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like to see paul volcker but you know. just my quantitative easing ben. well in germany they're also having a very difficult time responding to this madness in the central banks around the world of course yen divider and then he called this bond an asset buying he called it what he called it the devil's work well germany is gold standard this is a report by do it's a bank cold gold adjusting zero they say we are in a time that is quote zero for growth yield velocity and confidence. we believe that there are nearly zero real options available to global policy makers the world needs growth and is willing to go to extraordinary lengths to get it the patients dead you know those doctor shows are there doing part massage and then the doctor says there it go it is dead and that's just a global economy it's dead it died it's in a coma dissolving it's japan but now global banks are completely comatose policymakers are smoking crack the wall street bankers are high on meth amphetamine they they're completely. have entered into a period of utter and social experime
like to see paul volcker but you know. just my quantitative easing ben. well in germany they're also having a very difficult time responding to this madness in the central banks around the world of course yen divider and then he called this bond an asset buying he called it what he called it the devil's work well germany is gold standard this is a report by do it's a bank cold gold adjusting zero they say we are in a time that is quote zero for growth yield velocity and confidence. we believe...
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like to see paul volcker but. to.
like to see paul volcker but. to.
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paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the u.s. well wire federal reserve bank which is the lender of last resort responsible for taking the post all the way when the party gets too rocked is not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk bond that these investment banks that used to destroy the economy they'll take in their buyer and very garbage bond out there this was to be the buyer of first resort just went through the lender of last resort i think completely screwed this thing up they got it all backwards and paul volcker of course back in the seventy's early eighty's you took interest rates up to sixteen percent to squeeze out these these these these no good mix well to cover out all of this fraud max remember at the beginning of this crisis we were told it's a liquidity crisis.
paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the u.s. well wire federal reserve bank which is the lender of last resort responsible for taking the post all the way when the party gets too rocked is not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk...
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the lender of last resort think completely screwed this thing up they got it all backwards and paul volcker of course back in the seventy's early eighty's you took interest rates up to sixteen percent to squeeze out these these these these no good mix well to cover out all of this fraud max remember at the beginning of this crisis we were told it's a liquidity crisis it's a little quick to be crisis if we only had more cash in the system all would be fine right well he said there is so much liquidity in the market the adding more is not going to change the economy that does nothing to do to create wealth right because the whole idea of a free market capitalist economy is that it goes through booms and busts you want the booms and busts you want to have the market figure out which of the winners and which are the losers and you go through these cycles that if you don't have the cycles what you have is one perpetual all mom not news guru just shut down the fed because they do more harm than good basically. well he said it was the most extreme easing of monetary policy he could recall and that
the lender of last resort think completely screwed this thing up they got it all backwards and paul volcker of course back in the seventy's early eighty's you took interest rates up to sixteen percent to squeeze out these these these these no good mix well to cover out all of this fraud max remember at the beginning of this crisis we were told it's a liquidity crisis it's a little quick to be crisis if we only had more cash in the system all would be fine right well he said there is so much...
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paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the u.s. well why i am a federal reserve bank which is the lender of last resort responsible for taking the post all the way when the bharti gets to brought this not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk bond that these investment banks that used to destroy the economy they'll take in their buyer and very garbage bond out there because most of them.
paul volcker the former federal reserve chairman credited with taming the inflationary threat of the one nine hundred seventy s. has warned that further quantitative easing will fail to prepare economies in europe and the u.s. well why i am a federal reserve bank which is the lender of last resort responsible for taking the post all the way when the bharti gets to brought this not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece...
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well it could account for paul volcker saying it's extreme monetary policy or deutsche bank saying it's extraordinary i mean these are words that you often associate with people running around miami in the police say it was extraordinary we've never seen somebody with such extreme psychosis it's a low speed car chase remember the o.j. simpson they were going in the white bronco like twenty miles an hour best a global economy there is a there is ben bernanke you talking in there everyone is like a slow speed car chase drone of you know boeing this guy ben bernanke who all you also say is. i'm not sure exactly what i'm talking about except that i'm i'm convinced that printing more money is the answer and so he just throws it out the windows and people go well you know oh yeah i can use. to collateralize one next job placement yeah it's a slow speed car chase but because as you say he's on bath salts he's injected bath salts into the banking system into the monetary system he thinks he's going like five hundred miles per hour like well going so fast. he's slowly crashing. out of me well do
well it could account for paul volcker saying it's extreme monetary policy or deutsche bank saying it's extraordinary i mean these are words that you often associate with people running around miami in the police say it was extraordinary we've never seen somebody with such extreme psychosis it's a low speed car chase remember the o.j. simpson they were going in the white bronco like twenty miles an hour best a global economy there is a there is ben bernanke you talking in there everyone is like...
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Sep 16, 2012
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i think this was the most significant step taking by the fed since paul volcker promised to break the back of inflation in 1979 with a 20% prime. it in effect, ben bernanke and the fed promised to buy mortgages until the cow comes home and when do cows come home? in this case, in the early evening when the economy is generating enough jobs to lower unemployment. perhaps to 7% or lower. so until then, the fed will buy 40 billion of mortgages a month and maintain short rates close to zero and hope to rejuvenate the economy via lower mortgage rates and higher home prices. >> now, of course, the market's loved it. you know, the stock market soared as soon as we heard the news on thursday. another big rally on friday. but what is the effectiveness of this? how do you see this working and actually moving the needle in terms of job creation, in terms of economic growth, bill? >> increasingly ineffective. this will be qe3. we've had 1, it began in november of 2008 and qe2, then the twist. increasing increasingly, these programs have been less and less effective because the price of money or t
i think this was the most significant step taking by the fed since paul volcker promised to break the back of inflation in 1979 with a 20% prime. it in effect, ben bernanke and the fed promised to buy mortgages until the cow comes home and when do cows come home? in this case, in the early evening when the economy is generating enough jobs to lower unemployment. perhaps to 7% or lower. so until then, the fed will buy 40 billion of mortgages a month and maintain short rates close to zero and...
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Sep 14, 2012
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it's like the absolute reversal of what paul volcker did over 30 years ago to fight inflation. if you are going to do that you know as well as i do, the old axiom, don't fight the fed. so before the dollar collapses, you got to stay in the stock market, right? >> well, you dpoop and if you look at what's happening with all the markets, they're confirming that we've got a real rally here. you not only have breakout in the market on volume but you still have the confirmation from the transports, they rally, the russell 20000 showed the risk was on. commodities are moving, precious metals, all these markets are confirming the move. this rally may be ephemeral because pretty soon we'll be focusing on the election. if it appears that president obama is going to win, we've got a very serious problem with the fiscal cliff. and i think stocks will soon focus on that. but for now, this is a tradeable rally and a real rally. >> ron, pleat go back to you. bank stocks were actually the leaders for the week. very interesting, liquidity works. and i think there's some ecb liquidity that will
it's like the absolute reversal of what paul volcker did over 30 years ago to fight inflation. if you are going to do that you know as well as i do, the old axiom, don't fight the fed. so before the dollar collapses, you got to stay in the stock market, right? >> well, you dpoop and if you look at what's happening with all the markets, they're confirming that we've got a real rally here. you not only have breakout in the market on volume but you still have the confirmation from the...
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casually act according to their remit we saw this on our paul volcker but under greenspan and bernanke either they've spent politicized they're playing political favorites and they're absolutely making a very bad economy much worse anyway reggie middleton we're out of time thanks so much for being on the kaiser report very welcome all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guests reggie middleton a boom bust blog dot com it going to send me an e-mail please do so at kaiser report on r t t v dot ru until next time that guys are saying.
casually act according to their remit we saw this on our paul volcker but under greenspan and bernanke either they've spent politicized they're playing political favorites and they're absolutely making a very bad economy much worse anyway reggie middleton we're out of time thanks so much for being on the kaiser report very welcome all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guests reggie middleton a boom bust blog dot...
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rightest are just bernanke it goes all the way back but i mean printing his particularly crazy i mean paul volcker the other day you know who is fed chairman the best public best chairman we ever had a question bernanke is policy is you know why you paint twenty five basis points on bank process when the fed when you're worried about lending by the banks or the reason is to give the banking system a revenue flow with public expense with us that's the reason so so how can we how can we do this and what do you advocate do you advocate and in the fed tomorrow and do you think that that would cause kind of a massive depression where the state could potentially get more control seize more control i mean how can we wean ourselves off of this very i mean just on yeah i have no perfect foresight here but you know the thing is the real working under the current system is an eternity of stagnation i mean the us i mean we're suffering terribly right now i mean so if we if we bring and young people are not getting jobs and we're seeing middle class incomes being pummelled we can't save money anymore and make
rightest are just bernanke it goes all the way back but i mean printing his particularly crazy i mean paul volcker the other day you know who is fed chairman the best public best chairman we ever had a question bernanke is policy is you know why you paint twenty five basis points on bank process when the fed when you're worried about lending by the banks or the reason is to give the banking system a revenue flow with public expense with us that's the reason so so how can we how can we do this...
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well right there's a central banks at some casual act according to their remit we saw this on our paul volcker but under greenspan of bernanke in there they've spent politicized they're playing political favorites and they're absolutely making a very bad economy much worse anyway reggie middleton we're out of time thanks so much for being on the kaiser report very welcome all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guests reggie middleton a boom bust blog. dot com it going to send me an email please do so at kaiser report on r t t v dot ru until next time next guys are saying by a. morning news today violence is once again flared up. and these are the images from seeing from the streets of canada. shining corporations to rule the day. and. dates in believe me oh just a one to two execution date isn't enough for anybody to go through one life. you know more than fifty percent of the people who are if you didn't texas are not. why you know living on death row is not a. this is not you know we execute our convicted capita
well right there's a central banks at some casual act according to their remit we saw this on our paul volcker but under greenspan of bernanke in there they've spent politicized they're playing political favorites and they're absolutely making a very bad economy much worse anyway reggie middleton we're out of time thanks so much for being on the kaiser report very welcome all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my...
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the right there's a central banks at some casual act according to their remit we saw this on our paul volcker but under greenspan of bernanke either they've spent politicized they're playing political favorites and they're absolutely making a very bad economy much worse anyway reggie middleton we're out of time thanks so much for being on the kaiser report very welcome all right that's going to do it for this edition of the kaiser report with mate max kaiser and stacy herbert our thank my guests reggie middleton a boom bust blog. dot com is going to send me an email please do so at kaiser report on r t t v dot are you. saying bio. dates in believe me. just a one to two execution date is enough for anybody to go through one life to. know more than fifty percent of the people who are if you didn't texas or not. you know you've been on death row it's not in. this scenario we execute our convicted capital murder we have the highest execution rate in america we're not afraid to do it we do it well this becomes a point when death becomes. our ever new hope. i would get a letter your dad is due to b
the right there's a central banks at some casual act according to their remit we saw this on our paul volcker but under greenspan of bernanke either they've spent politicized they're playing political favorites and they're absolutely making a very bad economy much worse anyway reggie middleton we're out of time thanks so much for being on the kaiser report very welcome all right that's going to do it for this edition of the kaiser report with mate max kaiser and stacy herbert our thank my...
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i have to think that the big thing the next president is worth have to do is make a call to paul volckerhe big question that is being left unanswered is how do they unwind all this? what happens when the i have to go back to the real world? >> is difficult. another question is how do they know that their policies are successful and when they have failed? when they are pumping out all this money. gdp growth rate is slow. they might say that this is not working and why don't we just stop. but they haven't. >> that is my question, peter. what are you hearing about what economists are saying about the likely impact of unwinding all the stimulus. mr. john taylor said that were in for a big round of inflation. >> it is very risky. it could cause inflation. it could disrupt financial markets. ben bernanke talked about that in his jackson will speech and he talked about it again today that there are risks to all of this. but he says that all of these risks are manageable and that the price is worth the price. under the mandate, to get unemployment down, they have to keep going. they have to keep
i have to think that the big thing the next president is worth have to do is make a call to paul volckerhe big question that is being left unanswered is how do they unwind all this? what happens when the i have to go back to the real world? >> is difficult. another question is how do they know that their policies are successful and when they have failed? when they are pumping out all this money. gdp growth rate is slow. they might say that this is not working and why don't we just stop....
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09/12
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but when we see goal at $2,500 the market will speak up and paul volcker will be front and center on the cover of the newspaper. >>neil: and i will be like, 112 years old. >> back to this. i was making regrets on the question. >> even the tone. ♪ [ female announcer ] life is full of little tests, but bounty basic can handle them. in this lab demo, bounty basic is stronger than the leading bargain brand. everyday life. bring it with affordably priced bounty basic. droid does. and does it launch apps by voice while learning your voice ? launch cab4me. droid does. keep left at the fork. does it do turn-by-turn navigation ? droid does. with verizon, america's largest 4g lte network, and motorola, droid does. get $100 off select motorola 4g lte smartphones like the droid razr. (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you can send money directly to anyone's checking account. i guess he's a kicker... again, again! oh, no you don't! take a step forward and chase what matters. >>neil: now the drill before the grill, ma
but when we see goal at $2,500 the market will speak up and paul volcker will be front and center on the cover of the newspaper. >>neil: and i will be like, 112 years old. >> back to this. i was making regrets on the question. >> even the tone. ♪ [ female announcer ] life is full of little tests, but bounty basic can handle them. in this lab demo, bounty basic is stronger than the leading bargain brand. everyday life. bring it with affordably priced bounty basic. droid does....
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Sep 3, 2012
09/12
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and economics at new york university's school's stern school of business recounts the life of paul volcker the triumph of persistence. and strom thurmond's america, a history for besser at emory university chronicles the life and real of the late republican senator from south carolina. william chase examines the personal relationship between bill and hillary clinton and the impact both have had on american politics in the book bill and
and economics at new york university's school's stern school of business recounts the life of paul volcker the triumph of persistence. and strom thurmond's america, a history for besser at emory university chronicles the life and real of the late republican senator from south carolina. william chase examines the personal relationship between bill and hillary clinton and the impact both have had on american politics in the book bill and
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Sep 4, 2012
09/12
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paul volcker dain, thompson's koski and others. they didn't know at that point whether they were taking home the infection and their children, families, but they stood their ground and began to treat the sick and the ailing as if they were children that we were part of the same cisco family. and that in essence is a san francisco values values is all about. we take care of our own. when the rest of the country with rejecting h. patients putting on airplanes to be flown to san francisco in their dying days, san francisco to them in and took care of them. so we take care of our own. that is the value here. one of the key people who did that, going back to the 1960s and i'm very glad if you're with us today, dr. david smith who was the brave young doctor back in the 1960s when they were not treating the young who were on the streets, the runaways swarming into san francisco in the summer of love of 1967, st. mary's hospital and the hate to not treat young people who are having trouble overdoses, that the haight-ashbury clinic under dr
paul volcker dain, thompson's koski and others. they didn't know at that point whether they were taking home the infection and their children, families, but they stood their ground and began to treat the sick and the ailing as if they were children that we were part of the same cisco family. and that in essence is a san francisco values values is all about. we take care of our own. when the rest of the country with rejecting h. patients putting on airplanes to be flown to san francisco in their...
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Sep 18, 2012
09/12
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>> well, we've seen a downturn in long-term mortgage markets ever since rates, ever since paul volcker's been 30 years of down trend. if this -- this could be at a record low, kind of hitting zero almost. real rates on mortgages are practically at zero now. so this could be a major turning point. i just don't see calling it because i'd like to see more consistency in the evidence. you know, we have a weakness, the gdp numbers are down, you know, numbers, we see europe threatening, we see asia slowing. so it's just too mixed to call this as a major turning point. >> i read a paper that you recently wrote that the title being the narrative of global weakening. you asked the question if we're facing a long global slump or possibly even a depression. why don't you answer that now? >> yeah, i wasn't predicting a depression. but, you know, the great depression hung on longer than. we have the same interest, we have lower interest rates than the great depression. but we get into this economy where there doesn't seem to be a generic opportunity. we have massive unemployment. and it discourages
>> well, we've seen a downturn in long-term mortgage markets ever since rates, ever since paul volcker's been 30 years of down trend. if this -- this could be at a record low, kind of hitting zero almost. real rates on mortgages are practically at zero now. so this could be a major turning point. i just don't see calling it because i'd like to see more consistency in the evidence. you know, we have a weakness, the gdp numbers are down, you know, numbers, we see europe threatening, we see...
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Sep 20, 2012
09/12
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for 30 years, since bernanke -- since paul volcker was in, and now you're at bernanke, there's 30 years in between the two, interest rates peaked under volcker at the 18%, 19% level. now you're at, like, nothingness. so it seems to me that for 30 years, it was hard to buy bonds and lose money. and that's what people have been conditioned to believe. the last decade was terrible for them in the stock market. so they've rushed to bonds. bonds are overrun. and you're seeing this week, last night there were statistics that the -- that it's hard for companies to get an ipo out the door, but they're selling bonds like there's no tomorrow. now, at some point this is going to reverse. it should have reversed already. but i don't think that the fed knows what to do. they've started down this road and it's like, oh, boy, now what do we do? we're out. we've jumped. our parachute is open but we don't know what to do. they keep postponing when they're going to reverse it. and last friday, they told us now not until 2015. so bonds should have been dangerous already. but they haven't been. now they've
for 30 years, since bernanke -- since paul volcker was in, and now you're at bernanke, there's 30 years in between the two, interest rates peaked under volcker at the 18%, 19% level. now you're at, like, nothingness. so it seems to me that for 30 years, it was hard to buy bonds and lose money. and that's what people have been conditioned to believe. the last decade was terrible for them in the stock market. so they've rushed to bonds. bonds are overrun. and you're seeing this week, last night...
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Sep 26, 2012
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. >> well, the question i have -- first of all, i'm not sure you're right because paul volcker was appointed fed chair by jimmy carter and he began squeezing the money supply under carter, i know about it, i was there. >> but the recession started in '81. >> you call the misery index. obviously, the strongest element in the misery index right now is the unemployment rate, up around 8.3. inflation doesn't help getting rid of it politically if it isn't around. nobody gives you credit for not having inflation. they give you anger if you have -- >> but let me remind you, every right wing economist was suggesting hyperinflation by now because of our debt. we have a problem of deflation. but i'm just saying, if -- people don't accept that but they accept he's done the best he can. and what's interesting in the polls is that they know it's tough, but they think he's got the better plan to fix it. >> let's talk about the two things we argue about on this show. let's start with immigration. how do you get through a really good immigration bill that has both progressivity in terms of letting people co
. >> well, the question i have -- first of all, i'm not sure you're right because paul volcker was appointed fed chair by jimmy carter and he began squeezing the money supply under carter, i know about it, i was there. >> but the recession started in '81. >> you call the misery index. obviously, the strongest element in the misery index right now is the unemployment rate, up around 8.3. inflation doesn't help getting rid of it politically if it isn't around. nobody gives you...
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Sep 11, 2012
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it collapsed once margaret thatcher and ronald reagan and paul volcker got in. what they need is another big spender. they're going to get it. >> gentlemen, thank you for your thoughts on this momentous week for the markets. we're heading toward the close. markets coming off their highs of the day with 50 minutes left. the dow is up 74 points. >> don't go anywhere. it's a huge day here on the "closing bell." ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing f
it collapsed once margaret thatcher and ronald reagan and paul volcker got in. what they need is another big spender. they're going to get it. >> gentlemen, thank you for your thoughts on this momentous week for the markets. we're heading toward the close. markets coming off their highs of the day with 50 minutes left. the dow is up 74 points. >> don't go anywhere. it's a huge day here on the "closing bell." ♪ ♪ [ male announcer ] how do you engineer a true automotive...
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Sep 15, 2012
09/12
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WUSA
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the book by william silver, the man behind the book, paul volcker. thank you. >> thank you very much. pleasure being here. >> it's about 21 after the hour. here's lony quinn with our first check of the weather. >> good morning. i want to take a look at the whole country because really daylight today we've only got two organized systems out there. one of which you see right here. this cold front exiting the northeast. if we can zoom in tight it is fading away as we speak and two, three hours from now nothing for nobody as it pushes into the ocean. second system right here. it's in the mississippi valley. even portions of texas. what you're looking at is an upper level low system given an added punch by gulf moisture. so some rain, one to two inches of rain, localized flooding. some of these areas need the rain. places like columbia you need more rain. that's going to be the wettest spot in the country today and then some of it will be very good rain four. quick look at the national picture. here's a closer look at your weather for your weekend. >>> ok
the book by william silver, the man behind the book, paul volcker. thank you. >> thank you very much. pleasure being here. >> it's about 21 after the hour. here's lony quinn with our first check of the weather. >> good morning. i want to take a look at the whole country because really daylight today we've only got two organized systems out there. one of which you see right here. this cold front exiting the northeast. if we can zoom in tight it is fading away as we speak and...
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Sep 20, 2012
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paul volcker probably did more to break the inflationary cycle than anyone else. it has had successes and failures. i do not think getting rid of it is a good idea. host: a tweet for you -- the budget have to balance? did reagan's balance? you cannot: indefinitely run one trillion dollar deficit and keep thinking people will buy the debt. right now the biggest in order is the federal reserve itself. that is like buying your own debt, sooner or later that does not work. we do not have nearly the latitude here that one would like to have. you have to get the fiscal house in order at some point. i think it does not have to balance immediately, although obviously would like to do that. you need to know you will have more than enough income to pay off your obligations. right now we do not have that. sooner or later it will cause economic havoc. i would argue one of the things hurting us now, i think a lot of private money is on the sidelines, in part because without having our debt in order they think taxes or something will go up. i think it is already discouraging th
paul volcker probably did more to break the inflationary cycle than anyone else. it has had successes and failures. i do not think getting rid of it is a good idea. host: a tweet for you -- the budget have to balance? did reagan's balance? you cannot: indefinitely run one trillion dollar deficit and keep thinking people will buy the debt. right now the biggest in order is the federal reserve itself. that is like buying your own debt, sooner or later that does not work. we do not have nearly the...