2. This event is being streamed via the
internet to a few small corners of the
world…
Warning:
3. The views expressed today are my own.
They do not reflect the views of the
sponsors, my employer, or probably
anyone else, and if you don’t like them
you can blame my mother for the way
she raised me.
Disclaimer:
24. 1. I decide to build.
2. Bernanke decides to talk “taper”
25.
26. “
”
If employment & prices are strong,
We can give up QE before long,
So we're tapering it,
But just by a bit,
In case we turn out to be wrong.
FRIDAY, AUGUST 16, 2013
Advance Draft of Next FOMC Statement from:
Dr. Goose (www.limericksecon.com)
34. “
”
It is well enough that people of
the nation do not understand our
banking and money system, for if
they did, I believe there would be
a revolution before tomorrow
morning
HENRY FORD
Poll Title: Please Rate the Economic Condition of the Regional Economy
http://www.polleverywhere.com/multiple_choice_polls/CPze5SdpM1mM6RHAmericans' net rating of current economic conditions was -15 last week, representing 19% who say the economy is "excellent" or "good" and 34% who say it is "poor." This rating is down from -12 the prior week, but on par with the relatively low ratings Gallup measured in July.
Everyone loves a 50% off sale, even if it comes the day after a 100% increase in prices. Anchoring.
5 Patients. 1 Drug, we will call it the FED, and a Placebo, we will call it the ECB.
Poll Title: What is the closest number to the rate of inflation over the last 12 months?
http://www.polleverywhere.com/multiple_choice_polls/Cf0ssGHNeUg4OL6
Poll Title: What is the closest number to the rate of inflation over the next 12 months?
http://www.polleverywhere.com/multiple_choice_polls/7JGasRY4Qs4xCKT
http://www.policyuncertainty.com/methodology.html
Dr. Goose (@DrGooseEcon) tweeted at 7:39 AM on Thu, Aug 15, 2013:The Fed will undoubtedly taperIts purchase of Treasury paperAs the jobless rate nowAnd inflation allowAn end to their stimulus caper.(https://twitter.com/DrGooseEcon/status/367988948871938048)
“It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning.” Henry Ford, founder of the Ford Motor Company.
Our local community bankers, many of whom have been operating responsibly and successfully for decades, are now subject to a wide range of increased regulatory scrutiny, tighter credit requirements and increased risk and process documentation. Our local recommendation is to have two tiers of regulatory oversight - one for the bad actors whose performance of the past decade suggest higher requirements, and another for those good actors [typically local, community based, incorporating quality of loan proposal and performance into staff compensation instead of high production, incentive-based compensation] who have proven their quality underwriting process. Is this possible? Experience rating regulatory oversight?
While the Fed is working very hard to keep our economy in balance, Congress and the President continue to fail miserably at addressing massive structural deficits, especially in entitlements. At what point will this failure to confront spending and debt issues overcome the ability of the Fed to keep our economy in balance?
Poll Title: What is your question for Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis?
http://www.polleverywhere.com/free_text_polls/SUXg53VUdTEVRrt
Fed officials and others suggest that the country needs to take certain steps to "get back" to the economic conditions and low unemployment of the mid-2000s. But those conditions were a “house of cards” and attempting to "get back" to those conditions is either impossible, or if it is possible, it just sets us up for another bubble collapse. Are we doomed to repeat the recent past in an attempt to re-establish extremely low unemployment rates, extremely high property value appreciation rates, and so on?
Conversation about tapering of the Federal Reserve’s U.S. debt purchases has had a large impact on the market. Is this correct or an over-reaction?
Provided the economy continues to grow at the current slow rate and unemployment continues to improve only slightly at the same rate and inflation is held in check, how long do you foresee the Fed continuing its low interest rate policy?
Poll Title: What is your question for Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis?
http://www.polleverywhere.com/free_text_polls/SUXg53VUdTEVRrt