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Fed takes rates up another three quarters. Quick, dissemblers pretending nothing's wrong to the fore

Dawg

President
Supporting Member
Sure. He could make the slacker stooges who pretend to work, but instead loaf around on this forum all day, join them.
Salt mines may soon be filled with moochers that don't repay student loans they signed a contract to repay
 

God of War

Lets go Brandon!
The Fed raising interest rates seventy five basis points to combat inflation is not immoral.
Their explicit job description I'd maintaining a stable currency and they are using the tools at their disposal to do so.
You obamacare types with your wishing and hoping for a school yard loan forgiveness law have nothing to say about the morality and ethics of money. You're jokes on the matter.

The rate should never have been zero because it faciliated immoral and unethical treatment of the means by which we keep tabs on who did what for how long and for how hard for some future recompense in doing the right thing morally and ethically. What pain was avoided for this generation has been doubled and tripled for the next.
 

EatTheRich

President
It is, actually. Especially in this instance. It is obvious that the inflation we are currently experiencing is the result of three things:

1. The (Brandon endorsed) lockdowns that destroyed businesses (except, of course, the mega-corps).
2. The Brandon Administration's war on fossil fuels.
3. The Brandon Administration's sanctions on Russia.

So clearly this is a supply constraint situation - not a too much demand issue.


If there was simply too much demand you wouldn't see inventories stacking up like that.

There's also two other contributing factors:

1. Brandon at the same time is pouring trillions in free money into the economy.
2. Real wages are declining forcing people into higher credit card balances.

None of that...NONE...is going to be fixed simply by raising rates, at least not without immense economic dislocations.

What makes it "immoral?" Simple - it could be fixed without overdoing interest rate policy by:

1. Opening up the oil and gas drilling.
2. Reducing regulations across the board.
3. Reduce government spending.
4. Start brokering peace negotiations between Russia and Ukraine.

But, of course, Brandon will do none of that, so raising interest rates into an economic slowdown is what we will get and it will absolutely wreck small businesses and the middle class. Oh, and don't forget to enjoy the decline...
Oil production is up 103% under Biden. Federal spending is down 15%.
 

EatTheRich

President
Pipe down, Mister. Lefty is in the middle of insisting that:
A) “Inflation is a worldwide international phenomenon, not attributable to any US policy or action”
AND
B) Biden, Congress, and the Fed can act to reduce inflation via passage of laws and raising the American interest rates

Ain’t it cool when you ALWAYS get to have it BOTH ways…across all issues? It’s yet another example of that permanent adolescence thing.
Inflation is a worldwide phenomenon and this particular episode is very much the result of international economic effects. At the same time, it is largely attributable to the global pandemic which was made far more severe by the U.S.’s bungling. And strong-money policy can alter the effects of the global crisis on the U.S.
 

EatTheRich

President
Because we could use that money to run the country instead of heavily taxing peoples income. After we developed a huge surplus, we could lower the rate.
We’ll still need income taxes, not just for the revenue needed to provide for the general welfare, but also to reduce the social power of the wealthy who are hurt most by income taxes.
 

EatTheRich

President
Biden could force all the retired people to return to the salt mines to alleviate the labor shortage.
I want the inflation. Inflation is good for me, I am not on a fixed income. I can go pick myself up by my bootstraps and go get a higher paying job.
And to all those retired bums out there.
Well just f*ck 'em.
The working class will never defeat the exploiters without solidarity. Obviously questions of inflation/deflation will divide us, but we need to compromise between the debtors and those with fixed incomes, and with the disparate needs of potential middle-class allies, to work out a common program. We need to take special care that the most vulnerable are assured they won’t fall behind. “I got mine, screw everyone else” works (in a capitalist context) for the billionaires. It is a deadly trap for the rest of us.
 
The working class will never defeat the exploiters without solidarity. Obviously questions of inflation/deflation will divide us, but we need to compromise between the debtors and those with fixed incomes, and with the disparate needs of potential middle-class allies, to work out a common program. We need to take special care that the most vulnerable are assured they won’t fall behind. “I got mine, screw everyone else” works (in a capitalist context) for the billionaires. It is a deadly trap for the rest of us.
There is no middle ground. It's either inflation or recession. You have to choose one. "Neither" is not an option here is reality.
 

EatTheRich

President
There is no middle ground. It's either inflation or recession. You have to choose one. "Neither" is not an option here is reality.
It’s a question of severity. Personally I think they are pushing deflationary monetary policy too far when the inflation appears to be a largely conjunctural and transitory phenomenon and the deflationary pressure remains high.
 

RickWA

Senator
Inflation is a worldwide phenomenon and this particular episode is very much the result of international economic effects. At the same time, it is largely attributable to the global pandemic which was made far more severe by the U.S.’s bungling. And strong-money policy can alter the effects of the global crisis on the U.S.
Thanks, Bugsy#2.
 

worldlymrb

Fvck Joe Biden
Pipe down, Mister. Lefty is in the middle of insisting that:
A) “Inflation is a worldwide international phenomenon, not attributable to any US policy or action”
AND
B) Biden, Congress, and the Fed can act to reduce inflation via passage of laws and raising the American interest rates

Ain’t it cool when you ALWAYS get to have it BOTH ways…across all issues? It’s yet another example of that permanent adolescence thing.
A/B is actually correct.

REF A) “Inflation is a worldwide international phenomenon, not attributable to any US policy or action”

Inflation is much higher globally than in the USA and it is mostly due to their own stupidity. The first reason inflation is higher in Europe/UK is not only because of their criminally insane fascist green policies. The 2nd reason is that the Federal Reserve has raised the Base Fed Rate from 0 to 3.5% in the last 6 months while EU/Japan have not raised rates as of yet. This is causing the Euro/Yen to collapse as money rushes into the USD which is making the dollar stronger.

The real bad news is the EU/Japan are F*KED. Any gueses what happens to the EU economy if they have to raise their rates from -0% to +5% just to put a stop to their currency collapse? And of course, if they do nothing lol? Ask a European if they still support Ukraine in January... LMAO!

REF B) Biden, Congress, and the Fed can act to reduce inflation via passage of laws and raising the American interest rates.

As explained above, raising interest rates strengthens the dollar and can lower inflation. However, if the CPI is running hot at 8.5% and interest rates rise to only 3.5%, you are STILL GOING TO HAVE INFLATION! As Paul Volker proved in 1980, you need real interest rates to be 5% above real inflation to stop it. Never going to happen. PASSAGE OF LAWS: Congress can pass a law tomorrow re-introducing wage and price controls. Inflation would collapse. Of course the shelves would be empty but hey, the inflation problem is solved.
 

PhilFish

Administrator
Staff member
Interest rates are the tool the fed uses to fight inflation.
What is there to say ?

Are you saying they're doing too much ?
no, i was looking to the dissemblers to pretend for us that things were leveling off, and all that other sh*t from weeks past...


but..poof. they be gone.
 
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