Submitted by Tyler Durden on 07/14/2011 23:21 -0400
* Ben Bernanke
* Bill Dudley
* Debt Ceiling
* Excess Reserves
* Goldman Sachs
* Gross Domestic Product
* Jan Hatzius
* Medicare
* Monetary Policy
* recovery
* Testimony
Still confused by the last two days of Ben Bernanke testimony which in under 24 hours had elements of glaring contradiction? A) You are not alone and B) Judging by the market's response to the Congressional and Senatorial portions of Bernanke's testimony, not even he knows what monetary message he was trying to convey. And since all of his decisions are ultimately predicated by Goldman Sachs (either in the form of current GS employee Jan Hatzius, or former GS employee Bill Dudley) here is Goldman's take on the "Q&A on the Monetary and Fiscal Policy Outlook" based on Alec Phillips and Sven Jari Stehn's take of Humphrey Hawkins events in the past two days.
From Goldman Sachs
Following Chairman Bernanke’s Congressional testimony, the June 12 release of the June Federal Open Market Committee (FOMC) meeting and the ongoing discussions surrounding the fiscal outlook and the debt-limit, we devote today’s comment to discussing recent changes to the monetary and fiscal policy outlook in a Q&A format.
Q: Has the Fed’s assessment of the economic outlook changed?
A: Chairman Bernanke’s remarks on the outlook contained no meaningful surprises. He noted moderate growth in the recovery to date, held back by the household sector in particular, and said that the latest employment report attested to the weakness in the labor market. As in other recent remarks, he continued to point out that some factors holding back growth will likely prove ,,,,,,,,,,,,,,,,,,,,
by km4
on Thu, 07/14/2011 - 23:38
#1458404
who cares about the lens of Goldman Sachs
Kucinich nails it !
Debt Political Theater Diverts Attention While Americans’ Wealth is Stolen
http://goo.gl/i5bQm
his best nuggets
1) Mark my words — Wall Street cashes in whether we have a default or not….
2) These are symptoms of a government which has lost its way, and they are a challenge to the legitimacy of the two-party system.
Ron Paul Exclusive: Who’s Regulating Washington?
http://goo.gl/f5HED
money quote from Ron Paul….
“We have drifted because we had so much prosperity, but we can’t drift forever. We can’t live on borrowed money and printed money forever ”
America’s AAA Rating Not Worth Saving Because “We Are Insolvent”
David Stockman said last Oct : “I think the Fed is injecting high grade monetary heroin into the financial system of the world, and one of these days it is going to kill the patient”
IMO QE3 or QE4 will do it!
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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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