Kansas radiator plant closing (More jobs lost to NAFTA)

The Centre Daily Times ^ | Mon, Jul. 25, 2005 | Associated Press

[Toddsterpatriot]

The question is why he thought this to begin with? He was an insider on the outside. So much for a big brain.

A lot of people thought Y2K would be a huge mess. He wasn't the only one. He was the only one who could boost the money supply.

[WHBates]

I'm sorry but that is BS. Nobody that worked in computers thought that there would be a huge mess (small problems, yes). He had to know this or his analyst needs to be fired. Sorry but that is a fact and everyone in the industry understood it.

[Toddsterpatriot]

I'm sorry but that is BS. Nobody that worked in computers thought that there would be a huge mess (small problems, yes).

Nobody thought there would be a problem? So what was all the billions and billions spent to fight the problem?

[WHBates]

"Nobody thought there would be a problem? So what was all the billions and billions spent to fight the problem?

Lots of folks made lots of money on the entire situation. In fact...... well never mind. There were lots of issues involved but bottom line is that it was a CYA issue that the FED covered and made vendors lots of money instead of costing them lots of money. LOL

[Toddsterpatriot]

Lots of folks made lots of money on the entire situation.

Lot's of money for no problem? Hmmmmm.

[WHBates]

"Lot's of money for no problem? Hmmmmm."

I'll bet the cost difference between the Y2K studies (great money) to actual problems found/resolved was big. Do you know the actual statistics?

[Moral Hazard]

" You really don't know what your talking about. LOL But I'm sure you think you do."

The process I described is exactly how I got my current job.

[Moonman62]

Are you trying to imply that the Fed uses the Discount Window as the primary means to adjust the money supply? That's not true today, and it especially wasn't true in 1999/2000.

[Toddsterpatriot]

Are you trying to imply that the Fed uses the Discount Window as the primary means to adjust the money supply?

No. The Fed adjusts the money supply by adjusting bank reserves.

The Federal Reserve uses open-market operations to either increase or decrease reserves. To increase reserves, the Federal Reserve buys U.S. Treasury securities by writing a check drawn on itself.

[Moonman62]

Well, we agree on that, but it takes us right back to where we were. The amount of reserves relative to the reserve requirement determines the funds rate. Banks with a bit more than the requirement will loan the excess and banks with a little less than the requirement will borrow.

The Fed can change the reserve requirement to influence the money supply but that's rarely done. Japan's central bank did that recently, but their funds rate was near zero.