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Challenges for Monetary Policy Part 8 of 14 |
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Last Updated ( Thursday, 18 December 2008 )
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| on December 18, 2008 08:07 AM |
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Writing in last Sundays New York Times, Ben Stein Simple Currency Forex Trading noted this and that the Fed does not have much power to influence the price of oil. He is right. And for that matter, we cant do much about the external demand impacting the price of foodwhich, by the way, carries twice the weight of energy in the consumer basket of personal consumption expenditures. But the dynamics of production and demand among the new participants in the global economy nonetheless impact us in different ways at different times. As these new participants joined the global economy, they provided significant tailwinds, helping us grow by providing cost savings, new sources of productivity enhancement and new sources of demand, helping fatten both the top line and bottom line of our businesses while also holding down inflation. Under such conditions, the Fed could operate with a more accommodative monetary policy than what might have been appropriate in a closed economy, without putting upward pressure on inflation. And that is what the Fed did, although some arguewith the benefit of hindsightit did so for too long.
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Fisher Storms on the Horizon Part 18 of 18 |
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Last Updated ( Wednesday, 17 December 2008 )
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| on December 17, 2008 12:35 PM |
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Is there any difference between Republicans and Democrats when it comes to spending money? Cohen looked at him, furrowed his brow and, after thinking about it, replied, Mr. Shultz, there is only one difference: Democrats The MasterTrader E Book enjoy it more.
Yet no one, Democrat or Republican, enjoys placing our children and grandchildren and their children and grandchildren in harms way. No one wants to see the frightful storm of unfunded long-term liabilities destroy our economy or threaten the independence and authority of our central bank or tear our currency asunder.
Of late, we have heard many complaints about the weakness of the dollar against the euro and other currencies. It was recently argued Forex Auto Money in the op-ed pages of the Financial Times that one reason for the demise of the British pound was the need to liquidate Englands international reserves to pay off the costs of the Great Wars. In the end, the pound, it was essentially argued, was sunk by the kaisers army and Hitlers bombs. Right now, weyou and Iare launching fiscal bombs against ourselves. You have it in your power as the electors of our fiscal authorities to prevent this destruction.
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