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which is exactly what bothers me. Surely the folks at the FED are not THAT stupid... in fact, they count on the general public's stupidity to get their agenda through.
The question (without stooping to the level of a conspiracy theorist) is... what is the agenda?
I suspect that ultimately they want inflation which will re-inflate home values. The key piece to consumer spending was a drop in their home's value which dried up HELOCs.
An elected government doesn't benefit itself by purposely making people poorer, happy people are what keeps them in office, see Tuesday. A bank doesn't benefit from poor people who don't spend as much money, they need businesses and people as customers who are financially active. How does Ben Bernanke improve his life if the long term effect of QE is more poor people?
One can certainly question the wisdom of economic policy decisions but to write off anything you/I/we disagree with as some nefarious plot to make people poorer doesn't pass the common sense test.
You always try to call me an idiot and make fun of me, but this post clearly shows you are the ignorant one. I hope you do realize the Federal Reserve is a private bank with unelected officials. Do yourself a favor and research the federal reserve and how they came to power in 1913. They do NOT have our best interests at heart.
You always try to call me an idiot and make fun of me, but this post clearly shows you are the ignorant one. I hope you do realize the Federal Reserve is a private bank with unelected officials. Do yourself a favor and research the federal reserve and how they came to power in 1913. They do NOT have our best interests at heart.
I understand completely how the Federal Reserve works, the subject was banks, the government, and the fed and how people believe they have ill intent. That comment was about the government.
Nice flail though, it is always great to see you make an appearance even if it is a misguided non contribution.
slackjaw has it all wrong. What the Fed is doing IS harmful to the long-term wealth of all Americans, but especially the middle class. The key words are LONG-TERM. What the Fed and the politicians are fixated upon is the SHORT-TERM--that defined as "until the next election." They are doing anything possible to get an "economic blip" before 2012--that's all they are concerned about. As the economist Lord John Maynard Keynes said, "In the long run, we are all dead." Today's politicos have taken that to the extreme; they couldn't care less about 5 years or 10 years from now. If they did care, they would not be putting the forth the policies that they are now. For that matter, most American business can't think any farther ahead than next quarter's results, either. As for the American sheeple, most of them can't think any farther than next month's pay check. So, we get the kind of economic policy that may (and likely may not) improve things over the next year or so, but will absolutely destroy what's left of the American economy over the next decade or so. There has never been any American society in the entire life of this once great country than the one now that is so willing to destroy the future in order to keep the party going for the present. It is despicable and immoral, but that is what we are doing to this country.
I understand completely how the Federal Reserve works, the subject was banks, the government, and the fed and how people believe they have ill intent. That comment was about the government.
Nice flail though, it is always great to see you make an appearance even if it is a misguided non contribution.
My point is the Federal Reserve has an evil intent. They are part of the same cartel that buys off our politicians. As I said, UNELECTED was my key term that you seem to ignore.
My point is the Federal Reserve has an evil intent. They are part of the same cartel that buys off our politicians. As I said, UNELECTED was my key term that you seem to ignore.
I never said they were elected, I was referring to the government.
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I hope you do realize the Federal Reserve is a private bank with unelected officials. Do yourself a favor and research the federal reserve and how they came to power in 1913. They do NOT have our best interests at heart.
