In a grim final speech as KC Fed president, Thomas Hoenig says he expects U.S. economic growth...

In a grim final speech as KC Fed president, Thomas Hoenig says he expects U.S. economic growth to lag behind historical norms for generations. Fed policy has done more harm than good: "When you encourage consumption by inhibiting your interest rates from rising to their equilibrium level, you will in fact buy problems, and we have in fact bought problems."

Comments (7)
  • Dana Blankenhorn
    , contributor
    Comments (13485) | Send Message
    And you guys thought Andrew Mellon was dead. No, like corporations, he's eternal.


    I'll agree corporations are persons only when Texas executes one. <g>
    28 Sep 2011, 06:01 PM Reply Like
  • User 487974
    , contributor
    Comments (1101) | Send Message
    Thank you for being a man and telling the American people what the frack is really staring us down the pike!
    This depression is of Bernanke's own making.
    He gets a mulligan for the first bazooka of QE because "something had to be done!"


    But from Jackson Hole last year,not this past August and the bull crap twist. The (QE2) and a sloppy wet kiss to wall street at the detriment of all hard working Americans,(standard of living killing dollar debasement) he earns our SCORN!


    Now we have the same Wall Street Scuz balls crying for more QE and screw the working man and let the dollar fall crowd!
    Frack you all!
    The dollar needs to rise!
    We need to get fracking real and start to deleverage.
    Not more leverage you fracking A-HOLE Geithner!
    You have some set of balls telling the Europeans to leverage their failure of a bailout fund 10x!
    Hey Tim, you have a sickness pal.
    Thank you Mr. Hoenig! For standing up to this reckless onslaught of the Federal Reserves own making.


    May the good lord watch over this fragile little experiment in freedom we call America


    God Bless The Virtuous
    28 Sep 2011, 06:15 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (13485) | Send Message
    What does that get us? A discontented, lazy rabble instead of a thrifty working class."
    28 Sep 2011, 06:36 PM Reply Like
  • richrf
    , contributor
    Comments (28) | Send Message
    I agree. Greenspan and Bernanke essentially transferred money from savers to speculators and the speculators built trillions of dollars worth of housing which no one wants. It will take decades to pay for the worthless, rotting homes and the overall middle class destruction of wealth that was engineered by the Feds. What are the up to now? They are trying to save the speculators on the backs of the middle class by printing money and destroying savings.
    28 Sep 2011, 06:17 PM Reply Like
  • Stoploss
    , contributor
    Comments (1713) | Send Message
    Notice how these guy's all get religion when they're about to leave?


    Put your crash helmets on..
    28 Sep 2011, 06:18 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9903) | Send Message
    Hoenig is right about low growth, but would not be so sure about generations. Maybe 10 or15 years but not generations. Much of it has to do with the crony capitalist system. If reforms are made in the major problem areas such as healthcare, military, taxes, energy, etc. then growth will return. But if reform is not made then he may be right that it will take generations.
    28 Sep 2011, 07:02 PM Reply Like
  • User 487974
    , contributor
    Comments (1101) | Send Message
    SPOT ON!
    Vulcan mind meld finishing transmission..
    My thought's to a tee!
    Thank God for every hawk...
    21 Oct 2011, 12:15 AM Reply Like
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