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Saturday, June 6, 2009

When will there be an end?

I think its a good time for a late night rant.

When will all of this economic and financial crises end? I mean, I have crisis fatigue. With that, the longer it goes, the more afraid I get.

I listened to Neil Cavuto on Fox (yes I watch Fox news) and he was interviewing the finance officer of the newly government owned GM motors. She was totally out of it. It almost made Cavuto cringe. I felt a little sad and despondent myself. But, such is the new GM--perhaps GM at least can't get any worse.

Then there's the constant issued statements from the FED. One day their programme has worked, the next they are fighting inflation, the next the market rallied behind the FED, the other they claim that it's a suckers rally and that its not really to be taken serious.

The latest to add to this confusion, is that it appears that the individual FED chairmen for their districts--most notably the chairmen from the NY and Dallas FED Reserves-- seem to be making their own policy statements. Certainly this undercuts Bernanke...he has to find a way to tamp that down, as only he would take the blame if all else fails!

The Obama administration has gone silent. The latest round of silence from both the US and Britain, has been in the middle of what Angela Merkel- German Chancellor- had to say about the loosey goosey monetary policies that central banks have been undertaking as a result of this crisis.

History indicates that the Germans remain silent on allot of these issues. But, not this time as Merkel has warned that these inflated policies damage more than they do good--Germany is a very conservatively ran economy and they are the hardest hit EU and Developed Economy.

Then there is Japan. Need I say more. They seem to have bigger political issues than they do economic. When the Japanese decide on a long term Prime Minister, then they can add to the debate.

Youri
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