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Old 06-17-2020, 10:29 AM
 
10,547 posts, read 4,580,802 times
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Quote:
Originally Posted by TimAZ View Post
The Fed under Bernanke (with help from Treasury Sec Skeletor) bailed out the TBTF banks and their “insurance” agents — the very people that created the asset fiasco. Many on the FOMC and in Congress thought this was wrong, but we know who prevailed. They “saved” the world and all we taxpayers got was a lousy tee shirt with a $10T promissory note printed on the back.
The post 2008 bailout by the Fed did not involve us the tax payers.
Most all the money used was newly created and temporary, as it was all soon paid back or cancelled as money.
Any national debt that the Fed buys is almost an illusion, since any profits get swept back to the Treasury.
And all the while inflation remained nominal.

Those who had the means, paid proper attention and made the correct investment moves benefited significantly from the above.
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Old 06-17-2020, 11:17 AM
 
2,600 posts, read 990,345 times
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Quote:
Originally Posted by Hoonose View Post
The post 2008 bailout by the Fed did not involve us the tax payers.
Most all the money used was newly created and temporary, as it was all soon paid back or cancelled as money.
Any national debt that the Fed buys is almost an illusion, since any profits get swept back to the Treasury.
And all the while inflation remained nominal.

Those who had the means, paid proper attention and made the correct investment moves benefited significantly from the above.
Is that the fairy tale MMT economists tell their children at bedtime?
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Old 06-17-2020, 12:13 PM
 
10,547 posts, read 4,580,802 times
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Quote:
Originally Posted by TimAZ View Post
Is that the fairy tale MMT economists tell their children at bedtime?
What part do you not understand?
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Old 06-17-2020, 12:30 PM
 
9,610 posts, read 10,231,140 times
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Quote:
Originally Posted by TimAZ View Post
The Fed under Bernanke (with help from Treasury Sec Skeletor) bailed out the TBTF banks and their “insurance” agents — the very people that created the asset fiasco. Many on the FOMC and in Congress thought this was wrong, but we know who prevailed. They “saved” the world and all we taxpayers got was a lousy tee shirt with a $10T promissory note printed on the back.
Sure, that's the funny papers version.
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Old 06-17-2020, 12:42 PM
 
3,548 posts, read 2,252,435 times
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This garbage again?

Zimbabwe gdp was 4 billion usd. Their debts were in external currency.

4 billion gdp is basically a city so small that out of staters don’t even know it. You let me know when your 5th tier city in your state starts printing its own currency. Then maybe we can have a comparison.

My company does more revenue than that in a quarter.

Zimbabwe is irrelevant to the United States position.
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Old 06-17-2020, 12:53 PM
 
3,548 posts, read 2,252,435 times
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Quote:
Originally Posted by TimAZ View Post
I remember in 2007 a Fed Chairman named Bernanke stating:

“Given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited”

Some much for your notion that the Fed is omniscient and “knows” what’s happening. They can and do get it wrong, often tragically wrong.
Or he knew but he can’t say that the housing market is about to fail. The fed chairman’s words are carefully chosen and very powerful. Him saying that would have caused housing to crash.

In hindsite, it’s interesting to know his background and ideas for fighting deflation. He was brought in in 2005, and by 2007....wellllll.
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Old 06-17-2020, 04:34 PM
 
1,659 posts, read 384,594 times
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Quote:
Originally Posted by Hoonose View Post
The post 2008 bailout by the Fed did not involve us the tax payers.
Most all the money used was newly created and temporary, as it was all soon paid back or cancelled as money
In 2007 the Fed’s balance sheet was $870 billion. By the end of this year it’s projected to reach $10.5 trillion. What was temporary/soon paid back/cancelled about the Fed’s balance sheet?
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Old 06-17-2020, 04:52 PM
 
10,547 posts, read 4,580,802 times
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Quote:
Originally Posted by mathlete View Post
In 2007 the Fed’s balance sheet was $870 billion. By the end of this year it’s projected to reach $10.5 trillion. What was temporary/soon paid back/cancelled about the Fed’s balance sheet?
All the post 2008 finagling was cleared. There was a total of $29T new dollars made, committed, paid off or cancelled. About $20T of that was a multitude of repeated overnight loans.

https://www.google.com/search?source...4dUDCAg&uact=5

The Feds Covid support is a new and whole other ball game.
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Old 06-17-2020, 05:50 PM
 
2,600 posts, read 990,345 times
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Quote:
Originally Posted by Hoonose View Post
All the post 2008 finagling was cleared.
Not true, other than a slight decrease under Powell in 2018-19, the Fed assets continued to expand:

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Old 06-17-2020, 05:53 PM
 
1,659 posts, read 384,594 times
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Quote:
Originally Posted by Hoonose View Post
All the post 2008 finagling was cleared.
Don't think so:
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