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Trump said he was going to give the country back to the people....(from the evil Banks)
The significance if Andrew Jackson's portrait.
Trump has said on more than one occasion.... END THE FED.
I bet, Mr. Sachs is worried about his counterfeit slush fund, that allows him to be above all the laws of the little people.
Ending the FED would be a MAJOR undertaking. Do you really think a president with not much more than 40% approval can do it?
And if that were to magically happen, what replaces it?
What does the fed do?
What are all the processed the FED does now?
Which ones are important?
Which ones are critical?
Which FED duties are inconsequential? And if so, why are they doing it?
How do they do it?
And when replaced, what processes will still be needed?
The FED processes and programs have been built through over a century of trial and error and economic tinkering. When the FED is wiped out, how many decades do you think it will take to replace those critical functions without destroying what is left of the imploded economy. We will most likely go through economic hell and lose much of our economic strength as a country; leaving the vultures to pick our bones.
Won't whoever "replaces" he FED, actually just be the FED again under another name?
Over the years I've heard a lot of people mouthing the "Get rid of the FED" mantra. When I ask the above questions, they invariably have no answer. They stare back at you with that empty "what do you mean 'replace'" look in their eyes. The people they are parroting without understanding never told them the next step.
Get rid of the Fed is exactly like the get rid of Obamacare talk, "I have a beautiful plan to replace it - it will cover everyone and will be cheap." Holding all three branches of the government, most governorships, and the supreme court - yet they couldn't get that done.
Last edited by blktoptrvl; 06-03-2018 at 12:52 PM..
most economists who write opinion pieces have never worked a day in their life in a real job. many are simply academics.
Well again he is an economist but his opinion was not an economic one. Its like a plumber saying the plumbing should be like so and Obama does not make the plumbing like so. Now he is a problem criticizing Trumps landscaping and carpentry,
Its also not impressive to have an accurate prescription . any competent practitioner with a proper diagnosis can do this. What were his diagnostic and predictive powers?
Here is a guy who predicted the housing bubble who is not thrilled about Trump's economic model. He just not muh globalist. So the regressive left has no use for a classic liberal.
Let’s start with your 2006 Harper’s article. What did you see happening at that point?
It was very clear that more and more of everybody’s income had to go to buying a house. Housing prices were soaring, and the reason wasn’t because of population growth. And it wasn’t because people were getting richer. It’s because a house is worth whatever a bank is going to lend against it, and banks were lending more and more money against houses and pushing people further and further into debt so that basically they had to spend almost their entire working life to pay off the price of getting a home. People thought they were getting richer as house prices were going up, but while the sellers were getting richer, the people who had to buy the house had to pay a larger and larger proportion of their income.
When I first went to work on Wall Street in the 1960s, the rule of thumb in banks was you’d lend people enough money so that they could afford to pay the mortgage fully out of only one quarter of their income. In other words, banks wouldn’t lend if the cost of carrying a mortgage was over 25 percent of what they earned. The balance had to be written off in 30 years, so at the end of their working life 30 years later people would own the home free and clear.
Why doesn't the left hold Trump to hold this campaign promise if they wanted to enact real social justice?
You suggested that Trump might’ve had the right idea with his suggestion to abolish the deduction for interest. Do you see any sign of that happening?
Not a chance.
So Trump is not exactly my guy either, thanks in part of the muh Russia distractions to cover up the DNC vote rigging scam and HRC slush fund.
Trump said he was going to give the country back to the people....(from the evil Banks)
The significance if Andrew Jackson's portrait.
Trump has said on more than one occasion.... END THE FED.
I bet, Mr. Sachs is worried about his counterfeit slush fund, that allows him to be above all the laws of the little people.
What's your plan? Years ago I used to be like you BTW. That was 15 years ago. There is a problem, yes. However its complicated. The only real solution is to teach people in their youth how finance actually works. However that is not in the interest of those that draw power from the Matrix.
Jeffrey Sachs.... is a full moon batty lefty who works for the socialist Earth Institute at Columbia University, which pushes fasco-socialistic ideas like population control or eugenics
Renowned??????
Jeffrey Sachs..served as special adviser to the United Nations on the Millennium Development Goals (forced global socialism)
he is a full pledged Keynesian nut, and a globalist
Nina Munk, author of the 2013 book The Idealist: Jeffrey Sachs and the Quest to End Poverty, says that poverty eradication projects endorsed by Sachs, although well intended, have - years later - "left people even worse off than before".
so wow....a far, far left globalist-economist talks trash about trump......so is that supposed to impress people....the guy is a Keynesian wack-job
Anyone who opposes Trump and the GOP are "full moon batty lefties" to you people. Nothing in your post that says otherwise.
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