Tuesday
Apr162013
Fed Prez: "QE Is Like Ritalin, You Just Can't Overprescribe"
Fed President Richard Fisher on the Bernanke Doctrine.
Start watching at 1-minute mark. Dallas Federal Reserve President and CEO Richard Fisher discusses Japan, Bernanke, QE, the stock market rally, housing, and his plan to break up the too big to fail banks.
Classic line on the difference between the U.S. and Japan.
"We breed here in America."
Fisher is entertaining as usual. Here are some of the quotes.
- The Bernanke doctrine is not perfect.
- There is no QEinfinity. It doesn't go on forever.
- I supported the first round of QE and nothing since.
- We're not going to do something crazy like take the balance sheet to $5 trillion.
- There are limits to Fed policy. We just have to figure out what those limits are.
- QE is like ritalin or adderall, you just can't overprescribe.
- QE can't go on forever because you will kill the patient.
And we save the best, or at least most ridiculous, for last:
"All central bankers try to do the same thing -- which is to improve the welfare of their fellow citizens."
Image by William Banzai7...
Reader Comments (4)
And his line about central bankers helping their fellow citizens actually makes sense if by fellow citizens he means "banks" (and you can sort of see him chuckle slightly as he says it).
I listened until the 4:50 mark where the speaker makes his quote about Ritalin, and how too much can "Kill the patient"
I then reread your teaser headline that you used to draw people to this video and noticed it said the opposite of what the interviewee said: "Fed Prez: "QE Is Like Ritalin, You Just Can't Overprescribe"
My question is whether you were mistaken or trying to mislead in order to capture attention. Did I quit listening to soon or did you twist what he said?
I was under the impression that I would get misleading information from authority figures and accurate info from unbiased sources and now I find myself questioning The Daily Bail's credibility
Here's how it works.
I watch a video and take notes and then quickly try to get the entire story posted so I can move on to the next. I'm not even sure what your complaint is. Fisher said QE was like Ritalin or Adderrall, but you had to be careful not to over-prescribe, or you could kill the patient (the economy). Watch the whole clip next time.