Socialism for the 1% and the collapse of capitalism

Discussion in 'Test/Politics Board' started by NJPSU, Jul 7, 2020.

  1. NJPSU

    NJPSU Well-Known Member
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    While everyone is distracted by statues and pro football team names, the Fed is taking over the world and ending capitalism and free markets.

     
  2. JR4PSU

    JR4PSU Well-Known Member
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    "Fed is taking over the world"

    Everyone loves a little hyperbole now and then. But it seems standard fair with the left.

    I certainly don't disagree that the Fed pumping has been beyond excessive, but "taking over the world"? Just a tad over the top, no?
     
    psuted, bdgan and m.knox like this.
  3. NJPSU

    NJPSU Well-Known Member
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    The federal reserve is the most powerful body in the world and they answer to no one.
     
  4. crazyivan77

    crazyivan77 Well-Known Member
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    Look at you, going all Libertarian.
    When they pumped Barry’s market, he was a wizard. When they pump Donnie’s market, they are a dangerous unbridled force.
     
  5. m.knox

    m.knox Well-Known Member
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    MORE RIGHTWING TERRORISM!!!
     
  6. m.knox

    m.knox Well-Known Member
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    And democrats like you want to keep it that way.... Funny shit....
     
  7. m.knox

    m.knox Well-Known Member
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    This is the reason why @NJPSU remains the board jester. It's like he's wrong all the time.
     
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  8. jrs1024

    jrs1024 Well-Known Member
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    Congress could end them tomorrow if they wanted.
     
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  9. bdgan

    bdgan Well-Known Member
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    The EU is doing the same thing
     
  10. JR4PSU

    JR4PSU Well-Known Member
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    "the most powerful body in the world".

    See? More hyperbole on top of hyperbole.
     
  11. WeR0206

    WeR0206 Well-Known Member
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    You're completely clueless. The Fed was created by Congress and it can be ended by congress. Also the fed has no say on what $ goes where, that is fiscal policy decided by congress. The fed simply acts as the bank for the treasury making and receiving all payments.

    The only thing it has autonomy to do is add/drain reserves in order to hit its overnight interest rate target. It doesn't net add anything to the money supply it simply shifts assets around from one type to another (reserves to bonds, bonds to reserves, etc.) to hit it's rate target.

    IOW it floats the supply of money while targeting an interest rate.
     
    rumble_lion likes this.

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