That’s really it. Bernankes and the Federal Reserve want to say no to an interest-rate cut this week but are apparently too scared of what a bunch of (what sound like really intimidating) traders (if you’re a puss) will do if they don’t. But they’ve got a plan! In order to make it look like the Fed’s in control, Ben will, yes, give in to a cut, but will, in addition, not promise any future ones. It’s almost as though those guys wrote the book on how not to be made someone else’s bitch, isn’t it? Also, even though no one was asking for the overshare, Bernanke went there twice in the last week, noting how “challenging” it is to make policy, and saying that he’s “doing the best [he] can*.” Not as good a job as Greenspan would do, according to Greenspan, but definitely his personal best.
Bernanke, `Reluctant' to Cut Rates, May End Up Doing So Anyway [Bloomberg]
*moment of truth: I made that last one up, but 10-1 he was thinking it.
Posted by Poseidon, Oct 29, 2007 2:43PM
Damn it. Damn it. Damn it. Ben- what the F@#K are you doing? This is going to be a world class f-ing tailspin.
Short: Ben Bernanke, Alan Greenspan, The Fed in general, politicians, U.S. Dollar, anything tied to the U.S. Dollar, China the day after Closing Ceremonies
Long: Puts on the U.S. Dollar, Gold, Oil, farmers, South Park, bicycles, and beer
Recent trip to grocery store:
Avocado: $3.00
5 gallon bucket $8.99
1 gallon milk $2.99
1 pound coffee $12.99
Gas station: $2.99/gal
Sure, CPI is Damn it. Damn it. Damn it. Ben- what the F@#K are you doing? This is going to be a world class f-ing tailspin.
Short: Ben Bernanke, Alan Greenspan, The Fed in general, politicians, U.S. Dollar, anything tied to the U.S. Dollar, China the day after Closing Ceremonies
Long: Puts on the U.S. Dollar, Gold, Oil, farmers, South Park, bicycles, and beer
Recent trip to grocery store:
Avocado: $3.00
5 gallon bucket $8.99
1 gallon milk $2.99
1 pound coffee $12.99
Gas station: $2.99/gal
Sure, CPI is <3%.......
Juggles- Help me out......