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F the fed, F JPM, F GS, F Warren Buffett, F Owebama...
Pleased to learn there is a Richmond Fed.
A job vacancy coming up that allthese Fed guys are standing upfor?
So am you are expecting me to believe that the next FOMC meeting to NOT be an Unanimous 9-0 for NO CHANGE in rates?? I highly doubt that. Its all talk from these Fed officials...no action when the time comes. Or maybe during every FOMC meeting, Bernanke has them drink some vial of koolaid while they sit and vote at the table.
'IN GOD WE TRUST' Take this out of the system and we are doomed. You cannot have economic growth without banks lending and businesses hiring so that purchase can be made and money cycled through. The papers piled up in banks cannot see daylight lest they become REAL, thus creating hyper-inflation.
I just looked at all the bills in my money clip. 1, 5, 10 ,20, 50, 100 bills all have "IN GOD WE TRUST" on the back.
What a joke and a sacrilege.
Our new national motto should be "REWARD FAILURE BY PENALIZING SUCCESS".
Is it too late to put this on the back of the Amero, or whatever the new toilet pape...um, dollars will be called?
How will we drain all this excess liquidity? Why that's a secret that only Uncle Ben knows. It's part of the recipe that makes his rice so delicious, and the envy of all of China.
This has that "plausible deniability" stench to it. Trying to build back some credibility, the Fed asks some "dissenters" to go public. Or they're trying to lay the ground work for the next market plunge.
Either way, please put a full body condom on before you have your way with me. I brought the K-Y. It's getting a little raw back there, if you know what I mean.
CD - Remind me of this comment sometime in the chat. thanks
Yup, I hope people don't think regional fed officials(outside of NY) are actually allowed to think/disagree w/o official sanction.
The fed is trying to act more hawkish while being dovish, in an effort to keep inflation expectations low as gold and industrial commodities continue to reflate. If inflation starts with unemployment in the %10-%20 range they are screwed...
Yes, and credit-card delinquencies are back to record levels: maybe consumers should actually pay for those car purchases at some point instead of merely accumulating worthless frequent flier miles
Tyler, those frequent flier miles may well be worthless to Any O. Citizen. However, when they are presented at the Fed's discount window by the credit issuer they convert to freshly minted treasuries. I wonder if GM is able to monetize their 60 day money back guarantee via Ally Bank and the Fed or Treasury in much the same way?
In reference to these two intrepid Fed Governors I suspect that having a voice or two express a mildly contrarian perspective is the Fed's way of attempting to add "credibility" to their "deliberative process" in the minds of themselves if not in their target audience.
Since AIG can exchange debt for preferred stock and muddy up the capital structure even more, I can only assume GM could exchange flaming bags of crap fresh from their front stoop for fresh bales of newly printed currency, neatly laundered first by a quid pro quo agency for debt swap by a willing party.
Sorry, but his stance looks pretty lame. I think you are too optimistic in assuming he is making anything more than an 'on one hand - on the other hand' type of comment. Asset bubbles are still invisible to those who find them inconvenient to see.
"patches of lingering weakness"
Oh, so that is what they are calling 17 percent labor underemployment these day
Smells like team spirit - a little too close to the confirmation hearings for all this "dissent." More bullshit to suck up, friends.
these guys are out campaigning more than our worthless politicians in D.C.
I can't figure out who lies more, the Fed guys or the congress cretins.
maybe that would be a good survey.
This is balloon-floating, nothing more. Any pretense that any of these guys from the regional Fed banks aren't dancing to the strings pulled in NYC and DC is just silly. They are all a part of the Borg (they HAVE to be), and these two (maybe more) have been appointed to begin to introduce the idea to Boobus americanus.
The only independent, TRULY independent folks are raising soybeans in Paraguay. Or something like that.
This is like telling the frog on the stove that you'll stop nudging the heat higher as soon as conditions are warranted.
By the time they are, the frog is dead. Of course that was the goal, which was achieved by convincing him not to jump during the exercise.
Hence "we'll tighten when conditions warrant!"
Yesterday it was Philly Fed's Plossner, today it is Richmond Fed's Jeff Lacker who joins the chorus demanding an end to Bernanke's insane monetary policy of drowning the market with unprecedented liquidity
They are both lying phucks.
Tim Geithner is a lying phuck.
Ben Bernanke is simply a dumb phuck.
market commentary expressing uncertainty over whether the Federal Reserve is willing and able to promptly reverse that expansion
Pls allow me to translate this....the "market commentary" is the small minority of people in the usa that have some brains and have called out the truth about the lying phucks at the Fed, the lying phucks at the Treasury and the lying phucks at the banks, the lying phucks at Goldman and JPM, etc.
There is no "uncertainty" ,Mr. Fed, that your organization has completely phucked up for many years and has phucked the USA over good.
Take these comments seriously folks, Lacker rarely blows smoke and is by far one of the only clear minded economist in the FED. Yes everything these FED guys say is shrouded in nebulae...
I had the privilage of having him as a professor at W&M, and can personally attest that he is a real genius and one of our few hopes for sanity in the FED. Pay close attention to anything and everything he says. He has the deepest possible understanding of the situation.
People are just blowing off steam Anon. they gotta bring the rates up eventually and we all know that anyway.
this is THE process of massaging opinion over 3 Q's and 5 meetings before they can actually turn the battleship that is official policy especially since the take all of their cues from mr. market and are the greatest instance of a guy hiding behind a curtain while making sure that he advertises that fact simply because there are no controls backstage ... but, shhhhh, no one else knows that and this "don't fight the fed" talk is actually believed when it is ace backwards.
Lacker vs Bernanke is like Combs vs Hannity - a total farce.
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