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A sharp critic of the Federal Reserve and prominent authority on monetary policy on Tuesday slammed the U.S. central bank for risking inflation and warned that government action had "caused, prolonged and worsened" the country's financial crisis.
"My calculation implies that we may not have as much time before the Fed has to remove excess reserves and raise the rate," he said in remarks prepared for a financial markets conference hosted by the Federal Reserve Bank of Atlanta.
Wall Street's rally got a dose of reality Wednesday when retail sales numbers showed what many market watchers have been arguing: The economy is far from recovery.
The stock market's sharp move lower underscored the belief among some that until economic data actually turns positive—as opposed to better than dreary expectations—the gains in equities will be limited as well.
Let see what the damage team do to fix the problem or sugar coated.
Originally posted by Vitchilo
The only way the US could get back up from this whole mess would be to revolt, take control of the federal and most states government, make a purge of the scum, arrest the bankers, get back the money (about 14 trillions) let the big banks fail, take back control of the FED, end globalization treaties, close the border and bring back the troops from all around the world. IMO if this is done, MAYBE we can only have about 6 more months of a depression. MAYBE. But if this BS continues like it is, we face at the very least 7-10 years of depression. According to Bilderberg, they want DECADES of depression and since Obama is controlled, you'll see depression until a real candidate is elected.
[edit on 13-5-2009 by Vitchilo]
Credit Card Crackdown Update: Good News & Bad News,
The Senate has reached a compromise in advance of President Obama’s credit card town hall this Thursday to limit the deceptive practices of credit card issuers. Here are the key elements of the bill. Should it pass, the rules will go in effect nine months after it is signed as opposed to the original date of July 2010:
Originally posted by Hx3_1963
reply to post by GreenBicMan
I can't wait!!! Really!!!
Now...how will I get the Intel from behind my Gas-Mask out in the wilds of Michigan???
Pony Express??? I saw "The Postman" with Kevin Costner, sooo
S&P 500 -5.00 919.70 5/11 2:04am
Fair Value 926.66 5/8 8:58pm
NASDAQ -9.50 1380.00 5/11 0:41am
Fair Value 1392.81 5/8 8:58pm
Dow Jones -46.00 8470.00 5/11 0:46am
[edit on 5/11/2009 by Hx3_1963]