Just out on the newswires are the following comments from the US Dallas Fed President Fisher:
- Fed duty bound to clean up the mess (wow, that is a shock, seeing as how it was their lack of regulatory environment that lead to the mess i think that is the least they can do!)
- Americans have assumed a defensive crouch (more like they have curled up in a ball and just want it all to stop!)
- This has resulted in a US economy that is in stasis (i thought stasis was what happened to you on science fiction shows when you go into a pod and sleep for hundreds of years!)
- Fed board wont violate basic tenants of Fed sanctity (but it will print money on anything that even closely resembles paper!)
- Inflation not a serious threat for a couple of years (Hmmmmmm…..)
- US Govt has competitive edge over Europe and Japan (glass half full approach i see)
- Fed acquiring tools to short circuit inflation (now this i have to see…the Fed has come up with a way to stop all the money being printed in the US leading to inflation…bring on the Nobel prizes i say!)
Please note the comments above in italics are mine, its a slow news day and i couldn’t help myself.