Tuesday, July 17, 2012

Bernarke testimony July 17 2012


Re:What??? First question is on LIBOR???

 The economy is doing badly and yet the FIRST question these guys ask
Bernanke is about the Libor scandal?

Are we more interested is lampooning banks or understanding what the
economy needs? What 'we' can do?

Oh I See my mistake....

 since the Chairman said  what's needed is to eliminate the fiscal cliff
Congress does not want to go there.

It wants to make hay over banks and bad bankers. Is that going to help us???

This is as bad as Obama... when first elected going after healthcare reform
instead of growth and job creation.

This is misguided

This is a terrible grandstanding show by our 'leaders'. No wonder the Fed
is seen as the last game in town even when it is not its job.

Disgusting isn't it?


Bernanke as expected..NO MAS-Promised

Bernanke remarks....

This what the Fed has said again and again.

it stands ready to do more.

Despite a cut in the GDP outlook the Fed Chairman points to things beyond the reach of monetary policy as risks he cites the risk  of Europe and the fiscal cliff. Does more QE fix either of these???

Today the NAHB index jumped SIX HUGE Points ahead of the Bernanke testimony.Also MFG IP rose sharply in a report issued today. the economy is not ONLY weak it is MIXED. The outlook is CONFUSED and he says uncertain.

Uncertainty CUTS BOTH WAYS!!!

The economic data are mixed and what is wrong QE won't fix. WON'T FIX. WON'T FIX write that 100 times!!! 

Why is the Street so fixated on the Fed? Why are investors globally fixated on central banks doing more when they have already done too much?

We have fiscal problems and policy confidence problems. Central banks overdoing it will only worsen confidence and worsen results in the end.  


Bernanke has laid the groundwork for continuing to be wishy-washy

 I see the same old same old in this report.

The market which wanted the promise of more did not get its fix.

Bernanke is not sticking his neck out. he is not promising any more than he did in his last public meeting

I see little new here.

The just got done extending Op Twist.

It is STILL  watching and waiting.