But at some point we need to break up the Monetary cartel.
Multiple countries are printing money to cover debts, because it's easier than raising taxes directly...
Democrats and Republicans in Congress have had their own domestic "cartel," -- log rolling subsidies to each others' special interests in deficit spending budgets - for decades. We log rolled right off the cliff - we are running out of runway.
I sense the credit markets are perilously over extended. 0% Fed interest rates? Those rates do U.S. savers no good.....
All this Let's play Nice-Nice talk I hear now on all the news channels, Fox News & Fox Business Channel included, kinda sickens me. Here comes another push for "QE" money printing, instead of actual reform.
WE HAVE HAD STRONG ECONOMIC GROWTH UNDER TRUMP. THAT'S GREAT, BUT GUESS WHAT: "TRADITIONAL" MACRO POLICY TELLS US THE FEDERAL GOVERNMENT WILL ACCUMULATE A FEDERAL SURPLUS DURING THE GOOD TIMES, TO BE USED TO "STIMULATE" THE ECONOMY DURING TIMES OF LOW OR DECREASED DEMAND. WHERE IS THAT SURPLUS? IT NEVER HAPPENED. DID IT. FOOL US TWICE, SHAME ON US.
Thanks for writing :)
“But at some point we need to break up the Monetary cartel.”
Don’t get me wrong; I would love to break that up - I’m more of a physical gold standard type myself - abolish the Fed.
I know it seems like President Trump is “kicking the can down the road” - I really don’t think so. I am sure he would love to replace the Fed with something accountable to We the People.
But we are so far from forming a consensus among economists on this subject. If anything, the consensus supports the status quo and the President has to work within this reality. That means interest rate parity with our trading partners.
If the other side fights dirty, we should either fight dirty or quit the game. Playing by the rules when the other side is cheating is just stupid.