Okay, then why is the public not firing the servants whose services are not needed/liked/wanted/appreciated? ... Yes, the insiginificant minority may crow all it wants
, but are they willing to do anything "actionable" besides the usual crowing? What exactly are they doing (if anything) to turn their pathetic fringe opinions into something mainstream, so that they can take the country in the ... err ... "right" direction? :-)
Oh BTW I do not mean that the insiginificant minority should just "shut the f*** up", quite the opposite actually on two counts. (1) The insiginificant minority has the constitutional right to speak-up (2) Personally I enjoy the whining these sore losers do, and "blame the FED for everything
" attritute they demonstrate. :-)
Anyways ... tell me what is this insignificant minority doing (if anything) to stop Ms Yellen from becoming the next FOMC chair-woman? :-)
Now coming to hiding behind the vague language, and not to forget the wrong time-frame you gave of such language originally. It is the matter of one's perspective, comprehension that makes the language clear or vague. What might appear vague to someone with little grasp of English may appear crystal-clear to someone who has great grasp of English. In his wording the Chairman answered the question exactly accurately and completely truthfully in 2007.
Why accurately/truthfully? The crisis was in the beginning stages, and it was humanly impossible to make a judgement as to when it would be containted. The Congress inquired about the opinion, and it was given - accurately and truthfully.
I was not suggesting that everyone in my series of quotes was a public servant. Just pointing out that people will say what they think you want to hear (the economy is improving).
Really? ... Aren't "people" here saying that "US is getting destroyed", "There will be triple digit inflation", "US Dollar will collapse" ... I hear no message about the improvement in economy in such things! :-) Or maybe the people who say these sort of things deeply belive that others want to hear exactly this message? :-)
If I have 10 Apples and 5 are destroyed, I have lost 50%. If I get one back a year later, headlines will read I have gained 20%. In reality, I have now only lost 40%. If my apples ever grow to 11, then my apple count has improved.
What's with this Apple thing? And quite frankly who really cares about how many apples you have? In this oversimplification you are missing that important point that measure of Nation's economy is way too complicated than your Apples. It involves "Job Market", "Real Estate Market", "Bond Market", "Commodity Prices", "Inflation" etc. Also it involves the "starting" point from where the mesaure is to taken.
If you were to start the apple count when you had Zero
apples, and now if you claim you have 6
apples, then you're up 600%
. No? :-)
But the people who are still unemployed (x years later), the people who lost their homes, the people who are excited when they can find a 1% CD rate for 1-year, I'm not so sure they feel as gracious.
Aha ... the "unemployed" ... Now there are 165k less of them
... Right? ... And our FOMC is on the roll
, and given their mandate to fight the "unemplyment", I sure hope that we'll get to 6.5% unemployment sonner rather than later!
BTW the FOMC has no authority/mandate to do anything about the CD rates. You know this. Don't you?
Bottom line my dear ChrisCD: The language and the economy both need careful/measured consideration for one to understand the meaning!