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Started By
Message
re: I thought the Federal Reserve was not Political and Independent
Posted on 4/23/25 at 9:32 am to John Barron
Posted on 4/23/25 at 9:32 am to John Barron
quote:
I thought the Federal Reserve was not Political and Independent
Same with PBS and NPR…laughable!
0
Posted on 4/23/25 at 9:37 am to NC_Tigah
quote:
I know you'd not know that, because you don't follow this stuff closely.
I said in my post that this was during Trump's first term. I knew Goolsbee was not President of the Chicago Federal Reserve Board during Trump's first term. The point is how he "always had TDS" and was very political. A person like that should never be appointed to the supposedly "Independent not Political Federal Reserve"
Posted on 4/23/25 at 9:39 am to GumboPot
......orrrrrr.......you could have bank runs every 15-20 years interrupted by periods of large inflation swings like had happened in 1873 with a 6 year Depression....another in 1887, the Depression of 1893 and the Panic of 1907. All of these averaged about 3 years and were pretty steep....
Posted on 4/23/25 at 9:39 am to NC_Tigah
quote:
fairness, that was pre-FOMC. Goolsbee has been exceptionally professional and non-partisan in his commentary since his appointment to the Chicago Federal Reserve Board and FOMC.
Hes been calling for rates to lower. Isnt he a front runner to replace JPow
Posted on 4/23/25 at 9:44 am to John Barron
quote:So anyone who has ever voted in their life should be ineligible to serve on the Federal Reserve?
A person like that should never be appointed
Do you actually read what you post??
Posted on 4/23/25 at 9:47 am to John Barron
quote:You neither read what I posted, nor do you know what you don't know.
I knew Goolsbee was not President of the Chicago Federal Reserve Board during Trump's first term. The point is how he "always had TDS" and was very political.
Posted on 4/23/25 at 9:48 am to John Barron
quote:
“..the three decades from 1970 to 2000 witnessed an incredible flowering of new types of home loans. These innovations mainly served to give people power to make their own decisions about housing, and they ended up being quite sensible with their newfound access to capital. That is how economists view the efficiency of a capital market: people’s decisions unrestricted by the amount of money they have right now.”
Economist Austan Goolsbee, NY Times editorial, 3/29/2007. Within just a few months of Mr. Goolsbee’s heartfelt support of subprime lending and “people's decisions unrestricted by the amount of money they have right now”, home mortgage defaults would touch off a banking crisis and eventually a global financial collapse. Goolsbee would later become the youngest member of Barack Obama's cabinet.
This post was edited on 4/23/25 at 10:20 am
Posted on 4/23/25 at 10:00 am to LSURussian
quote:
So anyone who has ever voted in their life should be ineligible to serve on the Federal Reserve?
You constantly make up lies and say things I never said. I said a person that has been that political especially publicly and demonstrated TDS should never have been selected for a supposedly "non political federal reserve" Voting privately is totally different than being a Democrat shill on CNBC and publicly displaying TDS. Don't worry, I know you don't understand the difference between "Record Inflation" vs "Highest Inflation Ever" so understanding the difference between being a political hack on CNBC and working for the Obama and Biden administrations vs voting in private is going to be a hard concept for you to understand
Posted on 4/23/25 at 10:02 am to SDVTiger
quote:
Why shouldnt they be lowered?
Because inflation hasn’t normalized yet as of March, and the tariff policies are likely to cause inflation to accelerate in the short to medium term.
And also, interest rates aren’t especially high by historical standards.
This post was edited on 4/23/25 at 10:03 am
Posted on 4/23/25 at 10:06 am to Lou Pai
quote:
Because inflation hasn’t normalized yet as of March, and the tariff policies are likely to cause inflation to accelerate in the short to medium term.
And also, interest rates aren’t especially high by historical standards.
Wow
Posted on 4/23/25 at 10:08 am to SDVTiger
Sorry mate, I know you are a realtor and want them to be low
Posted on 4/23/25 at 10:10 am to John Barron
quote:You left off the part about me graduating from a "middling" university for my business degree.
I know you don't understand the difference between "Record Inflation" vs "Highest Inflation Ever"
You're slipping, Comrade Snitchkovsky...
Posted on 4/23/25 at 10:12 am to John Barron
quote:
you don't understand the difference between "Record Inflation" vs "Highest Inflation Ever"
What's the record for points in a game for LSU football?
Posted on 4/23/25 at 10:15 am to Lou Pai
quote:
Sorry mate, I know you are a realtor and want them to be low
This is even dumber that the nonsense you posted above
You are really dumb and should erase that post
Posted on 4/23/25 at 10:18 am to GumboPot
quote:
Before the Federal Reserve (1913) congressional overspending (deficits) was controlled by the people. We had veto power on how much overspending that congress could spend by simply not buying federal government bonds (debt).
Then they created the Federal Reserve. The Federal Reserve removed veto power from the people against congressional overspending. After the Federal Reserve it did not matter how much congress overspent, the FR was going to support congressional overspending by printing money and buying federal debt.
There is a reaction to this system and it's inflation. But people don't immediately feel inflation. We are like frogs in a heating up pot of water. It takes a minute to feel it.
However if there were no central bank bailing out congress, congress would immediately get feedback from the people about their overspending.
But now, the Federal Reserve protects congressional grifters.
Correct. The Federal Reserve is merely the issuer of an open-ended credit card against which the United States federal government makes unlimited cash advance requests. Every dollar of which carries a measure of debt/interest to be repaid.
Despite its deceptive name, it is neither part of the federal government, nor does it hold currency in reserve.
Posted on 4/23/25 at 10:18 am to Lou Pai
quote:Even worse. He's a mortgage peddler.
I know you are a realtor and want them to be low
And he actually believes 4.25% Fed funds rate is high.
Posted on 4/23/25 at 10:20 am to LSURussian
What is a mortgage peddler?
Posted on 4/23/25 at 10:23 am to SDVTiger
quote:
quote:Because inflation hasn’t normalized yet as of March, and the tariff policies are likely to cause inflation to accelerate in the short to medium term. And also, interest rates aren’t especially high by historical standards. Wow
He just spit out the propaganda practically verbatim. We’d be better with an AI chip as fed chairman, since it’s not “political”
Posted on 4/23/25 at 10:29 am to SDVTiger
quote:
What is a mortgage peddler?
Posted on 4/23/25 at 10:31 am to Padme
quote:
He just spit out the propaganda practically verbatim
Its imcredible. Then you have old fossils like Russian claiming rates are at 7%
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