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Remember when Bush used to speak, and the stock market would instantly drop like 100 points. Yeah, you know what I'm getting at.
Read more...Bernanke Vows Fed Will Act If Uncertain Recovery Falters
Wednesday, 21 Jul 2010 02:03 PM
Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy faces "unusually uncertain" prospects, and that the central bank was ready to take further steps to bolster growth if needed.
"Even as the Federal Reserve continues prudent planning for the ultimate withdrawal of monetary policy accommodation, we also recognize that the economic outlook remains unusually uncertain," Bernanke told the Senate Banking Committee.
"We remain prepared to take further policy actions as needed to foster a return to full utilization of our nation's productive potential in a context of price stability."
Remember when Bush used to speak, and the stock market would instantly drop like 100 points. Yeah, you know what I'm getting at.
That you fear Bush.
Bush is out to get you!
It's important!!
dubya got us good.
with interest rates at effectively zero, Fed has no traction on the money supply.
What's Ben gonna do to carry out his threat?
You can't be that stupid. The only bullet he has left is monetizing debt.
How is monetizing the debt going to bolster economic growth?
Wow. You really need to educate yourself.
It's purely a short positive term stimulus with long term negative consequences. Short term, US Gov spends money, buys it's own debt with newly created money, dollar drops relative in value to other currencies, exports increase, more money in circulation etc. Long term the dollar goes to as far as purchasing power and inflation comes back but the current administration gets to kick the can down the road so it's someone else's problem.
So it's like Reaganomics?
LOL how old are you? Do you remember who came before Reagan and what THAT was like?
when did that happened.
How has increasing the rate of our annual interest we pay bolstering growth? Except for government non military jobs sector?
"who came before Reagan"
what economic policies did Carter implement that had anything to do with the inherited stagflation caused by the 1973 M/E war and oil shock?
Sorta like Reagan having nothing to do with the Iranian Revolution oil shock and 10+ world-wide inflation. Reagan subsequently did get the conservative ball rolling by cutting taxes on the wealthy (himself) and raising taxes on everybody else, while deregulating the finance sector which led directly to the S&L crisis and $200B bailout.
What we need from Magic Negro is a lot more anti-business regs and a lot more pro-citizen, pro-patient, pro-consumer, pro-employee regs.
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