Question for the fed apologists

[Pwns]

Since you people always say it's a bad idea for the fed's duties to be delegated to congress because there will be political pressures to keep interest rates low, what do you have to say now? The price of damn-near everything other than houses has been creeping up, and Bernanke and the rest of the fed-goons are keeping interest rates under the floor because they are afraid banks will lose money if rates are raised and more people start defaulting on their mortgage payments. Not only that, but they have the nerve to tell us that DEFLATION is a problem.

Why do you believe that the fed's heart is pure gold and that they always do what is in the best interest of the country and not the banks that comprise it?

[AZGrizFan]

Why is everything always the banks fault?

[Cap'n Cat]

Why is everything always the banks fault?

You've been given free reign for millennia, Z, to squeeze the testicles of mankind. That's why. Money is God to you.

[AZGrizFan]

Why is everything always the banks fault?

You've been given free reign for millennia, Z, to squeeze the testicles of mankind. That's why. Money is God to you.

Yeah, that's why I work in credit unions.

[89Hen]

Bernanke and the rest of the fed-goons are keeping interest rates under the floor because they are afraid banks will lose money if rates are raised and more people start defaulting on their mortgage payments.

Not following you here. How would the Fed raising it's overnight lending rate affect people currently in a mortgage?

[D1B]

You've been given free reign for millennia, Z, to squeeze the testicles of mankind. That's why. Money is God to you.

Yeah, that's why I work in credit unions.

But you support bankers and the Wall Street criminals who have bankrupted America. Perhaps if you and the rest of conkutopia spent less time worrying about the pennies given to the poor and more on the trillions given to your Wall Street buddies, we'd be in better shape.

[AZGrizFan]

Yeah, that's why I work in credit unions.

But you support bankers and the Wall Street criminals who have bankrupted America. Perhaps if you and the rest of conkutopia spent less time worrying about the pennies given to the poor and more on the trillions given to your Wall Street buddies, we'd be in better shape.

Boy you've sure got me figure out, don't you?

[AZGrizFan]

Bernanke and the rest of the fed-goons are keeping interest rates under the floor because they are afraid banks will lose money if rates are raised and more people start defaulting on their mortgage payments.

Not following you here. How would the Fed raising it's overnight lending rate affect people currently in a mortgage?

Don't stop him, hen...he's on a roll.

[CitadelGrad]

Bernanke is half right. There might not be commodity deflation, but there is certainly wage deflation.