Photo credit: @julesdwit.
A not-for-profit media organization supported by people like you.
The Federal Reserve (credit: Karen Bleier/AFP)
Felix Salmon, finance blogger for Reuters, discusses the announcement that the Federal Reserve will begin winding down stimulus efforts, and what this plan means for interest rates.
Mr. Lehrer, while trying to "play into" or "author" some viral meme you failed to use the time to "inform" your listeners.
I understand that the Federal Reserve is "printing" (I believe that was the word Mr. Salmon used)#85,000,000,000.00 per month as part of the current "monetary easing";though I think the conversation emphasized that Mr. Bernanke was not, repeat not, going to end that program now, but was merely signalling the "intention" to "taper the purchases" in the foreseeable future if certain economic goals are reached, it was never clearly stated what the amount of "taper" would be [e.g., $85 billion to 80 billion, or to 60 billion, or to 40 billion, or to 20 billion?] or, what specific goals needed to be met?
Did anyone else get that information?
The people need to storm that den of iniquity that far exceeds any ordinary house of ill repute in sordidness and villainy: The New York Stock Exchange. En masse, in the MILLIONS. And declare: We will not leave until:1.) the architects of the economic collapse (and so much more) are taken into custody and tried for the financial terrorism that they have perpetrated,and,2.) there is a complete overhaul of this corrupt, immoral system.
Can they arrest millions of people?
But, of course, I am engaging in pure fantasy here.
Extensive, deep indoctrination along with celebrity and sport worship, hedonistic materialism/consumerism, corrosive smut, etc., etc. keep the masses ignorant, unaware, complacent and all too often /complicit/.
The GOP know why they want austerity. It's because there is a whole lot of money missing from the equation. All that money is money that rich people have holed away and avoided paying taxes on, and that corporations are keeping as bonuses and holing away into off shore accounts and not paying their employees. Income inequality and rich/corporate tax avoiders is what is causing the problem. Of course they want the rest of us to suffer austerity programs! They don't want to give up all the money they stole from the economy! Meanwhile, we keep printing dollars and doing QE's and the corporations and rich people continue to hole away the money.
(Free Advice: ALWAYS bet on the US.)
This guy has been investing successfully for 50 years and just pulled out "all his cash"?
i don't blame brian but couldn't Felix Salmon think of at least one or two questions for the caller? (Like, have you ever pulled your cash before, and if so what pulled you back into the market? Or, which shoes you are waiting for to drop and why?)
Good investment? That's like having good luck. Every investment is a speculation - a gamble. World growth is happening, but slowly, faster in the undeveloped countries than in the developed ones.
This is history repeating itself. Think back to FDR's second term when the same thing happened. Bernanke should reread what he has been preaching.
If homeowners are getting 30-year mortgages at 3.5%, it's gonna be a LOOOONNNNGGGG time before we get 5% interest on savings.
Why 2% growth? Because we don't have enough young people - well trained and well-educated young people - to do the skilled work and pay the taxes required to take care of any army of old retirees like myself! How do you abort over 50 million babies, and import millions legal and illegal immigrants, many of whom come unskilled, and expect to get even 2% growth? How do we expect to get any economic growth AT ALL?
Why is low unemployment a good thing? People work too much as it is.
The market is a gambling house. Let it burn.
It's time we put Ben Bernake in prison for giving away money to the crooked bankers as the American People suffer.
Doug Henwood claims that content he originally wrote appears some time later in regurgitated form in Krugman's columns:http://www.leftbusinessobserver.com/KrugmanAd.html
An End in Sight for the county. RIP, USA.
there is a killer article in the NYT by Krugmann on this matter:.nytimes.com/2013/06/21/opinion/krugman-profits-without-production.html?hp&_r=0
you gotta read it!
"With Gulliver Asleep, The Lilliputians Are Almost Done Smothering The U.S. Economy" FORBES MAGAZINE
"...cumulative effect of myriad tethers, so the American economy’s tremendous strength and energy have been progressively overcome and subdued by innumerable government (and its partner in crime, the Federal Reserve) interferences with the market economy. Taken individually, each intervention has been a minor nuisance in the economy; taken collectively, though, they have been subduing the American Gulliver."
i.e.- "death of a giant by a thousand (regulatory) cuts" and the highest corporate tax rates in the world.
Good job, "Pro-Growth Barry"!!
Email addresses are required but never displayed.
Brian Lehrer leads the conversation about what matters most now in local and national politics, our own communities and our lives.
Subscribe on iTunes
WNYC 93.9 FM and AM 820 are New York's flagship public radio
stations, broadcasting the finest programs from NPR and PRI, as well as a wide range of award-winning local
programming. WNYC is a division of
New York Public Radio.