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  • hickey90 hickey90 Sep 23, 2011 1:51 PM Flag

    KO'ed by Bernanke today

    What a bunch of horse pucky! The banks aren't doing squat!

    Have you gone over to FRED recently and checked the M1 multiplier.
    The FED is flattening the yield curve. But the banks make too much money just sitting on excess cash the FED is paying them to sit on it.. they are not lending.
    This is why twist won't work in MHO. Money is drying up. All the stimulus money hasn't done anything.
    In the old days the banks worked when they acted as banks. In 1985 the multiplier was over 3x.
    now it is under 1.
    And you think the banks are doing a great job? Both you and the Duck are nuts. Only thing the DUCK has been right up to now. But paradigms change.
    For now, U.S. cash is king.
    The economy is dead in the water.
    Interestingly U.S. dollars, cash, is becoming so valuable that Bank will start charging you to deposit it with them for safe keeping.
    This is not a good formula for getting the economy on a positive footing! Let's let the banks be banks. they got sucked into the huge junk lending scam, now the pendulum has swung insanely the opposite direction.

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