tag:blogger.com,1999:blog-1207581886255094115.post5953603958103018454..comments2024-02-26T05:51:17.859-05:00Comments on Economic Disconnect: Will Lower Long Term Rates do Anything for Anyone?EconomicDisconnecthttp://www.blogger.com/profile/02802078645713106743noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1207581886255094115.post-7364485245308792452010-08-10T19:40:46.425-04:002010-08-10T19:40:46.425-04:00scharfy,
interesting take.scharfy,<br />interesting take.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-1860366080311066502010-08-09T23:22:03.560-04:002010-08-09T23:22:03.560-04:00For all the cracking I do on the FED, they are not...<i>For all the cracking I do on the FED, they are not dumb people.</i><br /><br />This is very true. Its very easy for bloggers (Denninger, Mish come to mind) to reel off Bernanke is an idiot!! post 10,000 different ways.<br /><br />I assure you he is not, as you noted.<br /><br />You have just touched on the fact that there are political realities involved in policy making. Trying to actually assess what constraints our central bankers have, and actual vs stated policy goals, helps one understand the architecture and the engineering of the system we are trying to amend.<br /><br />So here's MY analogy. Policy makers are like Chess Players. When they take the seat at the game, the board is already locked up - and there really are only a couple viable moves for the player to make. Anything other than textbook moves aren't considered. <br /><br />He can't just yell "This game is fucked! - Surrender!" or sacrifice his Queen in the name of morality, and righting the wrongs of the previous players who screwed up the board. He's got to play out how the board is set. Occasionally a Grand Master can come along with a surprise gambit, when the timing is right, and shift the tone of the game.<br /><br />It would seem right now we are attempting to stall out the game and play for a draw. Its the only logical move really.<br /><br />That's my 6 cents...scharfyhttps://www.blogger.com/profile/18309882331114382248noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-83071521401715115932010-08-09T20:48:44.980-04:002010-08-09T20:48:44.980-04:00Ya,
like I said at your spot, why telegraph tomorr...Ya,<br />like I said at your spot, why telegraph tomorrow when a surprise later is worth so many S&P handles more! <br /><br />This is where we are, the FED trying to convince all is well with Apple worth more than Exxon-Mobil. <br /><br />No one has yet to explain the PragCap item that the bond market does not fund anything at all as yet. I am still puzzled by that one.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-56851874070121231332010-08-09T20:43:03.470-04:002010-08-09T20:43:03.470-04:00Get
HA!
That's funny. Couldn't agree mo...Get<br /><br />HA!<br /><br />That's funny. Couldn't agree more. <br /><br />Tomorrow should be interesting to say the least. <br /><br />I hope the bond market shoves it up their behind if they try and pull the QE lever tomorrow.<br /><br />I think you are right though. They will probably wait.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.com