Tauraso Medical Clinic
Home
Environmental Medicine
Target Ailments
Nutritional Related Diseases
Contact Us
Directions to Clinic
Office Practices
Dr. Tauraso's Curriculum Vitae
Dietary Supplements
Adjunctive Healing Modalities
Treatment Modalities
Dr. Tauraso's Blog
Dr. Tauraso's Medical Updates
Order Online

 

 

Welcome

Wednesday, December 12, 2007

THE FEDS DID IT AGAIN!

THE FEDS DID IT AGAIN!

I was sitting in the dining room of my hotel two days ago and told a friend of mine that the Federal Reserve (Fed) was probably going to decrease interest rates by 1/4 point on Tuesday but that they should take the bold step of lowering the rate by ½ to 3/4 point. Knowing the Feds as I do after following their actions for too many years now, I knew they would never take the bold step and do what the market required them to do.

I cannot understand why the members of the Fed are so dumb. The Fed has never been on top of things when Greenspan was in charge and now with Bernanke at the helm. These individuals might be educated men in the conventional way but they completely lack “street smarts” which might give them the ability to deal with the market place.

I must share with you some thing I experienced over 40 years ago. My ex father-in-law owned a garment business in the garment district of New York. He used to quip that he was probably one of the three Christians in the district which was heavily dominated by a generation of Jewish people many of whom immigrated to the US. These people were great business individuals working and surviving in a highly competitive industry. Many of these Jewish people were getting old and looked forward to the day when their sons who the fathers educated at the most prestigious business schools of Harvard, Yale, and Wharton’s. This would allow them to retire and look back on their very productive business career. Many sons took over the successful businesses from their fathers.

But, many of the older fathers had to return several years later to bail their sons out from these previously successful businesses which were now failing. The young educated sons were able to use their calculators, but they could not work successfully in the streets of the garment district. They lacked the “street smarts” I referred to earlier.

As I have watched and studied the Fed over the years, I have noticed they are almost always behind the curve and never proactive. If you really want to send a message to accomplish something in the market, you need to go beyond what the market expects. Then, and only then, will the market make the move you intend. I truly believe we are in the financial mess today with the sub-prime lending market because Bernanke and his ilk moved so rapidly to decrease interest rates continuously and uninterrupted monthly over a period of one plus years that by the time the market reacted to each change it was too late. I have said it before and I will see it again that President Bush is a much smarter and better economist than the members of the Fed board.

What is making the US economy so great in many respects are the tax cuts. This will change if and when the Democrats get elected. I hope the general public realizes this, but they will not. The general public is usually very dumb. I give them credit for nothing. The general public is more interested in what Oprah does that they are not inclined to see the light. Sorry if I sound elitist, but I cannot help it. Quite frequently, my EGO rules. But I believe I am correct on this one.

If you readers are so inclined, review my Blogs over the past 9-10 months and read what I have said about the Fed and determine for yourself whether I am correct or incorrect. My only question is: who is listening?

I am coming to the conclusion that Ron Paul is correct, and that we should abolish the Fed and return to backing up our dollars with something substantial like gold rather than the ink and paper upon which we print more useless dollars.

This is as I see it today here in Panama where the temperature ranges from 78-85 almost every day,

nicola michael c. Tauraso, M.D.
Director, Tauraso Medical Clinic
www.drtauraso.com

Labels: , ,

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home