be"
And I agree. He is definately in a different position. Now he is standing out in the open with an empty gun.
Its sad really, as I like the guy and genuinely believe that he thinks he is doing the right thing. My fear is that he will soon start to panic and question his resolve. This is always a recipe for bad decision making.
Its called demographics and leverage, Mr. Bernanke. Let the pieces fall where they may.
His decision last Aug on QE II was, from Briefing.com.."in August (2010) inflation was falling, believes QE2 helped eliminate deflation risks" and "Says in a different position today, not where they would like to be"
And I agree. He is definately in a different position. Now he is standing out in the open with an empty gun.
Its sad really, as I like the guy and genuinely believe that he thinks he is doing the right thing. My fear is that he will soon start to panic and question his resolve. This is always a recipe for bad decision making.
Its called demographics and leverage, Mr. Bernanke. Let the pieces fall where they may.
Excuses are tools of the ignorant
Knowledge is the enemy of fear
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Comments
He bailed out the TBTF bankers for what???
Oh and WHAT has the new congress of save the day "Tea party" newby's done for you in first 6 months of 2011???
I wish for a better half 2nd of 2011. I expect same ole same ole
The banks needed to be bailed out as they had all failed. And with that failure, went all of our savings and checking accounts. Most of this money has been recovered--but could be lost again. The bailout of the autos and QE I and QE II are the problems.
Knowledge is the enemy of fear
"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>He's a can kicker and not a very good one. >>
I though he was your Hero going by your new Avatar
<< <i>OK, but the banks are not lending. >>
would you?
"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>
<< <i>OK, but the banks are not lending. >>
would you? >>
No, not with this economic environment. The "bailout" was to stimulate lending not stagnate from what I understand.
<< <i>
<< <i>
<< <i>OK, but the banks are not lending. >>
would you? >>
No, not with this economic environment. The "bailout" was to stimulate lending not stagnate from what I understand. >>
If they really wanted the money to make it to main street they would have given it directly to main street. It was never about helping those that needed it. It was about transferring it to those that wanted it.
"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
BB in 2010: Next year it will be better.
BB today: Next year it will better.
Election Year: We've had some unforeseen headwinds but next year will be better.
Box of 20
Maybe working Americans are tired of spending money on cheap crap from China and have figured out the banker's game of "now you have it, now you don't."
I knew it would happen.
Box of 20
Ahh, venting......
"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
Your Social Security Taxes have been converted to T-bills for who knows how long now. They will find a way to get to your private pension, savings, etc. They may declare a national emergency like FDR did when he confiscated gold. Either that or printing to infinity, and then when that doesn't work......
Box of 20
<< <i>The Bernanke failed to discuss WHO is gonna buy upcoming Treasury debt. If there is no more purchasing by the Fed, that leaves you and I. Look for Turbo Timmy to figure out a way for T Bonds to be forced upon those that don't want them. Federal Employee Retirement funds are currently being used, don't expect it to stop there.
Your Social Security Taxes have been converted to T-bills for who knows how long now. They will find a way to get to your private pension, savings, etc. They may declare a national emergency like FDR did when he confiscated gold. Either that or printing to infinity, and then when that doesn't work...... >>
The government is going to take control of my IRA with one of the big fund companies? Sorry, not a chance. See the CPI thread, that they will do.
<< <i>My fear is that he will soon start to panic and question his resolve. This is always a recipe for bad decision making. >>
the SOR release had strange timing to blast commodities as a whole, IMHO.
are "they" looking at new ways to manipulate? i think so. do they know the end game? that's what is scary. before there was confidence, now there is not.
<< <i>He bailed out the TBTF bankers for what???
The banks needed to be bailed out as they had all failed. And with that failure, went all of our savings and checking accounts. Most of this money has been recovered--but could be lost again. The bailout of the autos and QE I and QE II are the problems. >>
I thought FDIC was there to shield J6P's money. So instead of billions going to the banks wouldn't those billions have gone to J6P to cover his accounts?
roadrunner
Wasn't Sheila Bair whining about FDIC running low on funding a couple years ago? But you are correct, roadrunner - that was what we've been told ever since I we were kids.
The government is going to take control of my IRA with one of the big fund companies? Sorry, not a chance.
I believe that there is a chance. They've always regulated what every fund must hold in their mix of securities, based on what the fund's stated objectives are. They can change anything they want, unless someone prevents them from enacting the regs. Heck, there's a 2,700 page "Financial Reform Bill" that nobody read, and for which the regs have not even been published yet, (if in fact they've even been written.)
In the tradition of T.S. Elliot, may I propose,
It was never about helping those that needed it. It was about transferring it to those that wanted it.
It was never about helping those that needed it. It was about transferring it to those that wanted it.
It was never about helping those that needed it. It was about transferring it to those that wanted it.
Not with a whimper, but with a bang.
I knew it would happen.
<< <i>In the tradition of T.S. Elliot, may I propose,
It was never about helping those that needed it. It was about transferring it to those that wanted it.
It was never about helping those that needed it. It was about transferring it to those that wanted it.
It was never about helping those that needed it. It was about transferring it to those that wanted it.
Not with a whimper, but with a bang. >>
Already proposed, 13th post down.
"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>
<< <i>He bailed out the TBTF bankers for what???
The banks needed to be bailed out as they had all failed. And with that failure, went all of our savings and checking accounts. Most of this money has been recovered--but could be lost again. The bailout of the autos and QE I and QE II are the problems. >>
I thought FDIC was there to shield J6P's money. So instead of billions going to the banks wouldn't those billions have gone to J6P to cover his accounts?
roadrunner >>
And would not news of everyone losing all their money have caused death and destruction beyond our imaginations?
They say it is better to have loved and lost than to have never loved at all. Perhaps it is also better to have lost and not known it.
Knowledge is the enemy of fear
I remember Bush sending me 2 checks.
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
I remember others getting checks from Bush, but I didn't "qualify" for any
Liberty: Parent of Science & Industry
Maybe a good reason to have at least one nationalized bank. Let a nationalized bank do what the private banks will not. The private banks are using taxpayer money anyway to prop up their balance sheets.
Box of 20