quote:

Originally posted by Max Thomson he's about as cool as a guy that sticks a 12 inch rubber dildo up your ass, then asks you to pay for the favor.

he saved your economy you ignorant little shit.

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quote:

Originally posted by Max Thomson he's about as cool as a guy that sticks a 12 inch rubber dildo up your ass, then asks you to pay for the favor.

If you only knew...

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He came across pretty good even if he didn't answer my question.

He did mention that the current expectation was that inflation wouldn't be a problem for the next couple of years, which is at least on the right line of thinking.

Usually walking in like he owns the place. Rather the fed shifted under the treasury.

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The Democratic Party

quote:

Originally posted by thedoggyworld Usually walking in like he owns the place. Rather the fed shifted under the treasury.

jesus christ. you people really don't understand anything do you? yeah, let's have the president set interest rates!!

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I finished the paper I wrote summarizing the PBS show. Here's the summary of the summary. Anyone who wants the full thing can let me know and I'll e-mail it.

quote:

On July 26th, 2009 Federal Reserve Governor Ben Bernanke held an open forum to address public questions about the Federal Reserve, its operations, and the part it played over the course of the financial crisis. This paper is a summary of that forum and observations of the author. As with many such papers the goal of the work is to distil the initial release, in this case a 45 minute discussion between Mr. Bernanke and the PBS studio audience, while organizing the material into major topic subdivisions. 5 topics were identified, Regulation, Politics, Inflation, Crisis Response, and Comparative Case Studies. Each of these broad topics is discussed in their own sub-section where the merits and flaws of Mr. Bernanke’s responses are scrutinized. For the most part summaries of this type are repetitive for those who follow macroeconomics with any degree of regularity. With this in mind the paper has attempted to identify some of the hidden points that are discussed less often yet might be valuable to decision makers in the future. Holistic economic evaluation was one such point that Mr. Bernanke suggested. This approach might help mitigate future financial problems by evaluating the economy from a holistic perspective in addition to individual companies. This would allow regulators and decision makers to be able to spot cross company trends earlier. Another point of note from the forum was the ascertation that the Federal Debt and the Federal Reserve are theoretically unrelated. This fact means that in theory the choice to default on debt is a political decision whereas the choice to print money is apolitical. This is important to understand because when considering the risk of debt default in the US the alternative is inflation through increased money supply. Since Federal Reserve actions generally lag policy the decision to default will be made first and then the Fed will respond as required. One interesting program that was brought up was the Fed financing the purchase of debt from banks. This sponsorship of what is essentially citizen banking could be quite positive. It allows holders of capital to finance debtors who they know are credit worthy at a reduced cost. Finally there is one issue that seems significantly absent, that of international comparative evaluation. As much as the Federal Reserve, and the broader financial media, have scrutinized the economic collapse from a temporally comparative point of view there has been a consistent absence of international inter-temporal comparison. A number of case studies spring to mind including the debt crises in Latin America, the Asian Financial crisis, and the Russian crisis. An increase in the cases used for comparative analysis would likely be quite revealing.

quote:

Originally posted by pkcRAISTLIN he saved your economy you ignorant little shit.

I don't need saving, maybe you do?

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quote:

Originally posted by Max Thomson I don't need saving, maybe you do?

He said "economy", not you.

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