It really has been an awful few years for the Federal Reserve and they should thank their lucky stars that most of the time the general public and its elected officials have absolutely no idea what the Fed is actually saying and doing. It also helps that nobody seems to care that many of Fed’s leaders trade on inside information or speak to and potentially give material non-public information to a select groups of individuals. Remember the Seinfeld episode where George gets fired for having sex with the cleaning lady on his desk in his office.
Maybe it wasn’t the Feds job to control inflation after the fact since it was mostly price gouging and overspeculation, which was caused by the Fed injecting unneeded trillions of dollars to the capital gains class. And yes price gouging is incentivized with supply chain issues to hide behind and lots of new money that can be serviced as debt if they raise prices.
Still it’s not the Feds job to stop price gouging. Seems like anti-price gouging measures and capital gains taxes would’ve been the better route.
Plus the Fed not injecting non-household funds in the first place. Regular household consumers still needed money, since they’re not the cause of this inflation (past 2% anyway).
We seem to be living at a unique time in history. The last 100 or so years has seen numerous tech advances in many aspects of our lives.
Profound advances in communications technology (the interweb being a culmination of that it seems) has linked the entire planet arm in arm. On the other hand, human morality has failed to advance at all. In fact I believe it's obvious to anyone with two eyeballs and a functioning brain that humanity has regressed in many ways. The greed and lack of compassion shown by those in leadership or executive roles is the norm. To expect these people to change or reverse course is simply naive, they have a system rigged in their favor. This system has taken decades to put together.
Truman warned of the Military Industrial Complex almost 80 years ago. Now the MIC determines foreign policy and, possibly, news coverage. This is the "kicked can" everyone's been talking about for 50 years finally running out of road. We all feel it. I know I do. As Jim Morrison so aptly sang, "This is the End, beautiful friend. This is the End. My only friend, the End. Of our elaborate plans, the End. Of everything that stands, the End. No safety or surprise, the End." It's very hard to accept the reality of the situation we all find our selves in. On an emotional level I find the insecurity of it all to be almost crippling at times. Intellectualy it's easier to accept because of the great reporting by you and Taibbi, Greenwald, Russell Brand, John Oliver, etc. Logic dictates that cause will result in an effect, we are living at the point where all the effects come due. Decades of short sighted leadership worldwide, and greed being placed above all moral reason has given birth to the '20s. It's going to hurt.
“The way the Fed funds these purchases is with the excess reserve accounts held by the big banks who sold the Fed the Treasuries and MBS”. I don’t understand. The Fed buys Treasuries and MBS from banks using the bank’s own money?
...and don't forget, "George" also gave her the cashmere sweater that had an imperfection!
Maybe it wasn’t the Feds job to control inflation after the fact since it was mostly price gouging and overspeculation, which was caused by the Fed injecting unneeded trillions of dollars to the capital gains class. And yes price gouging is incentivized with supply chain issues to hide behind and lots of new money that can be serviced as debt if they raise prices.
Still it’s not the Feds job to stop price gouging. Seems like anti-price gouging measures and capital gains taxes would’ve been the better route.
Plus the Fed not injecting non-household funds in the first place. Regular household consumers still needed money, since they’re not the cause of this inflation (past 2% anyway).
We seem to be living at a unique time in history. The last 100 or so years has seen numerous tech advances in many aspects of our lives.
Profound advances in communications technology (the interweb being a culmination of that it seems) has linked the entire planet arm in arm. On the other hand, human morality has failed to advance at all. In fact I believe it's obvious to anyone with two eyeballs and a functioning brain that humanity has regressed in many ways. The greed and lack of compassion shown by those in leadership or executive roles is the norm. To expect these people to change or reverse course is simply naive, they have a system rigged in their favor. This system has taken decades to put together.
Truman warned of the Military Industrial Complex almost 80 years ago. Now the MIC determines foreign policy and, possibly, news coverage. This is the "kicked can" everyone's been talking about for 50 years finally running out of road. We all feel it. I know I do. As Jim Morrison so aptly sang, "This is the End, beautiful friend. This is the End. My only friend, the End. Of our elaborate plans, the End. Of everything that stands, the End. No safety or surprise, the End." It's very hard to accept the reality of the situation we all find our selves in. On an emotional level I find the insecurity of it all to be almost crippling at times. Intellectualy it's easier to accept because of the great reporting by you and Taibbi, Greenwald, Russell Brand, John Oliver, etc. Logic dictates that cause will result in an effect, we are living at the point where all the effects come due. Decades of short sighted leadership worldwide, and greed being placed above all moral reason has given birth to the '20s. It's going to hurt.
“The way the Fed funds these purchases is with the excess reserve accounts held by the big banks who sold the Fed the Treasuries and MBS”. I don’t understand. The Fed buys Treasuries and MBS from banks using the bank’s own money?