Home› Tug Tavern

Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Sign In Register
Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.
Options

Accidental Libertarian Tweet of the Day

Bob_CBob_C Member, Swaye's Wigwam Posts: 12,470 Founders Club
in Tug Tavern
· Share on FacebookShare on Twitter

Comments

  • WestlinnDuckWestlinnDuck Member Posts: 17,332
    Bob_C said:

    Someone has to fund our debt. Someone needs to authorize spending money, not to promote core government obligations, but to buy off special interest groups. I'm no fan of the fed, but the fed didn't pass the "Make Inflation Greater Act". Some minor dem political figure ran on the program that "Milton Friedman wasn't in charge anymore" and had the full support of our hypothetical MBA.
    · Share on FacebookShare on Twitter
  • Bob_CBob_C Member, Swaye's Wigwam Posts: 12,470 Founders Club
    The Fed has backed and cheerled all of the bad spending.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 17,332
    Bob_C said:

    The Fed has backed and cheerled all of the bad spending.

    Agreed. But the spending money we don't have is set by Congress as supposedly elected by US citizens.
    · Share on FacebookShare on Twitter
  • BlueduckBlueduck Member Posts: 1,580
    The "Fed" is controlled by the central banks, not vice versa
    · Share on FacebookShare on Twitter
  • Fenderbender123Fenderbender123 Member Posts: 2,989
    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.
    · Share on FacebookShare on Twitter
  • UW_Doog_BotUW_Doog_Bot Member Posts: 17,879
    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Spending and stimulus checks had far more to do with inflation than low rates.
    · Share on FacebookShare on Twitter
  • pawzpawz Member, Moderator, Swaye's Wigwam Posts: 22,309 Founders Club
    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Seems like best practice would then be to revert to a gold-backed currency and cut the Fed out all together.

    · Share on FacebookShare on Twitter
  • Bob_CBob_C Member, Swaye's Wigwam Posts: 12,470 Founders Club
    UW_Doog_Bot said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Spending and stimulus checks had far more to do with inflation than low rates.
    Agreed, the rates were already lower in early 2020 than they naturally should have been. It was the stimulus to prop up demand combined with simultaneously forcibly shutting down the supply side.
    · Share on FacebookShare on Twitter
  • RaceBannonRaceBannon Member, Moderator, Swaye's Wigwam Posts: 113,043 Founders Club
    I'm no expert but weren't interest rates low for years to protect the housing market which was saving the economy and generating paper wealth?

    · Share on FacebookShare on Twitter
  • Fenderbender123Fenderbender123 Member Posts: 2,989
    edited August 2023
    UW_Doog_Bot said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Spending and stimulus checks had far more to do with inflation than low rates.
    Absolutely, which is why rates shouldn't have been that low in addition to those causes.
    · Share on FacebookShare on Twitter
  • HHuskyHHusky Member Posts: 23,549
    pawz said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Seems like best practice would then be to revert to a gold-backed currency and cut the Fed out all together.

    Some old school idiocy.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 17,332
    HHusky said:

    pawz said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Seems like best practice would then be to revert to a gold-backed currency and cut the Fed out all together.

    Some old school idiocy.
    New school idiocy, "Milton Friedman is no longer in charge." Shit you vote for. Sort of surprising for a mythical MBA.
    · Share on FacebookShare on Twitter
  • LebamDawgLebamDawg Member, Swaye's Wigwam Posts: 8,782 Swaye's Wigwam
    Since creating the FED in 1913 our debt has stabilized beyond anyone's imagination.
    · Share on FacebookShare on Twitter
  • PurpleThrobberPurpleThrobber Member Posts: 47,839
    HHusky said:

    pawz said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Seems like best practice would then be to revert to a gold-backed currency and cut the Fed out all together.

    Some old school idiocy.
    You mean like BRICS is fixing to do?

    And control 80% of the oil in the world while kicking the IMF and World Bank to the curb?


    · Share on FacebookShare on Twitter
  • HHuskyHHusky Member Posts: 23,549
    edited August 2023
    LebamDawg said:

    Since creating the FED in 1913 our debt has stabilized beyond anyone's imagination.

    Lebam wants to get back to the Nineteenth Century, when things were good.
    · Share on FacebookShare on Twitter
  • UW_Doog_BotUW_Doog_Bot Member Posts: 17,879
    HHusky said:

    pawz said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Seems like best practice would then be to revert to a gold-backed currency and cut the Fed out all together.

    Some old school idiocy.
    Your track record on this subject is filled with more holes than a commodity backed currency.

    Maybe sit this one out...or don't and I can laugh like a hyena when you or Mello pontificates on MMT.
    · Share on FacebookShare on Twitter
  • UW_Doog_BotUW_Doog_Bot Member Posts: 17,879
    pawz said:

    Fenderbender123 said:

    The big mistake was lowering interest rates to ridiculously low levels during COVID in the first place. Sure, I benefited on a refinance of my mortgage, but it was a major cause of inflation, and now the fed has to correct the balance by jacking up rates to ridiculous levels as a desperate means to get inflation under control.

    In doing this, they run the risk of overcorrecting before allowing enough time for the economy to respond, and then they'll have to drastically reduce rates again, which again they might be overcorrecting in that regard, similar to how a driver jerks the steering wheel when they start to drift off the road, and then jerks it back, causing a major wreck.

    Seems like best practice would then be to revert to a gold-backed currency and cut the Fed out all together.

    Gold is completely incapable of supporting the size of the economy at this point. You literally need that much gold in circulation to support it.

    It's a non-starter otherwise people would have already moved into gold or gold securities via a free market.

    BRICS...lol I invite you to buy their futures in rubles and yaun.

    Crypto still the only realistic threat to fiat at this point.
    · Share on FacebookShare on Twitter
Sign In or Register to comment.