Apparently, the propaganda has begun to build around our current Fed Chairman, Ben Bernanke, as evidenced by this small blurb in the morning’s Financial Times: Challenges Mount For ‘National Hero’ Bernanke Of course, the gushing comments come from two prominent figures of the short-sighted, slash-and-burn corporate America that rules over our country: Jack Welch and [...]
Paraphrasing Congresswoman Sanchez who asked Bernanke why stocks jump in the aftermath of rate cuts only to sell off harder once the afterglow wears off. She questioned whether the Fed’s tools were no longer sufficient for the current crisis. Of course, the right answer is the Fed is not interested in propping up stock market [...]
Sorry for the absence but it couldn’t be helped — docs think it was a passed gall stone combined with an antibiotic-induced pancreatitis. I haven’t eaten anything since Thursday. Luckily, they had cable but I’ve got to be honest — CNBC is a wasteland during market hours. Fast Money and Cramer were the only shows [...]
Obviously, the Fed will cut today. Whether it be 25 or 50 bp, I’m leaning toward the latter but really, I’m not that vested in today’s decision. I’m positioned to benefit in the intermediate-term from the Fed’s obvious easing cycle. Whether that happens today or over the course of the next year isn’t important (and [...]
During Bernanke’s testimony a couple of weeks ago in Washington, Helicopter Ben suggested that Fannie and Freddie be allowed to raise the caps on loans they can accept to help alleviate pressure in the mortgage-backed securities market. This proposal elicited a violent reaction from me. If Chuck Schumer manages to get this proposal enacted, I [...]
Any person who has ever interacted with dogs on a regular basis knows that you need to establish that you are the leader of the pack and that it (the dog) needs to follow you. Failing this, you will lose control, with varying destructive consequences (depending on the dog, of course). Back at the beginning [...]
