"Thus the Fed and the Administration are indeed working together on an economic policy. Unfortunately, they are working on an economic policy that will produce double digit inflation and trillion dollar federal deficits as far as the eye can see. However, that is not their worry. Bush leaves office next January, and will have maximized the slim probability of electing a Republican successor. And the Fed will no doubt succeed, as it has so often in the past, in blaming somebody else for its mistaken policies."
because of the German "hyperinflation" in the 1920's, most governments were most afraid of that back then BUT the worldwide depression in the 1930's, with it's social unrest, showed that given the choice of depression and inflation, they were better of politically with inflation because that really only hurts savers and retirees.
unfortunately for me, I'm a retiree who was a saver.
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I think the last sentence says it all.....
"Thus the Fed and the Administration are indeed working together on an economic policy. Unfortunately, they are working on an economic policy that will produce double digit inflation and trillion dollar federal deficits as far as the eye can see. However, that is not their worry. Bush leaves office next January, and will have maximized the slim probability of electing a Republican successor. And the Fed will no doubt succeed, as it has so often in the past, in blaming somebody else for its mistaken policies."
because of the German "hyperinflation" in the 1920's, most governments were most afraid of that back then BUT the worldwide depression in the 1930's, with it's social unrest, showed that given the choice of depression and inflation, they were better of politically with inflation because that really only hurts savers and retirees.
unfortunately for me, I'm a retiree who was a saver.
Bush leaves office next January, and will have maximized the slim probability of electing a Republican successor.
Rink
-please take a look at Hillary's idea on how to save housing (it more or less destroys incentive for a bank to make a loam).
-please take a look at Obama's tax ideas
before you say that there's no way a republican can win 08. i actually think that both DNC candidates would get hammered in debates by either romney or mccain
john mccain will be our next president
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Bush leaves office next January, and will have maximized the slim probability of electing a Republican successor.
Rink
-please take a look at Hillary's idea on how to save housing (it more or less destroys incentive for a bank to make a loam).
-please take a look at Obama's tax ideas
before you say that there's no way a republican can win 08. i actually think that both DNC candidates would get hammered in debates by either romney or mccain
if nuclear war is good for business, then I guess that would work.
as for -please take a look at Hillary's idea on how to save housing (it more or less destroys incentive for a bank to make a loan).
I think the banks freezing their subprimes where there at would allow those owners that have the cash flow to make the payments at current levels would be a "win-win" situation for all parties involved. the banks wouldn't have to eat the defaults that will come from raising rates and it would help the decline housing prices because less property would be dumped on the market. her in Las Vegas,
there are thousands of home owners that have a decent job and can afford to stay in their home unless the rates jump. THEN it's not worth holding on and they will default.
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john mccain will be our next president
if nuclear war is good for business, then I guess that would work.
as for -please take a look at Hillary's idea on how to save housing (it more or less destroys incentive for a bank to make a loan).
I think the banks freezing their subprimes where there at would allow those owners that have the cash flow to make the payments at current levels would be a "win-win" situation for all parties involved. the banks wouldn't have to eat the defaults that will come from raising rates and it would help the decline housing prices because less property would be dumped on the market. her in Las Vegas,
there are thousands of home owners that have a decent job and can afford to stay in their home unless the rates jump. THEN it's not worth holding on and they will default.
His whole premise is that banks should raise their interest on their accounts to clients so that people save more. how exactly would a bank do that - umm... by raising the interest rates on their loans to borrowers. To me that seems like throwing the baby out with the bath water - and would certainly be a position that a bear would advocate b/c it would raise interest rates and, thereby slowing the economy in general.
I wouldn't argue that the US economy has it issues but this guys idea seems completely far fetched and ignores the fact that the US savings rate number is poor stat to cite in that it ineffectively incorporates large sectors of the economy.
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His whole premise is that banks should raise their interest on their accounts to clients so that people save more. how exactly would a bank do that - umm... by raising the interest rates on their loans to borrowers. To me that seems like throwing the baby out with the bath water - and would certainly be a position that a bear would advocate b/c it would raise interest rates and, thereby slowing the economy in general.
I wouldn't argue that the US economy has it issues but this guys idea seems completely far fetched and ignores the fact that the US savings rate number is poor stat to cite in that it ineffectively incorporates large sectors of the economy.
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