QOTD: Bubbles Bubbles Everywhere

If for nothing more than just a few inflation hawks inside the Fed Reserve, than we'd be already melting down.  Or, at least, that is the current convictions of this and several other authors out there in the world.

In a speech just released today and picked up by The Hedge (readers should know that I am referring to Zero Hedge), Dallas Fed Res Bank Dick Fisher (no pun intended, but preferred in this context) had the following remarks:

In my darkest moments, I have begun to wonder if the monetary accommodations we have already engineered might even be working in the wrong places.  A great many baby boomers or older cohorts who played by the rules, saved their money and migrated over time, as prudent investment counselors advise, to short- to intermediate-dated, fixed-income instruments are earning extremely low nominal and real returns on their savings. Further reductions in rates earned on savings will hardly endear the Fed to this portion of the population.

It is nice to see that someone inside the Federal (private) banking cartel has finally admitted that their monetarist, neo-Keynesian policies don't work.  To those of us whom have studied history, it isn't hard to say, "ah yeah!  No shit Sherlock!"  That said, Fed Fisher and his counterpart at the St. Louis Fed should be commended for their hawkish outlooks on inflation and money creation.  Unfortunately, as Zero Hedge opines, they will probably resign be forced out.