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Everybody has fiat currency today only because it was so easily proven that monetary powers could not maintain anything else. The missions of the Fed meanwhile are to conduct the nation's monetary policy by influencing monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates
The FED works for Wall Street, not for America. The FED chair is always a puppet of Wall Street, except in rare times, Volcker for instance.
The FED crucified the Dollar with QE and ZIRP in order to support global inflation (debt bubbles). The only thing between where we are now and global deflation is the Dollar; keep it weak if you want asset inflation; keep it strong if you want deflation.
The FED is driving the truck. American corporations have been given trillions of free money by the FED. They have bought back shares by the billions. They have offloaded decent-paying jobs to the Third World. It's been a rigged game. The rigging is creating a new feudalism.
Wall Street have done nothing for American workers, they have only stolen as much cash as they could carry. It is the greatest theft of public monies in the history of the world.
The FED has been feeding Wall Street and big corporations free billions for the last half-decade. They have been pocketing all their profits and using ZIRP to push stock prices higher, and cash out stock options at all-time highs, and collect bonuses based on extravagant stock prices. They have been riding the government gravy-train. Socialism for the rich. They have also been sending all their best jobs overseas, to save costs that they did not pass on to consumers, but kept for themselves. Their vampires sucking our blood and living the life of glamour while we worship them in a strange, confused hero worship -- worshipping Dracula while he sucks us of our blood, billions in QE and ZIRP money that is coming from unborn American generations.
Once again, beyond the gates of Fantasy Land, the missions and objectives of the Fed (a U.S. Government agency) are to influence monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates. Lining the pockets of Wall Streeters appears nowhere in the list.
Once again, beyond the gates of Fantasy Land, the missions and objectives of the Fed (a U.S. Government agency) are to influence monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates. Lining the pockets of Wall Streeters appears nowhere in the list.
And you think they've succeeded??
Lining the pockets of Wall Streeters? They handed it to them. After they went bankrupt.
Wall St. needs to learn who the real creators are. Who the real Americans are out carving our path digging in the dirt.
Once again, beyond the gates of Fantasy Land, the missions and objectives of the Fed (a U.S. Government agency) are to influence monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates. Lining the pockets of Wall Streeters appears nowhere in the list.
What was the 'mission and objectives' of Enron? Arthur Andersen? Lehman? Tyco? Countrywide Financial?
Once again, beyond the gates of Fantasy Land, the missions and objectives of the Fed (a U.S. Government agency) are to influence monetary and credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates. Lining the pockets of Wall Streeters appears nowhere in the list.
Tell you what. Go look up who is on the fed, and who makes the decisions. And how they are selected. Then come back and say that statement with a straight face.
Its like hiring only mass murderers at a hospital, seeing your death rate go up, and stating "Well its not from actions of those who work at the hospital, killing patients is nowhere in their job description"
Dr Kevin is wrong about everything else pretty much, but he is dead on correct about this.
I think you need to go back to school and take Economic Class 101. This idea that it always has to be easy, no pain, no suffering in life is a flaw in thinking. The FED kept the punchbowl out too long. The punchbowl is the weak dollar. Lower interest rates made our currency weak. This allowed for massive borrowing of cheap US dollar debt. This was a mistake. It was a FED mistake. More debt at this point does the world no good. The world needs to unwind its debt bubble. As a means to do this, I welcome the strong US Dollar and higher interest rates. Strong US Dollar and higher interest rates = Deflation.
We needed deflation to begin in 2001. Our leaders had no stomach for it; they were cowards. That is the only way out of this mess we've created through extended cowardice policies. It's not going to be pretty, finally deflating the global economy -- but, as I say, it's the only way out of this insanity that low interest rates have caused.
Telling someone else to take a economics class is kinda ironic given the discussion. Dr. Kevin, be honest, have you taken micro and macro economics classes at all?
Tell you what. Go look up who is on the fed, and who makes the decisions. And how they are selected. Then come back and say that statement with a straight face.
Its like hiring only mass murderers at a hospital, seeing your death rate go up, and stating "Well its not from actions of those who work at the hospital, killing patients is nowhere in their job description"
Dr Kevin is wrong about everything else pretty much, but he is dead on correct about this.
Who would you expect to be chair of the fed? People often cry about it being a wall st ex but in very simplistic reasoning it makes sense that's where they'd come from
Dr Kevin is wrong about everything else pretty much, but he is dead on correct about this.
What if I may be right about everything that I post? Why are interest rates still at ZERO? Because we are in debt crisis, we have too much debt. ZIRP protects all of us from defaulting on our loans and sinking the banks.
The FED works for the Banks and Wall Street remember, zero interest rates are about protecting banks.
Come on guys. This is a very basic understanding. Let's not pretend our clueless leaders are going to get us through this if we just keep smiling, playing with our new IPHONES and keep letting them steal our money and give it to their rich friends on Wall Street.
Time to Wake Up!!!!
There is no easy, painless way out of this. We are in cul-de-sac, a dead end. And the rich people are stealing as much as they can, before we go off the cliff. We are being led to the slaughterhouse quietly.
Who would you expect to be chair of the fed? People often cry about it being a wall st ex but in very simplistic reasoning it makes sense that's where they'd come from
Who is going to be our new Paul Volcker and raise interest rates, do the right thing for America?
The Fed has wasted trillions of our taxpayers money to avoid Deflation. We have been spending trillions to protect debt, to protect rich creditors, the Banks above all, and a Wall Street.
Our Debt is not manageable. The Deflation will make the debt disappear. Through default. And this will crush the banking system as it is and force us to develop a better banking system, along the lines of public utilities I hope.
Banks don't need to be our masters. They can be our servants.
Who is going to be our new Paul Volcker and raise interest rates, do the right thing for America?
The Fed has wasted trillions of our taxpayers money to avoid Deflation. We have been spending trillions to protect debt, to protect rich creditors, the Banks above all, and a Wall Street.
Our Debt is not manageable. The Deflation will make the debt disappear. Through default. And this will crush the banking system as it is and force us to develop a better banking system, along the lines of public utilities I hope.
Banks don't need to be our masters. They can be our servants.
Why would you quote me and then avoid answering my question? Strange
Our debt is manageable so I'm not sure why you suggest otherwise. Janet will raise rates so just sit tight, inflation will erode the debt over time
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