RSS Feed
Twitter
Facebook
Email
HomeSedating the Quantitative Easing Monster
Posted by Larry Doyle on September 19th, 2013 9:04 AM |
At what point does a patient become addicted to medication so that a subsequent malady is potentially as bad if not worse than the original condition the prescribing doctor was trying to treat?
How disturbing is it to learn of individuals strung out on pain medication or more specifically methadone to treat a debilitating condition or drug habit?
Very disturbing.
In a very similar fashion, our resident medic, that being Fed chair Ben Bernanke, found himself boxed in by our patient, supposedly our economy but really our markets, that had begun to convulse and palpitate when word that its QE medication was going to be lessened. (more…)
Bernanke Walks It Back
Posted by Larry Doyle on July 18th, 2013 8:53 AM |
It took a few weeks, but the relatively recent smokescreen of a strengthening economy put forth by Ben Bernanke began to lift yesterday.
I find it especially interesting that it was not some new string of weak economic data that prompted the Fed chair to express increased caution about what is truly going on in the real world economy.
In fact, for what I believe might be the first time, Bernanke cautiously addressed the fact that the structural changes in our economy reflected in a significant decline in the labor force participation rate might be more indicative of our economic health than the actual unemployment rate.
A whiff of the truth amidst the daily diet of verbal diarrhea emanating from D.C? What a novel concept. (more…)
What Did Bernanke Really Accomplish?
Posted by Larry Doyle on June 21st, 2013 8:23 AM |
How will the history books treat Ben Bernanke? Well, only time will tell.
Supporters will tout his integral role in saving the system.
Those who look less kindly on the Fed chair will denigrate him for: 1) his participatory role in allowing Wall Street to bring our economy to its knees, and 2) providing excess liquidity for the well positioned to take advantage of a newly defined rent-seeking economy while the rank and file American public struggle to keep their head above water.
Perhaps he is deserving of both a measure of praise and derision, but let’s take a harder look at what he really accomplished — or not — depending on how you might view things. (more…)
Fed-speak: Ease Air Out of Bonds – Support Equities
Posted by Larry Doyle on May 20th, 2013 9:38 AM |
“Don’t fight the Fed.”
While the fundamentals of our underlying economy bump along with continued structural headwinds and fiscal support from Uncle Sam remaining anemic, the Federal Reserve’s QE-infinity remains the underlying cornerstone supporting our markets.
With equities making new highs and high yield bonds trading at stratospheric levels, recent pronouncements from Fed officials strike me as looking to accomplish two goals: (more…)
R. Wenzel: Federal Reserve An Unmitigated FAILURE
Posted by Larry Doyle on April 28th, 2012 9:17 AM |
This commentary is a little lengthy but a great and absolute MUST READ!! LD
Who really runs America?
The media may actively and aggressively debate the pandering provided by those on both ends of the political spectrum. But to whom do these pols really answer? The American public? I do not think so.
The Washington establishment strikes me as little more than puppets played by the one controlling the money. Who might that be? The all powerful and, all assertions to the contrary, perpetually opaque Federal Reserve.
Let’s navigate deep into the chambers of the New York Federal Reserve. (more…)
Those Uncle Sam Failed, Violated, and Left Behind
Posted by Larry Doyle on April 3rd, 2012 8:31 AM |
They are going to forget about me.
I have heard that line and iterations thereof from too many of our fellow citizens. Uncle Sam in the personage of Ben Bernanke, Tim Geithner, Henry Paulson, Mary Schapiro, John Boehner, Nancy Pelosi, Barack Obama and many others can talk about the actions they have taken and will take to save our economy and our nation; however, in the midst of their supposed efforts they have failed, violated, and left behind tens of thousands of our fellow citizens in their wake.
Of whom and to what do I refer? (more…)
The Integrity of the Game
Posted by Larry Doyle on March 22nd, 2012 5:31 AM |
The penalties handed out by NFL Commissioner Roger Goodell to the coaches and executives of the New Orleans Saints organization for the bounty program practiced down on the bayou were perhaps the stiffest in the history of the game.
Goodell has shown himself to be a no-nonsense individual cut from the mold of Kenesaw Mountain Landis. Goodell is clearly focused on protecting the sport, and knows that any program which promotes an intent to injure renders modern day football to little more than barbarism. (more…)
Quantitative Easing: To Infinity and Beyond?
Posted by Larry Doyle on January 29th, 2012 12:02 PM |
What does the Federal Reserve know that we don’t?
I mean, why would the Federal Reserve commit to keeping prevailing interest rates at next to zero through the end of 2014 if they were not aware of just how weak our underlying economy truly is?
Bernanke and team know our domestic economy and the global economy at large remain in need of significant and steady oxygen support. (more…)
Fed’s White Paper on Housing: Uncle Sam a Landlord? Obama’s Plans for Re-Election?
Posted by Larry Doyle on January 5th, 2012 9:58 PM |
Housing and labor remain the cornerstones of our economy. In fact, the health of our labor market follows that of housing just like night follows day.
The near term prospects for both housing and labor remain decidedly challenging. The success of assorted federal programs to support housing so far have obviously been underwhelming.
That said, there are rumblings emanating from Washington that the Obama administration may end run Congress while unilaterally launching a massive program to support housing via Freddie/Fannie orchestrated refinancings.
Will this program be the ‘rabbit’ which Obama and team pull to prop the economy and their re-election chances in 2012? (more…)
Traveling Into Uncharted Waters Looking for Ben
Posted by Larry Doyle on November 29th, 2011 6:51 PM |
What lies ahead on our global economic landscape?
While market analysts and economists are paid to provide opinions, you know what they say about opinions.
Our global economy and markets have been supported by such unprecedented levels of government intervention with accompanying massive unintended consequences that trying to navigate our economic landscape can only be equated to “traveling in uncharted waters.” (more…)
