Kramer: Investigate Fed!

Lao Tse

Lao Tse

Verified User
Kramer Calls For Investigation Of Fed
Popular financial expert questions Bernanke's obsession with wild interest rate cuts, "the man has no idea what he's doing"
Paul Joseph Watson
Prison Planet
Wednesday, January 23, 2008
http://www.prisonplanet.com/articles/january2008/012308_kramer_calls.htm


Popular financial expert Jim "Mad Money" Kramer has called for the Federal Reserve to be investigated in light of recent wild interest rate cuts, insinuating that the Fed is following a different agenda to the interests of the American people as the economy teeters on the brink of a recession.

"I actually want to call right here for an investigation of what the Fed did. An investigation of the institution, because I think the institution has been behind almost every boom and bust that we've had for many many years. And its really starting to [be the] time to look to see what this institution is all about," Kramer told TheStreet.com in a video report yesterday.

Kramer slammed those that gave the Fed carte blanche to take whatever action it wanted without scrutiny, stating, "You should never give a blank check to anyone - particularly someone as inexperienced as Bernanke," and questioned the bizarre slap-dash nature of recent rate cuts when compared to Bernanke's rhetoric.

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Look. Another anti-semite!
 
I don't see why we don't just have a steady Monetary growth at slightly above the proven average GPD growth and let rates be decided by that. The fed is responisible for the two worst economic events of the past 100 years and may be helping make this the next one.
 
Kramer is a nutjob, I'm sure his goldman sacks credentials are impecable but his pompus self proclaim expert on all things economy are sickening. He did a dean calling for a huge cut a few weeks ago. He flip/flops more than Kerry ever did.
 
It is kinda dangerous to keep cutting the rate when you have inflation as a problem.

Its getting pretty scary out there.

This may end up making stagflation look like nothing
 
Staigflation we had double digit inflation and double digit unemployment then needed 20% interest rates and strick regulation on bank deposits to get rid of it. We won't get that but if they think they're going to some new phillips curve like it seems they might, we'll see a lesser version of that.
 
Yeah but imagine not just stagnation and inflation together but a falling economy and inflation

Fallation.

man that sounds dirty
 
Desh said:
It is kinda dangerous to keep cutting the rate when you have inflation as a problem.

Its getting pretty scary out there.

This may end up making stagflation look like nothing
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It is dangerous, but not as dangerous as steadfastly refusing to supply the market with liquidity. I think that was one of the biggest factors in the 1929 crash.
 
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Federal Reserve banker #1: Hey, there's this slowdown thing coming, should we raise interest rates to keep cheap money out of the hands of irresponsible borrowers?

Federal Reserve banker #2: LOL
 
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