From the horses mouth: Alan heute und Kommentar

verfasst von dottore, 19.07.2001, 00:01

Monetary policy this year has confronted an economy that slowed sharply late last year and has
remained weak this year, following an extraordinary period of buoyant expansion.

#Warum hat er während der Buyoance geschwiegen? Sein"irrational exuberance" war alles und das war 1996.

By aggressively easing the stance of monetary policy, the Federal Reserve has moved to support
demand and, we trust, help lay the groundwork for the economy to achieve maximum sustainable
growth.

#Das alte Larifari.

Our accelerated action reflected the pronounced downshift in economic activity, which
was accentuated by the especially prompt and synchronous adjustment of production by
businesses utilizing the faster flow of information coming from the adoption of new technologies.

#Variante. Endlich hat er Hayek gelesen, desse zentrales Anliegen die Verteilung von Informationen für den Markt war.

(...)

In addition to the more accommodative stance of monetary policy, demand should be assisted
going forward by the effects of the tax cut,

#Quatsch. Das Geld gibt immer jemand aus - entweder der Bürger oder der Staat. Nirgends bleibt was liegen.

by falling energy costs,

#Quatsch, da das Geld der Verbraucher so oder so ausgegeben würde. Entweder, um mehr Benzin zu kaufen und dann weniger Hot Dogs oder vice versa.

(...)

But the uncertainties surrounding the current economic situation are considerable, and, until we see
more concrete evidence that the adjustments of inventories and capital spending are well along, the
risks would seem to remain mostly tilted toward weakness in the economy. Still, the FOMC opted
for a smaller policy move at our last meeting because <font color="FF0000">we recognized</font> that the effects of policy
actions are felt with a lag,

#So was erkennt("recognized") die Fed erst jetzt, dass es in der Wirtschaft time-lags gibt. ZUM LACHEN! Habe ich schon 1960 im Proseminar gelernt.

(...)

Despite the recent economic slowdown, the past decade has been extraordinary for the American
economy. The synergies

#Aaah, erstens vergangen und zweitens schon wieder Synergien. Kennen wir von DaimlerChrysler.

(...) Und jetzt kommt das"Lifting of..."

...equity prices, which in turn contributed to a substantial pickup in household spending on a broad
range of goods and services, especially on new homes and durable goods. This increase in
spending by both households and businesses exceeded even the enhanced rise in real household
incomes and business earnings. The evident attractiveness of investment opportunities in the United
States induced substantial inflows of funds from abroad,

#Klar, Alan, und wie neu!

raising the dollar's exchange rate while
financing a growing portion of domestic spending.

(...)

Hence, a temporary glut in these industries
and falling short-term prospective rates of return were inevitable at some point.

#Ja, nur vorübergehend, was denn sonst?

Moreover, weakness emerged more recently among our trading partners in Europe, Asia, and
Latin America. The interaction of slowdowns in a number of countries simultaneously has
magnified the softening each of the individual economies would have experienced on its own.

#Und damit ist nun aber Schluss! Sonst zöge jeder jeden in die Tiefe...

<font color="FF0000">At some point, inventory liquidation will come to an end, and its termination will spur production
and incomes. </font>

#Tja, at WHAT point? Was, if at NO point?

In addition, a deterioration in sales, profitability, and cash flow

#Herz, was willst Du mehr?

Eventually, the high-tech correction will abate, and these industries will reestablish themselves as a
solidly expanding, though less frenetic, part of our economy.

#Solide ist immer wieder gut.

<font color="FF0000">Of course, investment spending ultimately depends on the strength of consumer demand for goods
and services. </font>

#Wer hätte DAS gedacht.

While this litany of risks should not be downplayed,

#Litanei? Zeigt tiefen Glauben...

By summer of last year,

#War hier im Bord schon vorher bekannt.

It was well into autumn, however, before one could be confident that the growth of
aggregate demand had softened

#Da hatten die Shortiers den Exzessören schon längst die erste Vollrasur verpasst!

Forecasts of inflation, however, like all economic forecasts, do not have an enviable record.

#Doll, der Mann, er sagts auch noch ganz offen.

(...)

Rest Larifari über die menschliche Natur, die man eh nicht ändern könne, usw.

Eine der schwächsten Reden des"Magiers" überhaupt.

Gruß

d.

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gesamter Thread:

• From the horses mouth: Alan heute und Kommentar - dottore, 19.07.2001, 00:01
  • Re: Da Capo, nicht ganz so rot... - dottore, 19.07.2001, 00:03