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Is Chairmen Bernake Incompetent?
- Thread starter mahram
- Start date
Thank you, amazon next..
Ha! If you call Bernanke incompetenet, how do you call Rumsfield and W?Quote from jamis359:
Is Chairman Bernanke Incompetent?
yes 41 61.19%
no 26 38.81%
I don't know what the "yes" voters are thinking here. He hasn't been in office long enough for anyone to objectively weigh his competency.
Quote from jamis359:
Is Chairman Bernanke Incompetent?
yes 41 61.19%
no 26 38.81%
I don't know what the "yes" voters are thinking here. He hasn't been in office long enough for anyone to objectively weigh his competency.
And given the comments and paucity of high quality insight posted on the matter in this thread, do you really think those casting votes are in any position to be able to assess his performance? Right.
say what you will about Mr. Bernanke. But Bernanke and Cohn together will be unbeatable.
fireworks in the offing. this could be the decade of "swing."
fireworks in the offing. this could be the decade of "swing."
The majority of Americans, even apparently many "traders" who should possess cynicism beyond the average degree, are captivated by the cult of personality. Perhaps it's rooted in our obsession with movies and television. Greenspan acted like a Fed chairman and Barry Bonds is despised because he doesn't play the role of humble power-hitting superstar. Appearances over the long haul are meaningless yet as we see with the President's low approval marks, the "people" hunger for style over substance.
As someone who has nearly a quarter century trading experience I can state the following, markets behave independently of Fed policy. That's not to say there's a negative correlation between the targeted Funds rate and asset values but we all should have ample anecdotal evidence to see the disconnects. To wit: the Fed eased feverishly throughout 2001-2002 and stocks continued to tank. In reverse this entire three year up move in stocks/real estate has occurred during a tightening phase. Blaming or lauding the Fed for the long term performance of any particular asset class is folly.
All that aside, it's CLEARLY proper that the Fed "listen" to Treasury market participants. Greenspan mentioned several times during the giant ease cycle of 01/02 that the collapse in 2yr yields was a demand for a more accommodative policy. If the "market" senses either deflation or inflation then those trends should be evident in Fed decisions. Neither man nor market nor committee gains conviction without the influence of perception. In other words if I thought massive inflation were a worry but then gold sold off $200 an oz and Crude fell to $45 I would rethink my view. Both natural and prudent, eh? Why hold the Fed to a standard that's different or higher than the markets?
As someone who has nearly a quarter century trading experience I can state the following, markets behave independently of Fed policy. That's not to say there's a negative correlation between the targeted Funds rate and asset values but we all should have ample anecdotal evidence to see the disconnects. To wit: the Fed eased feverishly throughout 2001-2002 and stocks continued to tank. In reverse this entire three year up move in stocks/real estate has occurred during a tightening phase. Blaming or lauding the Fed for the long term performance of any particular asset class is folly.
All that aside, it's CLEARLY proper that the Fed "listen" to Treasury market participants. Greenspan mentioned several times during the giant ease cycle of 01/02 that the collapse in 2yr yields was a demand for a more accommodative policy. If the "market" senses either deflation or inflation then those trends should be evident in Fed decisions. Neither man nor market nor committee gains conviction without the influence of perception. In other words if I thought massive inflation were a worry but then gold sold off $200 an oz and Crude fell to $45 I would rethink my view. Both natural and prudent, eh? Why hold the Fed to a standard that's different or higher than the markets?
hmmm. bonds and greenspan in the same sentence.
my money is on greenspan.
cult of nothing.
my money is on greenspan.
cult of nothing.
that's barry bonds, not treasury bonds.