Uncle Ben has a second term.

limitup · #1 (**permalink**) 01-29-2010, 12:23 AM

Senate backs Bernanke for second term at Fed: Thomson Reuters Business News - MSN Money

Yes or No

alan · #2 (**permalink**) 01-29-2010, 02:18 AM

No! A big NO!

And while we're at it...bitchslap Alan Greenspan for fueling the credit boom and as a coup de grâce, abolish the Fed.

And after that we shall all live happily ever after..

limitup · #3 (**permalink**) 01-31-2010, 12:49 PM

Quote:

Originally Posted by alan

No! A big NO!

And while we're at it...bitchslap Alan Greenspan for fueling the credit boom and as a coup de grâce, abolish the Fed.

And after that we shall all live happily ever after..

Well, if the Fed is abolished, then we can forget about forex trading.

alan · #4 (**permalink**) 01-31-2010, 06:16 PM

I disagree. As long as we have free floating fiat currencies there will always be a foreign exchange market.

What would truly kill the forex market would be the establishment of a international gold or silver monetary standard.

Although that may be bad for us as forex traders it would actually be a blessing for us as consumers and savers. Stable money is always a good thing...unless your job is to exploit the gaps and instabilities in the monetary system.

limitup · #5 (**permalink**) 02-02-2010, 12:50 PM

Quote:

Originally Posted by alan

I disagree. As long as we have free floating fiat currencies there will always be a foreign exchange market.

What would truly kill the forex market would be the establishment of a international gold or silver monetary standard.

Although that may be bad for us as forex traders it would actually be a blessing for us as consumers and savers. Stable money is always a good thing...unless your job is to exploit the gaps and instabilities in the monetary system.

...but the $ is the benchmark currency. I suppose fiat money would still keep it afloat.

Ben will still keep on track with low interest rates well into 2011. Owning a home is no longer a good investment.

alan · #6 (**permalink**) 02-02-2010, 11:50 PM

Quote:

Originally Posted by limitup

...but the $ is the benchmark currency. I suppose fiat money would still keep it afloat.

Ben will still keep on track with low interest rates well into 2011. Owning a home is no longer a good investment.

Yep, I agree. I'd say now is a good time to find a good bargain home to LIVE in - not as a short term speculation - while there are still desperate sellers out there.

Quote:

After some heated back-and-forth and an eventual vote of 70-30, the Senate confirmed Ben Bernanke’s second term Chairman of the Fed yesterday. The New York Times notes that the vote “was the weakest endorsement ever extended to a chairman in the Fed’s 96-year history.” The Washington Post says:

That congressional anger at the Fed -- and at Bernanke himself -- will color Bernanke's second term. The Fed is designed to be insulated from politics so that its leaders can take a long-term view, especially in setting interest rates. But the Fed is now under greater pressure than at any time in recent history. And after his relatively close call on confirmation, Bernanke may not have the political clout to fend off attacks on the central bank, said people who study the Fed.

My opinion is that they should give up making monetary policy based on forcing upon the dollar a certain interest rate target and instead focus on ensuring the dollar is a STABLE currency.

The sole job of the Fed should be to match supply with demand. In other words it should act as a currency board.

Or better yet get us back on a gold standard..lol..but I know no such thing will happen any time soon.

limitup · #7 (**permalink**) 02-11-2010, 01:45 PM

Quote:

Originally Posted by alan

Yep, I agree. I'd say now is a good time to find a good bargain home to LIVE in - not as a short term speculation - while there are still desperate sellers out there.

Or better yet get us back on a gold standard..lol..but I know no such thing will happen any time soon.

Owning a home will never be as advantages as it used to be. The big bubble has burst. The days of charging 3k a month to rent 6 pieces of drywall in Chicago are over. Realtors got greedy and killed their own market. The housing market will continue to ail for decades to come. Raising interest rates will only hurt the economy. If you buy a home now...you better make sure it is your "home"...because, you won't be able to dump it for a long time to come.