Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Very Strong reason Obama will Win (wonky, but powerful)
The central bank also extended its pledge of super-low interest rates into 2015, and promised to keep highly accommodative monetary policy in place even after the economic recovery strengthens
Bernanke made a promise to the markets today.
1) The current low Fed rates will continue into 2015
2) Bernanke promises to not raise rates if a recovery gets started. Bernanke will permit some inflation to give a recovery room to run.
Here's the thing... Bernanke's term is up in early 2014. He cannot promise what the Fed will be doing after that point. The Fed cannot be bound to future policy action.
And Romney has vowed (more than once) to replace Bernanke.
So Bernanke's promise to the markets is inoperative if Romney wins.
This is what Joe Biden would call a big fucking deal.
[font size=3]A vote for Romney is now all but officially a vote for Higher Interest Rates.[/font size]
Not as spin, but as the kind of real policy assessment big money players make.
The late donations from Big Money interests will switch from 80% Romney to 50% Romney.
This won't play on the Evening News, but this is poison for Romney.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 1121 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (2)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
A Very Strong reason Obama will Win (wonky, but powerful) (Original Post)
cthulu2016
Sep 2012
OP
At first Myth said he'd fire Bernanke, then he did a Linda Blair head spin, and took it all back. nt
phasma ex machina
Sep 2012
#1
Then it seems that Myth's head spun all the way around to hate on Bernanke yet again.
phasma ex machina
Sep 2012
#3
phasma ex machina
(2,328 posts)1. At first Myth said he'd fire Bernanke, then he did a Linda Blair head spin, and took it all back. nt
cthulu2016
(10,960 posts)2. Romney adviser Glenn Hubbard said Bernanke wasn't so bad, and Mitt
reiterated that he wanted a change in response to Hubbard's under-cut. (Funny, since Hubbard is the likeliest Romney pick for Fed Chair)
That was in late Auguest, and today Romney pretty much called Barnake nams so if anything has changed I haven't heard.
phasma ex machina
(2,328 posts)3. Then it seems that Myth's head spun all the way around to hate on Bernanke yet again.
(Hubbard's just Myth's beard for the old "he said, she said" bit.)