gnome is one of the few guys who GETS it. You'd be hard pressed to find any post over the years where the guy was off the mark. This AAA in the beltway, "free market" capitalist on the way up, socialist, currency debasing whining POS on the way down. I can't think of a post this guy has made in years that made any sense (outside of an obviously partisan agenda).
You know what they say about those who assume, right? I am long gold, long AUD, CAD. If anyone benefits from a rate cut it's these positions. Yet, I'm concerned about the price of food and energy in the past two years. And it's because of this kind of crap: Spewing money into the system to push inflation to the limit. Oh, right. The Core inflation rate is just fine. Well that's f'in great, but I and my family have to eat and warm our home with gas. Not to mention my currency going into the toilet.
You're supposed to be sanguine about all this and just take it up the tail pipe without a squawk. After all, you should "don't worry, be happy... inflation is only 2%"... Gummint said so.
What would be much better if you resign from ET with your ideas. Noone has any respect to your socialist ideas here Bernanke shouldn't cut at all and he wanted to do that. Although he coudn't resist outside pressure Have you seen anything good from rate cuts? I saw 10% dollar devaluation, 30% oil and gold rise and 20% stocks down since he started Why in the hell should he cut? He must rise and allow all this crap to unwind, if banks can't stand then nationalize them and don't devalue peoples money to bail out crooks
Obviously you two critics have never been to the Politics forum. I'm sure Pabst will find it amusing to learn that I'm a socialist. Why is it that neither one of you can grasp the point I have been making? See, it's not a question of whether Bernanke should be cutting rates or not. He was always going to end up cutting them. He proved that today. And what did he say about himself? That he didn't want to raise rates, as you guys assume, but was forced to by some outside pressure? So he's weak. Or, he did think it was appropriate to put in an emergency cut today, but didn't see aproblem three weeks ago, in which case, he's clueless. Which is worse? I 'm not sure.