I guess this is in reference to when Powell was still in denial about inflation..? The rate rises he’s been backed into are quite the opposite of QE and stimulus, which were definitely pouring gasoline on the fire..
Given that fiscal policy has been hostage to partisanship for at least 50 years, we’re lucky to have a rational Fed. If the only tool you’re allowed to use is the brakes, you’re going to have some wildly inefficient effects on the economy. If we could depend on it never falling prey to political influence, I’d support giving them the accelerator too. An economy governed by rational actors, what an outlandish idea…
The whole money system puzzles me. Since there is no equivalent amount of real gold to back up every dollar in circulation then money is worth nothing , not even the paper it’s printed on , since most money is electronic. After thinking this through I must conclude that money is only work credits that businesses dole out to the workers who give it back to other business. The workers really only get what they need to allow them to go back to work the next day. Didn’t they once call us serfs ?
Right now, Scott, you have a whole political party threatening to default and completely wreck the economy because they don’t want to pay the debt that THEY created.
“Borrow and don’t pay back.” Can we call that “Trumponomics”?
I strongly suggest Santis run to the nearest community college, college or university and take a quick primer in macro economics. Not saying the Fed can’t or hasn’t made the wrong calls, but a totally free and unbridled economy is an awful thing on so many dimensions including the the off shoring of so many of the items essential to our daily lives.
NeuralCapsule over 1 year ago
I guess this is in reference to when Powell was still in denial about inflation..? The rate rises he’s been backed into are quite the opposite of QE and stimulus, which were definitely pouring gasoline on the fire..
braindead Premium Member over 1 year ago
Of course market concentration and the resultant pricing power have NO effect whatsoever on inflation.
Unfortunately, the Fed cannot affect those situations and Congress can, but normally will not.
William Robbins Premium Member over 1 year ago
Given that fiscal policy has been hostage to partisanship for at least 50 years, we’re lucky to have a rational Fed. If the only tool you’re allowed to use is the brakes, you’re going to have some wildly inefficient effects on the economy. If we could depend on it never falling prey to political influence, I’d support giving them the accelerator too. An economy governed by rational actors, what an outlandish idea…
General Trelane (Ret.) Premium Member over 1 year ago
The whole money system puzzles me. Since there is no equivalent amount of real gold to back up every dollar in circulation then money is worth nothing , not even the paper it’s printed on , since most money is electronic. After thinking this through I must conclude that money is only work credits that businesses dole out to the workers who give it back to other business. The workers really only get what they need to allow them to go back to work the next day. Didn’t they once call us serfs ?
sandflea over 1 year ago
Or a politician.
rossevrymn over 1 year ago
Yuck, yuck, believe or not Stanti was very much there in the 70s.
Ignatz Premium Member over 1 year ago
Right now, Scott, you have a whole political party threatening to default and completely wreck the economy because they don’t want to pay the debt that THEY created.
“Borrow and don’t pay back.” Can we call that “Trumponomics”?
TCA1799 Premium Member over 1 year ago
I strongly suggest Santis run to the nearest community college, college or university and take a quick primer in macro economics. Not saying the Fed can’t or hasn’t made the wrong calls, but a totally free and unbridled economy is an awful thing on so many dimensions including the the off shoring of so many of the items essential to our daily lives.