If the Fed decides to simply fight inflation, I'll praise the Lord that I locked my mortgage rate at 5.875%!
To: Tolerance Sucks Rocks
If the Fed decides to simply fight inflation, I'll praise the Lord that I locked my mortgage rate at 5.875%!If the Fed fights inflation, long term rates will fall.
2 posted on
05/30/2007 9:53:52 AM PDT by
Toddsterpatriot
(Why are protectionists (and goldbugs) so bad at math?)
To: Tolerance Sucks Rocks; Toddsterpatriot
The Fed can’t fight inflation until it figures out what causes inflation.
4 posted on
05/30/2007 10:01:05 AM PDT by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Tolerance Sucks Rocks
The end of World War II allowed the countries of Europe to compete with the U.S It's because we saved their asses and took care of most of their defense since then that they've been able to compete with us, and they still hate us.
7 posted on
05/30/2007 10:03:36 AM PDT by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Tolerance Sucks Rocks
While it warns of inflation as its main concern, our Fed appears "frightened" to compete either against inflation or with the rising interest rates of other competing currencies, most notably the Euro, against which it has depreciated by 12.24% in under a year and by about a third in the past two years. Just because other central banks are doing something stupid doesn't mean our own Fed should compete with them for the title of dumbest central bank.
8 posted on
05/30/2007 10:07:31 AM PDT by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Tolerance Sucks Rocks
From this dominant position, our past Congress was tempted to give our Fed not just the single mandate, of its competing international central banks, of controlling inflation, but a second (often competing contra) mandate of encouraging economic growth. What's wrong with that? If the Fed ended the credit cycle and kept rates steady and in line with the yield curve, then we could have economic growth without inflation. Of course, we would also need the government to behave itself.
9 posted on
05/30/2007 10:11:27 AM PDT by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Tolerance Sucks Rocks
This is too funny. You do realize that the Federal Reserve is no more Federal than Federal Express and it is owned by a private banking cartel whose majority stakeholder seems to be the Rockefeller banking group followed by a bunch of Euro banking families such as the Rothschilds???? Private bankers are going to do whatever is best for private bankers, not what’s best for the American people.
10 posted on
05/30/2007 10:11:49 AM PDT by
rednesss
To: Tolerance Sucks Rocks
If the Fed decides to simply fight inflation, I'll praise the Lord that I locked my mortgage rate at 5.875%! Excessive inflation fighting will stall the economy. What's wrong with the balance approach that the Fed has taken since Volker. Inflation has been a low 3-4%, while the economy has mostly done well.
This past January, Germany alone (facing high interest rates and a greatly appreciated currency) knocked us into second place as the world's largest exporter. A month later, China pushed us into third place.
Who cares? This would only matter if we still believe in mercantilism, but that was debunked by Adam Smith in 1776.
24 posted on
05/30/2007 10:42:38 AM PDT by
Barney Gumble
(A liberal is someone too broadminded to take his own side in a quarrel - Robert Frost)
To: Tolerance Sucks Rocks
49 posted on
05/30/2007 12:19:45 PM PDT by
ovrtaxt
(I would rather vote for Lindsay Lohan than Lindsey Graham.)
To: Tolerance Sucks Rocks; Hostage
The assertion that the Federal Reserve System was intended to control inflation is the opposite of the truth. The Fed's mission was and is to bring about inflation.
It is a fable that governments interfered with banking in order to restrict the issue of fiduciary media and to prevent credit expansion. The idea that guided governments was, on the contrary, the lust for inflation and credit expansion. Ludwig von Mises, Human Action.
See post 95.
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