Janet Yellen as her first meeting as Chairwoman:
I am he as you are he as you are me and we are all together
See how they run like pigs from a gun,see how they fly
I’ m Crying
Posts Tagged ‘Richard Koo’
Notes From Underground: Europe … The Circle Be Unbroken
October 18, 2011Round and round the EU goes as it searches for a way to resolve its self-made crisis. As predicted, the Germans and French leaked news to the press–via the Guardian–that a deal had been struck, which would provide the EFSF and the ECB with an equivalent of 2 TRILLION Euros for aiding and abetting the bailout and support of the European financial system. The early afternoon news story gave impetus for the equities to RALLY as well as a SELLOFF in the DOLLAR. The precious metals staged a late recovery after a very severe correction in the morning–GOLD was down almost $50 at its lows.
Notes From Underground: FOMC MINUTES … Is This a Balance Sheet Recession?
August 30, 2011The August 9 FOMC minutes from were released today and there was a great deal of discussion about the issue of leaving rates at the present level for the next two years. It seems that one of the dissenters opposed the measure for he didn’t want the FED to be locked in to a decision and thought the measure should be subject to newly released data. There was much discussion about European banks and the efforts by the ECB to calm the storm and prevent a bank run. The FED did acknowledge that the biggest drag on U.S. growth was the “efforts to rebuild balance sheets and caution on the part of households facing an uncertain economic environment.”
Notes From Underground: NBER plays TOMMY; BENNY turns on the monetary jets
September 21, 2010In what must be the results of being rendered deaf and dumb by the credit implosion of the last 36 months, the National Bureau of Economic Research has declared that the recession has ended. It must be great to be an employed economist. In what world do these analysts live and the bigger question is why does it matter what they declare?