We need different people in elected office - and not with a background of being a politician - we need intelligent high moral character people to make tough decisions. The biggest is to cut federal spending and that leads to cutting federal employment. Now let’s get after it!!
Old enough that I remember 1973, 1981, 1987, 1991 as well as 2000, 2007 and now. In each case we have refused to deal with consequences of policy, doubling down instead. When you have seen the same ending over and over the slight plot variances that get to that ending are inconsequential. Governments tax and governments spend until as Thatcher said, you run out of other people's money. Not a new story, even for the past 1000 years. It is a feature of human society, democratically elected or not. Not a bug. The world continues to bifurcate away from US Dollar dominance, Yellen was publicly scolded after threatening China on Russia, mind you after she had left. This will be a long slow process as the reserve currency status corrodes and the South emerges in a different trading bloc. In the meantime changing our elected leaders will have marginal impact, it is the bureaucracy that controls what the government does. Rule making abounds with no accountability. Watch the burn and figure out ways to trade around it until it finally ends and something new emerges.
I would love to hear your thoughts on where the Fed is truly positioned when it comes to government authority. And which branch *should* have oversight.
If the Fed’s mandate is
centered around what they deem to be reasonable inflation and reasonable unemployment…and these items are severely impacted by congressional fiscal policy, shouldn’t they use monetary policy to combat the congress’ poor fiscal decisions? Or would someone argue that the Fed doesn’t have the mandate to counteract an irresponsible congressional fiscal policy?
With the latest jobs report showing 70,000 new government jobs we are definitely going the wrong way!
Spot on about the fed.
We need different people in elected office - and not with a background of being a politician - we need intelligent high moral character people to make tough decisions. The biggest is to cut federal spending and that leads to cutting federal employment. Now let’s get after it!!
Old enough that I remember 1973, 1981, 1987, 1991 as well as 2000, 2007 and now. In each case we have refused to deal with consequences of policy, doubling down instead. When you have seen the same ending over and over the slight plot variances that get to that ending are inconsequential. Governments tax and governments spend until as Thatcher said, you run out of other people's money. Not a new story, even for the past 1000 years. It is a feature of human society, democratically elected or not. Not a bug. The world continues to bifurcate away from US Dollar dominance, Yellen was publicly scolded after threatening China on Russia, mind you after she had left. This will be a long slow process as the reserve currency status corrodes and the South emerges in a different trading bloc. In the meantime changing our elected leaders will have marginal impact, it is the bureaucracy that controls what the government does. Rule making abounds with no accountability. Watch the burn and figure out ways to trade around it until it finally ends and something new emerges.
I would love to hear your thoughts on where the Fed is truly positioned when it comes to government authority. And which branch *should* have oversight.
If the Fed’s mandate is
centered around what they deem to be reasonable inflation and reasonable unemployment…and these items are severely impacted by congressional fiscal policy, shouldn’t they use monetary policy to combat the congress’ poor fiscal decisions? Or would someone argue that the Fed doesn’t have the mandate to counteract an irresponsible congressional fiscal policy?