Why I haven't gotten a smoking gun (a report right out of the federal government) may be explained by the last quote at the bottom of this entry. While that is good (it largely keeps the Fed away from the horse trading and arm twisting associated with the elected branches of the government), it does require a lot of calm thinking on the part of those running the Fed and a lot of trust from the rest of us. (The members are replaced, generally after 10 years or so, by the President)
Someone pseudonymed Pyrrho says that average people cannot fathom macroeconomics, and I tend to agree with him. I have argued macro economics with an acquaintance who is well versed in the subject, and often he has me scratching my head. I do, however suspect that he and I could agree that a federal government policy that encourages making things through manufacturing is superior in the long run to one that only encourages buying things and borrowing (or printing) money to do so. Let us hope and pray that Obama has and keeps that understanding.
Crunchy Conservative
The US Federal Reserve has committed itself to print as much money as it believes it needs
New York Times
Of much greater practical importance, the Fed bluntly announced that it would print as much money as necessary to revive the frozen credit markets
and
All of the tools involve borrowing by the Fed, which amounts to printing money in vast new quantities, a process the Fed has already started. Since September, the Fed’s balance sheet has ballooned from about $900 billion to more than $2 trillion as it has created money and lent it out.Bloomberg
said Ira Jersey, an interest-rate strategist at Credit Suisse Group AG.
"The Federal Reserve is increasing its balance sheet and now printing money, and that’s all quantitative easing is, printing money," Jersey said in an interview with Bloomberg Radio in New York. "Ultimately this ends with inflation being significantly higher than the market is anticipating right now.
HartfordBusiness
U.S. fiscal policy today has a Ponzi-like character to it. We are printing money at a breakneck pace to keep up with entitlement spending programs that most experts say will grow faster than our gross national product. Our federal budget deficit this year could top $1 trillion.
Blogging Stocks
How far the Federal Reserve goes in printing money is anyone's guess. We have to keep in mind that, except for a few periodic reports to Congress, there are virtually no checks and balances on the Fed. They were intended to operate as a separate entity apart from any branch of government.
1 comment:
I do not understand the economy at all. Learned in high school that all wealth comes out of the ground weather farmed or mined. From there raw materials are turned into materials for production. The labor, ingenuity and resource of law abiding working people no matter their beliefs are what makes us a great people. From there we use imagination and our resource to keep enemies at bay.
Being a large and united nation based upon thr logic of working Christian principles, coupled with great resource is how we became a light unto the civilized world. Even the barbarians envy us.
Seems to me that although corruption and conspiricy exists in every nation, and can even play an important role that benifits people where the law fails, it is usually a tool of self serving people.
In my opinion there were many forms of capitolism that could have evolved in this nation yet we have evolved the most greedy and expedient form imaginable. And we are damn good at everything we do weather for good or evil. Did not Europe print more money during the great depression while we weathered the storm?
The bail outs are nothing new, only the scale and blatant abuse of the public treasuary. To my thinking it is the natural course of our economic system driven by debt. A million dollars of debt is more valuable than a million dollars in cash in for our debt driven economy Where the hell did people think we would go with our ponzy economy. No I can't imagine a better way but I don't claim to be a leader nor ask for your vote.
The imediate consequences of the unscrupulous financial world are hurting us little people the most. And rightly se cuz that is the physics of econimics and why we all strive not to be economic prey.
Todays extreme is tomorows norm. The next generation will not view the inflation and belt tightening as we do, but they may have a unique sense of entitlement knowing how good we had it and the shit we inherited to them.
How are the majority of new citizens working to support the baby boomers retirement while knowing they won't get diddly themselves, gonna feel. IF WE ARE NOT SOCIALIST BY THEN WE WILL HAVE A CIVIL WAR.
I personally am not compromised in my views by loans grants, unemployment benifits, or charity from the state or fed. I owe nothing, no accomplishment I have ever had in any way shape or form to the State or Fed. U have gone hungry thanx to their vision of my obligations to them.
I feel entitled to have a harsh opinion of the ass backwards politically correct politicians mentality. But then again no politician has ever invaded my home, stolen my hard earned goods, porked my wife and daughter, sold me defective goods, deceived me in business and told me the law is sorry but cannot give me justice. And if I take matters into my own hand I am more feared than the criminal. My fellow citizen and neighbor does that. At least until he becomes a politician.
We have a leadership that reflects out evolving national nature. I blame Civil rights and the immigrant invasion legal or illegal. We are accepting rather than tolerant. YES! WE REFLECTS THE WHITE COLLECTIVE THAT ESTABLISHED AND FIGHTS TO MAINTAIN THIS NATION IN SPITE OF THE DIVISION. No matter how pissed we get we accept. The alternative is sacrifice to right wrongs? NO! The alteernative is to go to prison while the blogosphere applauds your isolated ass for having gahonies. But the MSM will paint you a disgruntled anarchist. I SEE SEEDS OF FASCISM IN EVERY LEVEL OF gOVERNMENT AND SOCEITY But I have free speech to date to rant. (Thanx for this forum even if no one ever reads this). I personally note the efforts to end our free speech in any media. that is where we wilol see whom the fascists among us really are. Private censorship is a right but institutionalizing laws against free speech, or forcing censorship is fascism.
How can the Fed print And borrow it's sm own printed money from a private institution, and give it away with no accounting? Where does the buck start? How much revenue does the average dollar generate in taxes? Who audits the Fed?
International banking is laundering the elitists corrupt money and I believe the figures would stagger our imaginations. If you work hard and are still hungry your staggered imagination may drive you to follow the first Hitler that comes along. Our economy is our potential worst nightmare. Look who's minding that potential. Buy a weapon while they can still be had legally.
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