Folly of the Fed: Why Janet Yellen May Be a Dangerous Choice
http://www.pbs.org/newshour/businessdes ... t-yel.html
Janet Yellen, President Barack Obama's nominee to replace Ben Bernanke as the chair of the Fed, was on the hot seat Thursday in front of the Senate Banking Committee for her confirmation hearing. British economist Andrew Smithers questions the monetary policy she's supported as vice chair of the Fed and defended at her confirmation hearing. You can watch the hearing here.
QE3?
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
sound article.Euler wrote:THE TAPER: Recalibrating Liquidity
http://www.richardduncaneconomics.com/t ... liquidity/
the problem is that they're trying to eliminate the business/economic cycle by manipulating market liquidity, and they won't be able to stop now they've had "success" in pumping asset prices.
what happens in future when there's a downturn? yep, more printing, more promises of zero rates forever. meanwhile govts will still be adding to massive national debts while their economies remain unbalanced.
it's hard to see a good ending to any of this.
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
interesting to see what's happening in the markets post taper... printing $65Bn a month is seemingly not enough to keep the debt bubble inflated.
i'm expecting a halt to/reverse of tapering before too long if we don't get another big rally. we'll know when it's coming because markets will start rising on bad news and falling on good news once again.
imho printing and zirp and tarp etc. have only bought more time - nothing has been fixed.
i'm expecting a halt to/reverse of tapering before too long if we don't get another big rally. we'll know when it's coming because markets will start rising on bad news and falling on good news once again.
imho printing and zirp and tarp etc. have only bought more time - nothing has been fixed.