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Old 10-06-2022, 02:14 PM
 
3,113 posts, read 933,924 times
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UN is criticizing our Fed chair (Powell) that he is causing a global recession with his policies:

Quote:
“The world is headed towards a global recession and prolonged stagnation unless we quickly change the current policy course of monetary and fiscal tightening in advanced economies,” UNCTAD’s report notes. “UNCTAD projects that world economic growth will slow to 2.5% in 2022 and drop to 2.2% in 2023. The global slowdown would leave real GDP still below its pre-pandemic trend, costing the world more than $17 trillion — close to 20% of the world’s income.”
https://news.bitcoin.com/un-report-u...ing-increases/

I think they're right, the current inflation crisis is not a demand problem but more a supply problem, so tightening supply does not make sense.

Do you agree and is Powell incompetent or does he have some ulterior plan?

 
Old 10-06-2022, 02:15 PM
 
Location: Florida
4,515 posts, read 2,231,687 times
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Quote:
Originally Posted by AfricanSunset View Post

Do you agree and is Powell incompetent or does he have some ulterior plan?

Both
 
Old 10-06-2022, 02:18 PM
 
6,294 posts, read 2,855,026 times
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Inflation Is Largely a Demand-Side Problem

https://www.mercatus.org/publication...side-problem-0


I think there has been too much free money out there supplied by the government. Paying people NOT to work has consequences.
 
Old 10-06-2022, 02:19 PM
 
10,243 posts, read 6,782,402 times
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The problem is not the Fed or Powell, its the Democrat Party who got us into this mess. They pushed through these massive spending bills and caused mass printing just like any African republic. However, with the UN saying to stop the interest rate hikes, there is an ulterior motive behind that, which is not good for any of us.
 
Old 10-06-2022, 02:21 PM
 
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Quote:
Originally Posted by JenaS62 View Post
Both
He was incredibly slow to even acknowledge inflation, then he began raising inflation rates like crazy when the core issue seems to be supply side problems. I think this is more than incompetence, like Fauci cannot be that much of an incompetent immunologist. I believe there is a bigger picture, but we're not invited to see it, yet.
 
Old 10-06-2022, 02:23 PM
 
3,113 posts, read 933,924 times
Reputation: 1177
Quote:
Originally Posted by mascoma View Post
Inflation Is Largely a Demand-Side Problem

https://www.mercatus.org/publication...side-problem-0


I think there has been too much free money out there supplied by the government. Paying people NOT to work has consequences.
Most of the core inflation has been in things like fuel and food. If it was just disposable income, you'd expect luxury goods to be the one's that chiefly shot up.

Also, vast majority of Americans were not paid to not work, but that period is over, and they're again out of money.

Just like with wait times in airports, world supply chain has not recovered to pre-pandemic levels but demand has.

China is also deliberately sabotaging the supply chain to western countries as it manufacturers many of the goods we use.

Last edited by AfricanSunset; 10-06-2022 at 03:04 PM..
 
Old 10-06-2022, 02:27 PM
 
Location: NMB, SC
42,678 posts, read 17,872,014 times
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Quote:
Originally Posted by AfricanSunset View Post
He was incredibly slow to even acknowledge inflation, then he began raising inflation rates like crazy when the core issue seems to be supply side problems. I think this is more than incompetence, like Fauci cannot be that much of an incompetent immunologist. I believe there is a bigger picture, but we're not invited to see it, yet.
He was intimidated by Congress and the Treasury so he moved slowly.
Now..it's a global intimidation by the UN.

He said in his last speech that we will have 2 more hikes.

Odd thing though is that while he is reigning in the money supply Congress is passing huge spending bills while also funding Ukraine's war.
 
Old 10-06-2022, 02:33 PM
 
Location: Hoosierville
17,205 posts, read 14,482,614 times
Reputation: 11456
Quote:
Originally Posted by AfricanSunset View Post
UN is criticizing our Fed chair (Powell) that he is causing a global recession with his policies:



https://news.bitcoin.com/un-report-u...ing-increases/

I think they're right, the current inflation crisis is not a demand problem but more a supply problem, so tightening supply does not make sense.

Do you agree and is Powell incompetent or does he have some ulterior plan?
Is there an option for "the Fed doesn't know what the f$ck they're doing".

Because I choose that.
 
Old 10-06-2022, 03:05 PM
 
3,113 posts, read 933,924 times
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Quote:
Originally Posted by Chuckity View Post
Is there an option for "the Fed doesn't know what the f$ck they're doing".

Because I choose that.
History books will be written on the gross incompetence of all our leaders in this period.
 
Old 10-06-2022, 03:23 PM
 
Location: NMB, SC
42,678 posts, read 17,872,014 times
Reputation: 34724
Quote:
Originally Posted by AfricanSunset View Post
History books will be written on the gross incompetence of all our leaders in this period.
The Fed cannot top the Great Depression....at least let's hope they never do.

Read your history...it would have been a recession only the Fed watched a decline of 30% of the money in circulation and caused a recession to turn into The Great Depression.

From the Fed's own website:
https://www.federalreservehistory.or...eat-depression
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