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How do you figure that the government "controls the fed"?
The Fed's role is defined by congress, and their chairman is appointed by Congress, but that isn't "controlling the Fed." They don't tell the Fed to raise or lower interest rates. The whole point of the Fed is that it creates a layer of abstraction between the government and the money supply.
If you really think that the Fed doesn't consider the political ramifications of rate hikes, well, I think the point is made. There is a reason the government has refused to fully audit the Fed.
this actually leads to a bigger point that almost every country manipulates their currency up or down. Trump loves to use that as a talking point about the trade deficit and I don't think people fully understand the topic.
They don't. Or at least they refuse to consider the long term over the very short term. We throw a fit every time another country manipulates their money supply if it doesn't benefit us while we do whatever we damn well please which is why the dollar isn't going to remain the what it is today.
Even though the 99% also saw gains, the very rich pulled further ahead, increasing inequality and by definition, decreasing democracy. Because we have to choose; either massive income and wealth inequality where the donor class buy elections; or democracy. This inequality is DESIGNED by the donor class and we get what we deserve when we continue to vote for their puppets in both parties. Only Bernie Sanders was beholden to no one but the people in this election and fought for the 99%.
You didnt even bother to read. The rich pulled further ahead in percentage terms.
The donor class is laughing at working class folks who defend them and vote for their puppets. They dont care about people like you, so why defend them and vote for their puppets?
Some of us would contend a layer of distraction between the gov and money supply. Not conspiracy laden, but just once would love to see an audit of the quasi-gov entity.
We already know they created $2 trillion in QE to buy Fannie and Freddie MBS. That's $2 trillion artificially pumped into the economy, devaluing the dollar, reducing buying power, and harming guess who the most?
You didnt even bother to read. The rich pulled further ahead in percentage terms.
That's common sense. The rich have more to invest; therefore, math dictates they will gain more in both dollars and percentage as long as the investments are wise.
When markets crash, generally speaking, it's the rich who lose most in terms of both dollars and percentage. Once again, math.
We already know they created $2 trillion in QE to buy Fannie and Freddie MBS. That's $2 trillion artificially pumped into the economy, devaluing the dollar, reducing buying power, and harming guess who the most?
Since QE impacts wages the most and investments the least, my guess is QE, supported by big government, hurts the working class the worst.
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