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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (66936)	10/7/2010 8:05:49 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217946

i do not actually blame anyone for the bubbles i rather enjoy the sport level playing field or not i just checked out buffett's berkshire, and note he did a double in a decade, whereas gold did a quad+ in same time what fun, truly

To: Maurice Winn who wrote (66936)	10/7/2010 8:30:04 PM
From: TobagoJack	Read Replies (2) \| Respond to of 217946

some folks still have a clue, but they shall be silenced, else game over just in in-tray Fed's Fisher - the only remaining hawk aside from Hoenig and one of the few on the Fed board who actually really have an inkling of economics (he used to be a businessman, not a life-long bureaucrat, for one thing, and his comments often make sense), isn't ready to throw the towel yet: Fed's Fisher Repeats Doubts More Easing Will Work (Update1) 2010-10-07 18:13:14.402 GMT (Updates with comment on uncertainty in eighth paragraph.) By Vivien Lou Chen Oct. 7 (Bloomberg) -- Federal Reserve Bank of Dallas President Richard Fisher repeated doubts that further monetary easing will spur employment and said policy makers haven't settled a debate over whether to take new steps. "There is a great deal of legitimate debate still to take place within the FOMC on the subject of quantitative easing, and the pros and cons and costs and benefits of further monetary accommodation," Fisher said in the text of a speech today in Minneapolis, referring to the policy-setting Federal Open Market Committee. Fisher's remarks, similar to those he made in Vancouver last week, sought to dispel speculation that Fed policy makers have made up their minds to pursue a second round of unconventional accommodation. The FOMC said Sept. 21 that it's prepared to take action "if needed" to spur growth and achieve its mandate of stable prices and full employment. "I instinctively understand the impulse to put the monetary pedal to the metal to try to move the needle on employment growth," he said. "And yet the efficacy of further accommodation at this point has yet to be established." Fisher said that "whatever we might do, if anything, must be consistent with long-term price stability and not add to the nightmare of confusing signals already being sent to job creators." Jobs Report Fisher said he sees "only modest third-quarter growth, with an acceleration to moderate growth after that." The economic recovery that started in June of last year has so far failed to reduce the unemployment rate. A Labor Department report tomorrow will probably show that the jobless rate in September rose to 9.7 percent from 9.6 percent the prior month, according to the median forecast in a Bloomberg News survey of economists. The projected reading means the rate would have equaled or exceeded 9.5 percent for 14 consecutive months, surpassing the 13-month period from mid-1982 to mid-1983 as the longest span of elevated joblessness since monthly records began in 1948. Fisher said the business executives he talks with are holding back from expanding in the U.S. partly because of uncertainty over new regulations, such as health care, and the prospect of tax increases. Such uncertainty is "indisputably" restraining the recovery, and "there are limits to what monetary policy can accomplish if fiscal policy blocks the road," he said. Yields on U.S. 10-year notes have fallen to 2.39 percent from 2.7 percent on Sept. 20, the day before the last FOMC meeting, on expectations the central bank will ease policy further. The two-year note yield fell 2 basis points to 0.363 percent at 2:11 p.m. in New York trading and touched 0.3513 percent, the lowest ever. 'Strong Signal' An Oct. 1 speech by New York Fed President William Dudley's sent "a strong signal" that the FOMC will restart large-scale asset purchases at its next meeting on Nov. 2-3, Goldman Sachs Group Inc. economist Edward McKelvey said in a report this week. Dudley, the only regional Fed bank president with a permanent vote on the FOMC, said that the outlook for U.S. job growth and inflation is "unacceptable" and that "further action is likely to be warranted unless the economic outlook evolves in a way that makes me more confident." A newspaper report on the Bank of Japan's Oct. 5 decision to buy government bonds and other assets, such as real-estate investment funds, in anticipation of the Fed's own future asset purchases "raises the specter of competitive quantitative easing," or a "beggar-thy-neighbor phenomenon that always ends in tears," Fisher said. "It implies that central banks should carry the load for stymied fiscal authorities" and "infers that lurking out in the future is a slippery slope of quantitative easing reaching beyond just buying government bonds."