Told'ya so. Yellin is under the delusion that she matters, and has to keep turning her giant knob to manage the economy of the world. She has a giant knob, but there's no pot behind the panel. So, she'll keep contributing to making things worse, hoping she won't get the blame when things get worse.
Interesting times. Stupid times, too.
-- John Larkin Highland Technology, Inc lunatic fringe electronics
Well that made my day. The DJIA dropped 230 points while she was talking.
Negative interest rates ? I don't see how that would work for the common pe ople. If the banks are paid to take the money it is going where all the oth er money they took went - into investments. It is not going to be loaned ou t for small business creation/expansion or house mortgages.
Oops, turned the big knob the wrong way.
Neg interest is theft of savings. Of course, borrowing will still cost.
-- John Larkin Highland Technology, Inc picosecond timing precision measurement jlarkin att highlandtechnology dott com http://www.highlandtechnology.com
Yep, and then they'll ban cash. Instant and instantly variable taxation.
There is a pot in there, but the winding is oddly distributed, and seems to moved around from time to time.
She can do stuff, but predicting the consequences of what she does is difficult, and there are circumstances where it can be impossible.
John Larkin can be relied on to add to the stupidity. He isn't actually stupid, but he doesn't know all that much, and can't be bothered working out how little he actually knows.
-- Bill Sloman, Sydney
Arent they talking about the interbank intrest rate? not the saving rate. They don't want the banks to hord the money, they want the banks to loan it out and never see it again ;)
Cheers
g.
n people. If the banks are paid to take the money it is going where all the other money they took went - into investments. It is not going to be loane d out for small business creation/expansion or house mortgages.
They want to force savers out of cash, hoping that will spur spending, restarting the economy. It's crap.
Somehow giving banks piles of digital credits did not cause people to seek employment, or to make more things. Instead of hiring and investing in Barack's World, companies borrow cheap money to buy back their own stock . Which was weird, because the computers all said it would. This has The Masters of the Universe mystified.
John's right, it's a massive 'taking' without due process or law, by this one unelected bureaucrat. Utterly unconstitutional.
Cheers, James Arthur
.
people. If the banks are paid to take the money it is going where all the other money they took went - into investments. It is not going to be loaned out for small business creation/expansion or house mortgages.
We've dumped a bunch of borrowed money on the economy for eight years, built nothing, and succeeded in driving people out of the workforce. Hip hip, hooray!
We're getting to that point Maggie Thatcher warned about, when we run out of other people's money. And looks like we'll all get there together, which should be jolly good fun.
We are too fragile, fiscally as well as psychologically. Our economies, cultures and polities are still paying a heavy price for the Great Recession; another collapse, especially were it to be accompanied by a fresh banking bailout by the taxpayer, would trigger a cataclysmic, uncontrollable backlash."
The revolution will be televised.
Cheers, James Arthur
Do you get the feeling that the vast majority of policy makers, bankers, and economists are absolute idiots?
-- John Larkin Highland Technology, Inc lunatic fringe electronics
ing.
mon people. If the banks are paid to take the money it is going where all t he other money they took went - into investments. It is not going to be loa ned out for small business creation/expansion or house mortgages.
as-we-know-it.html
,Worse, they're brainy, with zero understanding that predation scares their prey. In the woods they'd all starve.
Cheers, James Arthur
It wasn't supposed to.
They issued reserves to banks to bolster liquidity, then paid interest on those reserves.
QE{I,II,III} is a non-event.
Because they are completely, totally and utterly clueless about doing anything else. That ain't Barack's doing; that's the collapse of the private sector into nothing but cash cows.
It's a complete failure of imagination. And it's been building for a very long time.
Lol, whut? It's not inflation. You may or may not be aware that the Fed has been utterly unable to hit its own inflation target for going on 10 years now.
by
Every court challenge to the Fed has upheld it. *Un*constitutional means "violates a constraint established by the Constitution". This isn't that.
I highly recommend "Monetary History of the United States" by Milton Friedman.
-- Les Cargill
ing.
mon people. If the banks are paid to take the money it is going where all t he other money they took went - into investments. It is not going to be loa ned out for small business creation/expansion or house mortgages.
It does seem to have stopped manuracturers and other businesses from firing people and going bust, as they did after the 1929 crash, but James Arthur doesn't understand, and doesn't want to understand, Keynesian economics so he can't believe it.
ck.
Not that James Arthur understands the US constitution correctly - it's actu ally a device invented by the founding tax evaders to let the people who ow ned the country continue to run the country for their own benefit, behind a rather thin veneer of democracy. According to James Arthur it was written on tablets of stone under divine inspiration, and nothing that has come aft er it is anywhere near as good. In reality, De Gaulle's 1958 constitution f or the French fifth republic is almost as bad, for much the same reason - t he guy who wrote it, wrote with the intention of of staying in power as lon g as possible - but at least it uses a two-round run-off system for most el ections, and proportional representation for the rest.
Everybody else has learned rather more from the visible defects in the US constitution and has done rather better. The English won't admit, it but th eir electoral reform bills effectively revised what constitution they had, if rather too early to let them learn all they could from the US mistakes.
-- Bill Sloman, Sydney
ng.
on people. If the banks are paid to take the money it is going where all th e other money they took went - into investments. It is not going to be loan ed out for small business creation/expansion or house mortgages.
It didn't drive out as as many as the economic policies you were recommendi ng back in 2008 would have done, and if one strips out your cherry-picking, the work force is now back in much the same state as it was in about 2004, before all sub-prime mortgages had created a boom in home-building, which did create a short term peak in employment.
s-we-know-it.html
The Daily Telegraph took Thatcher seriously long after everybody else had n oticed the dementia that eventually killed her.
She was clearly nuts by 1990, when Geoffrey Howe delivered the resignation speech that finally took her down.
Says the Daily Telegraph. Right-wing nitwits writing for right-wing nitwits .
Sure. And the sky will be obscured by the clouds of pigs flying overhead.
-- Bill Sloman, Sydney
lking.
ommon people. If the banks are paid to take the money it is going where all the other money they took went - into investments. It is not going to be l oaned out for small business creation/expansion or house mortgages.
m-as-we-know-it.html
.s,
ic,
John Larkin thinks that lots of people who do things that he can't understa nd are absolute idiots. There is another way of seeing this observation.
Interesting paradox. Bankers can't understand things that even James Arthur can understand.
-- Bill Sloman, Sydney
Though I don't support Rubio I think he's dead-on about Obama... Obama is a mean-spirited POS intent on reducing the USA to 3rd world level. ...Jim Thompson
--
| James E.Thompson | mens |
| Analog Innovations | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| San Tan Valley, AZ 85142 Skype: skypeanalog | |
| Voice:(480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |
I love to cook with wine. Sometimes I even put it in the food.
Jim-out-of-touch-with-reality-Thompson hasn't noticed that the US public health figures were 3rd world before Obama was elected, and Obamacare has made a small improvement.
If you want a mean-spirited POS the user-group isn't short of them.
-- Bill Sloman, Sydney
:
king.
mmon people. If the banks are paid to take the money it is going where all the other money they took went - into investments. It is not going to be lo aned out for small business creation/expansion or house mortgages.
I understand that's your position, but we utterly disagree. And surely even you admit the underlying purpose was 'stimulus'?
tock.
On the contrary, they've made the perfectly rationale decision to take advantage of artificially cheap money--arbitrage--in a way the policy-makers never anticipated.
In fact, the very thing policy-makers thought would spur companies to expand and invest, made the return on arbitrage more attractive than the intended behavior.
It absolutely is Barack's doing. Funding his big-spending paradigm necessitated QEx..y. The Fed doing this is how the Treasury sells (sold) 70% of their bonds, needed to fund Barack's deficits.
You must not know any old ladies who were previously depending on 4% interest from their savings accounts for their daily expenses. They might disagree with you as to whether or not something had been taken.
Oh please. Show us a SCOTUS ruling that the Federal government can lay a direct tax on savings, or even commercial deposits.
Only certain duties, imposts, and taxes--and the income tax authorized by the 16th Amendment in 1913--are authorized; all other direct taxes (on individuals) are expressly proscribed (Article I Section 9).
Cheers, James Arthur
If you *ever* want to understand their point of view, I can recommend no 90 minutes better spent than viewing the PBS documentary, "American Revolutionary; The Evolution of Grace Lee Boggs."
Meant as a glowing tribute, it shows an actual, self-professed Marxist, a community organizer, and mentor / "thought-leader" to the Chicago crowd, and people you'll know.
Her professed goal, and that of her movement, is overthrow of the United States by (violent) workers' revolution. She explains how they manipulate & divide, exploit racial, sexual, and economic tensions, etc. quite explicitly, as a tactic.
She spends her last decades in Detroit, which she specifically targets as susceptible to Marxist ideology. It worked. She personally wrecked the place with community agitation to revolution, that led directly to the 1967 Detroit riots.
Having achieved her workers' rebellion, she's perplexed that people and businesses flee, never come back, and paradise fails to emerge. So she blames capitalism--the collapse she made 'proves' the old system was unsustainable(!), and soldiers on.
It's truly amazing. The same way we spend time figuring out how to solve complex technical problems to produce products that make the world better, there is, in real life, a large group of people who dedicate every waking minute plotting ways to bring it all down. You SEE them in this film, SAYING it. Lots of familiar faces.
Cheers, James Arthur
I just heard an interview on NPR with some famous economists. He blames political inaction for the fact that people don't have enough confidence to borrow money and buy stuff, which would make everything great.
What idiots.
-- John Larkin Highland Technology, Inc lunatic fringe electronics
"Meant as a glowing tribute"? By PBS, no doubt? ...Jim Thompson
--
| James E.Thompson | mens |
| Analog Innovations | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| San Tan Valley, AZ 85142 Skype: skypeanalog | |
| Voice:(480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |
I love to cook with wine. Sometimes I even put it in the food.
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