Reply With Quote
Which of course means that oil and other commodities are going right back up...
All the economic fundamentals are turning to crap and with an election coming you know Obama is gonna pull out all the stops to keep kicking that debt can down the road...
Which of course means that oil and other commodities are going right back up...
No, actually, it doesn't.
If you think the Fed is not politicized then you are remarkably naive.
Politicized? Yes, to some degree.
Directed by fiats originating in the Executive branch as you imply? No.
If you want to prove the Fed is directed by the executive branch as you strongly imply in the OP, you have a pretty tough bar to clear in terms of evidence.
I assume you have some emails or similar to present to support this assertion?
(he asked, knowing the answer no)
I would be willing to bet that your reply will include some rancor and/or defensive derision. Disappoint me.
Fed politicized? yes.
Controlled by Barry, no.
The Fed is owned and operated by Wall St, the financial arm of the 100% political VRWC.
QE1, 2, with corps sitting on $2T cash and Wall St swimming in $10Bs of bonuses, did all for the economy and jobs, QE3 won't have any effect at getting the economy moving.
Uhhh...you know who appoints the Fed, right? When the President can hire and fire the Chairman of the Federal Reserve thats a very low bar to clear as far as evidence.Politicized? Yes, to some degree.
Directed by fiats originating in the Executive branch as you imply? No.
If you want to prove the Fed is directed by the executive branch as you strongly imply in the OP, you have a pretty tough bar to clear in terms of evidence.
I assume you have some emails or similar to present to support this assertion?
(he asked, knowing the answer no)
I would be willing to bet that your reply will include some rancor and/or defensive derision. Disappoint me.
When was the last time the Fed went against the Executive's wishes on something?Politicized? Yes, to some degree.
Directed by fiats originating in the Executive branch as you imply? No.
If you want to prove the Fed is directed by the executive branch as you strongly imply in the OP, you have a pretty tough bar to clear in terms of evidence.
I assume you have some emails or similar to present to support this assertion?
(he asked, knowing the answer no)
I would be willing to bet that your reply will include some rancor and/or defensive derision. Disappoint me.
Honest question.
Yes, I understand that.
I don't however, buy that Fed chairmen have ever felt particularly beholden to the executive even so.
Honest answer:
I don't know. I do seem to remember some pressure to "goose" the economy more than would merited during the Bush administration that was ignored by Greenspan.
Can you imagine the firestorm that would be created by any such presidential directive to the Chairman if it got out that was what was happening?
In this case, CC made the claim, it is his burden to prove, not mine. I have merely stated what I am willing to accept without evidence and called bull on what I am not.
So you think I'm wrong about QE3?
A much better question. I do not entirely think you are wrong about the possibility, no.
Still a bit early though. One moderately bad month or two's worth of data are not really a basis for any major policy initiatives.
I won't go so far as to call it direct control, but I do think it's a fair observation to say that the Fed & the executive branch have consistently remained like-minded.
anyone who is at least half paying attention to this has known what is going to go down since around January.
They are going to let the markets fall enough to scare everyone less, then implement QE3 before the double-dip occurs.
Then we're ed.
Which do you think is the tail, and which do you think is the dog?
Already? Wasn't one just done a few months ago or is this the actual "easing" of what I thought done months ago?
I wonder when people will hit their "oh !" moment.
Maybe I should take the time to find my post election predictions of what this administration would do to the economy.
Greenspan was definitely the dog. I think Bernake is the tail.
I'll save you the time. Bush did it.
"What are the goals of U.S. monetary policy?
Monetary policy has two basic goals: to promote "maximum" sustainable output and employment and to promote "stable" prices. These goals are prescribed in a 1977 amendment to the Federal Reserve Act."
http://www.frbsf.org/publications/fe...ary/goals.html
output, esp productivity, is up, prices (official definition) are pretty stable, but clearly the Fed has failed horribly on employment.
Please do
I have a feeling it is going to lack anything specific other than "he's gonna make things worse.." but maybe you'll surprise us..
of course, WC's predictions about Barry will be in the vacuum of ignoring the history of 8 years of Repug misrule.
The didn't start hitting the fan until summer 2007, after the democrats took congress.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
