I UNDERSTAND THE MOTIVATION OF THE FED TO BE "BRIEF" IN YESTERDAY'S STATEMENT...
PERHAPS THEY WANTED TO CUT DOWN ON THE NUMBER OF "WORDS" SUBJECT TO "INTERPRETATION" BY THE STREETS SPIN MASTERS...
ALAS, IT DIDN'T WORK!
EVERYTHING THAT WAS LEFT OUT OR CHANGED SLIGHTLY FOR BREVITY WAS "INTERPRETED" IN FAVOR A THE TOUTS...AND A WILD RALLY ENSUED...
I SUPPOSE THERE IS A LESSON THERE SOMEWHERE...? PERHAPS IT'S IF YOU SAY WHAT YOU MEAN AND MEAN WHAT YOU SAY...THERE IS NO NEED TO PLAY THE WORD GAME...
MY SUGGESTION TO THE FED AND BERNANKE IN PARTICULAR IS...START EXPLAINING THINGS FROM THE POINT OF VIEW OF MACRO ECONOMICS...AND FORGET THE MARKET SPEAK... THE FED DOES NOT OWN THE MARKETS ANYTHING... THE FED IS SUPPOSED TO MAKE MONETARY POLICY IN A MANNER THAT PRODUCES A STABLE AND GROWING ECONOMY FOR EVERYONE... NOT JUST THE MARKET TOUTS...
AND THAT'S REALLY THE PROBLEM ALL ALONG ISN'T IT...
THE FED HAS BEEN KOW-TOWING TO THE MARKETS...
AND THEY HAVE IGNORED THE UNSUSTAINABLE ASPECTS OF THE US ECONOMY, FOR EXAMPLE THE DEFICITS AND THE GENERAL STRUCTURAL DE-INDUSTRIALIZATION;
AND NOW IT MAY BE TOO LATE TO DO ANYTHING ABOUT...WHAT COMES NEXT...!
NO WONDER THE FED LIKES TO TALK IN CIRCLES...
