Posted on 03/16/2011 10:50:11 AM PDT by mewykwistmas
New York Fed President William Dudley got an earful this week at town-hall style meeting in Queens earlier this week. When the former Goldman Sachs chief economist tried to explain why the Fed looks at "core" inflation, which excludes food and energy, he drew a hostile response, according to wire service reports.
"You have to look at the prices of all things," Dudley said. "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful." ...... "The top 1% is cut off from the rest of society," he says in the accompanying video. "They don't know what's going on in America anymore. For them life couldn't be more booming [but] it's falling apart" for ordinary Americans.
"What we're seeing is the top [1%] is winning in international markets, winning in the bailouts, winning in government favors and winning in tax cuts," he says. "It's win-win-win."
(Excerpt) Read more at finance.yahoo.com ...
True. But fascism (Adam Smith called it mercantilism) has been the endemic disease of the American economy ever since Alexander Hamilton. Henry Clay and Abraham Lincoln were among its chief proponents in the first half of the 19th century. Herbert Hoover, as Secretary of commerce, pushed for it in the 1920s. The New Deal, especially the National Industrial Recovery Act, was straight out of Mussolini's playbook.
We have a lot of work to do to undo the damage those people did.
This guy is a left-wing nutcase promoting the dogma of the class warfare message that started with the bolshevik rise to power. Entitlements and cost of big government are busting the economy, not low taxes. More taxes to feed the greed of the biggest consumer of our labor, which is not the rich or big business, but big government. Entitlements are sucking up 60% of the budget and this idiot says the rich need to pay more, meaning more private sector jobs leave to feed the greedy politicians. SPENDING OUT OF CONTROL BY AN ABUSIVE AND GREEDY GOVERNMENT IS THE ISSUE.
Sachs is a moron. Raising taxes only strengthens the hold of the Political Class.””
Nailed it. 50% of my income already in taxes to fill the pockets and spending habits of greed- and power-crazed politicians who constitute big government and jackass Sachs is pointing the finger to fuel class warfare within the private sector who feed this monster.
See you have just recently migrated from the DU and begin by stirring up class warfare in the private sector.
The Fed has been stealing your wealth at an average rate of 4-6% a year for nearly 100 years now... Those are the facts jack.
Only difference is now they aren’t happy settling for that paltry theft, and are going for the throat.
The Federal Reserve Bank needs shuttered and disbanded, it is, has and always will be a sham.
“See you have just recently migrated from the DU and begin by stirring up class warfare in the private sector.”
What private sector? Which banks are really private?
Lots of small town banks are family owned.
### Only difference is now they arent happy settling for that paltry theft, and are going for the throat. ###
And with Vampire-Care, Lobby Nation, now has several thousand pages of Durable Power of Attorney over the individual, with themselves exempt.
“Lots of small town banks are family owned.”
And they were the ones that didn’t a bailout because they are not run by greedy scum. USA should have taken 99% equity on every bank needing a bailout, the same thing a bank does to a wounded competitor.
You obviously have no concept of the loan business. Govt regulations forced bad loans to unqualified minorities and others. The politicians and their regulations set the stage for collapse.
“You obviously have no concept of the loan business. Govt regulations forced bad loans to unqualified minorities and others. The politicians and their regulations set the stage for collapse.”
Failure to point the finger at government regulation setting/forcing the stage for banks, loan institutions, to make loans to poor-risk minorities, and other selected members who had no intention of paying money owed to others—hey “the money was owed to me—part of reparations.” The banks ditched these loans asap since they recognized they were toxic. Just because your prog/lib opinion of private business paints all bankers as crooks does not make it so. What business are you in?
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