The Fed! The Fed! The Fed! - 09/17/12

The Wake Up Call show

Summary: An extended quote from Doug Nolan’s Credit Bubble Bulletin. He talks about how speculative financial leveraging creates an unlimited supply of credit and marketplace liquidity. Nolan gives a brief résumé of recent Fed blunders together with his ‘take’ on Bernanke’s decision last Thursday. None other than the Congressional Budget Office has warned that the U.S. could sink into recession with a loss of 2,000,000 jobs and the ratings firm of Egan-Jones has downgraded U.S. debt from AA to AA-. Another delightful rant from Nigel Farage. The price of gold versus the commodity market in general. The Empire Manufacturing Index confirms the biggest drop since records began