Posted on 09/06/2012 5:51:33 PM PDT by billflax
Once there was an unwritten rule that the Federal Reserve would refrain from significant policy adjustments before an election. Few things are as encompassing to culture as our currency, or as vital that they be thought free of intrigues. With public confidence in the dollar diminished, or perturbed by politics, society suffers this dearth of trust in more than just finance.
Commentary abounds that Mr. Bernanke will soon commence yet more quantitative easing, QE3 for short. Why? Clearly the ongoing economic stagnation stems not from prohibitively high interest rates. Rates hover just off historic lows. Given the moribund economy, financial markets have performed reasonably well, at least nominally.
The Fed’s minutes and the financial punditry have been hinting at additional easing all year. There haven’t been any significantly adverse recent economic developments warranting massive intervention. The recovery, over three years old, has remained anemic throughout. If easing is urgent it should have been implemented months ago. Why now?
A tepid jobs report tomorrow will likely remain in keeping with the monthly numbers of late. Nothing new, nothing pressing has materialized. If America falls off a fiscal cliff come January those depths cannot be filled with wads of paper. Congress and the President must cooperate. Fiscal policy falls beyond the Fed’s purview. What prompts additional money printing?
Here’s a theory and I hope I’m wrong.
Ben will bail out Barry.
(Excerpt) Read more at forbes.com ...
If Obama loses, Look for 10 buck gas before Jan 20 2013
It’ll be “only” 7 bucks a gallon if the empty chair wins.
After the fed gave foreign and domestic banks some $16 trillion we’re nothing but slaves for the rest of our lives anyway.
Romney has already said he would replace Bernanke. QE 3 could be on the immediate horizon not because Bernanke values Obama but because he values his job.
Ben has a wet noodle for a spine. He cannot stand up to the Chicago thugs. If he tried, he’d find a horse’s head in his bed.
Just thinking the same thing...
“It could have been worse.”
If someone tells you... “if I am boss I will fire you”. So Ben clearly has motive to keep Obama in office.
I’d take 10 buck gallon of gas tomorrow IF it would help us get rid of O.
Post-election that will be the least of our problems if he wins.
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Bernanke promised ‘something’ to the Europeans for the ECB’s move today that drove markets up.
I don’t know what, but I know somehow we’ll pay for that bit of good news... after the election.
It’s already happening.
Ditto.
“...is Washington so arrogant as to consider voters so foolish to be conned by an artificial rise in asset prices? Do technocrats think they can manipulate stock markets to peak in early November leaving the hangover until voters are helpless?”
Yes to both of those questions. American voters are extremely gullible and will fall for this. If this is what it takes to get Obummer back in office, you can bet your last dollar it will be done.
“Never underestimate the stupidity of the American people”
Cash and metals. Let er rip!
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