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"Why the Outrage Over the Cuts at the Washington Post Is So Annoying" "New Poll Crushes Dem, Media Narrative: Americans Demand Mass Deportations, Back ICE Overwhelmingly" "Democratic Overreach on Immigration Beckons" How to negotiate to buy a car Trump warns of a 'massive Armada' headed towards Iran End Times Prophecy: Trump Says Board of Peace Will Override Every Government & Law – 10 Kings Rising Maine's legendary 'Lobster Lady' dies after working until she was 103 and waking up at 3am every day Hannity Says Immigration Raids at Home Depot Are Not ‘A Good Idea’ TREASON: Their PRIVATE CHAT just got LEAKED. "Homan Plans to Defy Spanberger After ‘Bond Villain’ Blocks ICE Cooperation in VA: ‘Not Going to Stop’" "DemocRATZ Radical Left-Wing Vision for Virginia" "Tim Walz Wants the Worst" Border Patrol Agents SMASH Window and Drag Man from Car in Minnesota Chaos "Dear White Liberals: Blacks and Hispanics Want No Part of Your Anti-ICE Protests" "The Silliest Venezuela Take You Will Read Today" Michael Reagan, Son of Ronald Reagan, Dies at 80 Patel: "Minnesota Fraud Probes 'Buried' Under Biden" "There’s a Word for the West’s Appeasement of Militant Islam" "The Bondi Beach Jihad: Sharia Supremacism and Jew Hatred, Again" "This Is How We Win a New Cold War With China" "How Europe Fell Behind" "The Epstein Conspiracy in Plain Sight" Saint Nicholas The Real St. Nick Will Atheists in China Starve Due to No Fish to Eat? A Thirteen State Solution for the Holy Land? US Sends new Missle to a Pacific ally, angering China and Russia Moscow and Peoking DeaTh noTice ... Freerepublic --- lasT Monday JR died "‘We Are Not the Crazy Ones’: AOC Protests Too Much" "Rep. Comer to Newsmax: No Evidence Biden Approved Autopen Use" "Donald Trump Has Broken the Progressive Ratchet" "America Must Slash Red Tape to Make Nuclear Power Great Again!!" "Why the DemocRATZ Activist Class Couldn’t Celebrate the Cease-Fire They Demanded" Antifa Calls for CIVIL WAR! British Police Make an Arrest...of a White Child Fishing in the Thames "Sanctuary" Horde ASSAULTS Chicago... ELITE Marines SMASH Illegals Without Mercy Trump hosts roundtable on ANTIFA What's happening in Britain. Is happening in Ireland. The whole of Western Europe. "The One About the Illegal Immigrant School Superintendent" CouldnÂ’t believe he let me pet him at the end (Rhino) Cops Go HANDS ON For Speaking At Meeting! POWERFUL: Charlie Kirk's final speech delivered in South Korea 9/6/25 2026 in Bible Prophecy 2.4 Billion exposed to excessive heat 🔴 LIVE CHICAGO PORTLAND ICE IMMIGRATION DETENTION CENTER 24/7 PROTEST 9/28/2025 Young Conservative Proves Leftist Protesters Wrong England is on the Brink of Civil War! Charlie Kirk Shocks Florida State University With The TRUTH IRL Confronting Protesters Outside UN Trump Meeting The UK Revolution Has Started... Brit's Want Their Country Back Inside Paris Dangerous ANTIFA Riots Status: Not Logged In; Sign In Business See other Business Articles Title: FOMC Minutes: Idiots On Display (Save Three) Source: [None] URL Source: http://market-ticker.org/ Published: Aug 30, 2011 Author: Karl Denninger Post Date: 2011-08-30 18:33:12 by Capitalist Eric Keywords: None Views: 255 Nuts. Simply nuts. The information reviewed at the August 9 meeting indicated that the pace of the economic recovery remained slow in recent months and that labor market conditions continued to be weak. In addition, revised data for 2008 through 2010 from the Bureau of Economic analysis indicated that the recent recession was deeper than previously thought and that the level of real gross domestic product (GDP) had not yet attained its pre-recession peak by the second quarter of 2011. Translation: Nothing we did was effective. Over the intermeeting period, U.S. financial markets were strongly influenced by developments regarding the fiscal situations in the United States and in Europe and by generally weaker-than-expected readings on economic activity. Throughout the period, waxing and waning concerns about the sovereign debt of peripheral euro-area countries appeared to have an effect on investor appetite for risk, leading to volatility in many asset markets. Late in the period, investor focus appeared to turn to the U.S. debt ceiling and the potential for delayed debt service payments by the Treasury Department, the possibility of a downgrade of U.S. sovereign debt, and the prospects for significant long-term fiscal consolidation. Liquidity and funding in money markets deteriorated in the last week of July, and interest rates on a number of short-term funding instruments increased markedly. The strains in these markets eased after legislation to raise the debt ceiling and to cut the federal budget deficit was signed into law on August 2. U.S. equity prices fell considerably in the last week of July and the first week of August, reportedly reflecting recent weaker-than-expected economic data releases, and they declined further after the August 5 announcement by Standard & Poor’s of its downgrade of long-term U.S. sovereign debt. Fancy that. The drunk is a poor automobile insurance risk and he becomes a really bad one after he guzzles another bottle of whiskey! Conditions in consumer credit markets generally continued to improve. Total consumer credit expanded at a moderate rate in May as both nonrevolving and revolving credit posted gains. I heard a rumor that the CME is planning to list boiled rope futures for the time when our youth figure out what's been done to them with college loans. Reports from business contacts suggested that depressed business confidence as well as uncertainty regarding the economic outlook, regulatory policy, and fiscal policy continued to restrain hiring and also capital investment. No, really? I will repeat: I'm not starting a new business until the crap - including the FOMC's zero interest garbage that has destroyed capital formation - ends. You want me to take risk? Fine; I'll do it only in places where I can be "out" in seconds. I won't set up a business and employ people. And you, Bernanke and the rest of the FOMC, are directly responsible for this. "Creative Destruction" would have normally led me to open a new company by now. But the FOMC stopped that and by doing so it has destroyed not only capital formation but has also eviscerated the desire of myself and others to take long-dated risk - and starting a business is inherently such an endeavor. Go ahead and read the rest if you want. There are enough worms in there for whatever position on QE3 you'd like to take, and square well with Evans' view that "The FOMC is not responsible for commodity inflation" - while gold spiked $40 literally as he said that this morning on CNBS. Yeah, whatever. Every time that clown opens his mouth I am reminded why I have for more than a decade, and will continue to, maintain a blacklist of so-called "higher educational institutions" from which I will instantly bin resumes, should I ever decide to again open a company that employs people. 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