A mathematician, an accountant and an economist apply for the same job.
The interviewer calls in the mathematician and asks "What do two plus two equal?" The mathematician replies "Four." The interviewer asks "Four, exactly?" The mathematician looks at the interviewer incredulously and says "Yes, four, exactly."
Then the interviewer calls in the accountant and asks the same question "What do two plus two equal?" The accountant says "On average, four - give or take ten percent, but on average, four."
Then the interviewer calls in the economist and poses the same question "What do two plus two equal?" The economist gets up, locks the door, closes the shade, sits down next to the interviewer and says, "What do you want it to equal"?
Q: How many conservative economists does it take to change a light bulb?
A1: None. If the government would just leave it alone, it would screw itself in.
Saturday, April 30, 2011
WEEKEND SERMON "AMERICA IS WAKING UP"
Man on the street is dressed in fatigues, bought his pitchfork and has a good supply of tar. In the garage of the foreclosed house he is squatting in, he has a sturdy torch and with ample fluid and box of matches. America is waking up to the fact that the HAVES' are running amok and rising ever higher away from the middle class and the NOTS'.
This has been facilitated by the reaction to the previous Financial Crisis which was fostered by the housing BUBBLE and watched ever carefully by the FED and every govt org that could have intervened.....was it just GREED that kept them from stopping the madness before it went too far? Was it ignorance?
Bernanke is no dummy, he is a scholar, especially of the Great depression.
"Federal Reserve chairman Ben Bernanke, an expert on the Great Depression, made several observations in a 2004 speech at Washington & Lee University in Lexington, Va., in explaining the catastrophic event:
“Rather than being the cause of the Depression, as popular legend has it…the stock market crash [of 1929] only worsened the economic situation, hurting consumer and business confidence and contributing to a still deeper downturn in 1930,” he said. As people hoarded their cash, “about half of U.S. banks either closed or merged with other banks.” And importantly, “the Great Depression was a worldwide phenomenon, not confined to the United States.”
**(may I add please that the greatest stock market RALLY in history has not even brought some measures of COnsumer COnfidence back to the WORST LEVELS after 911 !!) (NOT ONE SINGLE PERSON HAS BEEN PROSECUTED FOR ANY CRIME COMMITTED DURING THE WORST FINANCIAL CRISIS SINCE GREAT DEPRESSION.>>As MANY KNOWINGLY SOLD FAULTY MORTGAGES AS GOOD SOUND INVESTMENTS AND PROFITTED, THEN HAD TO GET BAILED OUT>>>>)
But the takeaway lesson from the crisis, he said, was that “In the end, Fed officials decided not to intervene in the banking crisis.”
Current FED policy is directed to get you to do exactly the opposite, turning your cash and savings into KRAP andFORCING you out of the SAFE rabbit hole, and into RISK ASSETS.
Any comments on how they want "strong US currency" is rediculous as our $ falls to the lowest levels in its history!
Higher gas prices have gotten only ONE response fromour elected LEADER...."F!!! those oil companies, Im going after their tax breaks......" DEAR SIR: I would like to bring to your attention the FACTthat our toilet paper fiat near worthless currency is being debased and pissed on by FED policy and unending govt deficits. Please stop LYING to the people, for the people, by the people who you are in charge of and are helping to screw....BECAUSE of the GRAND EXPERIMENT of inflation and US $ debasement, we are not seeing the fruits of our labors we are seeing the stains in our looms...and the American people are tired of grabbing our ankles.
We are not as stupid as we used to be...we did enough looking around at each other to know something if off key, and we want to know why we aren't feeling the love like it is advertised we are?
WHY is the 4 week average of unemployment claims at 409,000 this far into recovery while it is being reported that COMPANY PROFITS are soaring? WHY did over ONE MILLION unemployed people rush to fill only 60,000 jobs at McDOnalds? IS working at MCD's the anerican dream?
The sun is out but the skies are still gray.
"This is not going to be a V-shaped recovery but a more gradual improvement," says Penrod. "Slow growth is better for stability. We need a slow burn to maintain movement rather than a quick flash in the pan that isn't sustainable." Well we don't havce V-shaped recovery but do in stocks and GOLD and OIL....is what is going on today "sustainable" and why does FED keep saying the inflation is "TRANSITORY"....a big word they think we won't look it up?
Home /Business
By Jeannine Aversa
AP Economics Writer / April 29, 2011
WASHINGTON—Federal Reserve Chairman Ben Bernanke on Friday called for more lending to people and small businesses in lower-income neighborhoods, saying they've been disproportionately hurt by the recession.
Many of the nation's poorest communities were struggling before the downturn, Bernanke said at Fed conference on community development in Arlington, Va.
The recession officially ended two years ago. Bernanke said the national economy is growing at a moderate pace and that job creation is gradually improving, repeating comments he made earlier this week at a news conference after the Fed's policy meeting.
But the unemployment rate remains high. For many poor and working-class Americans, it doesn't feel like a recovery.
"Our economy is far from where we would like it to be, and many people and neighborhoods are in danger of being left behind," Bernanke said.
Indeed, housing is the place most Americans wealth resides, and it has not improved, only 54% of Americans own any stocks, but that is where the FLOW has gone and has done the most "good".
The MORE money diverted to speculation, the LESS is available to lend to worthy businesses and used for investment in job creating endevours.
THEY got a plan, it just doesn't include anything good for you and me...the avg people. FUNNY how this greatest ever stock rally, highest prices for things ever....this TRANSITORY INFLATION......is making the majority angry and feel desperate while the few think its the greatest thing since sliced bread....."don't fight the FED"....because you can't.
http://www.crunchgear.com/wp-content/uploads/2009/05/alice-in-front-of-rabbit-hole9.jpg
Duratek
This has been facilitated by the reaction to the previous Financial Crisis which was fostered by the housing BUBBLE and watched ever carefully by the FED and every govt org that could have intervened.....was it just GREED that kept them from stopping the madness before it went too far? Was it ignorance?
Bernanke is no dummy, he is a scholar, especially of the Great depression.
"Federal Reserve chairman Ben Bernanke, an expert on the Great Depression, made several observations in a 2004 speech at Washington & Lee University in Lexington, Va., in explaining the catastrophic event:
“Rather than being the cause of the Depression, as popular legend has it…the stock market crash [of 1929] only worsened the economic situation, hurting consumer and business confidence and contributing to a still deeper downturn in 1930,” he said. As people hoarded their cash, “about half of U.S. banks either closed or merged with other banks.” And importantly, “the Great Depression was a worldwide phenomenon, not confined to the United States.”
**(may I add please that the greatest stock market RALLY in history has not even brought some measures of COnsumer COnfidence back to the WORST LEVELS after 911 !!) (NOT ONE SINGLE PERSON HAS BEEN PROSECUTED FOR ANY CRIME COMMITTED DURING THE WORST FINANCIAL CRISIS SINCE GREAT DEPRESSION.>>As MANY KNOWINGLY SOLD FAULTY MORTGAGES AS GOOD SOUND INVESTMENTS AND PROFITTED, THEN HAD TO GET BAILED OUT>>>>)
But the takeaway lesson from the crisis, he said, was that “In the end, Fed officials decided not to intervene in the banking crisis.”
Current FED policy is directed to get you to do exactly the opposite, turning your cash and savings into KRAP andFORCING you out of the SAFE rabbit hole, and into RISK ASSETS.
Any comments on how they want "strong US currency" is rediculous as our $ falls to the lowest levels in its history!
Higher gas prices have gotten only ONE response fromour elected LEADER...."F!!! those oil companies, Im going after their tax breaks......" DEAR SIR: I would like to bring to your attention the FACTthat our toilet paper fiat near worthless currency is being debased and pissed on by FED policy and unending govt deficits. Please stop LYING to the people, for the people, by the people who you are in charge of and are helping to screw....BECAUSE of the GRAND EXPERIMENT of inflation and US $ debasement, we are not seeing the fruits of our labors we are seeing the stains in our looms...and the American people are tired of grabbing our ankles.
We are not as stupid as we used to be...we did enough looking around at each other to know something if off key, and we want to know why we aren't feeling the love like it is advertised we are?
WHY is the 4 week average of unemployment claims at 409,000 this far into recovery while it is being reported that COMPANY PROFITS are soaring? WHY did over ONE MILLION unemployed people rush to fill only 60,000 jobs at McDOnalds? IS working at MCD's the anerican dream?
The sun is out but the skies are still gray.
"This is not going to be a V-shaped recovery but a more gradual improvement," says Penrod. "Slow growth is better for stability. We need a slow burn to maintain movement rather than a quick flash in the pan that isn't sustainable." Well we don't havce V-shaped recovery but do in stocks and GOLD and OIL....is what is going on today "sustainable" and why does FED keep saying the inflation is "TRANSITORY"....a big word they think we won't look it up?
Home /Business
By Jeannine Aversa
AP Economics Writer / April 29, 2011
WASHINGTON—Federal Reserve Chairman Ben Bernanke on Friday called for more lending to people and small businesses in lower-income neighborhoods, saying they've been disproportionately hurt by the recession.
Many of the nation's poorest communities were struggling before the downturn, Bernanke said at Fed conference on community development in Arlington, Va.
The recession officially ended two years ago. Bernanke said the national economy is growing at a moderate pace and that job creation is gradually improving, repeating comments he made earlier this week at a news conference after the Fed's policy meeting.
But the unemployment rate remains high. For many poor and working-class Americans, it doesn't feel like a recovery.
"Our economy is far from where we would like it to be, and many people and neighborhoods are in danger of being left behind," Bernanke said.
Indeed, housing is the place most Americans wealth resides, and it has not improved, only 54% of Americans own any stocks, but that is where the FLOW has gone and has done the most "good".
The MORE money diverted to speculation, the LESS is available to lend to worthy businesses and used for investment in job creating endevours.
THEY got a plan, it just doesn't include anything good for you and me...the avg people. FUNNY how this greatest ever stock rally, highest prices for things ever....this TRANSITORY INFLATION......is making the majority angry and feel desperate while the few think its the greatest thing since sliced bread....."don't fight the FED"....because you can't.
http://www.crunchgear.com/wp-content/uploads/2009/05/alice-in-front-of-rabbit-hole9.jpg
Duratek
THE MYSTERY OF INFLATION
"Obama keeps up push to end gas, oil tax breaks"
"President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry. Drivers in 22 states are paying more than the national average of $3.91 per gallon. In Alaska, California and Connecticut, it's $4.20 or more."
$4B is a drop in the bucket, this is just fluff for the avg American, so it can appear like he's actually doing something.
The value of our $ is behind the rising prices of things, as gold and silver jump 2%, gold now at all time high above $1,550. OIL approaching $114 and REG $4 a gallon....the $4B tax break did not do this....the OIL companies did not conspire to destroy the $......our Gov't if not aware that FEDERAL RSERVE POLICIES is 100% responsable then you can thank them come 2012.
Unnaturally LOW interest rates held for almost 3 years, has taken the legs out from the dollar, commodities are not rising to the moon for NO REASON, they are all priced in $'s.
HUGE deficits make for a never ending stream of treasury priniting, add the FED balance sheet has gone from $800B to over $2.5 TRILLION......there seems to be no end in sight.
Is it ANY wonder that while we are experiencing in REAL STATISTICS the MOST FEABLE RECOVERY from Recession in history, that we are experiencing the fatsest most dramatic STOCK MARKET RALLY in 100 years and new highs in most commodities....at the same time housing lays near dead uneffected.
There are lies and damned lies.....
D
"President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry. Drivers in 22 states are paying more than the national average of $3.91 per gallon. In Alaska, California and Connecticut, it's $4.20 or more."
$4B is a drop in the bucket, this is just fluff for the avg American, so it can appear like he's actually doing something.
The value of our $ is behind the rising prices of things, as gold and silver jump 2%, gold now at all time high above $1,550. OIL approaching $114 and REG $4 a gallon....the $4B tax break did not do this....the OIL companies did not conspire to destroy the $......our Gov't if not aware that FEDERAL RSERVE POLICIES is 100% responsable then you can thank them come 2012.
Unnaturally LOW interest rates held for almost 3 years, has taken the legs out from the dollar, commodities are not rising to the moon for NO REASON, they are all priced in $'s.
HUGE deficits make for a never ending stream of treasury priniting, add the FED balance sheet has gone from $800B to over $2.5 TRILLION......there seems to be no end in sight.
Is it ANY wonder that while we are experiencing in REAL STATISTICS the MOST FEABLE RECOVERY from Recession in history, that we are experiencing the fatsest most dramatic STOCK MARKET RALLY in 100 years and new highs in most commodities....at the same time housing lays near dead uneffected.
There are lies and damned lies.....
D
Friday, April 29, 2011
HOUSING RECOVERY?
"2010 was the perfect opportunity for housing in desirable areas to turn up. Instead, price declines accelerated to the downside despite record-low mortgage rates and a supposedly "firming" economy. It looks as if home buyers are voting on the "recovery" story with their feet."
http://www.oftwominds.com/blogapril11/housing-recovery-4-11.html Charles Smith site
http://www.oftwominds.com/blogapril11/housing-recovery-4-11.html Charles Smith site
NOT GOING TO SLOW THE PACE
http://research.stlouisfed.org/publications/usfd/page3.pdf
Don't look down.....since it began the most recent rise, there has not been a single week the base has not expanded.
Adjusted Monetary Base
"The Adjusted Monetary Base is the sum of currency (including coin) in circulation outside Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. These data are adjusted for the effects of changes in statutory reserve requirements on the quantity of base money held by depositories. They are updated monthly by the Federal Reserve Bank of St. Louis."
Don't look down.....since it began the most recent rise, there has not been a single week the base has not expanded.
Adjusted Monetary Base
"The Adjusted Monetary Base is the sum of currency (including coin) in circulation outside Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. These data are adjusted for the effects of changes in statutory reserve requirements on the quantity of base money held by depositories. They are updated monthly by the Federal Reserve Bank of St. Louis."
US $ HITS ONE YEAR LOW
Trump for President? how about ZIPPY the circus clown instead...
D
Thursday, April 28, 2011
One Million Applications, 62,000 Jobs Served At McDonald’s « CBS Chicago
One Million Applications, 62,000 Jobs Served At McDonald’s « CBS Chicago
How sad is this????? Remember we are having this wonderful RECOVERY, where jobs are still being shipped off th India and China and any other cheap labor destination where those wonderful corporations here in the US can show higher profits, on top of the weaker $ adding to foreign currency profits,,,,,why not layoff 3 Americans and hire 3 Indian IT people? Isn't it the nice thing to do, see people all over the world kick our ass? As our people SWARM over McDonald's for 60,000 minimum wage part time jobs? that's progress for ya matey.
Now, I like a SPIRITED rally like the next guy, but I also like it when the growth you see is rooted in good fundamentals and is sustainable. A stock will keep going UP until the majority of shares are being SOLD instead of BOUGHT and thsi can happen at anytime, but is more likely to happen when profits are at risk of slowing or falling or the price gets so high there are no takers.....THIS MARKET IS NO LONGER, hasn't been moving on fundies, it is moving on emotion and greed....and because it is going higher.
there is little to choose from as an alternative. FED has made sure you CANNOT make a return from savings. Savings is being turned into some VILE and loathed asset class to be purged from society...this is the goal of YOUR FEDERAL RESERVE....and just a FEW people have the say so...of setting monetary policy and controlling currencies...........doesn't sound too smart to me.
D
How sad is this????? Remember we are having this wonderful RECOVERY, where jobs are still being shipped off th India and China and any other cheap labor destination where those wonderful corporations here in the US can show higher profits, on top of the weaker $ adding to foreign currency profits,,,,,why not layoff 3 Americans and hire 3 Indian IT people? Isn't it the nice thing to do, see people all over the world kick our ass? As our people SWARM over McDonald's for 60,000 minimum wage part time jobs? that's progress for ya matey.
Now, I like a SPIRITED rally like the next guy, but I also like it when the growth you see is rooted in good fundamentals and is sustainable. A stock will keep going UP until the majority of shares are being SOLD instead of BOUGHT and thsi can happen at anytime, but is more likely to happen when profits are at risk of slowing or falling or the price gets so high there are no takers.....THIS MARKET IS NO LONGER, hasn't been moving on fundies, it is moving on emotion and greed....and because it is going higher.
there is little to choose from as an alternative. FED has made sure you CANNOT make a return from savings. Savings is being turned into some VILE and loathed asset class to be purged from society...this is the goal of YOUR FEDERAL RESERVE....and just a FEW people have the say so...of setting monetary policy and controlling currencies...........doesn't sound too smart to me.
D
OUTSOURCED ECONOMY AND GOOD PAYING JOBS
Finished talking to nice lady, her husband just retired 69 yrs old, worked for company did IT work for Care First BCBS in MD, ENTIRE contract for this work was given to INDIAN company who could provide 3 employees for the price of one here....BCBS had to cut costs.
It now doesn't matter what kind of news comes out of whic piehole, its all good to this market. VIX fear index down to 14, shows NO sign of fear of anything but missing rally. Fundamentally it doesn't matter anymore....one game, you playing or not?
D
It now doesn't matter what kind of news comes out of whic piehole, its all good to this market. VIX fear index down to 14, shows NO sign of fear of anything but missing rally. Fundamentally it doesn't matter anymore....one game, you playing or not?
D
AM DATA SUGGESTS WEAKNESS CONTINUES< LET THE GAMES CONTINUE
http://briefing.com/Investor/Public/Calendars/EconomicCalendar.htm always go here for AM DATA
Jobless claims SHOOT UP 25,000 to 429,000 and the 4 week moving average is now solidly above 400K at 409,000 !!! friends what kind of RECOVERY IS THIS?????
THE GDP 1st qtr plummets from 3.1% to only 1.9% and that can be revised downward further in the later revisions when no one is looking....WHERE IS THE SUSTAINABILITY OF RECOVERY?
WHERE IS THE RECOVERY WITHOUT 20% of consumer spending coming from govt transfer payments? NO WAGE GROWTH, didn't the FED say yesterday companies are hiring again? where in CHina? Greatest number in our hstory need some form of gvot assistance, lowest number on record 54% own stocks....most ever underwater in their homes....YET...GREATEST STOCK MARKET RALLY FROM LOWS IN 100 YEAR HISTORY>>> does this sound right to you?
But this is the formula that is used every time by FED, someone prints money...tries to paper over prior mess...on to prosperity...how does one spend themselves to prosperity? DO you solve a DEBT CRISIS by piling on more record debt?
DO you solve you problems by devaluing your currency and putting evcen more pressure on an already hurting consumer? DO you point out that IPODS have come down in price when refuting inflation is a problem?
Thevalue of the $ is collapsing, almost everything priced in dollars goes up....except the TREASURY MARKET??? yields have been falling...breaking DOWN....from a daily wedge pattern I have posted.....as long as FED keeps buying or I should say they are selling and the boyz are buying....S&P downgrades our debt with warning....we are issuing RECORD amounts of debt...our currency is diving....yet the yields keep falling???????????????
WHY should anything make sense? The FED has taken that fork in the road and decided all things are fixed by enhancing the top 10% of Americans who hold substantial amounts of stocks and ALL the Banksters
(not small regional banks).......
ANSWER? YOU WANT CHANGE REAL CHANGE???? VOTE FOR RON PAUL!!! He is ONLY one who gets it on monetary policy....will he screw everything else up? maybe we would find out what really happens in free market system....vote for ANYONE ELSE and get more of what they been giving you. period.
He sounds CRAZY sometimes because NO ONE else speaks truth TRUTH sounds CRAZY in the face of so many LIES!
Bernanke "printing money will solve everything, I am SCHOLAR of the Great Depression....they didn't print money FAST ENOUGH then,I WONT make same mistake...." DO you see why the $ is being executed and WHY OIL, SILVER, WHEAT, COPPER, STOCKS....etc have risen? IF YOU dont play THEIR GAME, you LOSE.
You stay in savings (from which loans and investment USED to be derived) YOU LOSE....NOPE this assholes game is to FORCE you my fellow citizen into a RISKY ASSET CLASS..PERIOD....that is their recovery plan.
Underlying values of mortgages held by banks or whomever continue to erode.....HOW HEALTHY IS OUR GAMED SYSTEM REALLY?
This shit can go to the moon, and we can argue, well if you think or know that, the game is still ON.....get on that ship dude....caveat...will you know when to parachute?
TIMING IS EVERYTHING, NO its TIME IN THE MARKET? what if you JUST enterred in 2000 and bought that top?
99% of investors cannot time anything,,,,,so the last 12 years have been the LOST YEARS for value...and when you throw in DOLLAR devaluation.....boy have you lost big.
If you think FED is the answer to every economic issue, so be it....I see them as insidous and THE PROBLEM.
Duratek
Jobless claims SHOOT UP 25,000 to 429,000 and the 4 week moving average is now solidly above 400K at 409,000 !!! friends what kind of RECOVERY IS THIS?????
THE GDP 1st qtr plummets from 3.1% to only 1.9% and that can be revised downward further in the later revisions when no one is looking....WHERE IS THE SUSTAINABILITY OF RECOVERY?
WHERE IS THE RECOVERY WITHOUT 20% of consumer spending coming from govt transfer payments? NO WAGE GROWTH, didn't the FED say yesterday companies are hiring again? where in CHina? Greatest number in our hstory need some form of gvot assistance, lowest number on record 54% own stocks....most ever underwater in their homes....YET...GREATEST STOCK MARKET RALLY FROM LOWS IN 100 YEAR HISTORY>>> does this sound right to you?
But this is the formula that is used every time by FED, someone prints money...tries to paper over prior mess...on to prosperity...how does one spend themselves to prosperity? DO you solve a DEBT CRISIS by piling on more record debt?
DO you solve you problems by devaluing your currency and putting evcen more pressure on an already hurting consumer? DO you point out that IPODS have come down in price when refuting inflation is a problem?
Thevalue of the $ is collapsing, almost everything priced in dollars goes up....except the TREASURY MARKET??? yields have been falling...breaking DOWN....from a daily wedge pattern I have posted.....as long as FED keeps buying or I should say they are selling and the boyz are buying....S&P downgrades our debt with warning....we are issuing RECORD amounts of debt...our currency is diving....yet the yields keep falling???????????????
WHY should anything make sense? The FED has taken that fork in the road and decided all things are fixed by enhancing the top 10% of Americans who hold substantial amounts of stocks and ALL the Banksters
(not small regional banks).......
ANSWER? YOU WANT CHANGE REAL CHANGE???? VOTE FOR RON PAUL!!! He is ONLY one who gets it on monetary policy....will he screw everything else up? maybe we would find out what really happens in free market system....vote for ANYONE ELSE and get more of what they been giving you. period.
He sounds CRAZY sometimes because NO ONE else speaks truth TRUTH sounds CRAZY in the face of so many LIES!
Bernanke "printing money will solve everything, I am SCHOLAR of the Great Depression....they didn't print money FAST ENOUGH then,I WONT make same mistake...." DO you see why the $ is being executed and WHY OIL, SILVER, WHEAT, COPPER, STOCKS....etc have risen? IF YOU dont play THEIR GAME, you LOSE.
You stay in savings (from which loans and investment USED to be derived) YOU LOSE....NOPE this assholes game is to FORCE you my fellow citizen into a RISKY ASSET CLASS..PERIOD....that is their recovery plan.
Underlying values of mortgages held by banks or whomever continue to erode.....HOW HEALTHY IS OUR GAMED SYSTEM REALLY?
This shit can go to the moon, and we can argue, well if you think or know that, the game is still ON.....get on that ship dude....caveat...will you know when to parachute?
TIMING IS EVERYTHING, NO its TIME IN THE MARKET? what if you JUST enterred in 2000 and bought that top?
99% of investors cannot time anything,,,,,so the last 12 years have been the LOST YEARS for value...and when you throw in DOLLAR devaluation.....boy have you lost big.
If you think FED is the answer to every economic issue, so be it....I see them as insidous and THE PROBLEM.
Duratek
SUPPORT RON PAUL AND ABOLISH FEDERAL RESERVE?
Thomas Jefferson said, "If the America people ever allow private banks to control the issuance of their currencies, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered."
http://www.petitiononline.com/fedres/petition.html
http://www.petitiononline.com/fedres/petition.html
HOW THE WEAK HAVE GOTTEN WEAKER
D
Wednesday, April 27, 2011
CLUES FROM THE CLUELESS
Bernanke offers clues about steps to raise rates
1 minute ago INO.COM
"At a historic news conference, Federal Reserve Chairman Ben Bernanke offered clues Wednesday about when and how the Fed would begin raising interest rates. The Fed chairman also said any additional steps by the Fed to try to lower unemployment might raise other risks, such as higher inflation. If inflation were to accelerate, it could then reduce employment. That's because the Fed would have to raise rates to slow borrowing and spending and blunt price increases."
Really, is it the borrowing and spending that is creating the rise in things? Let's see right after the FED communique the us $ hit a new low for the move on way to its all time lows..ANYTHING denominated in $'s went higher....OIl, GOLD, SILVER.....
Of course our leaders at a quandry as to how to lower prices....Bernanke is going to keep this going until he kills us all...again savers and those not in risk get the WET SPOT!
D
1 minute ago INO.COM
"At a historic news conference, Federal Reserve Chairman Ben Bernanke offered clues Wednesday about when and how the Fed would begin raising interest rates. The Fed chairman also said any additional steps by the Fed to try to lower unemployment might raise other risks, such as higher inflation. If inflation were to accelerate, it could then reduce employment. That's because the Fed would have to raise rates to slow borrowing and spending and blunt price increases."
Really, is it the borrowing and spending that is creating the rise in things? Let's see right after the FED communique the us $ hit a new low for the move on way to its all time lows..ANYTHING denominated in $'s went higher....OIl, GOLD, SILVER.....
Of course our leaders at a quandry as to how to lower prices....Bernanke is going to keep this going until he kills us all...again savers and those not in risk get the WET SPOT!
D
FOMC STATEMENT
Release Date: April 27, 2011
For immediate release
Information received since the Federal Open Market Committee met in March indicates that the economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually. Household spending and business investment in equipment and software continue to expand. However, investment in nonresidential structures is still weak, and the housing sector continues to be depressed. Commodity prices have risen significantly since last summer, and concerns about global supplies of crude oil have contributed to a further increase in oil prices since the Committee met in March. Inflation has picked up in recent months, but longer-term inflation expectations have remained stable and measures of underlying inflation are still subdued.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The unemployment rate remains elevated, and measures of underlying inflation continue to be somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate. Increases in the prices of energy and other commodities have pushed up inflation in recent months. The Committee expects these effects to be transitory, but it will pay close attention to the evolution of inflation and inflation expectations. The Committee continues to anticipate a gradual return to higher levels of resource utilization in a context of price stability.
To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. In particular, the Committee is maintaining its existing policy of reinvesting principal payments from its securities holdings and will complete purchases of $600 billion of longer-term Treasury securities by the end of the current quarter. The Committee will regularly review the size and composition of its securities holdings in light of incoming information and is prepared to adjust those holdings as needed to best foster maximum employment and price stability.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to support the economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Richard W. Fisher; Narayana Kocherlakota; Charles I. Plosser; Sarah Bloom Raskin; Daniel K. Tarullo; and Janet L. Yellen.
For immediate release
Information received since the Federal Open Market Committee met in March indicates that the economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually. Household spending and business investment in equipment and software continue to expand. However, investment in nonresidential structures is still weak, and the housing sector continues to be depressed. Commodity prices have risen significantly since last summer, and concerns about global supplies of crude oil have contributed to a further increase in oil prices since the Committee met in March. Inflation has picked up in recent months, but longer-term inflation expectations have remained stable and measures of underlying inflation are still subdued.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The unemployment rate remains elevated, and measures of underlying inflation continue to be somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate. Increases in the prices of energy and other commodities have pushed up inflation in recent months. The Committee expects these effects to be transitory, but it will pay close attention to the evolution of inflation and inflation expectations. The Committee continues to anticipate a gradual return to higher levels of resource utilization in a context of price stability.
To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. In particular, the Committee is maintaining its existing policy of reinvesting principal payments from its securities holdings and will complete purchases of $600 billion of longer-term Treasury securities by the end of the current quarter. The Committee will regularly review the size and composition of its securities holdings in light of incoming information and is prepared to adjust those holdings as needed to best foster maximum employment and price stability.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to support the economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Richard W. Fisher; Narayana Kocherlakota; Charles I. Plosser; Sarah Bloom Raskin; Daniel K. Tarullo; and Janet L. Yellen.
"THE HOUSING BUBBLE BROKE THE MIDDLE CLASS"
http://www.oftwominds.com/blogapril11/housing-broke-middle-class4-11.html while people waste their time on Obama's birth cirtificate, there are real isses and facts to be parused. Broke Back Middle Class...
Duratek
Duratek
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