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Sure Thing

3/27/2015

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Richard Fisher, who spent a decade as the president of the Dallas Fed, can’t predict the future anymore than the rest of us.  While his opinions often differed from that of his peers, we may be lucky at how often he proved wrong.  At one time, he suggested our economy would see a recovery that didn’t so much resemble a “V”, but rather a “?”.   In the explanation of how it resembles a “?”, it comes down to after a quick fix we turn stagnate.

Mr. Fisher reminded us in his many speeches throughout the years that there is no crystal ball.  He often advised to take any economic forecast with “a grain of salt.”  The one thing that was always clear in Mr. Fisher’s speeches was the level of uncertainty that is always at stake in the economy.  “Even the saltiest of helmsmen cannot confidently navigate a ship in a dense fog.” ("Uncertainty Matters", 2013)


Considering the consequences of the Fed’s stimulus, Mr. Fisher believes that waiting to raise rates will cause a downturn in the economy. He just can’t say when that tomorrow will fall.  “No idea. And I hope my concerns, which are only expressed as uncertainties, prove to be sleep lost and nothing more.” (Appelbaum, 2015) 

The Dallas president discussed his opinions against auditing the Fed and inflation risks on the eve of his retirement from the Fed, closing with, “And now, in the spirit of what every signatory to S. 264 worries about, I’d be happy to avoid answering your questions.” ("Suggestions After a Decade at the Fed", 2015)

There has been a lot of talk in recent years regarding auditing the Fed.  The idea of politicians having their hands in the cookie jar is a scary thought.  Transparency via becoming a politicized Central Bank, wouldn’t that be a sure fire way to make the US a third world nation.  Our house and senate often gets us into these messes, imagine for a second them having greater control over monetary policy.  Speeches filled with vagueness over the last decade are more appealing.      

Richard Fisher retired from the Fed on March 19, 2015.  He wasn’t unemployed long, as he has already joined the Board of Directors for Pepsi Co.

Works Cited 
"Suggestions After a Decade at the Fed". (2015, 02 11). Retrieved 03 27, 2015, from Federal Reserve Bank of Dallas: http://www.dallasfed.org/news/speeches/fisher/2015/fs150210.cfm
"Uncertainty Matters". (2013, 10 03). Retrieved 03 26, 2015, from Federal Reserve Bank of Dallas: http://www.dallasfed.org/news/speeches/fisher/2013/fs131003.cfm
Appelbaum, B. (2015, 3 20). Richard Fisher, Often Wrong but Seldom Boring, Leaves the Fed. Retrieved 3 25, 2015, from New York TImes: http://www.nytimes.com/2015/03/21/business/economy/richard-fisher-leave-the-fed.html?_r=0

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Go for Broke

3/13/2015

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Politicians are halfway done dismantling Labor Unions.  Wisconsin just signed on as the 25th right to work state.  As the middle class becomes smaller, we hope the disappearance of Unions doesn’t mean less pay with harsher work conditions going forward.  Governor Walker ducked out the back door to avoid any press conference regarding the bill he made a law.

Walker may have avoided questions due to it being a complete flip of the values that he ran for governor with.  He made a pledge on Wisconsin public radio in April 2012.  "I have no interest in a right-to-work law in this state." Walker continued with, "We're not going to pursue that in the remainder of our term, and we're not going to pursue it in the future. The reason is private-sector unions are my partner in economic development." (Larson, 2015)

He has clarified his comments in 2012 only applied to his first term as governor, and now is a good time to switch.  Walker is gearing up for a 2016 presidential campaign run.  He may not have announced that he’s running, but his sudden shift in values and policies make him a lead contender for the GOP.  The signing of the “right to work” bill was announced with immediate fundraising emails. 

When you’re a politician, there is never a bad time to talk donations, unless it’s on the taxpayers dime.  In May of 2010, a political scam involving the use of a private router led to the conviction of two of Walker’s aids.  The secret router was set up to assist Walker’s campaign staff and state Representative Brett Davis, throughout the workday with political commentary and fundraising.    

We don’t need to look any further than our government to see the how a dismantled Union affects us all.  United we stand divided we fall couldn’t be more clear than it is in the Senate.  Recent attempts to discredit our Commander in Chief have leaders world wide shaking their heads.  It may not lead to immediate repercussions for this United States, but will not do us any favors if we’re led to war.  Our nation’s leaders are at battle with each other in such a way, they’ve proven incapable of running the nation. 

Works Cited 

Larson, L. (2015, 03 11). Scott Walker keeps changing his mind. Retrieved 02 12, 2015, from Business Insider: http://www.businessinsider.com/scott-walker-keeps-changing-his-mind-2015-3

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    Author

    My banter was on current affairs and ran from 2011 - 2016. I currently enjoy writing satire and horror shorts.

    I chose themes to run against each current event to bring some entertainment to my Banters. I began writing the banter in February 2011, and wrote my last in February 2016.

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