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Bernanke's Policy Shift: Book Smart vs. Street Smart »

Posted by: universal12 1 year ago

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The Fed's statement after the August 7th meeting indicated the primary concern was inflation's potential impact on the economy. In the week's leading up to the August 17th discount rate reduction, the Fed made a number of statements indicating the subprime issue was" contained".

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scriblerus11 year ago

So Bernanke says the problem is contained. Hardly. The economy depends more and more on shaky, deceptive financing and puffery. It is a house of cards which could collapse at any moment given the proverbial straw that breaks the camel's back.
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Commodore11 year ago

Well said Scriblerus1.
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Shadowolf1 year ago

Probably it is only contained until they find a way to blame Bill Clinton...
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universal121 year ago

A lot of book smart and not so much street smarts.
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Shadowolf1 year ago

Well, those who live at street level never did matter much to the "Elite"...
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  marshx11 months, 4 weeks ago
  
  lol!
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universal121 year ago

You are right, the elite usually care mostly about the elite
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simonsez1 year ago

There is some kind of an excess every few years and life goes on.
The world economy is much too complex to be controlled by one man and is much more stable than most think.
The market is psychological, however, responding to fear, uncertainty, greed and the latest scare stories. It means nothing.
Within a few weeks, CNBC and other will claim the "market is oversold" and the money that came out goes back in. The government gets it's capital gains taxes, the brokers make their commissions in and out, they get their bonus's in January and it all starts over.
Everyone has a right to buy good companies. Buy them, relax and let it grow. And DON't let them scare you out!
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canadianrancher571 year ago

There are a few of us out here who get a little upset by the things that keep happening in regards to the economy, we are told that it is a free market system and yet when a major correction is needed it is thwarted by the fed. These people who are in control of the money supply are willing to watch as some of the small investor get fleeced but if the damage moves to the large investment houses action is quick. I really wonder about the qualifications of these people since they seem to change policy and don't understand some of the implications of overspending, The Idea of throwning more fuel on a fire sometimes is not the best policy. I will agree with simonsez though when it comes to not getting scared out,but it depends on your timeframe and ability to take a loss.
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CaptainLucid1 year ago

I think the 2 main problems with the economy are crack rock responses and gambling with other peoples money. The economy has structural mechanisms that control cheating. There are many ways to change things in the short term like interest rates, releasing more currency, deficit spending but there is always a consequence like inflation, debt. Most politicians can't buck up to the table and say we need to tighten our belts and make some hard changes. They go for the short term high by borrowing. Then the high wears off so they jit it again. Pretty soon we are looking at almost 10 Trillion in debt and wondering what happened. The other problem is big companies never lose and they know it. The feds will cover the bill. Would I hit on a 16 if the dealer is showing a 5? Hell no. But what if somone promised to cover me if I lost but if I win I keep my winnings? Of course. The odds are crappy but I can't lose.
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walden31 year ago

the bush team is bush league.
bush sec of labor - chao
bush sec of treasury - snow
fed chairman - bernanke
clinton sec of labor - reich
clinton sec of treasury - rubin
fed chairman - greenspan
you choose who you want to play on your team.
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