If Only Bernanke Had Listened To Me

[der_kommissar]

Quote from gnome:

BAD POLICY... one day, inflation will destroy the buying power of your money and you'll wish you'd never heard of the word...

INFLATION is a BIG DEAL... a really, REALLY big deal.... one day, many of us will be living under the viaduct and sharing a can of cold pork-n-beans with a stranger because of it.

gnome is one of the few guys who GETS it. You'd be hard pressed to find any post over the years where the guy was off the mark.

This AAA in the beltway, "free market" capitalist on the way up, socialist, currency debasing whining POS on the way down.

I can't think of a post this guy has made in years that made any sense (outside of an obviously partisan agenda).

 

[Ivanovich]

Quote from canuckrookie:

You know it alls make it seem like his job is easy. The Dow would have crashed today if not for the emergency cut. I am supporting todays cut for what it was worth, inflation or not. I never said I agreed with the way he played his cards over the previous months nor do I approve of him or his predecessor as FED chairmen. Clearly you were all short and wanted the markets to crash today so you could make the "big one". Just admit it and stop trying to pretend like you really care about inflation.

You know what they say about those who assume, right?

I am long gold, long AUD, CAD. If anyone benefits from a rate cut it's these positions. Yet, I'm concerned about the price of food and energy in the past two years. And it's because of this kind of crap: Spewing money into the system to push inflation to the limit. Oh, right. The Core inflation rate is just fine. Well that's f'in great, but I and my family have to eat and warm our home with gas.

Not to mention my currency going into the toilet.

 

[gnome]

Quote from Ivanovich:

'...Well that's f'in great, but I and my family have to eat and warm our home with gas.

Not to mention my currency going into the toilet.

You're supposed to be sanguine about all this and just take it up the tail pipe without a squawk. After all, you should "don't worry, be happy... inflation is only 2%"... Gummint said so.

 

[kashirin]

Quote from AAAintheBeltway:

Ok genius, which would have been better, cutting more last meeting and at least not being so obviously behind the curve or making a panic cut today in response to falling stock markets?

He has given us the worst of both worlds. No one has any confidence in him or the Fed. To the extent inflation fears are warranted, we are really screwed now because we are going to keep getting rate cuts plus an idiotic stimulus package. Since Bernanke let things get out of hand, none of these measures is likely to do much good.

His best move now is to resign "to spend more time with his family." He will never have any credibility and the next president will replace him the second his term is up, as they should.

What would be much better if you resign from ET with your ideas. Noone has any respect to your socialist ideas here

Bernanke shouldn't cut at all and he wanted to do that. Although he coudn't resist outside pressure

Have you seen anything good from rate cuts?
I saw 10% dollar devaluation, 30% oil and gold rise and 20% stocks down since he started

Why in the hell should he cut?
He must rise and allow all this crap to unwind, if banks can't stand then nationalize them and don't devalue peoples money to bail out crooks

 

[der_kommissar]

Quote from kashirin:

What would be much better if you resign from ET with your ideas. Noone has any respect to your socialist ideas here

Bernanke shouldn't cut at all and he wanted to do that. Although he coudn't resist outside pressure

Have you seen anything good from rate cuts?
I saw 10% dollar devaluation, 30% oil and gold rise and 20% stocks down since he started

Why in the hell should he cut?
He must rise and allow all this crap to unwind, if banks can't stand then nationalize them and don't devalue peoples money to bail out crooks

Agree on all counts.

 

[Ivanovich]

Quote from gnome:

You're supposed to be sanguine about all this and just take it up the tail pipe without a squawk. After all, you should "don't worry, be happy... inflation is only 2%"... Gummint said so.

Now if only I could manage to not eat, drive or heat my house.

 

[AAAintheBeltway]

Quote from der_kommissar:

Agree on all counts.

Obviously you two critics have never been to the Politics forum. I'm sure Pabst will find it amusing to learn that I'm a socialist.

Why is it that neither one of you can grasp the point I have been making? See, it's not a question of whether Bernanke should be cutting rates or not. He was always going to end up cutting them. He proved that today. And what did he say about himself? That he didn't want to raise rates, as you guys assume, but was forced to by some outside pressure? So he's weak. Or, he did think it was appropriate to put in an emergency cut today, but didn't see aproblem three weeks ago, in which case, he's clueless. Which is worse? I 'm not sure.