Was the Fed created by democrats or Republicans?

[Foxfyre]

Smoothing ≠ preventing.

Not even a little.

Your opinion. But I read the articles.

 

[Toddsterpatriot]

They'll never hike rates to where they should be in a genuine free market.

All they're doing is raising them just enough to where it will cause stagflation.

This stuff isn't rocket science, Toddster. It's predictable.

Watch and see...

At the end of the day, there are no man-made "policies" that have the capability of revoking economic laws. The market will always decide fate. Always....

What would the free market overnight rate be?

How do you know?

At the end of the day, there are no man-made "policies" that have the capability of revoking economic laws.

Which economic laws is someone trying to revoke? Link?

 

[Toddsterpatriot]

Your opinion. But I read the articles.

If you have any articles from 1913 where they talked about the Fed
"preventing recessions", I'll be happy to read them.

 

[Foxfyre]

If you have any articles from 1913 where they talked about the Fed
"preventing recessions", I'll be happy to read them.

Some people would pick a fight over what to have for breakfast. Do have a pleasant afternoon and evening.

 

[BackAgain]

What does an article with 2014 numbers have to do with their 1994 bankruptcy?

Come on. Read it.

 

[BackAgain]

Winning in court doesn't turn my liability into debt.

Wrong. If the court interprets your promise to pay as a contractual agreement, and says you breached the contract, your promise to pay becomes the baseline for what you owe in the breach.

 

[Toddsterpatriot]

Come on. Read it.

Their 2014 pension liabilities did not cause them to declare bankruptcy in 1994.

 

[Toddsterpatriot]

Wrong. If the court interprets your promise to pay as a contractual agreement, and says you breached the contract, your promise to pay becomes the baseline for what you owe in the breach.

Still doesn't make it debt.
What if the court allows you to not pay?
Is it debt then?

 

[Oddball]

I am no expert by any stretch of the imagination on this topic. However, I suspect that the Fed started off as a notion of promptly addressing immediate fiscal and monetary problems in our economy upon the belief that Congress itself is too slow and cumbersome to be reactive fast enough.

That was the surface rationale given, but not the real reason.

I believe this is the same underlying concern that allowed for the war powers act. (That is, since Congress is slow and cumbersome and some military actions urgently require responses before Congress can even meet, Congress delegates part of their exclusive war powers to the Executive on a “temporary” basis.)

Note: I’m not defending either of those things, here. I just assume the rationale is similar.

Check out the source material in #5.....Everything is there, in language that a high schooler can understand (no offense).

Everything NC has been saying is 100% factual, and the details are all there.

 

[CrusaderFrank]

15 recessions in 56 years.
How many have we had in the last 56 years? (8)
What was their average length? (10.6)

I agree, Harding, Coolidge and Reagan are better than anyone we've had since.

You sounds like there's a manmade global warming answer to the economy: if we turn over all control to the government, it will all go back to normal

 

[Oddball]

You sounds like there's a manmade global warming answer to the economy: if we turn over all control to the government, it will all go back to normal

Or the commies who insist that it can work if only the right commies are running the show.

 

[BackAgain]

Their 2014 pension liabilities did not cause them to declare bankruptcy in 1994.

The bankruptcy put the pensions at risk.

 

[BackAgain]

Still doesn't make it debt.
What if the court allows you to not pay?
Is it debt then?

If the court says that there was no detrimental reliance, then there would be no breach of contract and no judgment for the pensioners. How could that be a debt?

 

[BackAgain]

No. The county Treasurer bought some bad investments.

Yes. They declared bankruptcy.

 

[BackAgain]

No it isn't. I promise to give you $1 million in 10 years.
What interest rate am I paying on that "debt"?

Absent consideration, there is no contract. So a mere promise is if no value.

 

[Toddsterpatriot]

You sounds like there's a manmade global warming answer to the economy: if we turn over all control to the government, it will all go back to normal

You're hearing wrong.

 

[Toddsterpatriot]

The bankruptcy put the pensions at risk.

So if they declare bankruptcy, they could discharge their pension liability?

 

[Toddsterpatriot]

Yes. They declared bankruptcy.

Yes, because of their investment losses, not because of their pensions.

 

[Lastamender]

Wilson was a Democrat.

 

[BackAgain]

So if they declare bankruptcy, they could discharge their pension liability?

That’s the risk. And people receiving the county government pension were plenty scared.