Naked Emperors of the Fed

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Naked Emperors of the Fed

Post by Pwns »

Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks. :nod:
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Re: Naked Emperors of the Fed

Post by kalm »

Pwns wrote: Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks. :nod:
You pretty much summed it up. Rigged game.
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Re: Naked Emperors of the Fed

Post by UNI88 »

kalm wrote: Sat Mar 11, 2023 7:04 pm
Pwns wrote: Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks. :nod:
You pretty much summed it up. Rigged game.
There some truth to what pwns posted but it bears asking - What would things be like without the Fed?
Being wrong about a topic is called post partisanism - kalm
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Re: Naked Emperors of the Fed

Post by Pwns »

I could probably be convinced we do need a central bank. But the idea that the fed is independent and makes completely objective decisions for the economy with no agenda is at best questionable and at worst laughable.
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Re: Naked Emperors of the Fed

Post by kalm »

UNI88 wrote: Sat Mar 11, 2023 9:58 pm
kalm wrote: Sat Mar 11, 2023 7:04 pm

You pretty much summed it up. Rigged game.
There some truth to what pwns posted but it bears asking - What would things be like without the Fed?
Higher risk of volatility and deeper recessions. It’s sort of the ultimate regulatory question.
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Re: Naked Emperors of the Fed

Post by kalm »

Great point…

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Re: Naked Emperors of the Fed

Post by SeattleGriz »

UNI88 wrote: Sat Mar 11, 2023 9:58 pm
kalm wrote: Sat Mar 11, 2023 7:04 pm

You pretty much summed it up. Rigged game.
There some truth to what pwns posted but it bears asking - What would things be like without the Fed?
I'm going to wait for StOnge to chime in on this. We need an expert.
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Re: Naked Emperors of the Fed

Post by UNI88 »

Pwns wrote: Sun Mar 12, 2023 6:08 am I could probably be convinced we do need a central bank. But the idea that the fed is independent and makes completely objective decisions for the economy with no agenda is at best questionable and at worst laughable.
Those decisions have to be made. Would you rather the Fed be making them or Congress?
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Re: Naked Emperors of the Fed

Post by UNI88 »

kalm wrote: Sun Mar 12, 2023 7:03 am
UNI88 wrote: Sat Mar 11, 2023 9:58 pm

There some truth to what pwns posted but it bears asking - What would things be like without the Fed?
Higher risk of volatility and deeper recessions. It’s sort of the ultimate regulatory question.
So the Fed sucks but things would be more volatile (i.e. worse) without the Fed.

I'm all ears if you have a better alternative to the Fed.
Being wrong about a topic is called post partisanism - kalm
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Re: Naked Emperors of the Fed

Post by kalm »

UNI88 wrote: Sun Mar 12, 2023 12:16 pm
kalm wrote: Sun Mar 12, 2023 7:03 am

Higher risk of volatility and deeper recessions. It’s sort of the ultimate regulatory question.
So the Fed sucks but things would be more volatile (i.e. worse) without the Fed.

I'm all ears if you have a better alternative to the Fed.
Why do you think I’m disagreeing here?

I’m not.
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Re: Naked Emperors of the Fed

Post by houndawg »

SeattleGriz wrote: Sun Mar 12, 2023 10:39 am
UNI88 wrote: Sat Mar 11, 2023 9:58 pm

There some truth to what pwns posted but it bears asking - What would things be like without the Fed?
I'm going to wait for StOnge to chime in on this. We need an expert.
You're just being snippy because he's more knowledgeable about covid than you are. :coffee:
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Re: Naked Emperors of the Fed

Post by houndawg »

kalm wrote: Sat Mar 11, 2023 7:04 pm
Pwns wrote: Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks. :nod:
You pretty much summed it up. Rigged game.
"Pay cash for everything, even if you have to pawn the spare tire" - George "Iron Man" Brown, OL, MLB, NY Yankees
The best way to keep people passive and obedient is to strictly limit the spectrum of opinion but allow very lively debate within that spectrum - Noam Chomsky
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Re: Naked Emperors of the Fed

Post by BDKJMU »

Pwns wrote: Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks. :nod:
Artificially raise unemployment how?
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Re: Naked Emperors of the Fed

Post by kalm »

BDKJMU wrote: Mon Mar 13, 2023 6:05 am
Pwns wrote: Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks. :nod:
Artificially raise unemployment how?
Monetary policy. Make lending harder for business, mortgages, etc. It’s literally what Powell has expressed he’s trying to do. The wages are too damned high!
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Re: Naked Emperors of the Fed

Post by BDKJMU »

kalm wrote: Mon Mar 13, 2023 7:26 am
BDKJMU wrote: Mon Mar 13, 2023 6:05 am
Artificially raise unemployment how?
Monetary policy. Make lending harder for business, mortgages, etc. It’s literally what Powell has expressed he’s trying to do. The wages are too damned high!
Raising interest rates?
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Re: Naked Emperors of the Fed

Post by kalm »

BDKJMU wrote: Mon Mar 13, 2023 7:28 am
kalm wrote: Mon Mar 13, 2023 7:26 am

Monetary policy. Make lending harder for business, mortgages, etc. It’s literally what Powell has expressed he’s trying to do. The wages are too damned high!
Raising interest rates?
Yes. Lower wages and higher rent will slow down the economy.
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Re: Naked Emperors of the Fed

Post by BDKJMU »

kalm wrote: Mon Mar 13, 2023 7:32 am
BDKJMU wrote: Mon Mar 13, 2023 7:28 am
Raising interest rates?
Yes. Lower wages and higher rent will slow down the economy.
So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?
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Re: Naked Emperors of the Fed

Post by kalm »

BDKJMU wrote: Mon Mar 13, 2023 7:39 am
kalm wrote: Mon Mar 13, 2023 7:32 am

Yes. Lower wages and higher rent will slow down the economy.
So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?
It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.
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Re: Naked Emperors of the Fed

Post by BDKJMU »

kalm wrote: Mon Mar 13, 2023 7:45 am
BDKJMU wrote: Mon Mar 13, 2023 7:39 am
So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?
It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.
Well that’s what happens during high inflation. Prices go up.
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Re: Naked Emperors of the Fed

Post by UNI88 »

kalm wrote: Mon Mar 13, 2023 7:45 am
BDKJMU wrote: Mon Mar 13, 2023 7:39 am
So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?
It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.
And individuals have been able to raise prices during this woeful episode of record wages. :kisswink:
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Re: Naked Emperors of the Fed

Post by kalm »

UNI88 wrote: Mon Mar 13, 2023 8:05 am
kalm wrote: Mon Mar 13, 2023 7:45 am

It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.
And individuals have been able to raise prices during this woeful episode of record wages. :kisswink:
Individuals? I remember those. Lol.

Welcome to the new corporate hive collective, sweetheart. :)
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Re: Naked Emperors of the Fed

Post by UNI88 »

kalm wrote: Mon Mar 13, 2023 8:10 am
UNI88 wrote: Mon Mar 13, 2023 8:05 am
And individuals have been able to raise prices during this woeful episode of record wages. :kisswink:
Individuals? I remember those. Lol.

Welcome to the new corporate hive collective, sweetheart. :)
You're either being intentionally obtuse or you're missing the point. Labor/wage inflation is a big part of our current high inflation. Individuals are getting record increases. Why don't you apply the same outrage at an individual profiting from circumstances as you do corporations, darling? :coffee:
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Re: Naked Emperors of the Fed

Post by kalm »

UNI88 wrote: Mon Mar 13, 2023 9:09 am
kalm wrote: Mon Mar 13, 2023 8:10 am

Individuals? I remember those. Lol.

Welcome to the new corporate hive collective, sweetheart. :)
You're either being intentionally obtuse or you're missing the point. Labor/wage inflation is a big part of our current high inflation. Individuals are getting record increases. Why don't you apply the same outrage at an individual profiting from circumstances as you do corporations, darling? :coffee:
After decades of wage stagnation. Yawn.
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Re: Naked Emperors of the Fed

Post by UNI88 »

kalm wrote: Mon Mar 13, 2023 9:40 am
UNI88 wrote: Mon Mar 13, 2023 9:09 am
You're either being intentionally obtuse or you're missing the point. Labor/wage inflation is a big part of our current high inflation. Individuals are getting record increases. Why don't you apply the same outrage at an individual profiting from circumstances as you do corporations, darling? :coffee:
After decades of wage stagnation. Yawn.
Proof of wage stagnation?
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Re: Naked Emperors of the Fed

Post by kalm »

UNI88 wrote: Mon Mar 13, 2023 9:44 am
kalm wrote: Mon Mar 13, 2023 9:40 am

After decades of wage stagnation. Yawn.
Proof of wage stagnation?
This is fairly well known.

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