Bernanke: I unclog my nose at you!!

the Fed is up the proverbial shit creek without a paddle. at least they recognise that. The BoE and ECB are so far behind the curve that they are just a complete joke.

The FED has become Friedman's fool in the shower. They keep switching from hot to cold and just don't get it right.The BoE and ECB, to stay with this metaphor, are not just fools. They are just plain dumb. The don't even know how the freakin shower works.

QuoteOriginally posted by: Gmike2000The FED has become Friedman's fool in the shower. They keep switching from hot to cold and just don't get it right.The BoE and ECB, to stay with this metaphor, are not just fools. They are just plain dumb. The don't even know how the freakin shower works.That's funny, but I think the situation is worse than simple incompetence. They have overextended their reach - by supposing that it's their job to manage not only money supply but also manage where the S&P500 is trading, they have been stomping around, causing bubble after bubble. Housing, stock market, credit, mortgages, currency, whatever.I never really pictured the BoE and ECB as dumb - I figured they were playing chicken with the currency (pick up a few apartments in Manhattan on the cheap, you know?)I am sick of it. Get big brother out of the market manipulation business!! Let the damned market crash if it wants to. Now the US is starting to look as stupid as the BOJ's engineered economy !!!ARRRG

It's Uncle Sam jumping all over the place doing the Hokey Pokey, not the BoE & ECB. Like a ship bobbing as the waves go up and down. They are staying calm in the middle while the wild gyrations of the US Fed pogo around them. Ah, the folly of youth. They realise that to be honest and do nothing is better than to look like you're busy (or panic for want of a better word) .Stagflation, here we come ??

QuoteOriginally posted by: Gmike2000The FED has become Friedman's fool in the shower. They keep switching from hot to cold and just don't get it right.The BoE and ECB, to stay with this metaphor, are not just fools. They are just plain dumb. The don't even know how the freakin shower works.Don't blame "us" for the (subprime) mess you've created! It's your bed, now lay in it .

Mr PaperCut is spot on.The answer is obvious:abolish the Fed and a return to the gold standard

QuoteI never really pictured the BoE and ECB as dumb - I figured they were playing chicken with the currency (pick up a few apartments in Manhattan on the cheap, you know?)Inflation is the major concern of the ECB, it seems. Of course, the introduction of the Euro was the biggest boost anyone could ever give to inflation. In the past, product cost 4 guilders, now it costs 5 Euros. (1 Euro = 2.2 Guilders).

QuoteInflation is the major concern of the ECB, it seems. Of course, the introduction of the Euro was the biggest boost anyone could ever give to inflation. In the past, product cost 4 guilders, now it costs 5 Euros. (1 Euro = 2.2 Guilders)Dude, the euro came in a little while ago and agricultural commodities are through the roof

QuoteOriginally posted by: ppauperMrs PaperCut is spot on.The answer is obvious:abolish the Fed and a return to the gold standardQ: Would that have stopped the liar loans (aka subprime)?A: No.

QuoteOriginally posted by: TraderJoeQuoteOriginally posted by: ppauperMrs PaperCut is spot on.The answer is obvious:abolish the Fed and a return to the gold standardQ: Would that have stopped the liar loans (aka subprime)?A: No.Ah poor TJ, thought that was a real suggestion.GO RON PAUL!!!1111

QuoteOriginally posted by: daveangelQuoteInflation is the major concern of the ECB, it seems. Of course, the introduction of the Euro was the biggest boost anyone could ever give to inflation. In the past, product cost 4 guilders, now it costs 5 Euros. (1 Euro = 2.2 Guilders)Dude, the euro came in a little while ago and agricultural commodities are through the roofExactly, and prices doubled a while ago even before the boom and independently of it. Living in Euroland ones knows this fact.

Was there a particular agricultural commodity that is affecting your lfiestyle ? I am of course referring to the stuff one gets in certain cafes in Amsterdam ...

QuoteOriginally posted by: daveangelWas there a particular agricultural commodity that is affecting your lfiestyle ? I am of course referring to the stuff one gets in certain cafes in Amsterdam ...Very funny, or are you trying to avoid my original post? For the record, these cafes are for tourists, so Where do you live?

sorry I wasnt avoiding your point which is valid and I have heard from other people who live in Euroland.