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Mayflower Advisors Managing Partner Larry Glazer on Ben Bernanke and the Federal Reserve’s impact on the economy.
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To Diana says it that is a super hero -- that my friends is a super let down with renowned mayflower advisors -- to barter.
Larry -- a good sign of the times -- under the -- Sure you know deal in my house -- talk a lot about -- -- as we also talk about the characteristics that make someone super make someone great.
And we look to Ben Bernanke it's unreasonable pricing and expect they would have those characteristics attributes and qualities.
You know the real characteristics of -- -- -- someone who has leadership skills someone who can navigate the ins and outs of Washington someone -- can instill confidence in the business community.
So that people would hire companies would invest consumers would -- competent to spend money.
You know -- real superhero would have the foresight to know that low interest rates like we have.
Now why do you anymore -- that get their lower.
And the fact that it -- they've actually of unintended consequences that could be harmful if we keep rates low so -- -- us -- -- -- true superhero good joke.
But in this case it will look of our superhero we may have to keep looking.
Well I don't even know -- -- -- it is to just essentially print money you know that's what he's doing and that I I understand.
Maybe we can go home adult man because he does seem -- days you know one of the -- global financial adults but.
I don't know where adults to consider him the only guy in town but maybe that's this case what's going on here.
Well you know it's sort of like say -- the tallest midget in the room I mean he is the one taking action in Washington where there is no action and -- it's getting anything done.
But again we talk about all these issues -- we could make a difference we did see some change and hopefully improve the situation.
And I want to -- You know -- every carpenter everything looks like a nail into the -- the answer is more stimulus and lower rates.
We need the rest of Washington to get to get increase and growth we grow the economy it'll solve all of our problems we can't expect the Fed to do that it's not the Fed's responsibility to solve all these problems.
But we do know right now that.
The trajectory that -- on May lead us to additionally US debt downgrades that is the story out today about Fitch downgrading US yet one more time and again these -- these unintended consequences well it looks like we might be solving the problem we're actually David that the deeper deeper -- Or did a liberal and an -- and we're treating this guy as -- -- in other Oracle of Delphi and its super airline has led but.
-- -- -- on this summoning a purely cosmetic and and just trivial here Ben Bernanke -- -- -- because here is what a superhero sounds like.
There's a superhero real super -- in the south side until they reach their destination.
-- -- -- -- All right now compare that to Ben Bernanke.
And -- that.
The FOMC is continue to maintain a highly accommodative stance of monetary policy.
They -- there now sent him over country -- at all yeah.
Do we do anything now we'll wait out this election year to find some emerging entity may be could be Mitt Romney down the road.
Maybe could be some rising congressional -- down the road maybe some governor.
A lot of people -- -- at the Scott Walker I interviewed him earlier this week very nice guy extremely -- I don't think super thin people make great super heroes.
I'm just saying that of them not so thing got but that's always come down to look where where -- -- -- where our equity night.
Yeah I.
I think that -- that -- make a great point and now when you roll the tape I think the tapes as at all but pretty much I think.
It's not it's not hopeless it's not help us there there are a lot of positive things that can happen.
Extending the bush tax cuts you know maybe a change administration -- company it's a change in perspective Wisconsin may have been shot across -- -- make people feel more optimistic changes in the air again.
And that's changed maybe for the better so I think it.
It's I think we're gonna have a -- that -- second half of the year if we get our ducks in a row and we make the tough decisions that we've been unwilling to make in this country.
Who else all right -- go to go to our -- -- you settled in on bearded adult men and that's what it will be bearded adulthood and that is the new.
Action hero all right thank you very very much Larry as always we.
