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Fed Breathes Premature "Sigh of Relief"
Submitted by Michael Nystrom on Wed, 06/24/2009 - 12:35
in
WASHINGTON (MarketWatch) -- Top U.S. monetary-policy makers at the Federal Reserve breathed a big sigh of relief: The second coming of the Great Depression has been averted. The markets appear to disagree. » |
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The federal reserve and...
the united states government is in the full time business of lying and it's rather unfortunate but many of the states' governments have jumped on the lying bandwagon as well. Stay focused and stay sharp and go with what you know.
So, the FED figures our economy is a...
canoe. See, a canoe cannot "sink". It's construction will allow it to fill completely with water, submerge, and "float" just below the water line. It will stay that way untill it rusts away or rots; I know this because I've spent many a summer day floating around in the lake in a "sunken" canoe. Nonetheless, our economy is a canoe to the FED. It's underwater, rotting away, but it's still "floating" under the pressure. Well, if this is the way a world superpower and bastion of Liberty operates, woe be unto the rest of the world. Be prepared, our economic canoe might float when it's fully submerged, but the FED has forgotten the falls up ahead. They've tossed out the paddles and are asleep in the sunshine of their massive theft. They'll damn us to oblivion before they jump ship, so when you see them scatter, you better be ready to swim against the current, or be dashed upon the rocks below.
Assert Your Authority
Assert Your Authority
If the paddler had an aggressive bomb-proof canoe roll...
the canoe could be rolled over, dumped out and rolled back up easily and a bail bucket could scoop out the last couple gallons, before the next rapid. In other words, if the little people paddling the canoe would prepare themselves for rough water, scout rapids, outfit their boats properly and use their heads they wouldn't swamp in the first place. If you don't hit your line perfectly a wave will fill up your boat. That's life. But a paddler armed with some experience can pull out of a screwed-up run. The Fed has given us a canoe with no paddle, lifejacket or helmet and encouraged us to get in and float off a waterfall. Common sense should tell us that danger is ahead and demand to see a map, but we seem to have lost that.
This little river rat loves that analogy!
Our fleet includes a canoe, and we do some pretty serious whitewater in it. And you are right, it floats. However, it behaves like a Weeble. Try to reach out and paddle, the whole boat lists to that side. And it WILL turn upside down. Yes, yes, it STILL floats, even upside down. Tough to ride in that way, though.
I want to try a kayak economy. Everybody in there own boat, making their own way down the river. How about that?
Truth exists, and it deserves to be cherished.
edit
edit
If you're going to whitewater...
I feel that it's best to each be in individual boats. I've done funyaks (the inflatable kayaks) and six man rafts. If you're not up front, or in the guide seat of a mulitple man raft then you're just along for the ride. I think it's a good idea to have a kayak economy, maybe you should allow family rafts as well. Canoes should be welcome also, just not the FED; and keep the government on the shore, or relegated to driving the pick up bus.
Assert Your Authority
Assert Your Authority
"Hood ornament"
That is what we call those without a paddle in their hand.
Paddle rafts can be a hoot, though. We have a little 11.5 footer that we put four or five people in, everyone paddles and gets drenched.
Truth exists, and it deserves to be cherished.
I went for the raft
vs. the canoe, I just pray it doesn't deflate.
Do you have a shredder?
.
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No, I have the same boat I have had for 20 years
It was cutting edge back then, rotomolded! I hated to part with Vilya, my first 'yak, but she was fiberglass and I had had enough fiber-ass to last a lifetime. I upgraded... once.
Truth exists, and it deserves to be cherished.
Shwew! That was close!
I feel so much better now. Maybe I will go get a new credit card and go celebrate...
I don't know why their tongues don't jump out of their mouths and slap their lying faces..
Truth exists, and it deserves to be cherished.
What a relief!
Apparently one can double the money supply and not cause inflation. Clearly faith in the dollar trumps reality and the emperor isn't naked until more of us say so.
IMissLiberty
IMissLiberty
Buffett says economy in "shambles"
Sees no signs of recovery. He's not convinced, the way the Fed is.
http://www.cnbc.com/id/31526130
Fed Keeps Rates On Hold, Citing Weak US Economy
The Federal Reserve, as expected, dampened expectations for interest rate hikes this year, while holding steady on its plans for asset purchases.
Ben Bernanke
Mary Altaffer / AP
Federal Reserve Bank Chairman Ben Bernanke
The US central bank decided to hold its target for the federal funds rate, the rate banks charge each other for overnight loans, in the zero to 0.25 percent range reached in December.
That means commercial banks' prime lending rate, used to peg rates on home equity loans, certain credit cards and other consumer loans, will stay around 3.25 percent, the lowest in decades.
http://www.cnbc.com/id/31528153?sec=topStories&pos=main&asse...
Here is the hype/spin.
Fed mulls tweaks to economic revival programs
Fed weighs whether economic revival programs should be slowed amid some signs of improvement
* By Jeannine Aversa, AP Economics Writer
* On Wednesday June 24, 2009, 12:54 pm EDT
WASHINGTON (AP) -- With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.
Most economists predict that Fed Chairman Ben Bernanke and his colleagues, who resumed meeting Wednesday morning, won't launch any bold new efforts at the end of their two-day gathering.
Fears have grown on Wall Street that the Fed's radical efforts to lift the country out of the longest recession since World War II could ignite inflation later on.
"Injecting additional money into the banking system is a pretty dangerous game right now, and the Fed cannot afford to press on the accelerator amid a potentially inflationary environment," said Richard Yamarone, economist at Argus Research.
More:
http://finance.yahoo.com/news/Fed-mulls-tweaks-to-economic-a...
What will they do? Keep rates the same or increase?
They will make no changes.....nothing. That is my guess.
They are not done buying up everything yet.
So exciting ..
Every time I hear the phrase "the fed adding to its balance sheet" I want to barf.
When will they call such actions what it it ... the fed devaluing our currency.
balance sheet should be renamed
I'm not clever enough to come up with it, but the joke is there
unbalanced sheet?
wobbly sheet?
oh my goodness how are we in so much debt sheet?
similiarly the Profit and Loss sheet should also be called
the Loss and Lost Sheet
all I can think is...Holy
all I can think is...Holy Sheet!
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I'd rather have a bottle in front of me than a frontal lobotomy
I'd rather have a bottle in front of me than a frontal lobotomy
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that was it!
Thats really funny