If they were so smart and powerful they would have acted to avoid the 2000 equity bubble.
If they were so powerful and smart they would have acted to avoid the immense wealth destruction caused by the implosion of the 2000 equity bubble.
If they were so smart and powerful they would have acted to avoid the housing bubble.
If they were so smart and powerful they would have acted to avoid the implosion and the immense wealth destruction caused by the housing bubble.
If they were so smart and powerful they would have acted and recognized the derivative bubble (caused by the touted financial engineering community) instead of saying that it was adding liquidity to the markets.
If they were so smart they would have recognized the seriousness of the current economic predicament and lower the fed funds rate as soon as the rate on 13-week Treasury bills started sinking.
If they could not prevent the immense loss of wealth of the past 10 years, if they could not stabilize the markets in times of unusual volatility (which they were probably the main reason), what are they doing besides making speeches on our problems and writing sophisticated research papers on the financial market?
The markets are too powerful and smart for the Fed to handle. Is it time to recognize the limits of this institution and re-define it?
More on https://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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