No News Is Good News From the FOMC - Up and Down Wall Street Daily - R. Forsyth - Barrons.com
Jason are you watching the forests or the drought that has affected everything else? In other words, with the fiscal policies totally opposed to growth and employment and the Fed trying its best to overcome such fiscal policy ineptitude, we have two strong forces that lead to misinterpretation.
The question is what is more important - the Fed or the fiscal policies?
As with Hitler and the Munich accords, I'm inclined to believe the Chamberlain character (Bernanke) is going to be overwhelmed.
What's nice about Randy is he tries to articulate some questions.
There are lots of red herrings out there - but, we have some stridently obvious examples standing in front of us - i.e. California, Michigan and GM. Each of them represent the core of Democratic policies and none of them are good economic harbingers.
We have Greece talking about a balanced budget with no attempt to rein in outlandish public employees.
There is such a different apparent world in the East, where social distribution appears to be slim and incentives to capital and investors appears to be high.
Take your choice. I think you may be missing the factors affecting the forest.
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