Paul Volcker sees the bottom. Right in front of his nose. And let us tell you something: As head of the Economic Recovery Advisory Board and a fact finding body on the United States Tax Code, Das Volk knows wherefrom he speaks- when the man says “stop the presses,” he means “stop the bloody presses”
The Federal Reserve is going beyond the traditional role of central banks here or abroad,” Volcker said. “At some point it’s reasonable to ask should this particular institution, with its independence very well protected, be allocating so much of what is essentially government money.
This would seem to suggest that rumor to the effect that Volcker had been “mushroomed” are false (or that he escaped his minders and is presently on a dangerous public speaking rampage, just one step ahead of the law.
Volcker Says the U.S. Economy Is ‘Leveling Off’ [Bloomberg]
http://news.bbc.co.uk/2/hi/americas/8025931.stm
Level-5 alert. 1 step away from pandemic.
Heir Volker called it – he’s such a fucking genius.
Slowly back away from that pork sandwich.
Then why is it being taken so casually in the US. A flight crew refused to board a plane to Mexico in Europe.
@1 – I think you mean “Herr Volker?”
#3: They have some rights in Europe.
@4 yep.
Europeans are always refusing to do their job. What makes you think it has anything to do with a pandemic?
If he’s angling for a job at Goldman, he’s doing it all wrong.
So, is he right when he talks about the Fed’s independence and wrong when he says the “economy is leveling off(?)”
my vote goes to “or that he escaped his minders and is presently on a dangerous public speaking rampage”
The economy is leveling off only temporarily due to the massive injection of government debt. He failed to add that once the spigot runs dry and all the capital that could have gone to more productive places is spent, we are F’ed in the A.
Just give Barry two loaves of bread and 15 fish; problem solved.
I keep wondering who Paul is speaking for?
He is not the Fed Chairman.
He is not part of Tresury.
He is not part of WMO.
All Paul did was give us 20 percent interest rate and slammed the brakes in the early 80′s. Sunk Jimmy Carter’s reelection. Don’t see how he is considered some wise sage?
This is some Obama joke.