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Sorry if I've 'misjudged' anyone.... but aren't y'all the same folks always extolling the, um, 'virtues' of an unregulated Free Market (just like Greenspan did, and to a 'somewhat' lesser extent, same as Bernanke...)?!
Greenspan and Bernanke are guilty of having chosen cancerous bubble economics over responsible debt control. They are both lackeys of the rich and powerful who, when their country needed them to lead, did not lead. Greenspan, I believe knew better, and understood his own shame. I am not sure Bernanke understood his own shame.
Contractions always come before births or re-births. Avoiding contractions or attempting to avoid them, by taking on more debt, by wasting money attempting to protect Old World debt (dead matter) is proof of a lack of vision. What America (and the world ultimately) needs (and will eventually get, no matter what the Fed does) is higher interest rates, which make it more expensive to borrow. We needed to begin making debt more expensive in 2001, when the Business Cycle ended. We did not, the Fed did not lead, and we have been paying for it ever since.
Fed's brilliant plan is to continue to pump steroids and adrenalin into the Dead Economy, pretending that they can raise it from the dead by stuffing the corpse with more and more of our money. Remember, the Fed is not using their own money. The FED is using our money for this Modern Monetary Experiment.
Technically, the Fed works for Congress, they gave the Fed 5 primary responsibilities;
- conducting the nation's monetary policy,
- maintaining the stability of the financial system,
- supervising and regulating financial institutions,
- providing for efficient and safe payment and settlement system,
- promoting consumer protections and community development.
Which of these do you think they should NOT do and why do you think they can ignore their responsibilities? They are charged with trying to maintain stability and ensure growth - how do you propose they do that if you take away the tools needed to do that?
Your main thing is to rail against the Fed yet can't seem to understand that the Fed is doing what they are being tasked to do. You are the outlier and can't seem to comprehend that what you seem to be proposing would be much worse. What do you think would happen if the Fed did what YOU wanted?
Technically, the Fed works for Congress, they gave the Fed 5 primary responsibilities;
- conducting the nation's monetary policy,
- maintaining the stability of the financial system,
- supervising and regulating financial institutions,
- providing for efficient and safe payment and settlement system,
- promoting consumer protections and community development.
Which of these do you think they should NOT do and why do you think they can ignore their responsibilities? They are charged with trying to maintain stability and ensure growth - how do you propose they do that if you take away the tools needed to do that?
Your main thing is to rail against the Fed yet can't seem to understand that the Fed is doing what they are being tasked to do. You are the outlier and can't seem to comprehend that what you seem to be proposing would be much worse. What do you think would happen if the Fed did what YOU wanted?
The problem is that the Fed is failing here and well outside of their bounds. The Fed is acting like it's going to stop every recession from happening, which is an idea not based in reality. For me, that's a step too far for the Fed. Not allowing indebted ZOMBIE companies to fail and default is well outside the bounds of their responsibility.
This isn’t Capitalism when the Fed can print unlimited money and bail out ZOMBIE companies. That’s the worst part of Capitalism combined with the worst part of Socialism = SOCIALISM FOR THE RICH. Businesses are benefiting during the good times, borrowing money to buy back stocks, paying out dividends, and not saving anything in a rainy-day fund. And during the bad times when these same companies should be going bankrupt they are getting bailed out by the Fed. Capitalism on the way up, socialism on the way down. That's a broken system, corrupt system, Socialism fo the Rich!!!
Sorry if I've 'misjudged' anyone.... but aren't y'all the same folks always extolling the, um, 'virtues' of an unregulated Free Market (just like Greenspan did, and to a 'somewhat' lesser extent, same as Bernanke...)?!
We don't have anything like an unregulated free market. We don't even have capitalism. We have Cartel-ism. We have a global banking cartel, a global oil cartel (the only cartel that is honest about what it is), a health care cartel, a media cartel, and increasingly, a retail cartel.
Mercy, I couldn't read all that. Too much all capital letters.
If I get the gist of it, we are all going to die because the Feds actions are going to lead to inflation. Current home mortgage rates are around 3-4% and have been for years. When we bought our first house in the 1980's our mortgage rate was 10.5%. Don't get me wrong, high inflation sucks, but it is hardly the end of the world.
The problem is that the Fed is failing here and well outside of their bounds. The Fed is acting like it's going to stop every recession from happening, which is an idea not based in reality. For me, that's a step too far for the Fed. Not allowing indebted ZOMBIE companies to fail and default is well outside the bounds of their responsibility.
This isn’t Capitalism when the Fed can print unlimited money and bail out ZOMBIE companies. That’s the worst part of Capitalism combined with the worst part of Socialism = SOCIALISM FOR THE RICH. Businesses are benefiting during the good times, borrowing money to buy back stocks, paying out dividends, and not saving anything in a rainy-day fund. And during the bad times when these same companies should be going bankrupt they are getting bailed out by the Fed. Capitalism on the way up, socialism on the way down. That's a broken system, corrupt system, Socialism fo the Rich!!!
So you can't or won't answer the questions - complaining without providing a solution is not a reasonable course of action. And saying essentially the same thing twice just makes it sound like rants, especially when use all caps. You seem to not understand the Feds role or have a clue what you want them to actually do.
The Fed is supposed to try and limit the impact of every recession and to ensure sufficient credit to keep companies from failing - might want to reread their responsibilities, these actions are not "well out of bounds".
The Fed is also not "socialism for the rich" no matter how many times you say it (or put all in caps) - socialism is social ownership of the means of production - why would the rich give up the means of production.
The Treasury actually prints the money while the Fed manages the distribution but physical money is not the same as the money supply. The Fed can not "print unlimited money", the Fed is audited annually like any other bank. Congress delegates responsibility for monetary policy to the Federal Reserve, but has oversight for ensuring that the Fed is adhering to its mandates - “maximum employment, stable prices, and moderate long-term interest rates.”
You are arguing with a cult ..it is a losing battle trying to argue
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