Evidence Obama is no thinker---yellen for FED

Discussion in 'Too Hot for Swamp Gas' started by mastoidbone, Sep 16, 2013.

  1. mastoidbone
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    mastoidbone VIP Member

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    She is now the likely choice of Dems and Obama will pick her.
    Please read her speech given in 2005 at the HEIGHT of the bubble proposing that monetary policy could mitigate any negative economic consequences of a housing collapse, and arguing that the Fed had no role in preventing further housing distortions:

    “First, if the bubble were to deflate on its own, would the effect on the economy be exceedingly large? Second, is it unlikely that the Fed could mitigate the consequences? Third, is monetary policy the best tool to use to deflate a house-price bubble? My answers to these questions in the shortest possible form are, ‘no,’ ‘no,’ and ‘no.’”

    http://www.frbsf.org/our-district/press/presidents-speeches/yellen-speeches/2005/october/housing-bubbles-and-monetary-policy/


    Your president.
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  2. Minister_of_Information
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    Minister_of_Information I'm your huckleberry Premium Member

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    Hadn't you heard? Obama is one of the 5 best Presidents evar...
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  3. mastoidbone
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    mastoidbone VIP Member

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  4. Row6
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  5. g8trjax
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    g8trjax Well-Known Member

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  6. gregthegator
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    gregthegator Well-Known Member

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    the NO THINKER's are the ones EVEN discussing THE appointment...

    In reality there should be NO Fed...as it's DESTROYING us all..

    and if you don't know why....study Thomas Jefferson, Henry Ford, ect...

    Should be debating how TO...$%#@^& the Fed.
  7. Gatorstooth
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    Gatorstooth New Member

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    So the sky is falling? I'm not sure how to handle this, should I panic or what?
  8. rivergator
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    rivergator Well-Known Member

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    link
  9. wgbgator
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    wgbgator Sub-optimal Poster Premium Member

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    She's Ok with the Fed's QE monetary stimulus, so of course monetary policy cranks don't like her.
  10. mastoidbone
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    mastoidbone VIP Member

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    read my link---it is HER speech in her OWN words----it is terrifying.....she is a disaster wrapped in a economic crash.

    She got the biggest calls WRONG, just like the others---when many warned about housing bubble---she said dont worry......and we are still paying the price......just a horrible choice.
  11. GatorFanCF
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    GatorFanCF Premium Member

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    THIS is the key "She got the biggest calls WRONG, just like the others..."

    Read more: http://www.gatorcountry.com/swampgas/showthread.php?t=271502#ixzz2fHa6UPrx

    Meet the new boss, same as the old boss. Same old stuff; but, they all agree and there's wonderful collaboration and they're getting things done. It's okay that the train is headed to the cliff with no bridge as the IMPORTANT thing is that they agree and get along.
  12. Row6
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    Row6 New Member

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    That Yellen recognized the bubble was an achievement missed by many in 2005. That she didn't discuss the real reason why the economy crashed - the bundling of subprimes - is not surprising. Who the f..k knew that then? The crash wasn't caused by a "bubble", but that rather unique reason. This thread shows the OP isn't a "thinker".
  13. Minister_of_Information
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    Minister_of_Information I'm your huckleberry Premium Member

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    This is known as a distinction without a difference.
  14. tommike
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    tommike New Member

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    Now I recall when Dean Baker point out to Greenspan there was housing bubble in 2002 Greenspan acted like Baker was a kook. So we might say she wasn't by herself but we live and learn. You want Summers and that Wall Street crowd?
  15. MichiGator2002
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    MichiGator2002 VIP Member

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    Dolts like this would probably put a negative interest rate in place if they thought they could get away with it -- banks paying each other to borrow money from them. Stimulutes borrowing! Not so much lending, but details man.
  16. mastoidbone
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    mastoidbone VIP Member

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    She was not the only idiot---but to think that a housing bubble in her words" it could be large enough to feel like a good-sized bump in the road, but the economy would likely to be able to absorb the shock. For example, a reversion to the long-run price-rent ratio would appear to represent a shock that is only about half the size of the U.S. stock market collapse in 2000 and 2001" shows you the idiot she was and is.

    MANY MANY people predicted this----that she---with all her data TOTALLY missed it is a NIGHTMARE for the next fed chief---and shows you the DEM party has drifted FAR FAR left of clinton----so much so---he would be a PUB in states like NY, NH, etc....in these times.

    If Obama goes with her....watch out and hold TIGHT to your assets.
  17. reformedgator
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    reformedgator Premium Member

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    You forgot to add the f..k. You know, just for emphasis.
  18. Minister_of_Information
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    Minister_of_Information I'm your huckleberry Premium Member

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    Decorum prevented me.
  19. gatordowneast
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    Same sorority as Kagan and Sotomaier. That is all I will say.
  20. oragator1
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    oragator1 Premium Member

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    Yellen has been the closest to Bernanke over the past few years, the most likely to continue his polices, understands the approach etc.

    But the real issue is that Obama is getting a TON of pressure from around the country to nominate her. Women's groups, the base, Fed watchers who want stability among others. And politically he can't have a real fight right now for a variety of reasons (his weakened position over Syria, the upcoming budget battles, wanting to shore up his base who wants her badly etc). She will get nominated and will sail through confirmation.
    Obama actually wanted Summers by all accounts, but that was going to be a bruising fight. Summers withdrew, but no one is sure as to whether it was of his own volition or not. Might have just been Obama saying he wasn't worth the political capital it would take to get him through.

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