Does the adminstration ever consider that stock markets have just rallied 75 percent in the last 9 1/2 months and junk yields are sky rocketing? Things are massively overshooting The policy of trying to resky asset prices is absolutely fucking crazy.
Believe me when I say they have no clue of whats going to happen after creating the most easy free money policy since the GREAT DEPRESSION.
They seem to think that the way out of this is what got us into it. It makes no sense. risk is probably astronomical right now even though all indicators point otherwise. just like in 07
I think most would have to agree with you. However this not about anything other than Wall St. and associates linning their pockets. Hand pick and cultivated with the old saying Made only in america.
Actually I dont really think that. I really see it as Wall Street just following along with Geithner< Bernanke, and Summers who dont understand risk at all. The bankers are bad, but the intellectual elite are much worse and there is no recourse for punshing idiot academics. they will still be there pumping out bullshit theories and making this system really fragile. Why do they assume that lowering bowering costs is always the way to go? I dont think anything will change until this whole system totally fails. I have no doubt it eventually will
Wasn't it just about two years ago that he also said it was the strongest economy he had ever seen? And it's not business as usual on Wall Street. In the past they would fleece whatever sheep they could get their hands on. Now they are fleecing the taxpayers.
yes they are, but the idiot government is letting them do it. obama the biggest moron of them all is absolutely destroying himself.
Agreed. I also reject the notion that this is some joint effort to make Wall St. rich (again). This is a desperate and clueless attempt to prop up the Hope and Change administration, which is facing the reality of massive buyer's remorse once people really start to understand the gravity of the situation. That is what this is about. And sure, Wall St. will take what it can get in the process, but they are not the driving factor of these idiotic policies. If you think the Fed is divorced from politics, then people have no clue. Going back to Nixon and even before, Fed chairmen have often enacted and maintained policies that helped get the incumbents re-elected, or so they had expected. The question is whether this bubble in the making will burst badly enough prior to the mid-terms or 2012. I am not sure about 2010, it could be held off that long, but I really fail to see how it can be staved off past 2012. Obama might just see himself getting kicked out of office on the very wave he came in on. A market crash.