For the first time in 25 years, our Fed Chairman will not be attending the Financial Conference in Jackson Hole, Wyoming. This conference is designed to allow the brightest financial minds an opportunity to brainstorm, share ideas and ultimately find solutions to today’s most troubling or difficult financial problems. Ben Bernanke has already announced that he will not be attending because of a “personal scheduling conflict”. That is ABSURD! You are serving your country in the most important financial role that exists on the planet. You knew what you were signing up for and you owe it to the American people to do the best possible job you can, which includes going to Jackson Hole every year to determine best practices for the Country’s Financial well-being!
Even if he plans to step down this January, he is still our guy right now and we need him to be 100% involved and present. I have openly been a critic of Bernanke, but for the most part, he has done a decent job keeping things stable in a tough time. That said, this particular situation is unacceptable. He needs to be there. We need him there. If we are going to have a “snowball’s chance in hell” of over-coming this financial debacle, it will require the Fed Chairman to be heavily involved. Read the full story here.
Other topics discussed on today’s show:
– Have homebuyers in San Diego gone too far? Where do you draw the line when buying real estate in San Diego?
– Goldman Sachs exits their “Short Gold” trade after only two weeks vs. the two years they originally stated
– Apple has a good quarter, making over $46 Billion, but investors still don’t like it and they’re right
Today’s On-Air Expert:
Jon Jerotz or “JJ” as I call him, VP of Mortgage Lending for Guaranteed Rate and San Diego Mortgage Expert
Listen to today’s show here: