The Fed lowered benchmark interest rates to near zero in December, the last of seven rate cuts in 2008 that took the fed funds rate down from 4.25 percent at the beginning the year in one of the most aggressive rate-cutting sprees in the central bank’s history.
In addition to chopping rates, the Fed has pumped hundreds of billions of dollars into financial markets in what Bernanke calls “credit easing” to revive economic activity.
He coulda just used one word: capitalism.
I note that he didn't.
It would be nice to be told just exactly what the problem really is. What is their bottom not when is it the bottom!
This includes the use of DEADLY FORCE to implement its policies.....
Jeez...this comforts me...NOT!
So do I stop at 500 ATM and pull all my money out now or wait until the run begins tomorrow?!? /half sarcasm
It would be nice to be told just exactly what the problem really is. What is their bottom not when is it the bottom!
A haunting and disturbing post, Friend.
Sure, I'm not really going to run to the bank or anything, but just the thought of all these clowns in control of our nation's financial well being? I'm feeling a bit like a martini that been both shaken and stirred.
The problem is there are too many tools running the country.
I'll bet Bernake and Obama we're much good as parents either. Sometimes the right answer is to stay out of the way, both for parents and for government officials. As a parent, I know that if I can't fix the problem and interfering will make it worse, I need to stay out of the way. They clearly never learned that lesson. This "crisis" would have fixed itself by now if they had just let the market determine the value of Citi and Bank of America, of foreclosed homes, and of the other "toxic" assets. Instead, we're keeping all those problems around so they can fester.
Oh Lord, not that.
The Fed has no money left. The only tool it has left is to print huge quantities of monopoly money. This will bring about 3, 4 and 5 figure inflation.
“we will continue to forcefully deploy all the tools at our disposal”
Translated: We’re running the printing presses at full tilt, and whipping the operators.
We’ll buy all the debt the treasury dares to issue with the money we are printing with wild abandon to support the policies of spend spend spend.
We’ll continue to print money in exponentially increasing denominations to support the coming inflation.
The Fed: Destroying currency & savings the old fashioned way.
“Bernanke: Fed will use all tools at its disposal”
Translation: We are adding faster gears to the printing presses.