Posted on 09/23/2022 9:27:09 AM PDT by RandFan
@RepThomasMassie
Bless your heart if you think you live in a Democracy or even a Republic, when in fact, the unelected “Board of Governors of the Federal Reserve System” can intentionally destroy the value of your house and wreck your job prospects with one pronouncement based on secret math.
(Excerpt) Read more at twitter.com ...
I disagree with Massie on one point: I don’t think they using ‘secret math’ or math at all.
I disagree.
By themselves, the FED does not have that power. That power, to really effect the economy, came from US Government debt. Think about it, our debt is Fed Power.
Our Politicians gave the Fed that power by overspending.
While I don’t disagree with his criticism, at least with the Fed (1) the direct relationship between their actions and the consequent effect on the economy is widely understood; (2) there is, as a result, a lot of attention paid to their actions.
Neither of those things are true for most of the rest of the non-elected bureaucratized deep state. So that worries me much more.
Didn’t occur to him to gather Congress and stop it.
Agreed. Imagine this too, it’s unelected bureaucratized globalist elitists’ that are pushing the Great Reset, transhumanism, etc. Mind-numbing.
Fed controls the rates I think this is what he’s alluding to.
The “System” is going down one way or another..
50 to 75 years from now the book “The Rise And Fall Of The United States” will describe how the creation of the Federal Reserve was the beginning of the US decline and also how/why taking the US dollar off the gold standard was the fatal self-inflicted wound.
“The Rise And Fall Of The United States”
Oh yes. You’ve been hollowed out by bankers.
It’s a perverse system. One day people will wake up and realize. I think that could be soon..
He’s good as a critic, but what is his solution? Keep 0% interest rates and the attendant hyper inflation?
The Federal Reserve is a Soviet-style central planning agency.
Not secret math.
Watch how M1 etc and government debt work.
Print $4 trillion and continue to pile on $2 trillion debt each year, and what you got?
Inflation.
And it won’t stop for at least 2 years.
Unfortunately, the Fed got behind the curve. Probably do to the Rona.
5.56mm
The problem with Massie’s uninformed logic (and possibly yours) is that it was the elected officials of the Democrat party that destroyed the housing values and job prospects. The Fed is simply responding to that failure by doing what’s necessary to stop it.
Who is responsible for 0% interest rates in the first place? Rates that could only lead to the current inflation problem.
The fed is greatly responsible for it all. Without their tampering then we as a country would simply ride a wave of more moderate ups and downs. But now we face devastation.
If you want to control policy the USA today, Congress is useless.
You use lawfare. You charge them with crimes (you can always find one), tie them up in court, and embarrassing investigations and headlines, bankrupt them via the legal process, destroy the public reputation of the institution and the individuals who lead it.
Its cynical and ugly, but its how America works.
But, to do that, you need to control the DOJ..... get it?
Pretty much true. The only thing worse than 10% inflatin is a 10% unemployment rate.
Raising interest rates to fight inflation is evil. There are other better ways to do that.
The spending is causing high inflation and not low interest rates.
They're trying to keep our financial system from collapsing due to inflation, so no. But you can beat them up for overstimulating the market and not being punished for it.
Part of that is true. Trump attacked him in 2020 for not wanting to spend trillions of dollar and go more in debt. The R’s and D’s hate America.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.