Bernanke: Asleep at the Wheel - Mercedes-Benz Forum

 
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post #1 of 10 (permalink) Old 02-27-2008, 09:29 PM Thread Starter
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Bernanke: Asleep at the Wheel

“The economic situation has become distinctly less favorable” since last summer, he told the House Financial Services Committee. In words that investors immediately recognized as a hint of lower rates, he vowed to “act in a timely manner” and “provide adequate insurance against downside risks.”

The hope is that lower interest rates will encourage consumers and businesses to spend more, while the risk is that the spending will aggravate inflation.

Mr. Bernanke did not mention the dollar’s falling value on Wednesday, but he has said on previous occasions that he saw no sign that the dollar was in danger of losing its status as the world’s leading reserve currency.

http://www.nytimes.com/2008/02/28/business/28fed.html
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post #2 of 10 (permalink) Old 02-27-2008, 09:32 PM Thread Starter
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All of this on a day when the nation's financial news included these facts:

1. Inflation over the past year doubled to 7.4%.

2. Inflation for January 2008 increased to an annual rate of 12%.

3. Price of oil hit a new record: $102 a barrel.

4. Gold spiked to a new high, over $960 per ounce.

5. The slide in housing prices was discovered to be accelerating.

Have fun everyone
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post #3 of 10 (permalink) Old 02-27-2008, 09:50 PM
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maybe a chance to evaluate new opportunities
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post #4 of 10 (permalink) Old 02-27-2008, 09:52 PM Thread Starter
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Too late, if your assets are dollar-denominated. Oh did I forget to mention? $1.50 per Euro today as well
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post #5 of 10 (permalink) Old 02-27-2008, 10:27 PM
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YOu fear monger, Jay the wide one has already said that the economy is in good shape, if it was not then why did the market go up 415 pts the last 4 days..........shame on you Marsden for being so unpatriotic and telling the truth via the facts above..........

Last edited by Jakarta Expat; 02-27-2008 at 10:30 PM.
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post #6 of 10 (permalink) Old 02-27-2008, 11:35 PM
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Well, Greenspan was in Saudi Arabia advising th Gulf States to get out of the US dollar.
The next day they did exactly that.
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post #7 of 10 (permalink) Old 02-28-2008, 02:20 AM
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^^^^Maybe Greenspan has clear lens in his frames rather than the rose colored and can see things in a different light............
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post #8 of 10 (permalink) Old 02-28-2008, 03:27 AM
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Hey
I wouldna mind but you seem to have pulled the pound down with the dollar
Euro 1.32... to 1 stirling
I will never be able to buy a cheap Unimog
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post #9 of 10 (permalink) Old 02-28-2008, 05:32 AM
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Quote:
Originally Posted by Difflock View Post
Hey
I wouldna mind but you seem to have pulled the pound down with the dollar
Euro 1.32... to 1 stirling
I will never be able to buy a cheap Unimog

Well you got to take the good with the bad, if not for the States the UK would be speaking German...............
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post #10 of 10 (permalink) Old 02-28-2008, 05:41 AM
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Ah ya das ist goot, ya
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