Formerly NE North Dakota, now NW MN | I agree that's the question, but its not the federal reserves problem to answer it. Its the useless jackwagons in d.c.s problem to deal with the deficit. I've always felt qe2 was bernankes attempt to get in front of the "crowding out" effect that the stupid stimulus was going to/did have on the economy. In that regard, I feel it was aimed at the real economy.
We as conservatives (I mean that in the sense of "we value economic freedom", not necessarily "we value conservative politics") need to get better at this game! Right now there's a raging debate "Summers or Yellen".... All the respected economists are coming out for yellen because she represents "the eventual taper". No real idea when that will be. Story leaking out now is that taper1 will be buying less treasuries and maybe even more mbs. Ok... Well at least that is being done for the economy or cynics will say to boost the banking system, which is still better than what summers will do. Summers will return to the iron fist, "if you think you understood me, perhaps I was being unduely clear" ways of Greenspan, only with a purely political motive. The baby steps of transparency and tolleration of dissent that bernanke has fostered will be gone, in its place will be the Larry summers "prints enough food stamps for everyone in America to buy a Tesla" economic plan. This is why hardcore leftists ECT.. Are coming out for Summers. On a personal note, I can't stand listening to him talk. Anyways, summers will give us true QE unlimited.
So here we all are, a large chunk of the.midwest, not exactly thrilled with either. If we were smart, we would have worked to build our influence, figured out a way to push for Esther George or her predecessor Hoenig to chair the FOMC. THE COASTLINES COULD LEARN A THING OR TWO ABOUT FINANCE AND RISK FROM THE MIDWEST. Instead, we're debating if the fed should exist or not. I don't mean you and I either John, I moreso mean our useless politicians, and 10x more useless media.
I always appreciate your posts John. |
No QE? No more bull markets
