re: "If I were Obama or Bernanke (who also loses his job if Romney wins), I would be giving SERIOUS thought to initiating another bailout before the election."
meme,
You could be right to disagree with me on the above. But read the following. Not technically a "bailout" - but who are we trying to kid? It might as well be.
Fed Signals Easing Option Amid Europe Risks to Growth
Several on FOMC Said Easing May Be Needed on Faltering
By Joshua Zumbrun - May 17, 2012 12:01 AM ET
bloomberg.com
The Federal Reserve signaled further monetary easing remains an option to protect the U.S. economy from the danger that lawmakers will fail to reach agreement on the budget or Europe’s debt woes worsen.
Several members of the Federal Open Market Committee said new actions could be necessary if the economy loses momentum or “downside risks to the forecast became great enough,” according to minutes of the Federal Open Market Committee’s April meeting released yesterday in Washington.
U.S. stocks declined yesterday as reports the European Central Bank will stop lending to some Greek banks overshadowed stronger-than-forecast data on U.S. housing and manufacturing. A focus on threats to the U.S. economy gives officials more scope to ease policy, said Michael Hanson, senior U.S. economist at Bank of America Corp. in New York.
“If you have very clear and potentially large downside risks, like the fiscal cliff and Europe’s debt crisis, you are going to have a little more of an easing bias in place,” said Hanson, who formerly worked in the Fed’s monetary affairs division.
The Standard & Poor’s 500 Index (SPX) fell 0.4 percent to 1,324.80, the lowest since February. Treasury notes erased losses, leaving the yield on the 10-year Treasury note little changed at 1.76 percent.
More: http://www.bloomberg.com/news/2012-05-17/several-on-fomc-said-easing-may-be-needed-on-faltering.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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