We suggest that by attempting to counter various shocks that are predominantly the product of Fed's own policies, Bernanke's Fed has likely made things much worse as far as real economic fundamentals are concerned.
Sarbanes-Oxley, of course, was just a small step along the yellow brick road that will lead to total rule over private industry, especially in the
David Weild, former vice chairman and executive vice president of The NASDAQ Stoc
The old high (in terms of closing prices) in the XAU gold stock index was 168.62 during May of 2006
Alan Greenspan is in the news a lot currently because of the release of his new book. I haven’t read the book.
At least it will give us something to do until we figure out where next to hitch up the engine of inflation. At which point we can once again cast off the hair shirts, put on our gladrags, and throw another wild, exuberant, but ultimately destructive, orgy of high living and hot money — and devil take the hindmost!
Given the wide variety of assets it can accept (in particular, non-AAA MBS), the Fed also has the potential to get itself into plenty of trouble, the sort of trouble that might require it to seek an even larger expansion of its powers.
