Showing posts with label Art Cashin. Show all posts
Showing posts with label Art Cashin. Show all posts

Wednesday, January 23, 2013

Art Cashin On The Only Sane Voice At The Fed

Any preconceptions of Fed omnipotence just circled the drain.  Instead of acting like prudent central bankers, they merely thought and acted like hedge fund managers gone wrong, while the commercial bankers they should have reigned in before the financial crisis were going hog wild.  Fisher appears to have been the only sane Fed governor.

http://www.zerohedge.com/news/2013-01-23/art-cashin-only-sane-voice-fed

Thursday, October 13, 2011

Saturday, August 7, 2010

Art Cashin: Fed is walking a tightrope

http://www.zerohedge.com/article/art-cashin-fed-walking-tightrope-hurricane-and-other-observations
While we are seeing the headline numbers are pretty bad, behind the headlines there are some equally disturbing numbers. The government, we are hearing, because of tight budgets, people are being asked to take 1, 2 or even 3 furloughs a week without pay. That's wage deflation, and that's gonna put a strain on things: consumers are going to hold back.

The layoff seem to be slowing because business was taking the other approach. If you want to stay working I am going to have to cut your salary and/or your benefits.

Small businesses account for 50% of our GDP, they account for 60% of new hiring. We are not seeing new hiring because small businesses are not buying into this. So the recovery has not hit main street yet. If you ask small businesses why aren't you borrowing, their answer is "send me a customer, don't send me credit."

We've had more and more signs of potential deflation and the Fed is terrified of that...They've got to come up with something inventive, something as they call it, 'new quantitative easing.' And yet that brings the concern if they do something that is dramatically different, will people say 'What do they know that we don't know? What is the big cause of this?' So the Fed is walking a tightrope in a hurricane and it's going to be tough."