kallend 2,180 #1 July 17, 2013 www.nytimes.com/2013/07/18/business/economy/fed-chairman-points-finger-at-congress.html?_r=0... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
DrewEckhardt 0 #2 July 17, 2013 kallendwww.nytimes.com/2013/07/18/business/economy/fed-chairman-points-finger-at-congress.html?_r=0 Nope. It's the Fed standing in the way of growth. They could stimulate it through buying debt directly from consumers instead of mortgage backed securities from banks and treasury bills from Lehman Brothers. For the same sort of money they've been manufacturing for those purposes ($80B/month) they could buy $695 per month of debt ($8340 per year) from each of the 115M households in the US. IOW, every month the fed would send each household a check for $695 like the credit card companies do where cashing the check incurs an obligation to pay back the money. The differences from the credit card company checks would be in the term (we'd get 20-30 years to pay back the money), interest rate (just 2-3%), and that the fed was making the money handed out to us. It's time we got a populist Fed that took care of the people, not the Mortgage Bankers of America, Home Builders of America, and National Association of Realtors PACs. Maybe we could ease into it, giving $348 per month to each family instead of $40B per month to the real estate industries for their mortgage backed securities. Quote Share this post Link to post Share on other sites
weekender 0 #3 July 17, 2013 DrewEckhardt***www.nytimes.com/2013/07/18/business/economy/fed-chairman-points-finger-at-congress.html?_r=0 Nope. It's the Fed standing in the way of growth. They could stimulate it through buying debt directly from consumers instead of mortgage backed securities from banks and treasury bills from Lehman Brothers. For the same sort of money they've been manufacturing for those purposes ($80B/month) they could buy $695 per month of debt ($8340 per year) from each of the 115M households in the US. IOW, every month the fed would send each household a check for $695 like the credit card companies do where cashing the check incurs an obligation to pay back the money. The differences from the credit card company checks would be in the term (we'd get 20-30 years to pay back the money), interest rate (just 2-3%), and that the fed was making the money handed out to us. It's time we got a populist Fed that took care of the people, not the Mortgage Bankers of America, Home Builders of America, and National Association of Realtors PACs. Maybe we could ease into it, giving $348 per month to each family instead of $40B per month to the real estate industries for their mortgage backed securities. you lost me at Lehman Bros. they are out of business and have been for a while. they dont sell anything to anybody."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
lawrocket 3 #4 July 17, 2013 Or, put more succinctly, "federal government is the biggest obstacle to growth." Why is growth slow? Because federal policies make it so. Of course, we could just ask the feds to lessen its role. Naw. There's so much more out there to fuck up. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
DrewEckhardt 0 #5 July 17, 2013 weekender you lost me at Lehman Bros. they are out of business and have been for a while. they dont sell anything to anybody. Now it's Goldman Sachs. Third world governments (like Zimbabwe with their trillion dollar bill) print money to cover their expenses. The US government does not (that's what the Fed is for). The Fed printing money and giving it directly to the government would still smell too much like the third world situation, so companies like Goldman Sachs make straw purchases of Treasury Bills which the Fed then prints money to buy. I'm being facetious although the situation is completely ludicrous. This explains the situation best http://www.youtube.com/watch?v=PTUY16CkS-k. I laughed it so hard I cried. Quote Share this post Link to post Share on other sites
weekender 0 #6 July 17, 2013 DrewEckhardt*** you lost me at Lehman Bros. they are out of business and have been for a while. they dont sell anything to anybody. Now it's Goldman Sachs. Third world governments (like Zimbabwe with their trillion dollar bill) print money to cover their expenses. The US government does not (that's what the Fed is for). The Fed printing money and giving it directly to the government would still smell too much like the third world situation, so companies like Goldman Sachs make straw purchases of Treasury Bills which the Fed then prints money to buy. I'm being facetious although the situation is completely ludicrous. This explains the situation best http://www.youtube.com/watch?v=PTUY16CkS-k. I laughed it so hard I cried. i believe you mean Barclays not Goldman. Please explain how a straw purchase of Treasuries works. Only registered dealers can make competitive bids in Treasury auctions. i am very interested in learning how Barclays is able to complete this fraudulent transaction in one of the most regulated markets in the world. I suppose it involves dark sunglasses and false mustaches."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
OHCHUTE 0 #7 July 17, 2013 Whose growth are you talking about? Goldman Sach (country club of wealthy profiteers) profits are through the roof. Guys at the Fed are rich. Congress is getting fat on insider trading. The rich are getting richer. The poor are getting free stuff via tax revenue. The middle class wealth is declining. Things cost too much. Reason, not enough money in the hands of middle class to spend to make a thriving economy. Wall street taking away employment opportunities for US citizens in their quest for profit making. Quote Share this post Link to post Share on other sites
