The View From 1776

Managing The Economy

The Federal Reserve, among other things, is charged with managing the economy to prevent unemployment.  Recently released transcripts of Fed meetings in 2006 demonstrate that even a well-informed elite group of regulators cannot do the job.

Posted by .(JavaScript must be enabled to view this email address) on 01/12 at 09:36 PM
  1. Yes, there is a lot of guilt to go around from the Bush era (2006) for identifying who contributed most to the crash of 2008 - and the crystal balls of that period did not work very well. Everybody was getting rich on real estate investment vehicles, and getting tax breaks from the Bush Administration, and were all in hog heaven.

    One would hope that it is possible to learn from our mistakes and not repeat them.

    The goals of monetary policy are spelled out in the Federal Reserve Act, which says
    the Board of Governors and the Federal Open Market Committee should seek
    Posted by .(JavaScript must be enabled to view this email address)  on  01/13  at  01:30 PM
  2. I am going to read out a list of problems facing Britain today. I would like you to tell me whether you think the Conservative party, the Labour party or the Liberal Democrats has the best policies on each problem.
    oil painting from photo
    Posted by madisonbrock  on  01/16  at  03:41 AM
  3. It is incredible to me that in 2006-7 all the experts in finance, economics, the professors, the members of the Federal Reserve, the House Banking Committee, and the U.S. Treasury Department did not see that that having Fannie Mae and Freddie Mac guarantee bum mortgages would lead to massive foreclosures and a depression in home prices. I suppose they were all making too much money peddling securitized paper, or enjoying the perks of their prestigious positions, but it was a serious dereliction of duty. More importantly, it demonstrates that the elites who run our government and Wall Street are not to be trusted with such vital respponsibility.

    This not a partisan issue--both parties have been opening loopholes and bailing out cronies for 50 years. President Obama has continued this policy--he has appointed dozens of Goldman Sachs, JP Morgan, and Chase Bank executives to his administration and continually bailed their businesses out from the bankruptcies their immoral activities caused.

    It is not a matter, as this post says, that the well informed elites cannot manage the economy. The fact is they manage it for their own self-interest, making billions of dollars profit when they drive prices up, and even more when they drive prices down. It is in fact criminal behavior because they know what they are doing and hide it from the public with economic gobble-dy-gook.
    Posted by bill greene  on  01/22  at  08:56 PM
  4. A note for Mr. B.: Can't you delete the obvious advertising posts that clutter these posting sites? Like the 2nd and 3rd above?
    Posted by bill greene  on  01/22  at  08:59 PM
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