311–320 of 871 posts
Earlier quoted context omitted.
My understanding is the United States has one of the strongest post-pandemic recoveries, the printing was definitely a factor.
I'm not arguing against QE I am saying there was too much of it and we could have had recovered just fine without the severe inflation that landed us in the current predicament.
The Fed absolutely crushed it. Totally unambiguous.
Shots fired. Even the republicans will not be able to ignore this and they know that if Powell caves in the American economy will likely collapse. So who will speak up in his defense?
I’m a little shocked to see the quality of some comments here - I would expect a more grounded discussion. This is like Reddit / YouTube comment history. Someone please tell me this is a Wendy’s. Sure the Fed isn’t perfect. But we don’t really have a better solution as of now because our financial systems are extremely powerful and anyone in office would love to abuse it if they can. Sure, the renovations are ridicul…
Why are the renovations ridiculous?
Earlier quoted context omitted.
Do you have an alternative to the Fed? Likes and dislikes has nothing to do with it. Or let me ask you another way — why do you dislike the Fed?
You can dislike a solution but admit that you can't think of a better solution, or specify that it is better than an even worse solution. I can see why someone would have a issues with "a bunch of rich bankers appointed by politicians" controlling American monetary policy. But I can't really see a better way at least, until we can achieve a post-scarcity economy or something.
Yellen had a long academic career before going into public service (with various roles at the Fed before becoming Fed chair):
* https://en.wikipedia.org/wiki/Janet_Yellen
Bernanke had a strictly academic career before going into public service (and was/is probably one of the foremost experts on the Great Depression, something that was handy in 2008/9):
* https://en.wikipedia.org/wiki/Ben_Bernanke#Academic_and_gove...
Greenspan was in the finance world pre-Fed. Volcker was in government for his entire career pre-Fed:
* https://en.wikipedia.org/wiki/Paul_Volcker#Career
I think people over-estimate how many "rich bankers" are in the Fed, especially at the FOMC.
Bloomberg's Odd Lots podcast with some Fed members in recent years, especially the more obscure regional ones, about their work, and how they often go out and talk to local businesses about what's happening 'on the ground'.
It seems like theres a bit of an inflection point right now in the US. I wonder how much entropy the system can handle it has to be near a breaking point.
Earlier quoted context omitted.
Posting online literally is political activity. You think the hordes of young men who put Trump into power were convinced by mass public demonstration? No: posts on the Internet.
More like convinced by podcasts whispering in their ears.
Earlier quoted context omitted.
The libertarian view is that interest rates should be decided by the free market and not a central bank. Mainly due to what we're seeing now (the executive trying to take it over) and that a small board of people can make bad decisions that have reaching effects.
This is actually quite correct. The Fed Funds policy interest rate is a clumsy instrument because it involves chasing the ever-shifting balancing point of an inherently unstable system. You "cut" rates to increase money creation, which actually pushes your long-term rates higher due to expected inflation and leads to even more money creation for a constant policy rate, and vice versa. This can all be fixed very simpl…
I don't know about "inherently unstable system", given that as central bank independence has grown so has, generally speaking, monetary stability:
Earlier quoted context omitted.
He was rewarded with full control of every branch of government. What did we expect?
And that happened even after they arrested him and tried to put him in jail. What's happening now might be shocking but not unexpected at all.
They really didn't. It was a dog and pony show under the belief that he would not make his way back into power. The dems/reps did not want to set a precedent of holding a president to account for doing terribly illegal things. They didn't intend to actually do anything to prevent this.
And so here we are.