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^ Top   #1   11.15.2009

Baack Trucker Forum STAFF   Last Seen: 1 Hour Ago 10.11 PM Member Since: May 2007 Location: Wisconsin Trucker? Trucking Industry Posts: 15,867 My Trucking Photos: 0 Thanks: 9,753 Thanked: 7,167 Times

Arrogant Fed hasn't learned a thing Quote: bubbles, toils and troubles that nearly wrecked the financial system should've been obvious to the policymaking numbskulls whose monetary tricks made matters worse. [Related content: Federal Reserve, recession, politics, financial crisis, Bill Fleckenstein] By Bill Fleckenstein MSN Money "Arrogant and incapable of learning." When a teacher uses those words to describe a student, it's an isolated (if regrettable) situation. But the repercussions are widespread when "arrogant and incapable of learning" fits the Federal Reserve like a glove. Still clueless after all these bubbles Frederic Mishkin, a former member of the Fed's board of governors, wrote an article in last Tuesday's Financial Times that displayed that he, and presumably other Fed heads, have learned exactly nothing from the disastrous consequences of their activities in printing money over the past couple of decades. The headline sort of says it all: "Not all bubbles present a risk to the economy." That is completely false. Any genuine bubble poses great risk, which is why they should be avoided, as I have warned repeatedly since at least 1997. http://articles.moneycentral.msn.com...d-a-thing.aspx

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^ Top   #2   11.15.2009

Mooney Road Train Member   Member Since: Oct 2008 Location: Rapid City, South Dakota Trucker? No Posts: 10,359 My Trucking Photos: 0 Thanks: 59 Thanked: 4,631 Times

Quote: Originally Posted by Baack [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. Bubbles are naturally occurring events in free markets. Like forest fires, they serve a purpose.Just like when man fights fires he most of the time makes things worse, so do regulators in markets. Two things happen when you let bubbles burst without any assistance, first, price equilibrium, because no artificial demand is created. Secondly, when there is little to no intervention by government, there is less uncertainty about future prices, which brings buyers and sellers back into the market sooner. "Wait and see" is not a good way to move forward for buyers, and "sell at any cost" is a bad model for sellers. Market forces can solve these problems quicker and more efficiently than the intervention of Government. __________________ Intellectuals solve problems; geniuses prevent them.-Albert Einstein When the tick gets bigger than the dog it’s suckin’ on, either that dog has to kill that tick or that dog is gonna die.

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