Archives of “ben bernanke” tag

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Former Fed chairs Yellen and Bernanke give Congress views on Covid 19 in response to the economic crisis

  
  Analysis
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Former Fed chair’s testify on Covid 19 in response economic crisis

Former Fed chair’s Janet Yellen and Ben Bernanke are testifying to Covid 19 and response to economic crisis. There comments are appearing on the Brookings institute blog
  • in many respects this recession is unique
  • forecasting recovery is difficult
  • controlling the spread of the virus must be 1st priority for restoring more normal levels of economic activity
  • members of Congress, local leaders and other policymakers need to do all they can to support testing and contact tracing, medical research and sufficient hospital capacity.
  • They must work to ensure that businesses, schools and public transportation have what they need to operate safely
  • pace of recovery could be slow, uneven
  • the longer the recession last the greater the damage will reflect on household and business balance sheets
  • the depth of the recession may leave scars
  • depending on the course of the virus, some restructuring of the economy may be needed
  • Fed likely to give a for guidance on the lift off
  • the yield curve control possible, not certain
  • the financial system is in much better shape today than it was during the financial crisis
  • new same as measured by Congress are necessary including a comprehensive plan to support medical research, testing, contact tracing and hospital capacity, enhanced unemployment insurance should be extended, and Congress should provide substantial support to state and local governments
The full report can be found HERE

Ben Bernanke bails out Time Magazine

  
Analysis, Economy, Education, LINKS, US Market
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timemagazinegreenspan

WASHINGTON – After naming Ben Bernanke Person of the Year for saving us from the crisis that he helped create, Time magazine sales have “dropped off a cliff,” according to one Time magazine employee, speaking on condition of anonymity.

As a result of the drop-off in demand, Time magazine is now going through a liquidity crisis. Because of this situation, Ben Bernanke has decided to provide Time magazine with the necessary liquidity to stave off bankruptcy. The Fed has added millions of editions of Time to its balance sheet.

“From what we can tell, these Time magazines – especially the edition with Greenspan on the cover – have more intrinsic value than do Treasuries. There is actually stuff to read in them. So our balance sheet isn’t impaired in any way by paying cover-price for these issues,” said Fed Chairman Bernanke. “We also felt it would be best for the economy to take these editions out of circulation, and we are asking the American people to sell their Greenspan editions to the FOMC.”

The preliminary numbers are showing that the Fed, through Open Market Operations, has monetized at least 500,000 copies of the edition with Greenspan on the cover – the last time a Fed Chairman appeared on the cover of the prestigious magazine.

“If necessary, the Fed has the tools it needs to remove any excess liquidity from the markets,” said Bernanke. “We could start by selling off the Jim Bunning baseball cards that we have on our balance sheet.”

Books For Professional Traders

  
  Education
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Yes ,List from our Library 

Note that the literature listed below can easily be found in book stores or via the internet.

TRADING Psychology

The following books and articles target some of the core psychological obstacles that traders face every day and techniques to maximize their trading performance. This is an extremely important part of the reading list, in my opinion.

  • “The Mental Edge: Maximize Your Sports Potential with the Mind-Body Connection” – Kenneth Baum“How Successful People Practice” – James Clear (www.jamesclear.com)
    • I’m a big believer in visualization techniques and the contribution it can make to trading success.  I first used visualization during my years playing hockey.
  • “Zen and the Art of Management” – Financial Times, September 16, 2013
  • “Good To Great” – Jim Collins
    • The book is centered on how companies can go from a position of mediocre to greatness.  Many of the concepts are readily applicable to the trading business and to building yourself into an elite trader.

All the books of Dr. Ari Kiev.:

  • “Trading to Win: The Psychology of Mastering the Markets”
  • “Trading in the Zone: Maximizing Performance with Focus and Discipline”
  • “The Psychology of Risk: Mastering Market Uncertainty”
  • “The Mental Strategies of Top Traders: the Psychological Determinants of Trading Success”
  • “Hedge Fund Masters: How top Hedge Funds Set Goals, Overcome Barriers and Achieve Peak Performance”
  • “Mastering Trading Stress: Strategies for Maximizing Performance”
    • Prior to his passing, I had been organizing a conference with Dr. Kiev.  He revolutionized the hedge fund industry in terms of trader performance

(more…)

Jim Rogers Video Interview – How I See The World Today

  
Analysis, Economy, Education, Video
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Very interesting video interview with Jim Rogers doing a question and answer session with Lew Rockwell and Ludwig von Mises Institute members in Alabama. The video is rather long but well worth your time. Here’s a chronological list of all the subjects Jim Rogers addressed:

  • Protecting yourself with sound currencies and hard assets / real assets
  • Learn from history
  • Rice, Silver, Gold, Farmland, Timberland, Bonds, Paper Money
  • Why he moved to Singapore —> Education + Learning Mandarin
  • Debtor nations vs. creditor nations
  • Conventional wisdom
  • The US going the same way as the UK when it was an Empire
  • Leaving the US and seeking opportunity elsewhere
  • Why children in the 21 st century must learn at least a second language
  • Giving up American citizenship and implications on paying taxes
  • Rare Earths and China
  • Austrian Economics
  • Brazil and its natural resources
  • European Union and the likelihood of EURO disintegration
  • Canada will do better than the US
  • Renminbi might replace the US Dollar as reserve currency
  • Ben Bernanke monetizing debt
  • Fort Knox and the Fed should be audited

Once the video starts playing change the settings to watch in HD quality. Enjoy!



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