The View From 1776

How Interest Rate Manipulation Punishes Us

Why is it bad for the Fed to reduce interest rates when, as now, the dollar is falling against other currencies?

Posted by .(JavaScript must be enabled to view this email address) on 02/28 at 01:30 AM
  1. If the Federal Reserve had not been so willing to pamper the Bush administration the US economy wouldn't be in the mess it is now. Greenspan was so giddy about having a Republican in the White House he forgot his professionalism, when he overlook or ignored the fiscal transgressions that Bush was perpetrating on the American people, with his tax cuts and his reckless spending on the war on terrorism and Iraq.

    Greenspan's lack of discipline also helped foment the subprime debacle. His lack of discipline, though, was purposeful, for the purpose of helping Bush realize his pet project of an "ownership society". Unfortunately the whole thing has been a disaster, which the American people will have to burden for years and years to come.

    And The View dares to take about how irresponsible Democrats might be. Most like they will bring a sense of fiscal sanity to the nation, like the previous Democratic administration did.
    Posted by .(JavaScript must be enabled to view this email address)  on  02/28  at  07:11 PM
  2. Actually, the Democrats are talking about spending even more, just in different ways. They are also talking about a tax cut on corporations and the middle class. They hope to pay for this with reduced spending in Iraq which is a drop in the bucket and tax increases on the wealthy which there are ways to avoid by investing in tax free government bonds.

    The Fed is a private company. It isn't a government agency although there is supposed to be government oversight through the appointment of the Fed board by government but, the real people in charge are private central bankers here and in Europe. Thus, the goals of that international group of elite is what the Fed caters to, not Bush or Clinton or any other President. They can reward or punish any President with the interest rates and other banking policies. They can tighen or loosen credit, they can buy and sell options that move the stock markets. They can use the IMF and World Bank to move money supplies around.

    Both political parties try to keep the Central Banks happy because they can destroy any administration in several ways because they, not the government, controls the money supply.

    The President has made a lot of mistakes but, the President doesn't really have much power over money supply. Congress also, is who approves all budgets before they are signed into law by the President. Thus, funding for Iraq is just as much an issue with Congress and more, since they do have the power to limit the President on it.

    The problem with the U.S. is socialism is now costing $1.3 trillion in just social security and health and human services. Add another 1/2 trillion for interest on debt, much of it to fund those two departments and you are at $1.8 trillion. Add Defense and you now are consuming $2.5 trillion of a $3.1 trillion budget. But, that is not much. Look at what we face for the future.

    We have $50-73 trillion depending on forecasts, in unfunded liabilities facing us. Every full time worker now owes $400,000 for his share of what those programs will cost for him to receive the benefits when he retires. That is almost 100% a democrat program based on socialism. Unfortunately, the cost of that can only be borne by a prosperous nation and we stopped being that decades ago when we started moving from creditor nation to the largest debtor nation on earth.
    Posted by JanPBurr  on  02/29  at  12:09 PM
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