for the Cliff Notes and here for a little more substance:
Maybe there will no QEx, lets hope not. We do not need any further taxpayer subsidized underwriting of major bank profits. They won’t fail, so says Warren Buffet.
It appears that Bernanke’s speech was a clear indicator that the Fed is finally poised to enable a ‘free-market capitalist’ economy to function in line with its mantra: a free market where financial resources always seems to find the most efficient path along its way to the other exploits of capitalism, that being the most efficient use of labor and land.
We will rebound, and reinvent along the way – that is our nature. Innovation through entrepreneurialism, unbounded by unfair advantage to the corporate oligarchs that has been the Fed purpose these last few years.
Let it go. I am very happy the Fed is taking a long-term view of our macro economic scenarios; this is exactly what we need to recover.
Now if we can just convince Washington to keep out tax dollars at home, you know for little stuff like stimulating investment by entrepreneurs to rebuild our true GDP production capacity by having businesses invest in capabilities that make and sell things that employee people, we might get a macro-economic fiscal program that works.