Run, don't walk to the Grantham Mayo recent quarterly letter titled "Night of the Living Fed." It denounces the Fed for arrogance, incompetence, stubbornness, and mismanagement of monetary policy. Kinda like I have been writing for the past 5 years. Oh, and it criticizes QE2, as have many others since Bubble Ben has floated the idea of printing trillions. The Fed just doesn't get it. Massive QE doesn't create sustainable economic activity, create jobs or wealth, or solve any of the economy's structural issues. It does however, debase the dollar, spike commodity prices, raise inflation, encourage deficit spending, promote misallocation of resources, and screw the working class. That's right, it's hurts Joe Sixpack. It raises the price of imported goods, not smart in a 70% consumption economy, while giving large companies the ability to raise cheap capital to offshore jobs or dabble in financial engineering via equity for debt swaps. It fosters M&A which results in consolidation and job reduction. The Fed is ground zero for many of the leverage related problems we face, and its attempt to micromanage the economy through financial asset price manipulation has been an unmitigated disaster. GMO says it much better than I, and with more supporting evidence! Kudos to Mr Grantham.
couldn't have said it better myself..........what a joke you are Bman...........cheerleading QE2..........makes me sick
inflation check :
ReplyDeletei like to eat michaels unsalted potatoe chips.......7oz bag.........paid 4.99 last night............those used to be 3.99
i guees the common man won't be eating unsalted potatoe chips anymore.......let it fall my ass
i also buy Stacy's pita chips..........i dip those in hummus......3.99 a bag........those had a 2 handle couple years back
ReplyDeletelet it fall my ass
Run, don't walk to the Grantham Mayo recent quarterly letter titled "Night of the Living Fed." It denounces the Fed for arrogance, incompetence, stubbornness, and mismanagement of monetary policy. Kinda like I have been writing for the past 5 years. Oh, and it criticizes QE2, as have many others since Bubble Ben has floated the idea of printing trillions. The Fed just doesn't get it. Massive QE doesn't create sustainable economic activity, create jobs or wealth, or solve any of the economy's structural issues. It does however, debase the dollar, spike commodity prices, raise inflation, encourage deficit spending, promote misallocation of resources, and screw the working class. That's right, it's hurts Joe Sixpack. It raises the price of imported goods, not smart in a 70% consumption economy, while giving large companies the ability to raise cheap capital to offshore jobs or dabble in financial engineering via equity for debt swaps. It fosters M&A which results in consolidation and job reduction. The Fed is ground zero for many of the leverage related problems we face, and its attempt to micromanage the economy through financial asset price manipulation has been an unmitigated disaster. GMO says it much better than I, and with more supporting evidence! Kudos to Mr Grantham.
ReplyDeletecouldn't have said it better myself..........what a joke you are Bman...........cheerleading QE2..........makes me sick
Hey Spin did you do the sow this week ?
ReplyDeleteBud Quayle
ReplyDeletehttp://www.youtube.com/watch?v=WQnXe23izf8&feature=related
Inflation check :
ReplyDeletei like to Simply Orange juice - no pulp.........1.75l bottle for 3.79....that was about 3 bucks last year
i guees the common man won't be drinking oj soon............let it fall my ass
wtf you buy an Ipad for Bman ????? just take it with you wherever you go and stay in tune with your marxist blog
ReplyDeleteno posts til friday ..............what a bunch of thumping tosh