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Presidents have no control over the Federal Reserve.
No doubt you're ignorant of the fact that President Carter was totally livid about about interest rate increases by the Federal Reserve, which reached 20% in March 1980. Although lowered to 8.5% during the Summer months, the rate increased to 12% in September.
The average rate during the Carter Administration was roughly 13%.
Carter still blames the Federal Reserve in part for his 1980 Election loss.
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I was there. We are not discussing ancient history. We are talking about whether things are quickly getting better for the masses. Read my post above - for 4/5 of the workers they are NOT. And that does not take into account the higher rates yet...or the health care debacles Trump is setting up...
There is NO WAY the Trump economy is, in reality, helping those who need it. Rather it is making sure even more go to people like me who don't.
I was there. We are not discussing ancient history. We are talking about whether things are quickly getting better for the masses. Read my post above - for 4/5 of the workers they are NOT. And that does not take into account the higher rates yet...or the health care debacles Trump is setting up...
There is NO WAY the Trump economy is, in reality, helping those who need it. Rather it is making sure even more go to people like me who don't.
This is fact...
You've shown an amazing lack of economic knowledge throughout this thread, but we're supposed to believe you when you say something is a fact? Alrighty then...
The truth is, the economy is getting better. For those that are willing to improve their situation by switching employers, or for those like me who work for themselves most of the time, business is booming. Anyone who is sitting at the same job they've had for the last 5 years and waiting for their employer to toss them a bone needs to start actively working to improve their situation, rather than sitting around and passively waiting for someone else to improve it for them.
If you are making 9% on CD's you're STILL making only a few percent after inflation.
I'm constantly amazed by people that complain about the fat cats....and turn around and invest in stuff that makes 1-2% OR LESS ABOVE INFLATION.
However, as I get older I don't care. People that bone themselves with poor choices are something I cant fix.
It's not hard to understand why people would prefer to invest their life savings in something secure as opposed to things that they have seen is corrupt and have seen the corrupt running the show get away with fraud.
You're aware that they raise rates - or more accurately, stop printing money and let interest rates rise to something resembling a market rate - because the economy is good, right. They had to print money at record levels to hold interest rates at zero during Obama's entire tenure to keep people spending despite the so-called "recovery." This is great news.
They began raising the rates in 2015...What are you talking about?
The stagnation of workers' wages is by design. Any honest economist and honest news media not owned by Wall Street will tell us that the top 0.1% have made sure that the war they have waged against the typical worker is paying off handsomely. Destroying unions, weakening anti-trust legislation and enforcement, eroding the minimum wage, weakening the public safety net, anti-worker trade deals, gifts to Wall Street, billionaires owning the political process...Its a whole list of tactics employed by the ruling elite against worker leverage and that is why workers are getting a smaller and smaller share of the national income. And the pain will only increase in the future when the deep cuts to the remaining safety net take place like SS, Medicare and Medicaid and the total elimination of unions with the courts packed with corporate judges.
Last edited by Ibginnie; 06-17-2018 at 08:39 AM..
Reason: deleted quoted post
The stagnation of workers' wages is by design. Any honest economist and honest news media not owned by Wall Street will tell us that the top 0.1% have made sure that the war they have waged against the typical worker is paying off handsomely.
Destroying unions, weakening anti-trust legislation and enforcement, eroding the minimum wage, weakening the public safety net, anti-worker trade deals, gifts to Wall Street, billionaires owning the political process...
Its a whole list of tactics employed by the ruling elite against worker leverage and that is why workers are getting a smaller and smaller share of the national income.
And the pain will only increase in the future when the deep cuts to the remaining safety net take place like SS, Medicare and Medicaid and the total elimination of unions with the courts packed with corporate judges.
Nailed it.
Why anyone who works for a pay check ever votes for Republicans is beyond me. They are cutting their own throats.
Claiming that the Democrats are just the same is nonsense.
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