I've got a strange feeling the Fed is about to do something REALLY stupid.

January 09, 2008

I've got a strange feeling the Fed is about to do something REALLY stupid.

FedPANIC anyone?

It is an election year after all.

Look to Japan.

Got gold?

Got helicopters?

23 comments:

Anonymous said...: Got SAMs?; January 09, 2008 8:10 AM
Anonymous said...: 200 basis point cut this month.; January 09, 2008 8:42 AM
Princess Mononoke said...: I wouldn't expect anything less!; January 09, 2008 8:52 AM
Anonymous said...: The Federal Reserve economists found that over 33 years the velocity of one of the Federal Reserve's main measures of the money supply, called M2, works out to 1.6527.

This means that $100 the Federal Reserve puts into the economy does the work of $165.27 before the year ends. The velocity can vary considerably from month to month or from one year to another, but over several years the velocity is constant at 165.27, the research showed.

http://tinyurl.com/22p32y; January 09, 2008 9:43 AM
Anonymous said...: This idiot must still be sitting on a lot of spec houses.; January 09, 2008 1:57 PM
Anonymous said...: gotta like terms like "reliquidification of debt" and fantasys like "once the financial markets are talking on normal risk patterns again, the Fed can raise rates again."

maybe DOPES is writing for TheStreet!

it seems clear to me that someone wants to be bailed out of their positions...; January 09, 2008 2:46 PM
Anonymous said...: This country is over. Thats what gold is signalling. %1.00 emergency cut coming, wait till the end of this week. Stagflation is here!; January 09, 2008 2:48 PM
Anonymous said...: When is the next Fed meeting?; January 09, 2008 3:04 PM
Malcolm said...: Of course they’re going to do something stupid.

They’re going to cut rates again, because that’s the only thing they can think of that doesn’t involve any real work.

This brand of “republican” thinks that dropping rates is the solution to every problem.

So what happens when they drop the rates to zero and it still doesn’t solve the problem?

I suppose we shouldn’t be too hard on them. Aside from the risk of damaging their self-esteem, we should remember that on the day they covered economic theory in school, this bunch was skipping school to try to experience the “hippie” lifestyle.

So sad. So sad.

It’s like watching a train stopping to avoid a wreck. It takes miles to stop. You see the crash coming, but there’s nothing you can do to stop it.

Maybe if we all click our heels, we can leave Oz and go back to the good old days when the crooks didn’t rule the world.; January 09, 2008 3:51 PM
stuckinthecity said...: that author obviously never heard of JAPAN!; January 09, 2008 6:02 PM
stuckinthecity said...: Anonymous said...
This idiot must still be sitting on a lot of spec houses.

January 09, 2008 1:57 PM

Bingo! The Fed can go pound sand, the **lenders** need drop 30 yr's to 1-2%. That will jump start things again....IF the Greedy Sellers don't increase their asking prices.; January 09, 2008 6:03 PM
Merciless Ming said...: Economist Jim Rogers recently commented in a CNBC interview that Fed chairman Bernake doesn't even understand basic economics.
Ben Bernake is to running the economy what Bush is to running the country.
The only way either can run anything is INTO THE GROUND!; January 09, 2008 6:55 PM
Anonymous said...: 75 cut, dow up 1000 next day; January 09, 2008 7:08 PM
Anonymous said...: Lookie there.

Two monkeys wearing suits.; January 09, 2008 8:23 PM
Anonymous said...: malcolm,

Thank you for the poetry!

"It’s like watching a train stopping to avoid a wreck. It takes miles to stop. You see the crash coming, but there’s nothing you can do to stop it."

OR:

"He is like a farmer with terminal cancer borrowing money on next year's crop"
Thanks to Dr. Hunter S. Thompson

Wonderful, wonderful!; January 09, 2008 10:22 PM
Anonymous said...: Anything Ben does is irrelevant. (Other than decrease our purchasing power further)

Keep in mind folks that the only thing Ben and his merry men are attempting to do is reduce the likelihood of bank failures and insolvency in the financial system. So they can lower rates in the interim, give time for the banks and idiotic lenders to balance themselves off and sell their toxic debt. Once there is stabilization, the rates go up. Probably to double digits. It happened in the late 70s, early 80s and it will happen again.; January 09, 2008 11:33 PM
Anonymous said...: no worries - Team Bush is on the job.; January 10, 2008 1:08 AM
Anonymous said...: Oh please cut those rates, my gold coins will love you that much more!!; January 10, 2008 5:29 AM
Miss Goldbug said...: Big rate cut coming our way...

and it won't help the stock market.; January 10, 2008 3:36 PM
Princess Mononoke said...: This man is a piece of work!; January 10, 2008 7:12 PM
Anonymous said...: Quote from Bernanke today:

"We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks".

To provide adequate insurance against downside risks? This man is a one-person Gong Show. Far worse than Greenspan, and daily doing more damage to the credibility of the US than any central banker in history. The Bernanke Put: buy anything - go ahead - we'll guarantee that it won't lose value!; January 10, 2008 8:51 PM
Princess Mononoke said...: His voice was quivering so bad while giving his speech!

Unbelievable, this man has NO back-bone whatsoever!; January 10, 2008 9:09 PM
Princess Mononoke said...: This just came to me: I feel like all the corporate heads and wall street had a heart to heart with little Ben today! Convinced him that it's already tooooo late to save the masses and that it would be in the BEST interest of the U.S.A. to save the Wealthy because they ARE the ones who sustain the rest of the population.

Well that may be true to some respect...HOWEVER, We The People, of the United States of America are the ones who SUPPORT you. Without US (workers, taxpayers, customers, shareholders, etc.) YOU (Gov't, Corp., etc) wouldn't exist today!

So with that being said, F*ck you Ben! You are a poor excuse for a human being...

Venting OFF!; January 11, 2008 5:35 AM