1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

Good news: welcome to the first chairwoman of the Federal Reserve.

Discussion in 'BBS Hangout: Debate & Discussion' started by Northside Storm, Sep 15, 2013.

  1. DCkid

    DCkid Member

    Joined:
    Oct 15, 2001
    Messages:
    9,663
    Likes Received:
    2,706
    So you disagree with Bernanke's comments from just two months ago?

    "If we were to tighten (monetary) policy, the economy would tank."
     
  2. Major

    Major Member

    Joined:
    Jun 28, 1999
    Messages:
    41,688
    Likes Received:
    16,224
    Tapering and tightening are two different things. Tapering is reducing bond purchases; tighening is raising interest rates. There's no discussion of tightening anytime soon.
     
  3. DCkid

    DCkid Member

    Joined:
    Oct 15, 2001
    Messages:
    9,663
    Likes Received:
    2,706
    Are you saying reducing bond purchases will have no effect on long-term interest rates? Wasn't that the main point of the bond purchases? :confused:
     
  4. Major

    Major Member

    Joined:
    Jun 28, 1999
    Messages:
    41,688
    Likes Received:
    16,224
    Of course they will, but to a lesser degree - but that's a different policy lever than tightening. What Bernanke said was referring to tightening - he obviously doesn't believe that tapering alone would tank the economy, or he wouldn't be considering it. He's not tightening because he doesn't feel the economy can handle that yet.

    Besides which, he can taper bond purchases because we're borrowing much less, so it doesn't directly affect relative supply / demand as much. I believe the annual deficit has dropped from ~$1 trillion to ~$600 billion, so if you were to reduce $400 billion per year in bond purchases, you actually wouldn't change anything in theory.
     
  5. thumbs

    thumbs Member

    Joined:
    Apr 11, 2002
    Messages:
    10,225
    Likes Received:
    237
    I just can't keep my thoughts off those breasts and the legs and thighs are so juicy.:grin:
     
  6. DCkid

    DCkid Member

    Joined:
    Oct 15, 2001
    Messages:
    9,663
    Likes Received:
    2,706
    I see what you're saying, though it seems like a fine line. Will the markets really distinguish between the two? That's all that really matters.
     
  7. Major

    Major Member

    Joined:
    Jun 28, 1999
    Messages:
    41,688
    Likes Received:
    16,224
    I agree that tapering (and ultimately tightening down the road) is a delicate thing to do correctly. That's one reason I think Yellen is the smart pick, and why Summers would have been a disaster. Yellen has been part of all these meetings that started the bond purchases over the last several years, so she's probably best positioned to know the rationales behind them and the strategy to reduce them.
     
  8. trueroxfan

    trueroxfan Member

    Joined:
    Apr 24, 2008
    Messages:
    4,170
    Likes Received:
    143
    It's good news because she is a woman or because she will be a good Chair?
     
  9. Mr. Clutch

    Mr. Clutch Member

    Joined:
    Nov 8, 2002
    Messages:
    46,550
    Likes Received:
    6,132
    The Democrats stopped Obama from royally screwing up.
     
  10. Northside Storm

    Joined:
    Dec 24, 2007
    Messages:
    11,262
    Likes Received:
    450
    Both.
     
  11. treeman

    treeman Member

    Joined:
    Nov 27, 1999
    Messages:
    7,146
    Likes Received:
    261
    Sorry... Why do we care about what gender the Chairperson or whatever is? If they continue down the current debt-fueled path we're screwed no matter whether the Chairperson has a stick or a snatch.

    Why is everything identity politics with liberals? (rhetorical question)
     
  12. Northside Storm

    Joined:
    Dec 24, 2007
    Messages:
    11,262
    Likes Received:
    450
    Because economics has been a male-dominated field, for better or for worse (often for worse) and because Yellen's advancement is a good sign of the need of inclusiveness and different perspectives in alleviating a host of problems. Much like Mayer is carving a path through traditionally male tech entrepreneurship, Yellen's rise would show young girls that there is hope of obtaining the highest positions in economics, and would therefore encourage 50% of the population to study math and science, in direct contravention to the message that appointing someone who said differences in technical knowledge at the highest levels between different genders was "innate", would have brought. Yellen is direct proof against this.

    it's quite frankly shocking that it has taken so long to come to this historic moment, and some would deny it still.

    But let's not forget that Yellen is eminently qualified to be Fed Chairwoman, and unlike those who snipe at monetary and fiscal policy from a distance, knows what she is talking about, and can help restructure the economy.
     
  13. treeman

    treeman Member

    Joined:
    Nov 27, 1999
    Messages:
    7,146
    Likes Received:
    261
    No. I want to know why it matters that the Fed Chairman has a snatch instead of a stick. You did not explain that.

    You do not get a pass on this. Explain to me exactly how her snatch makes her more qualified than someone with a stick. If you can't do that, then her her gender DOES NOT MATTER.

    You can harp on her qualifications all day long - and I am not saying she isn't qualified - but her gender is NOT one of those qualifications.
     
  14. Northside Storm

    Joined:
    Dec 24, 2007
    Messages:
    11,262
    Likes Received:
    450
    are you just bitter that the first chairwoman of the Federal Reserve will be eminently qualified?

    bet you were one of those people who rained on the parade: first black SC justice, first woman SC justice. that women went from being relegated to the back of society to being powerful policy-makers---how much further until the first woman president?

    Here's why it's worth celebrating again:

    But if that doesn't satisfy you: being female most likely helps her qualifications: from experience, women in economics and math departments are looked down upon, and those that make it are bulldogs. CUE SUMMERS QUOTE. Hats off to Yellen for graduating Yale PHD in economics, at the time, it must have been hell.

    that whole theory about how adversity makes you stronger...

    Here's to believing Yellen's rise will lead to many more women PHDs in economics (something to be celebrated indeed).
     
    #34 Northside Storm, Sep 16, 2013
    Last edited: Sep 16, 2013
  15. Major

    Major Member

    Joined:
    Jun 28, 1999
    Messages:
    41,688
    Likes Received:
    16,224
    Except he never said her gender was a qualification or a reason she would get the job. All he said was that it's great that a qualified woman would be chairperson because it's a great symbol for young girls. You seem to be arguing just for the sake of arguing.
     
  16. Northside Storm

    Joined:
    Dec 24, 2007
    Messages:
    11,262
    Likes Received:
    450
    For the reasons I have listed above, I would be sorely disappointed if this did not come to pass.

    methinks it would be political suicide for Obama to nominate Kohn at this point.

    This thread makes Yellen's rise perhaps more certain than it actually is, but that's sincerely due to my faith that her nomination would be great for the country, and I stand by that certainty. It would take nothing more than a total blind-side nomination to shake that belief.

    and no, it's not because she's solely a woman that it would be good news. She is greatly qualified and would be a great symbol, and a great chairwoman.
     
  17. Brandyon

    Brandyon Member

    Joined:
    Feb 28, 2009
    Messages:
    1,224
    Likes Received:
    83
    There's been considerable evidence in recent years that women actually make better financial advisors than men(1, 2, 3). Popular belief is that they tend to evaluate risk more objectively, while males are more prone to overconfidence & unnecessary risk taking. It's reasonable to believe considering the biological tendencies at play.

    The short term gains of high risk trading are more profitable, so women are often less desirable to employers in the industry. Boom and bust.

    Anyway, I'm glad to hear that Larry Summers won't be heading the FED. The thought of appointing the man who lead the charge for deregulating the derivatives market to help stabilize the economy was something I could only laugh about to keep from going insane.

    I'm causiously optimistic about Janet Yellen. The fact that she didn't go to Harvard is encouraging. However, she'll have to make some significant changes to make any progress in reversing what Greenspan and Bernanke have created/destroyed.
     
  18. treeman

    treeman Member

    Joined:
    Nov 27, 1999
    Messages:
    7,146
    Likes Received:
    261
    Ah, yes, there's the "bigot" card. :rolleyes: Of course it had to be pulled.

    I want to know why being a woman matters at all. If she's qualified, then great. Gender is not a qualification. Why do you think it is?
     
  19. SamFisher

    SamFisher Member

    Joined:
    Apr 14, 2003
    Messages:
    61,921
    Likes Received:
    41,481
    ^please ignore macbeth communing with himself.
     
  20. Major

    Major Member

    Joined:
    Jun 28, 1999
    Messages:
    41,688
    Likes Received:
    16,224
    [​IMG]
     

Share This Page