Post by jeffolie on Sept 26, 2012 21:38:42 GMT -6
FED Is A Fraud, no help for most common American
market-ticker.org/akcs-www?get_gallerynr=3581
Denninger "moves the goal posts". In his view, QEs do not increase the employment as he defines employment as "... the percentage of working-age people who have jobs, no better than it was when QE was first initiated. ... ".
Govt defines employment differently as U3, the percentage of people 'looking for work' by dropping people no longer filing for jobless benefits [evern those whose benefits have expired are dropped].
Denninger should be applying bart's U7 ... a broader measure ... the results would be worse for QEs.
I continue the theme that the FED supports the banks who own the FED ... not the taxpayers, not the unemployed.
So, mostly on this concept, my jeffolie view matchs Denninger's view that the FED (The Fed Is A Fraud) does little or nothing to positively impact the most common American...other than help with the backoffice in banks such as wire transfers, check cashing, etc.
======================================
Really Plosser? (The Fed Is A Fraud)
The Market Ticker2012-09-25 22:15
by Karl Denninger
Really Plosser? (The Fed Is A Fraud)
Bloomberg gave this some ink...
“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Plosser said in a speech today at the district bank in Philadelphia. “Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed’s credibility.”
Unlikely?
Charles, you ignorant slut. Stop speaking in half-truths.
None of the QE games have done a damn thing for employment.
Employment is factually, when looked at through the only lens that matters, the percentage of working-age people who have jobs, no better than it was when QE was first initiated.
This, incidentally, is why I was all over Bernanke originally on the announcement; he has the same charts I and everyone else does and therefore The Fed Statement was a knowing, intentional fraud as there is no evidence that any of the previous QEs have done anything whatsoever to improve the job market and Bernanke knows it.
market-ticker.org/akcs-www?get_gallerynr=3581
market-ticker.org/akcs-www?post=211981
market-ticker.org/akcs-www?get_gallerynr=3581
Denninger "moves the goal posts". In his view, QEs do not increase the employment as he defines employment as "... the percentage of working-age people who have jobs, no better than it was when QE was first initiated. ... ".
Govt defines employment differently as U3, the percentage of people 'looking for work' by dropping people no longer filing for jobless benefits [evern those whose benefits have expired are dropped].
Denninger should be applying bart's U7 ... a broader measure ... the results would be worse for QEs.
I continue the theme that the FED supports the banks who own the FED ... not the taxpayers, not the unemployed.
So, mostly on this concept, my jeffolie view matchs Denninger's view that the FED (The Fed Is A Fraud) does little or nothing to positively impact the most common American...other than help with the backoffice in banks such as wire transfers, check cashing, etc.
======================================
Really Plosser? (The Fed Is A Fraud)
The Market Ticker2012-09-25 22:15
by Karl Denninger
Really Plosser? (The Fed Is A Fraud)
Bloomberg gave this some ink...
“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Plosser said in a speech today at the district bank in Philadelphia. “Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed’s credibility.”
Unlikely?
Charles, you ignorant slut. Stop speaking in half-truths.
None of the QE games have done a damn thing for employment.
Employment is factually, when looked at through the only lens that matters, the percentage of working-age people who have jobs, no better than it was when QE was first initiated.
This, incidentally, is why I was all over Bernanke originally on the announcement; he has the same charts I and everyone else does and therefore The Fed Statement was a knowing, intentional fraud as there is no evidence that any of the previous QEs have done anything whatsoever to improve the job market and Bernanke knows it.
market-ticker.org/akcs-www?get_gallerynr=3581
market-ticker.org/akcs-www?post=211981