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  • Williams Calls for at Least $600 Billion in Fed Purchases

    From bloomberg.com

    Read Full Story at bloomberg.com

    Federal Reserve Bank of San Francisco President John Williams called for additional bond purchases by the Fed to spur economic growth that would be open- ended and total at least $600 billion. High unemployment and inflation below the Fed’s 2 percent target “would argue for additional accommodation now,” Williams said today in an interview on Bloomberg Television from Jackson Hole, Wyoming. “I would like to see something that has a measurable effect on job growth. That would be arguing for a pretty large program” that’s “at least as large as QE2,” or the second round of quantitative easing, he said. ... (full story)

    • Reb

      167 posts
    • I would like to see this guy fired!

    • Reb

      167 posts
    • Really, who digs up these total idiots?

    • Argent

      20 posts
    • And the American public wonders why their economy is not healthy.
      If these are the people responsible for getting GDP up, then be ready to be very disappointed.

    • wlarimer

      254 posts
    • If the US government were to go all in for resource development as a means to stop the bleeding on the balance of trade front, and get rid of uhbammacare, quit funding the schoolteachers union, the dea, cia, secret service, and a number of other 3 letter beauracracies (tsa and dhs come to mind) and "tighen up" the federal spending belt a little, we could get on the road to recovery.

      Conversely, had the fed written a check the equal of all the stimulus money borrowed against the tax-payer to the IRS at the start of the subprime wreck, the IRS could have sent every tax return filed that year a tax return of one hundred, sixty thousand dollars and the real estate wreck would have never happened and the banks wouldn't have needed bailing out. It the knuckleheads in DC want to get the ball rolling again, it'd be easy. The answer is that they don't want to if it means giving some money back to the people they got it from.

      Note: I didn't say that it would be a great idea to give sixteen trillion dollars of borrowed money away, only that the way they did it was worthless unless you own a bank.

    • jagonzalez

      244 posts
    • wlarimer.....soo many sentences and soo much rubbish....wow

    • Guest

      IP XXX.XX.82.98
    • QE3 is goooooood.....

      agree with you wlarimer

    • Mike Haran

        802 posts
    • Sure give the people free money its only paper any way, start the presses and print long and hard. Its not worth anything, its all what we think its worth which is why the US cannot print their way out of this mess.

      Its like turning on a grow light trying to keep the trees growing because winters comming. Without collapse you don't get rid of the weak and poor businesses that cannot turn a profit, sad as it is the weak need to be removed from the system so it can grow again. All the bail out banks need to be shut down because they have proved unable to stand alone. They will be replaced by new banks that will be able to make a profit and not require bailing out.

      You cannot have a system where it is always on, even the sun goes though cycles of output and so do most systems in nature. Our financial system is no different it needs to collapse so it can grow again.

      All the stimulus will only prolong the collapse, prune it back and watch it flourish again.

    • Reb

      167 posts
    • Mike Haran is completely correct. The Fed thinks they are the key to perpetual prosperity. Ego-tripping idiots. Propping up the stock market and padding the banks balance sheet. They should all be arrested!

    • jagonzalez

      244 posts
    • whatever.....forex is about bankng pips not preaching to the choir....which is what all you guys rhetoric is all about

    • IberoForex

      560 posts
    • The rhetoric and exchange of ideas is important, since some open positions for an hour or two, others for the whole week ....

    • jagonzalez

      244 posts
    • ideas?? yeah, larimer has great ideas. lol. he is definitely contributing great ridiculous and extreme unidealistic ideas that will gravely alter what position I want to take tomorrow or in a week....lol..... how is not funding this country's national security gonna help this economy or alter a trading position???? it's obvious you either didn't even bother reading his post or you are just oblivious to common sense.

    • moaf
      moaf's Avatar

        910 posts
    • Quoting Reb
      Mike Haran is completely correct. The Fed thinks they are the key to perpetual prosperity. Ego-tripping idiots. Propping up the stock market and padding the banks balance sheet. They should all be arrested!
      it's not the case what is right or wrong, but they do ...

    • Mike Haran

        802 posts
    • Nice to have an excahnge of ideas guys, what I am saying is that you cannot stop the cycles of growth and decay. So no matter what goes on the system has to collapse to start again, sadly I think that the people in power know this and the next collapse might be aimed at us.Think along the lines of first and second world war.

    • jagonzalez

      244 posts
    • I agree that central bankers are intervening way too much and not letting capitalism run its course, however, I disagree that the system NEEDS to collapse. Business are not hiring because there are less profits and with that comes less employees and cutbacks. They are fearful that obamacare will make it that much more expensive to run a profitable business. Their fear is legitimate. What business would hire right now? On top of that, the wealthy are fearful of paying higher taxes based on the notion that "because the economy sucks, you need to pay more". So I work hard and make lot's of money, so I'm suppose to pay more to save this economy?? Capitalism needs to run it's normal course and that necessarily does not mean going through a total collapse. Fear and obama is hindering this economy and the feds can't do nothing about that, only a market that allows capitalism to run its due natural course.

    • mlfx
      mlfx's Avatar

      70 posts
    • capitalism? wake up. there is no capital. the entire QE plan was a government guarantee to support Goldman Sach's illegal, er, "proprietary" speculation and manipulation. it worked. but it's over now.

    • jagonzalez

      244 posts
    • so according to mlfx....capitalism is over.....sufice to say, you're a cynic....you believe the rubbish your brains spills out...that's the sad part

    • Reb

      167 posts
    • I am long when the chart signals to be long. Same for short. But it is interesting to debate economic strategies. Capitalism and free enterprise is definitely not over. It is being re-born with a new free market president. Mitt Romney is on the charge.

    • Rknigh2
      Rknigh2's Avatar

      162 posts
    • Only poor people think capitalism will change... and then they complain about being poor.

    • mlfx
      mlfx's Avatar

      70 posts
    • By definition, free enterprise is sink or swim. Free to succeed. Free to fail.

      Bailouts are not part of free enterprise. Period.
      "Too big to fail" is a euphemism for fascism, which is what we have now.

    • mlfx
      mlfx's Avatar

      70 posts
    • Quoting jagonzalez
      sufice to say, you're a cynic....you believe the rubbish your brains spills out...that's the sad part
      Please, if you are going to insult me, use correct spelling and grammar. Articulate bullies are way more abrasive. Thank you.

      But since this is just for fun and learning:

      My favorite trading system is called "magical thinking." Then there's the "if you can't beat em join em" system, which is mostly comprised of novice traders who kept margining out their mini accounts trying to sell the eur/usd.

    • jagonzalez

      244 posts
    • way too much time on your hands for grammar checks...wow....by...um, i meant bye

    • Loadedgun

        3,011 posts
    • Quoting Reb
      Mitt Romney is on the charge.
      Seems unlikely americans will make the same mistake thrice - twice with Bush and then...No don't think so. They have little credibility left after Bush and Obama has not done much to change that but has not tipped the scale either - but a romney that would decidedly be asking for pariah status.

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