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In a speech laden with true indecisive “economist-speak”, Fed chairman Bernanke headlined his performance from Jackson Hole with assurance that the Fed “will do all that it can” to keep the economic “recovery” (sarcastic quotes mine) rolling. From Bloomberg: Federal Reserve Chairman Ben S. Bernanke said the U.S. central bank “will do all that it can” […]
Most of the inflation arguments touted about in the press center around the Federal Reserve’s unlimited ability to create money. And while the Fed may be a relatively sovereign entity (probably scarily so!) – it is still accountable to Congress, and ultimately the American public. The Fed can only print as much money as the […]
This is a pretty cool and illuminating comparison of the statements issued by the FOMC after their last 2 meetings. See for yourself as the realization and terror that the economy is heading back down the toilet strikes the hearts of committee members! Hat tip to Barry Ritholtz and Andrew H. Also see: Fed, Bernanke […]
The Federal Reserve reported today that it will “roll over” principal payments on its mortgage holdings into long-term Treasury securities. Bloomberg reports: Federal Reserve officials will maintain their holdings of securities to prevent money from being drained out of the financial system in their first attempt to bolster the economy in more than a year. […]
Real nice post by Mish Shedlock over on his always excellent blog entitled Are we “Trending Towards Deflation” or in It? I know many readers share my view on the inflation/deflation debate – namely that because we have a credit based economy, the Fed is relatively powerless to stop inflation. If that’s your take, then […]
Well, maybe not quite, but it certainly feels that way. Today, Ben Bernanke pledged to keep the benchmark interest rate at a record low for an “extended period.” (Source: Bloomberg) His commentary was, as usual, about as insightful as the look my 6-year old weimaraner gives me when I proofread my blog out loud to […]
The man who proclaimed the subprime problem was “contained” in March 2007 (after which Jim Grant hilariously quipped “yeah, to planet earth”) – is back in the news again with another “guru moment”. The Wall Street Journal reports: The U.S. economy should continue to recover at a moderate pace this year, but it will take […]
Our hero Jim Rogers has been back in the news quite a bit recently – here’s his latest thoughts: He sees gold heading north of $2,000 in the next decade Ben Bernanke should (still) close the Federal Reserve, then resign He likes the Japanese Yen best at the moment of the currencies, but wouldn’t buy […]
So is the money supply increasing, or not? Ambrose Evans-Pritchard of the Telegraph writes that US credit is shrinking big time – at it’s fastest rate since…drumroll…the 1930’s. Professor Tim Congdon from International Monetary Research said US bank loans have fallen at an annual pace of almost 14% in the three months to August (from […]
Last month, we posted this You Tube medley of Ben Bernanke’s “Greatest Hits” from the last 2+ years. The video’s title “Bernanke: Why are we still listening to this guy?” probably says it all. Well get ready, because Ben’s hopping up on his soap box yet again. Check out this Wall Street Journal headline from […]
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