The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

It Is Not Often That I Greet A New Federal Reserve Chair. . .

Posted on | January 6, 2014 | 9 Comments

by Smitty

Cultural references, alas.

Before it ends YOU!

Comments

9 Responses to “It Is Not Often That I Greet A New Federal Reserve Chair. . .”

  1. Political Rift » It Is Not Often That I Greet A New Federal Reserve Chair. . .
    January 6th, 2014 @ 9:27 pm

    […] smitty by Smitty Cultural references, alas. Before it ends […]

  2. M. Thompson
    January 6th, 2014 @ 11:56 pm

    Zombie Greenspan was the best idea Stacy’s Crazy Cousin John ever had.

  3. NeoWayland
    January 7th, 2014 @ 1:19 am

    So how many of the stock “gains” in the last six years were because of the various QE schemes?

    Or, when government controls the money, it’s all about the politics.

  4. Adjoran
    January 7th, 2014 @ 2:24 am

    Frankly, a significant amount. Keeping interest rates artificially low pressure investment managers who need to show some sort of returns to move money from the bond market (for many decades, about four times the equities markets in value) into equities, just to keep their jobs.

    When interest rates are kept below the nominal rate of inflation, it is effectively a sharp tax on saving. That the Bernanke-Yellin policies of “easing” and “asset purchasing” are anti-growth should be evident from experience now.

    Or they could explain how their policies are any different than the Bank of Japan’s after their own banking crisis over 20 years ago – or better still, why we should expect a different result from doing the same thing.

  5. K-Bob
    January 7th, 2014 @ 3:29 am

    Stock market up, number of unemployed no longer looking for work also up.

    It’s only good when there’s an inverse relationship.

  6. NeoWayland
    January 7th, 2014 @ 7:00 am

    I’m so glad to see that others understand that the “benefits” come with heavy costs.

  7. Evi L. Bloggerlady
    January 7th, 2014 @ 12:40 pm
  8. RichFader
    January 7th, 2014 @ 7:51 pm
  9. ib1netmon
    January 7th, 2014 @ 8:54 pm

    Not too hard to understand when you look at who benefits versus who pays the costs.