Clueless Bernanke Blows It Again

[contango2]

Bernake and the Fed are playing it as best they can.

Way too much emphasis is put on this man and his ability to control the US (and the world's) economic destiny.

 

[piezoe]

Quote from daddyeaux:

It's fairly hilarious for people like Warren Buffet to bitch that his taxes aren't high enough, and then completely bypass the tax system by donating the bulk of his money to Gates and his foundation....

It's hypocrites like Buffet and Ted Turner and Pelosi..that hire legions of tax lawyers to skirt the system... and then parade on TV mocking the rich....

doesn't pass the smell test...

I say, if you can't beat'em join'em, i'm working like mad to get my tax bill up as high as possible, and so far, fairly successful at it!

 

[IV_Trader]

It's too funny to watch few industry's elitists like trefoil trying to explain [patronizing] to "masses" how marco economics works. FED is smart and knows what its doing ? Is it the same FED that sat on his hands and watched/let a non-downpayments losers to buy a 600k homes with 35k income , ignoring all simple arithmetic's facts ?
Way too funny

 

[trefoil]

Eh, I have yet to see any actual analysis around here. Long before I joined this place I did a ton of analysis, and pinned the neutral FF at a range of 4 - 4.5.
Sure enough, we are now at 4.25, and both of the last two Fed statements had a distinctly reluctant tone about lowering anymore. I, for one, am not surprised. They're not going to drop below 4 unless there's a sharp slowdown in growth from here.
Around here, you'd think they'd gone to 1, given all the hysteria you see.
If doing my own analysis makes me elitist, color me elitist. If being incredulous when someone disputes a basic idea like some base rate of money supply growth being needed to allow the economy to grow makes me elitist, color me elitist. (I mean sheesh, even under gold there would be money supply growth, equaling the amount of new gold pulled out of the ground each year.)
Yes, I'm not zany. If that makes me an elitist, so be it.