Is Bernanke next on the hitlist? | Forex Factory

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Is Bernanke next on the hitlist?

  • #1
  • First Post: Dec 17, 2007 2:32am Dec 17, 2007 2:32am
Markets asked for THE solution:

Cut rates... Market's sentiment: Didn't work.

Cut more... Market's sentiment: Nothing...

Cut more... Market's sentiment: Not enough...

Central Banks' plan? Market's sentiment: Fiasco.

Now early comments say Bernanke's head on a silver plate is mandatory.

Do you think Bernanke is going to make it through 2008?

Sincerely, I wouldn't be surprised if he's not eating his Easter egg as Fed chairman.
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  • #2
  • Dec 17, 2007 6:01am Dec 17, 2007 6:01am
Quoting cesarnc
Markets asked for THE solution:

Cut rates... Market's sentiment: Didn't work.

Cut more... Market's sentiment: Nothing...

Cut more... Market's sentiment: Not enough...

Central Banks' plan? Market's sentiment: Fiasco.

Now early comments say Bernanke's head on a silver plate is mandatory.

Do you think Bernanke is going to make it through 2008?

Sincerely, I wouldn't be surprised if he's not eating his Easter egg as Fed chairman.
What do you mean by "didn't work"?

Do you expect the national economy to suddenly turn on a dime just because the fed cuts rates?

It takes many years for the economy to change.

After all, we are only now seeing the effects of the Greenspan years.
  • #3
  • Dec 17, 2007 6:06am Dec 17, 2007 6:06am
Quoting blueruby
What do you mean by "didn't work"?
Market's sentiment: lack of trust in banks and lack of trust that the rate cuts will ease their situation. If it will work or not 2 years for now, doen't matter. It matters what the market is trading NOW.
  • #4
  • Dec 17, 2007 6:15am Dec 17, 2007 6:15am
Quoting cesarnc
Market's sentiment: lack of trust in banks and lack of trust that the rate cuts will ease their situation. If it will work or not 2 years for now, doen't matter. It matters what the market is trading NOW.
The things that have to change are as individual as every American with a mortgage, or every trader, while the only lever the fed has is interest rates. It takes more than that, and it takes time for sentiment to change, other than the initial 20 minute spike.

Furthermore, the dollar is doing what it's being forced to do.

The mortgage crisis was engineered and planned, how could it not be?

I'm not sure why, yet. Probably because housing can be picked up cheaply now, and will increase rapidly in price when the NA Union is formed and the borders are opened?
  • #5
  • Dec 17, 2007 6:38am Dec 17, 2007 6:38am
Second try for the god damn subject and second time it barely gets through the first page in the same god damn subject.

The god damn subject is: Is Bernanke himself the next on the hitlist or will the markets go on begging for cuts after cuts after cuts.

I'm not taking this subject out of the hat. I've seen more than once and at different sources comments that Fed principals should resign.

I'm bound to believe that next "market begging" will be "Bernanke's head" instead of cut this, raise that, bail us out please.
  • #6
  • Dec 17, 2007 6:43am Dec 17, 2007 6:43am
Quoting cesarnc
Second try for the god damn subject and second time it barely gets through the first page in the same god damn subject.

The god damn subject is: Is Bernanke himself the next on the hitlist or will the markets go on begging for cuts after cuts after cuts.

I'm not taking this subject out of the hat. I've seen more than once and at different sources comments that Fed principals should resign.

I'm bound to believe that next "market begging" will be "Bernanke's head" instead of cut this, raise that, bail us out please.
Probably everyone will be afraid to reply now. Why don't you just tell us the answer and we'll all nod.

And, btw, along with being poor taste, posting a picture of a government figure with a target on their forehead can quickly earn you a visit from some gentlemen with dark glasses and badges.
  • #7
  • Dec 17, 2007 6:50am Dec 17, 2007 6:50am
I tried Merlin!!! You cannot say that I didn't !!!

  • #8
  • Dec 17, 2007 7:02am Dec 17, 2007 7:02am
Let's go then.

People always think that governing a country or a country's monetary system is easy but is it really so? In case you haven't noticed, we are now facing repercussions of Greenspan's cheap money and cleaning it up is a bit of chore. Sure, Bernanke's moves looks wrong, but policies like that takes time to workout. Give the guy some time. Although the low dollar has given America some advantage, it's already so high and with a 50 bp rate cut, inflationary pressure will definitely skyrocket, it's already begun, look at yesterday's (or was it the day before) inflation figures.
  • #9
  • Dec 17, 2007 7:24am Dec 17, 2007 7:24am
Back to the original subject...

I don't think Bernanke will be leaving his post just yet. If he lost his post now, the entire Federal Reserve system would look like a joke, completely at the mercy of the markets.

Once a recession is official, even average people will start calling for his head, making it seem like a much more democratic decision.

BTW, I love the way Greenspan plays down his role in creating the pickle he handed down to Bernanke.
  • #10
  • Dec 17, 2007 7:37am Dec 17, 2007 7:37am
Quoting JodyOng
Let's go then.

In case you haven't noticed, we are now facing repercussions of Greenspan's cheap money and cleaning it up is a bit of chore.
Let's go (again) then.

In case you haven't noticed, I'm not discussing when this got started, what are the solutions, if Fed is right or wrong. I'm discussing whether or not Bernanke is next on the hitlist.

Quote
Back to the original subject...

I don't think Bernanke will be leaving his post just yet. If he lost his post now, the entire Federal Reserve system would look like a joke, completely at the mercy of the markets.

Once a recession is official, even average people will start calling for his head, making it seem like a much more democratic decision.

BTW, I love the way Greenspan plays down his role in creating the pickle he handed down to Bernanke.

Finally.

I forgot about the recession factor. But I still think things are going to get hot for Bernanke. Nobody is blaming the banks for what is going on LOL... Everybody wants the govt to bring the solution. "You cannot solve our mess? Get out of there, then!" LOL...
  • #11
  • Dec 17, 2007 7:46am Dec 17, 2007 7:46am
ok im going to stick very close to the subject so cesar doesnt yell at me LOL (thanks for posting here btw, i really wanted to respond to this!! )

seriously though... is it plausible that that bernanke could get booted?? well, it never even crossed my mind until now. my initial reaction is "hell no".

first, bernanke has not come up with any kind of "new" policy. he picked up where greenspan left off. if you remember, greenspan was on a hawkish tear when he resigned, and bernanke picked up where greeny left off.

second, the bursting of the housing bubble was done PURPOSELY by the fed. they lowered rates to bring us out of the dot bomb, and then they rasied them to kill the housing bubble. seems to me that they are getting exactly what they want.

thirdly, the US scrutinizes potential fed chairman VERY closely. this is the most powerful job position in the world, and it is treated as such. its not plausible to me that we would have the confidence to put a chairman in place then turn around and fire the guy. the process is just too rigorous.

fourthly, who the hell would start such a movement to remove the fed chair? congress?!? HA! LOL. it would be a brave bastard that get that ball rolling.

fifthly, the credit crisis is NOT confined to the US, so how can one man possibly be blamed??

and finally, bernanke is far too good looking to get fired:

so are there any reasons he should be fired, other than a knee-jerk reaction to a seemly bad credit crunch?
Relax and be happy.
  • #12
  • Dec 17, 2007 8:03am Dec 17, 2007 8:03am
Quoting merlin
ok im going to stick very close to the subject so cesar doesnt yell at me LOL (thanks for posting here btw, i really wanted to respond to this!! )

seriously though... is it plausible that that bernanke could get booted?? well, it never even crossed my mind until now. my initial reaction is "hell no".

first, bernanke has not come up with any kind of "new" policy. he picked up where greenspan left off. if you remember, greenspan was on a hawkish tear when he resigned, and bernanke picked up where greeny left off.

second, the bursting of the housing bubble was done PURPOSELY by the fed. they lowered rates to bring us out of the dot bomb, and then they rasied them to kill the housing bubble. seems to me that they are getting exactly what they want.

thirdly, the US scrutinizes potential fed chairman VERY closely. this is the most powerful job position in the world, and it is treated as such. its not plausible to me that we would have the confidence to put a chairman in place then turn around and fire the guy. the process is just too rigorous.

fourthly, who the hell would start such a movement to remove the fed chair? congress?!? HA! LOL. it would be a brave bastard that get that ball rolling.

fifthly, the credit crisis is NOT confined to the US, so how can one man possibly be blamed??

and finally, bernanke is far too good looking to get fired:

so are there any reasons he should be fired, other than a knee-jerk reaction to a seemly bad credit crunch?
You're right in every word. But market is going to ask for something (as usual). And fair or not fair, I think his head is the next to be asked for. Just a few more bad news required, which is said to be a coming:

- "M&A to drop 20% next year due to credit crunch"
- "credit crunch: we've seen the tip of the iceberg only"
- "more writedowns coming"
- on and on and on...
  • #13
  • Dec 17, 2007 8:06am Dec 17, 2007 8:06am
Good post merlin, I especially agree with the following:

Quoting merlin
thirdly, the US scrutinizes potential fed chairman VERY closely. this is the most powerful job position in the world, and it is treated as such. its not plausible to me that we would have the confidence to put a chairman in place then turn around and fire the guy. the process is just too rigorous.
It would call into question the entire process of choosing a chairman.

I'm not sure how many beers it would take before I consider the man attractive though... so your 6th point seems a bit dubious.
  • #14
  • Dec 17, 2007 8:22am Dec 17, 2007 8:22am
Quoting cesarnc
And fair or not fair, I think his head is the next to be asked for.
sure, the "market" may call for bernanke's head (already has been), but the market calls for all kinds of crazy shit LOL. for real action to be taken, we would need someone to champion the cause, and i cant think of anyone who has the political capital to do that.

btw, i made the following post earlier this year regarding subprime. its part of the natural cycle for the politicians to try to use financial crisis to their advantage, so its not impossible to think someone will champion the removal of bernanke. although i would bet my left pinky toe that bernanke is the chairman for the next 5 years at least.
Quoting merlin
everything gets overdone like that, and im sure politics will play its part as well as these political candidates start trying to show their heroics.
Relax and be happy.
  • #15
  • Dec 17, 2007 8:26am Dec 17, 2007 8:26am
oh i forgot one more reason bernanke wont be fired.... in most every meeting, all of the board members vote along with bernanke (the only dissenters that appeared wanted higher rates, not lower). so to fire bernanke is to fire the entire FOMC!
Relax and be happy.
  • #16
  • Dec 17, 2007 8:30am Dec 17, 2007 8:30am
Quoting merlin

btw, i made the following post earlier this year regarding subprime. its part of the natural cycle for the politicians to try to use financial crisis to their advantage, so its not impossible to think someone will champion the removal of bernanke. although i would bet my left pinky toe that bernanke is the chairman for the next 5 years at least.
I'm wondering if you lost the right pinky toe in the Greenspan era
  • #17
  • Dec 17, 2007 8:36am Dec 17, 2007 8:36am


i am proud to say i have lost NO digits during financial bets. my nubs are from bets with my wife
Relax and be happy.
  • #18
  • Dec 17, 2007 8:55am Dec 17, 2007 8:55am
While it is hard to believe by reading the press, the prime concern of the Fed is NOT the markets. It is the economy, which as mentioned takes time to turn around.
No I do not see Bernanke removed any time soon.
In trading, there is no bullshit. You either make money or you don't.
  • #19
  • Dec 17, 2007 2:04pm Dec 17, 2007 2:04pm
Now let's see how THIS is going to work out

The U.S. economy is showing early signs of stagflation as growth threatens to stall while food and energy prices soar, former U.S. Federal Reserve Chairman Alan Greenspan said on Sunday.In an interview on ABC's "This Week with George Stephanopoulos,'' Greenspan said low inflation was a major contributor to economic growth and prices must be held in check.

"We are beginning to get not stagflation, but the early symptoms of it,'' Greenspan said.

"Fundamentally, inflation must be suppressed,'' he added. ''It's critically important that the Federal Reserve is allowed politically to do what it has to do to suppress the inflation rates that I see emerging, not immediately, but clearly over the intermediate and longer-term period.''

http://z.about.com/d/politicalhumor/...n_bernanke.gif
  • #20
  • Dec 17, 2007 11:22pm Dec 17, 2007 11:22pm
Quoting cesarnc
You're right in every word. But market is going to ask for something (as usual). And fair or not fair, I think his head is the next to be asked for. Just a few more bad news required, which is said to be a coming:

- "M&A to drop 20% next year due to credit crunch"
- "credit crunch: we've seen the tip of the iceberg only"
- "more writedowns coming"
- on and on and on...
Guys.... here's what's next http://www.forexfactory.com/showpost...63&postcount=1
Same Whore .... Different Dress
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