Bulls, Bears & Bucks #67 : Met speculerende handelaren

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Central bankers are planning to eventually remove $1.43 trillion of housing debt from the balance sheet after critics such as Stanford University economist John Taylor accused them of straying beyond monetary policy. Philadelphia Fed President Charles Plosser said yesterday that the Fed’s purchases of housing debt expose it to demands from politicians to support other industries.

Some of the Fed’s emergency actions “blurred the line between monetary policy and fiscal policy, thereby increasing the risk to the Fed’s independence,” Plosser said in a speech. “These policies have veered toward deciding how public money should be allocated across firms and sectors of the economy.”

Policy makers agreed that it “will eventually be appropriate” to “return to holding only securities issued by the U.S. Treasury,” according to minutes of their January 26-27 meeting released yesterday.

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Op vrijdag 19 februari 2010 16:36 schreef capricia het volgende:
Wat is het verschil tussen kerninflatie en 'gewone' inflatie

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Op vrijdag 19 februari 2010 16:37 schreef SeLang het volgende:

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Kerninflatie is exclusief de dingen die je echt nodig hebt zoals eten en brandstof

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Op vrijdag 19 februari 2010 16:37 schreef SeLang het volgende:

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Kerninflatie is exclusief de dingen die je echt nodig hebt zoals eten en brandstof

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Op vrijdag 19 februari 2010 15:55 schreef pberends het volgende:
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Voor het eerst sinds 1982 daalt de kerninflatie in Bernanke-land.

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Op dinsdag 23 februari 2010 18:28 schreef pberends het volgende:
Even gezamenlijk UK uitlachen:

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Wat een derde wereld-land!

Ondanks dat ze de geldpers hebben aangezet voor 300 miljard pond !

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Op dinsdag 23 februari 2010 18:37 schreef Q. het volgende:

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En dan zeggen dat de Euro in de problemen zit en het Pond en de Dollar veilige havens zijn. !

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Op woensdag 24 februari 2010 17:51 schreef Q. het volgende:
Australië ook zo'n groot tekort? Had altijd het idee dat het daar wel aardig goed ging.

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Geithner: Spending and fiscal austerity goals are not in conflict
Assessing a tough governmental juggling act, Treasury Secretary Timothy Geithner assured lawmakers Wednesday that stimulus spending to spur the economy now isn't in conflict with a need for longer-term austerity. Geithner told the House Budget Committee that before the federal government can begin attacking soaring deficits and a massive national debt, it needs to increase jobs and ensure economic growth.

"Without growth, we cannot begin the process of restoring fiscal responsibility," the secretary said in prepared remarks.

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Greenspan Says Crisis ‘By Far’ Worst, Recovery Uneven
Former Federal Reserve Chairman Alan Greenspan said the financial crisis was "by far" the worst in history and called the recovery from the global recession "extremely unbalanced." The world economy has undergone "by far the greatest financial crisis globally ever," Greenspan said today in a speech to the Credit Union National Association’s Governmental Affairs Conference in Washington. Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because "never had short-term credit literally withdrawn."

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US Lending Falls at Epic Pace
U.S. banks posted last year their sharpest decline in lending since 1942, suggesting that the industry's continued slide is making it harder for the economy to recover. While top-tier banks are recovering at a faster clip, the rest of the industry is still suffering, according to a quarterly report from the Federal Deposit Insurance Corp. Banks fighting for survival, especially those plagued by losses on commercial real estate, are less willing to extend loans, siphoning credit from businesses and consumers.

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Nearly 20% of U.S. workers underemployed
Nearly 20 percent of the U.S. workforce lacked adequate employment in January and struggled to make ends meet with reduced resources and bleak job prospects, according to a Gallup poll released on Tuesday. In findings that appear to paint a darker employment picture than official U.S. data, Gallup estimated that about 30 million Americans are underemployed, meaning either jobless or able to find only part-time work.

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Republicans push Obama to put Fannie, Freddie on budget
A pair of key Republicans on the House Financial Services Committee is pushing the White House to end the long-standing practice of excluding mortgage finance companies Fannie Mae and Freddie Mac from the federal budget. "It is the same sort of financial shell game that has brought governments like Greece to a crisis point. Hiding your debts just leads to a bigger day of financial reckoning down the road," said Representative Spencer Bachus, the top Republican on the panel.

Bachus said he was backing legislation from Representative Scott Garrett, the top Republican on the House Financial Services Subcommittee on Capital Markets, to put the two enterprises on the federal budget. Fannie Mae and Freddie Mac, which play a role in funding three-quarters of all U.S. residential mortgages, came under government control in September 2008 when they received a massive bailout that gave the government a 79.9 percent stake.

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The deathbed of Keynesian economics
The UK has produced notable economists over the years, but John Maynard Keynes, the guru of government intervention, was one of truly global significance. So it may be fitting that the UK will also become the deathbed of Keynesian economics. Britain has been following the mainstream prescriptions of his followers more than any developed nation. It has cut interest rates, pumped up government spending, printed money like crazy, and nationalised almost half the banking industry.

Short of digging Karl Marx out of his London grave, and putting him in charge, it is hard to see how the state could get more involved in the economy. The results will be dire. The economy is flat on its back, unemployment is rising, the pound is sinking, and the bond markets are bracketing the country with Greece and Portugal in the category marked "bankruptcy imminent." At some point soon, even the most loyal disciples of Keynes will have to admit defeat, and accept that a radical change of direction is needed.

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Op woensdag 24 februari 2010 21:43 schreef Perrin het volgende:
Schiet allemaal nog niet zo op, die recovery.

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Op woensdag 24 februari 2010 21:46 schreef capricia het volgende:

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Idd. Ik denk nog wel eens aan het W-scenario. De kou is nog niet uit de lucht. Zeker in Europa niet.