THE FED--are we being Conned????, "regulators"

[flower]

In Reply To: mullokintyre's post @ Yesterday, 08:19 AM

QUOTE Hi Dave---typical misreporting as usual by those who don't understand the tortured "thinking" of Helicopter Ben!

Make no mistake QE3 (or something similiar) will happen, just compare the subtle change of wording of the key phrase this month as compared with his June mumblings:

Mick--from memory yesterdays post was an add on to the one I made before QE3 started, QE3 is still in progress.

Still think the FED are in any way sane--try this Bloomberg clip overnight--they are as mad as meat axes including their leader the bearded one.

In all seriousness one fine day our grandchildren will have to pick up the pieces much as the poor Ford workers are now having to do, it seems that pouring tax payers money into lost causes simply compounds the end consequence, unfortunate for those picking up the train wreck left.

Trouble is that the FED have been at it for about 20 years!
--------------------------------------------------------------------------------------------------
Bloomberg overnight. By Aki Ito - May 24, 2013 1:12 AM GMT+0800

"""""Federal Reserve Bank of San Francisco President John Williams, emphasizing the need for policy flexibility, said any move to reduce the pace of the central bank's bond buying could be followed by an increase should the economy weaken again. "Even if we do adjust downward our purchases, it doesn't mean we're now in some autopilot of moving in the same direction," Williams, 50, said in an interview yesterday in San Francisco. "You could even imagine a scenario where we adjust it downward based on good data and then adjust it back" if the economy weakened.""""""

[alonso]

Does it look like the fed dipped its toe in the water but found it too cold just yet.

[mullokintyre]

In Reply To: flower's post @ Aug 2 2012, 10:44 AM

From Flower

Hi Dave---typical misreporting as usual by those who don't understand the tortured "thinking" of Helicopter Ben!

Make no mistake QE3 (or something similiar) will happen, just compare the subtle change of wording of the key phrase this month as compared with his June mumblings:

I don't suppose it may have occurred to you that there is a small chance that you may be the one who fails to understand what the bearded one is up to???

Mick

[wren]

In Reply To: flower's post @ May 23 2013, 02:34 PM

• At 12 years old, Bernanke won the South Carolina state spelling bee, despite being initially told that he had misspelled a word. Bernanke, certain he was right, left the stage anyway. "He came back on stage and said he had spelled it correctly," his mother Edna recalled to the Washington Post. "And he was right." Bernanke was later eliminated at the national bee when he misspelled the word edelweiss.

• Taught himself calculus in high school because his school did not offer the course. He went on to score a 1590 out of 1600 on his SAT. Bernanke also played the alto saxophone.

• Earned a B.A. in economics from Harvard University in 1975. He was given the distinction of having the best undergraduate economics thesis and was named the outstanding senior in the economics department.

• Bernanke and his wife Anna married on May 29, 1978. They have two children.

• In 1979, Bernanke received his economics PhD from MIT and began teaching at Stanford University's Graduate School of Business. Six years later he joined the Princeton faculty as professor of economics and public affairs. In 1996, he was named chairman of Princeton's economics department.

• Served two elected terms as a member of the school board in Montgomery Township, N.J., a position that he cites as being formative to his policy-making experience.

• Became a governor of the Federal Reserve in 2002, taking leave from his position at Princeton.

• Appointed chairman of the President's Council of Economic Advisers in 2005, shortly before being nominated to lead the Fed.

Et vous flower?
Read more: http://www.time.com/time/business/article/...l#ixzz2U9jVAU1M

[flower]

In Reply To: flower's post @ Aug 2 2012, 10:44 AM

The sooner Ben Bernanke leaves the FED or is removed the better, just watched clips of his QandA session after telling US Congress that he wasn't in the frame of mind to back off QE3 any time soon, then in the Q/A session he clouds the issue by double talking, little wonder the markets went into a tailspin.

Think his term ends anyway December 2013, which date cannot come soon enough, send him back to academia---- we want somebody who is street smart leading the worlds biggest economy not the current "misfits". IMHO.

[flower]

In Reply To: Dave_vic_ozz's post @ Aug 2 2012, 09:05 AM

No QE3 - As reported on the radio this morning

Hi Dave---typical misreporting as usual by those who don't understand the tortured "thinking" of Helicopter Ben!

Make no mistake QE3 (or something similiar) will happen, just compare the subtle change of wording of the key phrase this month as compared with his June mumblings:
----------------------------------------------------------------------------------------------------------

Back in June:

The Committee is prepared to take further action as appropriate to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.


Today:

The Committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability

[Dave_vic_ozz]

No QE3 - As reported on the radio this morning.

[flower]

This from London's FT overnight: (subscription only site)

(It's not so much that we are being conned by the FED, more that the incumbents are incompetent--IMO)---QE3 has been left far too late, that is if QE should have ever been started. Williams now appears to want permanant QE!--Next FOMC meeting concludes 1st August.
---------------------------------------------------------------------------------------

Quote by FED FOMC voting member John Williams:

He added that there would also be benefits in having an open-ended programme of QE, where the ultimate amount of purchases was not fixed in advance like the $600bn "QE2" programme launched in November 2010 but rather adjusted according to economic conditions. "The main benefit from my point of view is it will get the markets to stop focusing on the terminal date [when a programme of purchases ends] and also focusing on, 'Oh, are they going to do QE3?'" he said. Instead, markets would adjust their expectation of Fed purchases as economic conditions changed.

[flower]

At the next FOMC meeting on August 9th?
--------------------------------------------------

Federal Reserve Bank of San Francisco President John Williams said the U.S. central bank must maintain "extraordinary vigilance" to see if the slowing economy requires additional monetary stimulus.

"If further action is called for, the most effective tool would be additional purchases of longer-maturity securities, including agency mortgage-backed securities," Williams said in a speech in Coeur D'Alene, Idaho today. Last month's decision to extend the so-called Operation Twist program "will probably have a relatively modest impact."


http://www.businessweek.com/news/2012-07-0...igilance-by-fed

[flower]

In Reply To: arty's post @ Jun 26 2012, 07:42 PM

So are you implying that your Queen has become senile?
No comment required so none will be made.

After all, she knighted Sir Alan- for his "contribution to global economic stability."
Can't have it both ways: Either Sir Alan facilitated that laudable feat during his long chairmanship, or he was such obvious a fraud that even you could do better.
The Queen obviously tapped the recipient upon his shoulder with the royal sword to cement US relations, but if on reflection you believe his feats were laudable maybe its time to go back to Uni! Not so much that he was a fraud--- since the recomendation for a knighthood would have come direct from the White House.

yet Her Maj was too ignorant to notice.
No comment required so none will be made.

Isn't hindsight marvelous!
Hindsight has nothing to do with it, I can vividly remember telling your goodself some 12 years ago that Sir Spendsalot was a madman in charge of Draculas Bank!