The panel discussed the situation in Syria (as well as the G8 discussions on it), the economy and the Federal Reserve's role in it, and the surveillance of the citizenry.
Pat sounds like a man building a case for involvement.
But then he immediately says this. This is a man that understands geopolitics. Winning is not always about using war, sometimes the biggest winner is the one who stays out of a conflict entirely.
Eleanor hit the nail on the head. Things need to change in Europe, but those changes do not need to be coupled up with austerity.
A nice recap on the situation between Obama and Bernanke.
This is an economy that has been supported artificially by the Fed. It should be interesting to see what all this additional money going to do to inflation. So far they managed to keep it out of the money supply.
Unfortunately, John here is correct. That $5 trillion that was pumped into the economy (see banks) is money you and I did not get a hold of. So as the supply of money grew, but our share of it decreased, most working people are poorer for it. Meanwhile the banks took the money the Fed threw at them and then parked it in treasuries so that we could pay them interest for the opportunity of being poorer. What Bernanke should have done was to force any bank that received these funds to pump them into the economy. We essentially have a shadow money supply right now and the big question is what will happen to it?
Forced predictions this week.
|Panelist||Prediction||Correct||Wrong||Partially Right||Not Yet Proven||Percent Correct|
|Pat Buchanan||Dream on if you think that the unemployment rate will drop to 7 percent by December 31.||7||5||4||16||56.25|
|John McLaughlin||The unemployment will drop to 7 percent by December 31.||7||5||7||21||55.26|
|Eleanor Clift||The unemployment will drop to 7 percent by next spring.||9||7||4||18||55|
|Mort Zuckerman||The unemployment will not drop to 7 percent by December 31.||5||5||4||23||50|
|Susan Ferrechio||The unemployment will not drop to 7 percent by December 31.||4||4||2||6||50|