Couldn't believe the question from Sen Shelby to Ben, are the $3 trillion of securities the Fed bought performing. Since they can only buy fed govt debt, I would hope so. The fact that he didn't know that, and he is on the Finance committee, we are led by a bunch of idiots, and the Senate is supposed to be a cut above the House. We will never get the govt to move ahead of the curve on solving the debt issues, unfortunately, they will be dealt with in the markets, with crises, hope it's several over time vs a one blow out.
The problem is as I see it, our leaders are a reflection of our culture, that's the scary reality. Did Shelby think Ben was buying gold or houses or oil or pork bellies, or Apple stock.... Listening to those guys makes me want to move somewhere else, but we are probably better than the rest of the globe. We have survived idiots in govt for centuries as long as the markets are allowed to remain independent, but you have to wonder about the Feds actions. I don't think Ben has a clue about how he unwinds the balance sheet. Buy farmland and energy, that's about all i can think to do.