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Big Ben Digs the Money Honey
Old 05-02-2006, 06:02 PM   #1
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Big Ben Digs the Money Honey

http://biz.yahoo.com/rb/060502/econo...anke.html?.v=3

This boy better watch out. Send him to see the 1930s version of The Blue Angel
Marlene Dietrich lays it all out.

Ha
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 07:04 AM   #2
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Re: Big Ben Digs the Money Honey

I think this will be the first of many "market moving" comments from Ben. Traders should love it . . . everyone else, hang on for a wild ride.
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 08:04 AM   #3
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Re: Big Ben Digs the Money Honey

I didnt take the info very happily. Media takes his comments wrong and he waits a week to remark on it?

Is he pissed that he doesnt have the armies of people following him around to try to decipher the 'greenspanspeak'?

Is there a reason that a fed chairman cant just answer the dang questions with comprehensible answers and say what he means, and if someone gets it wrong, promptly correct them? Is there a need for the mystery?
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 08:17 AM   #4
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Re: Big Ben Digs the Money Honey

Quote:
Originally Posted by Cute Fuzzy Bunny
Is there a reason that a fed chairman cant just answer the dang questions with comprehensible answers and say what he means, and if someone gets it wrong, promptly correct them?* Is there a need for the mystery?
I think that most Fed Chairs try to do this. But A) they are inevitably economists who are used to speaking to other economists, and B) both the questions and the answers are bg, complex things that don't lend themselves to soundbites. Add in the fact that allowing themselves to be pinned down is bad for the Fed's inflation-fighting power, and you end up with a lot of confusion.
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 08:52 AM   #5
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Re: Big Ben Digs the Money Honey

I agree with CFB. (I can't even believe I just wrote that!!)
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 09:16 AM   #6
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Re: Big Ben Digs the Money Honey

Ha ha!

Busted clock is right twice a day. Dont feel bad.
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 09:20 AM   #7
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Re: Big Ben Digs the Money Honey

I guess if the problem is that these guys cant speak english, maybe they should do what the white house does and hire a spokesperson or a speech writer to help them massage their dialog and answers into rational, meaningful discourse?

I'm pretty sure the folks on capitol hill arent (for the most part) economists either, so perhaps giving our decision makers more easily consumed input would result in a better process?

I think I can help Bernanke here: "We're not sure if we're done raising interest rates yet, it takes a long time...sometimes years...for changes to fully take effect. But we've raised them a lot and if we do raise them further, it'll be based on the data we see, and we probably wont raise more than one or two times at the most. We might just take a break for six months to a year and not raise at all. But we'll keep a close eye on the data".

There...simple, concise, says what I think everyone incuding the fed really thinks.

I'm wondering if the guy isnt so caught up in the "I dont want to be perceived as an 'inflation dove' so i'm going to keep raising rates when people dont think I will" thing...

Stupid.
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 09:55 AM   #8
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Re: Big Ben Digs the Money Honey

1) recall than Glen Hubbard was being considered for the job
2) view the following:
http://www0.gsb.columbia.edu/students/organizations/follies/media/EveryBreath.wmv
3) gotta luv it!
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Re: Big Ben Digs the Money Honey
Old 05-03-2006, 09:56 AM   #9
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Re: Big Ben Digs the Money Honey

second try:

http://www0.gsb.columbia.edu/student...veryBreath.wmv
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