Seeking Alpha
  • humahuaca
    Here's all you need to know if you are still a bear. WSJ interview with M Draghi: WSJ: What's the first thing you look at every morning?
    2/23/12
    Reply (18)
    • humahuaca: Draghi: "Stock markets"
      2/23/12
    • humahuaca: WSJ: Do you look at the Euro exchange rate? Draghi: "Not in the early morning"
      2/23/12
    • humahuaca: Nuff said. I am sure Bernanke would answer in the same way.
      2/23/12
    • Husky Financial: Trying to spark a positive feedback cycle. If they place the stock market at the top of their list, they believe everything else will follow
      2/23/12
    • humahuaca: Sounds like the old 'trickle down theory' to me. Is Obama aware that he's now imitating Reagan? lol
      2/23/12
    • Husky Financial: Reaganomics makes the most sense from a politician standpoint... increase spending, decrease taxes, throw it on the tab!
      2/23/12
    • Josh Krause: Why would they look at the markets when they are constantly being distorted by their own actions? Feedback loop.
      2/23/12
    • humahuaca: They're just checking to see 'if it's working'. Interesting to see the priority spelled out so clearly.
      2/23/12
    • Josh Krause: But it's just so asinine. According to the CPI we were fine in 2008. CPI doesn't detect asset bubbles.
      2/23/12
    • Josh Krause: And the stock market is prone to massive asset bubbles. If they want the markets to work, they shouldn't blow bubbles.
      2/23/12
    • humahuaca: ahhh but KK the chairman of the Fed is much smarter than millions of market participants put together. He can see faaaaaar ahead and use
      2/23/12
    • Husky Financial: you guys need to read up on my man von Mises lol
      2/23/12
    • humahuaca: his special abilities to smooth out market fluctuations. You know, just like Greenspan did.
      2/23/12
    • Josh Krause: ZH had some great charts on CPI vs the Nasdaq in 2000 and Case Shiller home price index in 2007. CPI was useless in identifying the bubble
      2/23/12
    • Josh Krause: Von Mises will never get a.seat.at the table. Keynes males people feel like they are doing something. Especially politicians.
      2/23/12
    • humahuaca: good point KK. A lot of people will never grasp the idea that sometimes doing nothing is the best thing. Husky, I'm being sarcastic. I read
      2/23/12
    • humahuaca: Human Action when I was 20, so 30 years ago. I had an austrian econ prof in the early 80's, what a stroke of luck.
      2/23/12
    • Josh Krause: Sometimes doing nothing is the hardest thing to do. For example not drinking, drugs etc. Not doing them is hard when addicted.
      2/23/12