Posted on 02/04/2008 4:19:34 PM PST by TigerLikesRooster
What would a new Fed chairman do—declare “inflation” to be the problem and raise the rate? Yeah, there’s inflation. But it’s not caused by a US labor shortage this time. ...gonna bomb the Saudis and take their oil facilities?
Doesn't mean much, like changing navigators on the Titanic after hitting the berg. The damage under the waterline has been done.
Gramm more than any Republican Senator was in charge of setting up the Senate impeachment proceedings for the criminal known as William Jefferson Clinton. He did a lousy job and effectively sold the House Managers down the river.
you think? Greenspan was an icon way before he left office. His legacy was established by CNBC.
No where on either side of the aisle is there talk of gutting useless federal spending programs. Why?
Because that reduces the power of the elites in DC.
Ben Ben knows that if the politicoho's would go ahead and balance the budget, things would start to turn around quickly with foreign investing into this country.
Yet, it will not happen because too much pork and the support of the welfare of the illegal immigrants in this country whose votes (not all by any means) are going to play into this election.
The sheer amount of dollars 'invested' to risk on the sub-prime fiasco is beyond me. Why would the banks risk so much (percentage of their holdings) if there were not some type of fraudulent collusion involved? Not all those on The Street were so stupid about to do so.
Now this is more about protecting the ratings of municipalities' bonds and reducing the serious losses for government retirement funds than anything else.
Well Wall St. seems to be heading South today as the Dow crashes. What is amazing is that the media says, Down day for Wall St. That is silly. It is a down day for many of us who are retired and have IRAS, mutuals, bonds as our hard earned savings to be retired. They are disappearing today as I post. Whether Ben can help, I do not know but Wall St. doesn’t really care about us retirees who listened to the sirens of investments because we really do support the Free Enterprise system.
Huh? This is wrong. Greenspan stuffed the coffers of foreign banks with all the printed international reserve currency that they would hold. Just because the foreign banks finally realized that the stuff wasn't worth the computer memory required to store the numbers on Bernanke's watch does not mean that Greenspan had a magic touch.
He just had the smarts to retire when it was becoming obvious that the jig was about to be up.
The only thing we learn about Bernanke was that he was a big enough fool that he accepted an undoable job.
Undoable is right.
Hey BG, I know this is a little late in posting. I just found this which explains the FRB data you linked to. It looks like this is nothing to be concerned about. Its a link to the WSJ and I apologize if it requires a password.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.