OT: The Fed needs to hike 100 bps
- Thread starter pseudonym
- Start date
I was expecting the Powell wrecking ball to come crashing through my little teepee.
huh??? hike?? the problem is biden buying votes with continued govt wasteful spending
That's how monetary policy works. If fiscal policy is driving inflation, you need monetary policy to offset the excessive spending. The wasteful spending is a problem in itself and the bigger problem, but the fed can't stop that. What they can do is adjust monetary policy to prevent it from driving inflation. That's the purpose of having an independent fed. It in theory is somewhat insulated from the politics and has the proper incentives to maintain price stability and it is an indirect mechanism for dissuading politicians from the most asinine spending (although that assumes a much smarter class of politicians than we currently have) or at least making it slightly more likely that they lose the next election.
Our government doesn't give a 17 about us. All we are is a tax farm to them. Oh sure, there are a few that actually care what their constituents want, but not nearly enough. The rest are corrupt as hell. Getting rich from insider trading and misuse of campaign funds. Who was it, George Carlin maybe, who said, "It's a big club and you ain't in it."
It's not about "what their constituents want", its what the companies that donated the most money to their campaigns want.
Last edited:
Or put another way, if they get voted out of office, we ain't gonna hire them to a cushy job. Big Business will. So they keep them happy.
Latest posts
Get unlimited access today.