Thursday, September 20, 2007
Fed Chairman Flunks Final Jeopardy!
Okay, it’s time for ‘Final Jeopardy’ and the category is…The Economy.
The answer is:
Something that argon, helium, fabric softener, Cheerios, potash, wheat, soybean, waste collection, packaging, spot iron ore and air fares all have in common.
What is the question?
We’ll let the Jeopardy! theme song play in the background while you ponder your response.
Meanwhile, as host of this particular show, we offer the following hint.
The answer we are looking for should be easy for those readers attending this week’s Bank of America conference in San Francisco, during which companies ranging from Procter & Gamble to Waste Management discussed most of these items.
Yikes! The ‘Final Jeopardy’ theme song is moving into that slightly higher register which lets you know we’re getting near the end of the line and you better start writing something.
So let us provide one more clue:
There is one individual who undoubtedly was not in attendance at the BofA conference: Federal Reserve Chairman Ben Bernanke, who, according to his own press release, just cut interest rates not to help out damaged hedge funds and sub-prime mortgage speculators but to avert the “potential” for an economic slow-down in an environment where only “some” inflation risk remains.
Emphasis on the “some.”
Does that help? I thought so.
Okay, the theme song is ending with those final, syncopated notes and that goofy trampoline sound: drop your pens!
Let’s see what you answered.
If you answered “What is ‘price increases’?” you’d be right.
And if you wrote “9%” in the case of fabric softeners, and “25%” in the case of low-volume customers of Waste Management, you’d get an extra hefty congratulations from me, your host.
But you wouldn’t be Fed Chairman, that’s for sure.
I Am Not Making This Up
© 2007 NotMakingThisUp, LLC
The content contained in this blog represents the opinions of Mr. Matthews. Mr. Matthews also acts as an advisor and clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews' recommendations. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
Posted by Jeff Matthews at 9:28 AM