Ben Bernanke & US Fed 01 (May 08 - Nov 10 )

Re: Ben Bernanke / US Fed

Postby profittaker » Wed Oct 27, 2010 9:23 pm

Treasuries Fall for Sixth Day as Greek Yields Soar; Futures, Metals Drop ... akens.html

The 10-year Treasury note yield rose five basis points to 2.69 percent at 7:50 a.m. in New York, and Germany’s 10-year bund yield rose six basis points to 2.58. The extra yield investors demand to hold Greek 10-year bonds instead of German bunds widened 40 basis points to 756 basis points, the most since Oct. 8. Standard & Poor’s 500 Index futures sank 0.6 percent, while the Stoxx Europe 600 Index fluctuated. The S&P GSCI Index of 24 commodities fell 0.9 percent, led by cotton.

U.S. durable-goods orders probably climbed in September by the most in five months, according to a Bloomberg survey before today’s report. Reports yesterday showed consumer confidence rose more than expected and home prices unexpectedly increased, giving the Fed less reason to boost quantitative easing. The central bank may limit bond purchases to a few hundred billion dollars at next week’s meeting, the Wall Street Journal reported

Greek 10-year bonds tumbled for the third consecutive day, with the yield jumping 58 basis points to 10.34 percent. Last year’s budget deficit will be revised above 15 percent of gross domestic product by the European Union, Finance Minister George Papaconstantinou said today in Limassol, Cyprus. The nation has serious tax compliance issues, he said.
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Re: Ben Bernanke / US Fed

Postby winston » Tue Nov 09, 2010 8:09 am

Why try to fix something when it's not broken ? Unless he knows that it's broken or he was high on something and thought that it was broken ?


As usual, the latest Hussman letter is an honest and realistic perspective on what is going on today. This week’s letter is a scathing criticism of Federal Reserve policies and their blatant manipulation and counterproductive policy responses. The primary target of this week’s letter is quantitative easing.

In discussing Mr. Bernanke’s Washington Post op-ed Mr. Hussman refers to the Chairman’s comments as “the most ignorant remarks ever made by a central banker”. I entirely agree and believe that these same comments will forever haunt Mr. Bernanke.

Naturally, I think Mr. Hussman is right and it’s clear in my opinion that the Federal Reserve is becoming part of the problem and not the solution.
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