October 13, 2012
student at Golden Gate Univ with Roman Bogomazov, learning market analysis.
I felt that Joe Turner's final slide quoting Dallas Fed CEO Richard Fisher needed more explanation. The quote was about Richard Fisher as outspoken critic of FOMC. Richard Fisher thinks the Fed's action are not leading the nation into full recovery and but rather taking us into a possible hyperinflation with worse problems.. I don't agree nor disagree with him. But today's high levels of unemployment requires action from the government. Sure debt is not resolved by adding more debt. But there may not be as much money out there as it appears to be. As Dennis Gartman allured about QE 1 and 2 some of it had ended and QE 3 may not be adding more money supply but rather merely extend it. Also when all central banks are devaluing their currencies. The US $ may not be as low as it may appear relatively to other currencies. What is the alternative to dissenting Fed Richard Fisher's statement when unemployment is so high? So if the Fed does not what it is doing? Then who does?