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Joseph P. Porter
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I am a retired college faculty in Philosophy, with specializations in Ethics, Socio-political Theory and Rational Choice/Decision Theory. My teaching focus was on Business Ethics, Medical Ethics and Logic. After retirement I freelanced as a Grant Writer/Fund Raising Consultant. I have taught at... More
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  • Is It Just Me, Or ... 2 comments
    Jun 28, 2013 12:15 PM

    Is the Fed out to rain on everyone's parade?

    I appreciate everything Bernanke and Co. do for the economy. Really. They have done their level best to help bring the economy around in a responsible fashion. The policies they've enacted have been - IMNTBHO - carefully crafted, restrained and most intelligent.

    But

    Someone has to tell them to shut their mouths. Every time the market starts to look like it might just take off, someone from the Fed promptly opens their mouth, puts a foot in it, and scares the bejeezus out of investors.

    You see, the Fed may have its actions all planned out, but the average person doesn't understand the complex principles behind those actions.

    When investors hear about ending something that has accomplished so much good, they don't stop and think - "hey - yeah. We don't need that anymore. We can succeed on our own." Instead, they instantly say "WAIT! Nononononono! Keep it going just a while longer! Puh-leeze!"

    The market then tanks, and everyone loses 5% - 10% of their portfolios.

    Lately, it's the talk about when quantitative easing will be "eased." Maybe in September the Fed will begin to gradually cut back on its purchases. Maybe by the end of 2014, no more QEternity.

    Who said that?

    Just another Fed talking head.

    I, for one, think it will soon be time to end QE. Sure. Why not?

    Just shut up about it, and let investors live in la-la land.

    Everything will be just fine.

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Comments (2)
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  • obieephyhm
    , contributor
    Comments (1591) | Send Message
     
    Well said. Thank you!
    28 Jun 2013, 01:58 PM Reply Like
  • Joseph P. Porter
    , contributor
    Comments (917) | Send Message
     
    Author’s reply » My pleasure - some things need to be said.
    28 Jun 2013, 04:56 PM Reply Like
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