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kirkydu (94.36)

Good Job Ben!

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September 21, 2011 – Comments (8)

Congress ain't doing their job, so do it for them as best you can.  It's on the pols to save the dollar now.  If the U.S. heads into a worse depression most of the Congress ought to have all of their retirement benefits stripped, kicked out of office, homes taken and bank accounts frozen.

8 Comments – Post Your Own

#1) On September 21, 2011 at 2:37 PM, TheDumbMoney (47.10) wrote:

Loved the Fed statement today.  I would love to have seen additional expansion of the balance sheet, too.  But, with three dissenters already on this, and core inflation above 2%, I think what they did is about as much as possible right now.  The Fed continues to be a glimmering bastion of relative sanity.  Unsurprisingly, therefore, it is taking tons of vicious hits, from all sides.

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#2) On September 21, 2011 at 3:06 PM, davejh23 (< 20) wrote:

"If the U.S. heads into a worse depression most of the Congress ought to have all of their retirement benefits stripped, kicked out of office, homes taken and bank accounts frozen."

If?  I don't care what happens going forward...there isn't a single member of Congress that deserves the retirement benefits they are promised.  Those that serve one term certainly don't deserve a thing, and those that are life-long politicians deserve it even less...many have built fortunes off of the American people, without ever considering the best interests of their constituents...some have even openly stated that they're voting in opposition to the overwhelming majority of their constituents because they're smarter, know better, etc...  Politicians like that deserve far worse treatment than what you've proposed.

As far as the Fed statement goes, it's basically a non-event.  No balance sheet expansion, it's unlikely to lower borrowing rates significantly, and even if it did, historically low rates haven't proven to be much of an aid to the economy anyways.

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#3) On September 21, 2011 at 5:51 PM, miteycasey (30.68) wrote:

Why do anything?

They've already made rates as low as they can and no one is borrowing so why dig a deeper hole? But their job is to do something and they have a mandate of low inflation and high employment.

 

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#4) On September 22, 2011 at 5:33 AM, dbjella (< 20) wrote:

I wonder if Ben would have been loved more if he dropped money from helicoptors on the common people?

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#5) On September 22, 2011 at 10:52 AM, OneLegged (< 20) wrote:

All in an effort to reinflate those pesky bubbles.  It won't work because it can't.  The only thing twisting will be the American peoples' retirement savings, in the wind.  Despite the praddle that the consumer has deleveraged, it has not.  More debt is not possible.  The current debt load has already broken the dromedary's back. 

 

"The Fed continues to be a glimmering bastion of relative sanity."

Really?  I mean, REALLY?  When one pathetic gimmick fails, just try another.  Debt is the problem.  The Fed's tactics serve only to attempt to increase debt.  How is that sane?

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#6) On September 22, 2011 at 11:14 AM, whereaminow (24.34) wrote:

The market has discredited this blog author.

David in Qatar

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#7) On September 22, 2011 at 11:49 AM, MaxTheTerrible (87.29) wrote:

@#4

No, he would have been yelled at for either dropping it into the wrong hands or not dropping enough...

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#8) On September 22, 2011 at 1:31 PM, FleaBagger (28.76) wrote:

I disagree with David. This was sarcastic irony, right? You don't (didn't) actually think The Bernank was doing a good job, do (did) you?

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