Re: karim on Fed statement with my comments

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Posted by Winslow R. (71.140.230.228) on 22:10:44 11/03/07

In Reply to: Re: karim on Fed statement with my comments posted by warren mosler

Bill Gross's opinion...

"Bernanke must do some heavy lifting as opposed to the light housework required of Alan Greenspan in 1998. An increasingly recessionary looking U.S. economy will likely require 1% real short rates and 3½% Fed Funds in order to stabilize a potential growth contraction in lending not witnessed since the early 1970s or, to be honest, Roosevelt s depressionary 1930s. We can only hope that Bernanke, Paulson, and their cohorts recognize the danger and that the music keeps playing with the lights still turned on."

http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2007/IO+November+2007.htm

: I remember Arthur Burns, and he's no Arthur Burns.
:
: I'd say Greenspan was the Arthur Burns.
:
:
: : Given the state of globalization, wealth consolidation, housing, wages, savings rates, a more appropriate Fed chairman would be Young/Meyer.
: :
: : http://en.wikipedia.org/wiki/Eugene_Meyer
: :
: : Modern day might be Burns.
: :
: : :
: : : If cpi continues to accelerate and core starts to move the
: : : chairmanship is at risk. This is what happened to Miller in 79 when
: : : replaced by Volcker.
: : :
: : : warren
: : :
: : :
: :
:

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Subject:	Re: karim on Fed statement with my comments
Comments:	: Bill Gross's opinion... : : "Bernanke must do some heavy lifting as opposed to the light housework required of Alan Greenspan in 1998. An increasingly recessionary looking U.S. economy will likely require 1% real short rates and 3½% Fed Funds in order to stabilize a potential growth contraction in lending not witnessed since the early 1970s or, to be honest, Roosevelt s depressionary 1930s. We can only hope that Bernanke, Paulson, and their cohorts recognize the danger and that the music keeps playing with the lights still turned on." : : http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2007/IO+November+2007.htm : : : : I remember Arthur Burns, and he's no Arthur Burns. : : : : I'd say Greenspan was the Arthur Burns. : : : : : : : Given the state of globalization, wealth consolidation, housing, wages, savings rates, a more appropriate Fed chairman would be Young/Meyer. : : : : : : http://en.wikipedia.org/wiki/Eugene_Meyer : : : : : : Modern day might be Burns. : : : : : : : : : : : If cpi continues to accelerate and core starts to move the : : : : chairmanship is at risk. This is what happened to Miller in 79 when : : : : replaced by Volcker. : : : : : : : : warren : : : : : : : : : : : : : :
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