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Thomas Sowell is an Oreo Cookie (Black on the outside, white on the inside).
Socialism is when we work together as a group or a team to agree on what our problems are and then decide to solve them and finally to do the work sometimes very hard work to solve then. If Thomas Sowell doesn't understand this he is one of the "Uniformed" .[/QUOTE]
Ask anyone who has ever escaped from Cuba if that is what Socialism is.
That has nothing to do with the $27 Trillion already invested in millions of American workers' and retirees' investment accounts and pension plans. ZIRP and QE have kept that propped up.
The federal government made the first mistake in telling the GSEs to buy mortgage loans made to those with low-incomes and/or compromised credit. Then, it doubled down by having to invoke ZIRP and QE to prevent the mass catastrophe of the collapse of the $27 Trillion invested in American workers' and retirees' retirement accounts and pension plans.
Why not just let capitalism work without government interference?
Do you want to live through the economic train wreck that will come with having those assets revalued? I don't. Wages support asset values.
Do you want to live through the economic train wreck that will come with having those assets revalued? I don't. Wages support asset values.
No. ZIRP and QE have supported asset values. Some claim the benefits only went to banks, Wall Street, and the top. I've shown that Main Street America has BY FAR benefited the most.
Where you're making your mistake is that higher wages reduce corporate profits. Guess what happens when corporate profits decline. Yep... asset values decline. Capital gains decline. The Trillions invested in American workers' and retirees' retirement accounts and pension plans decline.
No. ZIRP and QE have supported asset values. Some claim the benefits only went to banks, Wall Street, and the top. I've shown that Main Street America has BY FAR benefited the most.
Where you're making your mistake is that higher wages reduce corporate profits. Guess what happens when corporate profits decline. Yep... asset values decline. Capital gains decline. The Trillions invested in American workers' and retirees' retirement accounts and pension plans decline.
We need to raise interest rates, but if we do we will have an economic meltdown, so we need an inflation rate high enough to require raising interest rates to control it. Zero prime isn't getting that inflation rate so get it with wages.
I'm not disputing your assertion that everyone benefited from zero prime and QE. I'm saying that it isn't enough. Not long term.
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