Posted on 04/07/2009 11:13:22 PM PDT by FromLori
CHICAGO (Reuters) - The U.S. economy is grim, and the Federal Reserve is "duty bound to apply every tool" to clean up the financial system and clear a path for a return to sustainable growth, Richard Fisher, president of the Dallas Fed, said on Wednesday.
"The men and women who operate our businesses and create and sustain employment have assumed a defensive crouch," Fisher said in remarks prepared for a speech to a forum sponsored by the Japan Center for Economic Research in Tokyo. "The result is an American economy in statis."
(Excerpt) Read more at reuters.com ...
What is all this cr*p of talking down the economy from the top?
Maybe it is to convince us we need a one world currency.
“the Federal Reserve is ‘duty bound to apply every tool’”
Ain’t that the whole problem, right there.
lol I think your right and some fine tools they have too like this one...
http://www.freerepublic.com/focus/f-bloggers/2224615/posts
and this one...
http://www.freerepublic.com/focus/f-bloggers/2224680/posts
Take out the "Maybe" and I totally agree.
It is the Federal Reserve that caused the Credit bubble in the first place that Obama wants to re-inflate
Rising inflation will probably not be an issue for the next couple of years...
Right. And pigs fly.
Sigh. The PR propaganda machine is starting to turn out more and more b.s. to promote the need for a "new" currency....
“The men and women who operate our businesses and create and sustain employment have assumed a defensive crouch...”
That’s because we don’t know what the F*** the government is going to do next! (Of course, they don’t know either!)
Who gets the next bailout?
What is the next Emergency Sector Push (Healthcare!?)
What will get taxed?
What will the interest rate be set at?
And how many more F****** trillion dollars are you going to print?
“Rising inflation will probably not be an issue for the next couple of years...”
You know, they probably mean rising *price* inflation won’t be a problem. And maybe they’re right. But what they don’t seem to understand is that the trillions of dollars they create out of thin air aren’t evenly distributed through the economy. The new money goes to particular places first, and its lucky recipients get to basically steal goods from the productive sector, just like counterfeiters do.
Couple that with the fact that the Fed is still actively seeking to “unfreeze” the credit market (which wasn’ty frozen in the first place), and you have the perfect recipe for new bubbles. This is how the business cycle gets rolling: a bunch of funny money out there looking for something to invest in.
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