Most frightening statement from the FOMC - ever: Be sure to have lots of USD on hand

Discussion in 'Economics' started by ByLoSellHi, Mar 19, 2009.

  1. If the guy was bullish, you would call him an idiot and make fun of him.

    You're bearish. We know. Seriously--all of ET knows.

    Some of the articles you post are informative, most are just bearish drivel rehashed. Now you're going to start bombarding us with random blogs?

    I'm also bearish long term, but give it a rest already.
  2. the1


    This is one of the best blogs I've read. Read this section. He's telling it exactly how it is. You can't <b>force</b> people or countries to take on debt.

    "We've got over a trillion in trash on our balance sheet now, which we promised would fix the problem but it didn't do jack. That's because nobody in their right mind will borrow money when the economy is in the tank and debt levels are above sustainable maximums. The only borrowers are people who are deadbeats, and that doesn't help. Instead of clearing this out by forcing the bankrupt to take their medicine our "solution" is to attempt to devalue the currency by explicit monetization. We have little choice in this matter because the most-recent TIC data that has been published, along with what hasn't been published (yet) but which we have, shows that foreigners have given us the finger in buying any more of our agency, corporate and sovereign debt. In short, we're screwed - within months - and we know it. "
  3. be honest; did you read and analyze what he wrote? Even partially?

  4. i have been reading the market ticker for a couple of years ..and he has been dead on ... about almost everything ...
  5. spersky


    I read that blog as well. It seems pretty apocalyptic. I think there will be a middle ground between the "Road Warrior" end of days that the blog describes and maybe just a few really really bad years.
  6. Illum


    Great blog, but I think he does not spend enough time on this point he made.

    "See, if he fails, it won't be simply a United States phenomena. Quite to the contrary. That failure will in fact be global - Bernanke has guaranteed it by tying The Fed to every other major central bank in the world via his "unlimited swap lines." We may be a cheap $5 hooker in the bar, but of the hookers, we've got crabs and everyone else has AIDS!"

    This is more than a competitive environment, it is an economic war. We can come out of this even stronger as the world begs no mas. Of course everything is relative and we are due for some pain... But in competitive terms the third world, who was on the rise, is smoked and will do as we want.
  7. Yes, I read most of it. I agree with alot of what he is saying, but it's not like he's breaking news.
  8. well if that lady (whatever her name is) didn't make those comments, would the market have gone down to 6500 ?

    bernanke and friends should have done what they did yesterday from the start.

    Keep in mind, the economy boom was all a mental state for consumers, people thought they had equity built up in their homes...they never really had it stashed it in their basement.

    so id people think all is ok, then the economy engine starts to turn again.

    it's all perception.

  9. If he's right, it's breaking news to me.

    I have not heard another person anywhere claim that Bernanke has intentionally put his hand on the grenade, and intentionally threatened the whole global room with it.

    More importantly, he's making a SUPER BULLISH LONG CALL on the US DOLLAR. Who else has done that lately?

    Everywhere I look, people are claiming that the USD will be toilet paper in short time.
    #10     Mar 19, 2009