If QE Was Withdrawn....

talexuser

bowlhead99 wrote: »

But as I don't really indulge myself in ranting on and on about how the government or the opposition or the corporate fatcats or the bankers are all a robbing bunch of crooks...

Why not? It really can provide a great deal of satisfaction :rotfl:

p.s. Bankers+Gangsters= Banksters (e.g. Fred Goodwin's managerial style 'rule by fear' often likened by employees to Al Capone's, now superseded by "too big to fail" = Don Corleone's "offer you can't refuse").

Glen_Clark

sabretoothtigger wrote: »

Look for something new beyond the same old arguments. What are the biggest changes in 40 years, they didnt invent greed recently

No, but the scale of greed that led to banks going bust and being bailed out by the taxpayer is fairly recent. And if you just ignore it, then it gets worse.

sabretoothtigger

Im not sure gov bailing out was greed. The greatest harm can be done with misguided good intentions.
Ben B thinks he is a good man, doing 'what must be done'. People who know they are wrong from the start, greedy or exploitive, whatever vice; are not nearly as determined
That is why he and the situation is so dangerous and totally misguided

So far as I know he can overrule everyone else on the FED board and act unilaterally, actions which should not be part of an economy.
Im sure it'll all fall apart at some point and become obviously a failure of ideas.
At that point it will appear terrible but we'll be better off admitting defeat of this modern big gov neo capitalist thinking

dktreesea

Glen_Clark wrote: »

No, but the scale of greed that led to banks going bust and being bailed out by the taxpayer is fairly recent. And if you just ignore it, then it gets worse.

On the one hand there's the reckless actions of bankers once they got their mitts on some clients' money to gamble with. But behind that is a culture of wanting something for nothing, of wanting a "decent return on investment" on funds deposited with a bank, a kind of sit back, do nothing and watch the money rolling in approach.

This is so different to what happened in the past, where money, rather than being hoarded in this way, was invested in producing physical goods, or research and development.

JohnRo

a wonderful insight into the scumbag lunatics running the financial asylum

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10141604/Stick-two-fingers-up-at-Britain-and-Germany-joked-Anglo-Irish-Bank-boss.html

Glen_Clark

JohnRo wrote: »

a wonderful insight into the scumbag lunatics running the financial asylum

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10141604/Stick-two-fingers-up-at-Britain-and-Germany-joked-Anglo-Irish-Bank-boss.html

Particularly since Osborne borrowed 7bn Euro to 'lend' to Ireland as part of their bail out, Britain subsequently lost its own credit rating.
If the Irish banks are creditworthy why can't they borrow it from whoever Britain is borrowing it from?

Glen_Clark

dktreesea wrote: »

On the one hand there's the reckless actions of bankers once they got their mitts on some clients' money to gamble with. But behind that is a culture of wanting something for nothing, of wanting a "decent return on investment" on funds deposited with a bank, a kind of sit back, do nothing and watch the money rolling in approach.

This is so different to what happened in the past, where money, rather than being hoarded in this way, was invested in producing physical goods, or research and development.

Times have changed. In the days when British Industry led the world, only about 10% of the children went into secondary education because only the upper classes could afford it. 90% went straight into work. So we had all these bright kids going into productive industry at the peak of their learning ability.
Universal education has meant the brightest kids are creamed off and trained in non productive subjects. So we haven't got the skills to produce real wealth any more. All they can think of is shifting around and inflating the price of old assets, instead of creating new ones. Builders have been replaced by Estate Agents.

sabretoothtigger

Fed's Dudley Says Policy to Remain Supportive as Economy Improves
By Matthew Walter A leading policy maker at the Federal Reserve said Tuesday that even as the economy's underlying fundamentals improve, the central bank isn't yet ready to begin tightening monetary policy. William Dudley, President of the Federal Reserve Bank of New York, said that while it is likely the Federal Open Market Committee will begin phasing out a bond-buying program later this year, such a move should not be taken as a signal they plan to move forward any increase in short-term interest rates. "As long as the FOMC continues its asset purchases it is adding monetary policy accommodation, not tightening monetary policy," Mr. Dudley said. His comments Tuesday at an event in Stamford, Conn. reinforced the message he sent last week in a press briefing, when he indicated that markets had gotten ahead of themselves in raising expectations that short-term interest rates might rise as early as next year. Financial markets reacted strongly to Fed Chairman Ben Bernanke's speech last month, in which he indicated that U.S. economic growth is on track to accelerate in the coming years, giving the central bank room to begin pulling back from its exceptionally loose monetary policy stance. Mr. Bernanke laid out a tentative timeline for the central bank to begin winding down its $85 billion a month in asset purchases, which are designed to keep long-term interest rates low and stimulate spending and investment. But his remarks also led some investors in interest rate markets to raise expectations for an increase in short-term interest rates as early as late 2014, sooner than previous expectations that rates wouldn't likely rise until sometime in 2015. That prompted several central bank officials, including Mr. Dudley, to try to clarify that such a move isn't likely to come so soon. "A rise in short-term rates is very likely to be a long way off," Mr. Dudley repeated Tuesday. The central banker has said that any reduction in the Fed's bond buying program would likely occur at a measured pace, with the asset purchases being phased out over a period of months. As long as the economy continues to improve, the program could be eliminated sometime in 2014, when the unemployment rate is expected to fall to around 7%, Mr. Dudley said. The U.S. unemployment rate was 7.6% in May. Investors are expected to pay especially close attention to this Friday's June employment report to gauge the strength of the labor market, which is seen as a key driver of the Fed's monetary policy decisions. The consensus forecast from a Dow Jones survey calls for an increase of 160,000 in non-farm payrolls during the month, with the jobless rate ticking down slightly to 7.5%.

July 02, 2013 12:31 ET (16:31 GMT)