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No; the biggest threat is democrats who want to spend; spend; spend with no product created by those its spent on. No one but a fool invests in anything with no return. Pure consumption is what happened to Greece. Nothing wrong with auditing the FED; they let the recession happen by not acting when they were responsible to; whether we liked it or not. Volker did when it was unpopular and stopped panics.
I did not post what I did to be partisan, but I understand how it looks that way. It is however the GOP which has this goal. And a FED that cannot act independently will be subject to the same type of nonsense we see in other congressional matters: partisan politics. They may as well not exist if the political overlords of both parties have their hands on the steering wheel. If you believe the FED could have prevented the great recession, that is all the more reason to not let the politicians get their hooks in too deep, then the FED will have no chance of doing anything in a timely manner, ever.
As to out of control spending, again I do not want to provoke a partisan squabble, but there is no indication that either party can control it's spending. Some expenses are favored by one party, some the other party and some by both. The reason people got the whole QE thing wrong (no hyperinflation) is by trying to compare the US economy to countries like Greece and using that to draw inane conclusions. I do agree that Greenspan might have taken action and possibly prevented the worst of the recession. But, Greenspan was following laissez-faire economic policies and guess which party favors that approach?
All spending flows back into the economy, whether it is on food for the hungry or missiles from defense contractors or infrastructure or education. Less likely the money will get spent if it is a tax cut for the wealthy though, a large chunk of that money goes to savings and investment. Hungry people spend it all. And the money spent on that food gets spent by the grocer or restauranteur, and so on. I am not sure there is such a thing as "no return".
All spending flows back into the economy, whether it is on food for the hungry or missiles from defense contractors or infrastructure or education.
Infrastructure spending is the best kind of spending. And defense spending is the worst -- from a "how many times does that public dollar move around before petering out" perspective.
Buying a bomb becomes an economic non-issue the minute we drop it on some goat herders. But building a bridge pays dividends for decades.
But the main issue is how entitlements and debt have soared, and wages have flatlined, and purchasing power has plummeted.
"True entitlement is allowing the reasonable minimum wage that Baby Boomers enjoyed when they were our age to deteriorate while opting to cut taxes on the gains from stocks and bonds that they accrued during periods of debt-driven economic and stock-market surges – creating an economy where wage earners at all income levels, as of 2012, receive a smaller portion of economic output at any time since 1929."
All spending flows back into the economy, whether it is on food for the hungry or missiles from defense contractors or infrastructure or education. Less likely the money will get spent if it is a tax cut for the wealthy though, a large chunk of that money goes to savings and investment. Hungry people spend it all. And the money spent on that food gets spent by the grocer or restauranteur, and so on. I am not sure there is such a thing as "no return".
Well put. The crazy thing about our situation is that the tax-cut trickle-down policy came on line at the same time as outsourcing. So guess where that money trickled to? This isn't by accident. And I literally cannot believe that they are still getting mileage out of it, as in "we can't tax the rich because they are the job creators". Meanwhile they sit on loads of cash and if they create any jobs at all they are overseas.
One thing I'd mention is that *not* all spending is equal. Primary is investment in research, education, and infrastructure that results in future value-added production. That's what makes us richer.
Here in northeast Texas in a pleasant area nestled between big Texas metros, with a low unemployment rate and a wide range of jobs from industrial to technical to medical and other professional jobs, the median home price is $122,000.
Adding in property taxes and homeowners insurance, the payments would be under $1100 a month at 4 percent interest, with zero down. Put down ten percent and the payments drop to about $820 a month.
Are you saying that a one income family can't afford a house payment of $820 a month? I'm sure some can't, but most people who are mature and responsible enough to buy a house should be able to afford a payment of that amount - which seems within the reach of many one income families. I mean, if one is making $55,000 a year, that's only about 1/4 of their annual income.
Are you donating the ten percent-? here in FL wages run min to $10 hr, if that - I just walked into my new place 3 weeks ago. Closing costs were $7K with buyers help on a $108K home- mtg and ins etc $800 a mo- I make well over $10 hr but take away living expenses car ins etc not easy baby- if you live alone and if you have kids never happen. NOT about responsibility- it's about dollars --have or have not-- can't stand when people want to categorize people financial standing with moral standard-
many good hard working law abiding moral people cannot afford a home or the upkeep.
Are you donating the ten percent-? here in FL wages run min to $10 hr, if that - I just walked into my new place 3 weeks ago. Closing costs were $7K with buyers help on a $108K home- mtg and ins etc $800 a mo- I make well over $10 hr but take away living expenses car ins etc not easy baby- if you live alone and if you have kids never happen. NOT about responsibility- it's about dollars --have or have not-- can't stand when people want to categorize people financial standing with moral standard-
many good hard working law abiding moral people cannot afford a home or the upkeep.
Are you making over $55,000 a year? Do you live in a low cost of living area with affordable housing? If not, my post wouldn't apply to your situation at all.
Well I was going to point out the American Revolution, but whatever. The response was about questioning authority and trusting media sources. There were a lot of printing presses in the revolutionary era.
From my experience, boomers tended to trust the New York Times & 60 minutes as authoritative new sources, with some resistance from right-wing conservatives who listened to Rush Limbaugh. I find intelligent millenials, who grew up with the internet, look for foreign news sources, alternatives news, official statistics or empirical studies. They view media with a much more critical eye. Of course, this doesn't apply to every millenial. Some are just as dumb as their parents.
That is the OP's last post which was back in November.
It is not SOME it is the MAJORITY.
We are all victims of the MAJORITY in every generation.
But we do have the issue of education. Are we all mostly being kept dumb? Don't those who want to understand things have to spend ridiculous amounts of time wading through and sorting out BS?
I stumbled across it on my own in 1976. But it is not like I have run across much mention of it from other people since then. But it is better than anything I have heard about from the Occupy Wall Street crowd. I have mentioned it many times on the Internet. But the Internet is mostly BS designed to interest the dumb.
psik
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here in FL wages run min to $10 hr, if that - I just walked into my new place 3 weeks ago. Closing costs were $7K with buyers help on a $108K home- mtg and ins etc $800 a mo- I make well over $10 hr but take away living expenses car ins etc not easy baby- if you live alone and if you have kids never happen. NOT about responsibility- it's about dollars --have or have not-- can't stand when people want to categorize people financial standing with moral standard-
