Texas_tea
Well-Known Member
You kmow "forward" is a code word for Marxism, socialism, communism!I was going to start a new thread about this I am about to say but I think Ill just say it now.
The new Fed Chairman Janet Yellen is a firm believer in the current fed policies and will probably be even more aggressive than Ben in terms of favoring inflation. (there's a scary thought). What she brings to the table is a more zealous belief in what she calls "forward guidance" which she describes as the fed telling people what it is going to do as a means to accomplish the feds goals in altering the economy. After reading a bit about what this is I have concluded that what she means by forward guidance is lying to people as a means of manipulating the economy. You are all forwarned that when the fed says they will continue QE they might or might not do just that.
Read a few paragraphs near the end of this article and especially read between the lines. Sentences like "Transparency of the central bank is an abiding virtue in the conduct of policy. Full disclosure of its balance sheet and operations is essential to the Federal Reserve's democratic legitimacy. But transparency in communications about future policy is not a virtue unto itself. The highest virtue is getting policy right." (bold added)
p.s. while americans always ignored the message that obama was a socialist and in fact that message created deaf ears the time may finally be right for phrases like "lying marxists" to take root. Obama will be gone soon but there is a wave of marxists waiting to take his place and we must must must re-establish in the american mind that marxism is evil.