Announcement

Collapse

Forum Rules - You must read(Updated!)

DISCLAIMER

You agree to NOT use this site or its affiliated sites, services you may have access to as a result of being a member here (subscriber or otherwise), to post items (images, textual material, etc.) that are pornographic in nature, illegal in the United States and/or the country you reside in, support or encourage illegal activities (e.g., terrorism), advertise for your own personal profit, or send unsolicited messages (i.e. SPAM) to members or non-members.

AND

You agree that if any clause or component of this document is found to not be legally binding in a court of law of proper jurisdiction then the remainder of this document shall remain fully binding and in full force.

AND

You agree to NOT hold Jelsoft Enterprises Ltd. (makers of the forum software), uspoliticsonline.com, sites affiliated with uspoliticsonline.com, its administrators, its moderators, others associated with its operation, and its owners liable for any and all of the following (in whole or in part):
Personal insults/attacks by other members.
The content posted by other members, whether directed at you personally or a label/classification you associate with. This includes remarks you consider to be libelous or slanderous in any way.
Any financial or time loss due to your participation here or as a result of something you read at this site, including posts/PMs by other members and feature(s)/software available at the domain uspoliticsonline.com.
The dissemination of any personal information about you as a result of either your negligence (e.g. staying logged into a computer that others have access to) or willingness to post such information on a public and or private forum, private message or chat box. This includes using your real name or other details that could allow other members and/or the general public to determine your true identity. You are prohibited from using your real name on these forums, either as your username or in posts / PMs you write.

FORUM RULES, IN ADDITION TO THE DISCLAIMER

1. These rules apply to all sections of USPOL, including public and private forums, blogs, and visitor messages.

2. You cannot attack and/or personally insult someone. You cannot bait other forum members; this includes referring to posters by derogatory terms. Please, remain courteous and respectful to all forum members at all times. You agree to take responsibility for reporting such posts when you come across them. Please, use the ignore feature if need be. Any member who intentionally and continually posts inflammatory, extraneous, or off-topic messages with the primary intent of provoking readers into an emotional response, or of otherwise disrupting normal on-topic discussion, may be regarded as a “troll” by staff, and have their account suspended or banned.

3. You cannot harass (sexually or otherwise) other members. This includes malicious, slanderous, or defamatory comments. If you are not sure if something you write is inappropriate or not then don't say it. Err on the side of caution.

4. Copying and Pasting Articles, and Starting New Threads. You cannot simply cut and paste in posts or when starting threads. You MUST provide the identifying information (source, author, date, and URL). You must also offer some original thoughts along with the cut and paste. You may copy and paste an excerpt or series of excerpts from the article. Excerpts really shouldn’t be more then a paragraph or two. Furthermore, if you use images or other copyrighted material in your posts or signature you must have permission of the copyright holder unless you know for a fact that the image is in the public domain. In addition:
a. It must include the identifying information; e.g., where available, the author, the publication, the date, the URL.
b. The member must offer some context, including: How did you hear of this article? What is your opinion? Why is it important to you? Why should it be important to forum readers? The more context you provide, the more you assist others in gauging the excerpted information's significance.
c. You may copy and paste an excerpt or series of excerpts, not the whole thing or even the majority of the whole thing to encourage people to read the entire article.

A violation of any of the above will result in the deletion or closing of the post or thread and could earn you a warning or suspension. If you have any questions concering any of the above please PM a moderator and we will be happy to clarify.

5. You cannot post the same thing in multiple forums. You must not open similar threads about the same or a similar topic. You cannot spam the board or send unsolicited messages to members via PM, email or any other means.

6. Do not post off-topic. You cannot derail a thread with off topic posts.

7. You cannot shout in posts. This includes posting in all CAPS, bold, lIkE tHiS, and extra large font. Posts should also be one color, although you may use an additional color for highlighting ideas you wish to address.

8. You may not alter quotes in a way that misrepresents what was originally said.

9. Multiple accounts are not allowed. If you are found to have more than one account all accounts will be permanently terminated.

10. You cannot have a user name, avatar, signature, or post images that are deliberately offensive. That includes the display of overly explicit or graphic images that may not be suitable for minors.

11. Signatures can not have more than three lines of text, with a font size no larger than "4", and no more than two font colors. Images in signatures cannot be any larger than 800 pixels wide x 200 pixels tall. Animated images are not allowed.

12. You are prohibited from taking any action to disturb the use of the services by others, distribute material that contains viruses, spyware or any other malicious code or harmful programs. This includes interfering with the working of the network, attempts to gain unauthorized access to a service or other computer systems that are part of the site or any other site, by use of the available services.

13. Discussion of moderation actions in public and/or private forums is not permitted. Moderation actions include warnings, suspensions and the editing or deletion of posts. If a member has a concern about a moderation action, he or she is invited to address it with the board staff via Private Message. This rule exists to protect the privacy of all posters with regards to disciplinary action. The moderator team will never publicly discuss the warnings/suspensions of any posters, and we ask that you return the favor, whether about yourself or another poster. Posting about moderation actions in the public forums constitutes a violation. You are free to discuss a moderation action via Private Message with the moderator involved, but you may not harass or abuse the moderators (as already specified in the forum rules). In practical terms, this means that once a moderator tells you his or her decision is final, no further PMs about that moderation action are permitted. If you have a concern about a moderation action, you are free to appeal to a Forum Administrator via Private Message. You may only discuss moderator activities or discussion of moderation with staff member if you chose to private message and are not under any circumstances allowed to use the PM function to forward or promote moderator discussion in regards to specific forum action, amongst other regular members. Administrators do reserve the right to read said PMs and may do so ; if that results in discovery of messaging between posters of such moderator discussion then it will lead to the same violation being received for discussing said moderator actions on the forum. If you receive a message to the effect of having been given moderator information, please report it to a member of staff. Engaging back in that discussion with the original violator will earn you just as stiff a sanction.

14. Do not ignore moderators or administrators. Do not repost something a moderator or administrator has deleted. You cannot have moderators or administrators on your ignore list.

15. Only post in English. Short passages in foreign languages may be acceptable if its use seems helpful for the ongoing discussion and when there is no indication of a potential violation of the forum rules. Always provide a translation into English in such cases. In case of doubt, the incident will be regarded as a violation, no matter of the actual meaning of the foreign language text.

16. The use of words/comments etc. written by other posters, without approval of the poster in your personal signature is not allowed nor are references, by name, to other posters allowed.

17. Please pay attention to announcements by Forum staff that will be found in the "Welcome! / News & Announcements" forum from time to time.

18. Use of "liar", "lies", "lying", etc. Accusing someone of being a "liar" or similar accusations towards other posters will generally be regarded as implying an insult and therewith as a violation of the forum rules. "I question the validity of your statement because...", "That's not the truth" or "you are wrong about that" are sufficient for any decent discussion if you want to disagree with somebody's assertions.

19. Thread opening restriction for new members. In order to control SPAM, new members must have moderator approval to start their own threads.

20. Thread titles must relate to the discussion within. Do not make misleading titles, or titles such as "Guess what..." or "You'll never believe this...". Members need to be able to identify the general gist of the thread via the title. Profanity in thread titles is not permitted.

21. Forum members are instructed to use forum tools and abilities for their intended purposes and no other. If members identify a forum glitch or weakness of any kind that allows you to see or do something you know you shouldn't, please report it. Being aware of any unintended access to the Forum and failing to take appropriate steps to notify staff of said access issues, will create a presumption of seeking to take advantage of the issue, will result in either account suspension, or banishment.

22. Any link to a site that contains graphic content, must contain a warning describing what a person might reasonably expect to view if they click on said link. No graphic pictures are to be posted on the Forum.

23. Threats or advocations of violence toward a public figure, or member of the Forum, will not be tolerated. Conversation about revolution or the like is not prohibited by this rule; directly calling for violence is, eg “It's time to kill every <redacted> that voted for the bill,” is not permitted.

24. Accounts with no posts will be deleted after 30 days. Inactive accounts with low post histories may be deleted after one year.

25. Private forums are something offered to members that decide to contribute directly to this site via donations. These donations help immensely in keeping this site up and running. Private forums are designed to allow the contributing member discuss whatever he/she wants to and to have the power to direct that discussion in whatever way he/she chose. They were not designed nor are they intended for simply talking trash about members that don't have access to the forum. While the targeted members cannot see the forum or the comments, it creates a negative atmosphere that really isn't necessary. If you want to totally rip apart ideas, ideologies, political parties, etc. that is fine. We simply ask that you don't use the private forums as a means to attack other members that aren't privy to such comments. It is difficult enough to have a political discussion forum because the discussion of politics is inherently heated as people are so passionate about their beliefs...the ones that take the time to come to such a site in the first place at least. The idea of private forums is so people of similar political persuasions can discuss whatever they want without fear of being attacked. Nonetheless, we hope that a certain level of maturity would foster itself within such an arena and not simply lend itself to a bashing forum.

Private Forums are governed by all of the above Forum rules. In addition:
  • Private forums that essentially become abandoned homes will be subject to deletion, donation or reorganization. Just like elsewhere in life, clubs sometimes lose their vitality and purpose for a myriad of reasons. If it becomes clear that a private forum has clearly lost its vitality and nobody is going to really use it anymore, owners are advised to consider whether to reuse the forum for something new and productive rather than let them linger or notify the Administration that the forum should be rearranged for other purposes, closed, merged with other compatible private forums, donated to others for new purposes, etc. Do not be concerned that your forum must be a membership and post count race with others to avoid falling under this policy; the question is whether your forum has actual vitality instead of being 'brain dead.'
  • Additionally, private forums may only be owned by subscribed members in the Platinum or Diamond categories.
  • Should the owner of a private forum be banned, quit USPOL or otherwise abandon the forum the PF will be transferred to another owner or closed.
  • Propriety of private forums. Administration staff will determine the desirability of a proposed private forum and enact any conditions upon it to ensure its purpose is productive.
  • Any and all instances of sharing accounts by allowing someone else to log in under their own account so they can see into private forums for which they are otherwise not permitted to access, will be deemed violation of the double account rule and all caught doing so will be permanently banned.
  • Relaying private forum posts and information to other posters who are not members of the particular private forum for any negative or destructive purpose (eg mean-spirited gossip, fueling interpersonal disputes, etc), is not permitted, and will constitute a violation of the Forum rules.
  • For purposes of monitoring USPOL Terms of Service Administrative staff (not Moderators) will have access to Private Forums.
  • All Private Forums must have at least one active Administrator as a member for purposes of handling issues which cannot be addressed through moderation permissions.
  • Discussion of moderation activities is prohibited on the open site and is likewise prohibited in Private Forums.

26. The administrators and moderators reserve the right to edit and/or delete a post,and/or close a thread, and/or delete a thread at any time if of the opinion that the post is too obscene, inappropriate, or the discussion has run its course.

27. 'Back seat moderating' is not allowed. If you take issue with another poster's contribution to the forum, you're welcome to report any posts you think are out of line, but you should not bring it up publicly within the forum.

28. Images in posts (whether embedded or hot linked) must be reasonable in size. 800x800 should be considered a good rule of thumb. Excessively large images make it difficult for users on mobile devices to load pages. If necessary please simply link to very large images using the URL tags. In addition, the following images are not permitted (including, but not limited to pages with images or videos containing):
  • Strategically covered nudity
  • Sheer or see-through clothing
  • Lewd or provocative poses
  • Close-ups of breasts, buttocks, or crotches

29. Any solicitation or communication involving sports betting / gambling / online casinos / bookies and or internet based card or slot machine systems or sites will lead to all said content being physically removed from the site and server, and will lead to any and or all parties involved being permanently removed and banned from the site to the farthest extent possible. This includes any links to any form of bookmaker, casino, any type of game or match or event where money transfers on the outcome or link of any sort to wire act violations and or anything in violation of either the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, Unlawful Internet Gambling Enforcement Act of 2006, or the Federal wire Act. This applies not only to the open forum but all and or any chat rooms, articles, private messages and or private forums. All content that violates this rule will be deleted, without notice.

CONSEQUENCES

Failure to comply with any of the forum rules may result in your posts being edited or deleted and/or your account being temporarily or permanently banned from the forums. U.S. Politics Online uses a warning system that generates an automated Private Message to members when they are in violation of Forum rules. The decision to issue a warning is left to the discretion of the moderator or administrator handling the violation. If a member does not agree with an action taken by a moderator, they can appeal to an administrator after seeking clarification from the moderator who issued the warning/infraction and appealing to them in the first instance. Members MAY NOT harass a moderator or administrator by sending excessive PMs when they are discussing an appeal.

Violations are assigned a point value. Points are valid for 30 days. When a members earns 10 points, their account will be automatically suspended: five (5) days for a first suspension; ten (10) days for a second suspension; and twenty (20) days for a third suspension. If a member incurs an additional 10 points after having served three periods of suspension, then they will be permanently banned from the Forum.

Point values are as follows:
Zero (0) points – Warning
Two (2) points - Minor infraction / Non post infraction (minor) / Off topic posts / spamming
Four (4) points - Academic dishonesty / Baiting / Discussing moderator or administrator actions / Implying an insult / Minor insults / Moderate infraction / Non-post infraction (moderate) / Thread dumping
Six (6) points - Direct insult at another member / major infraction / Non-post infraction (major)
Ten (10) points - Act of criminality, or advocating thereof

The administrators and moderators also bear the right to issue warnings, temporarily suspend or ban posters for continued trolling or other serious misconduct (eg. professional spamming) even if the poster has not yet reached the maximum warning points or suspensions level. Other options if the above consequences do not seem adequate include placing the member in a moderation queue, which means all posts will have to be approved before they are posted to the board.

PRIVACY POLICY

All information obtained by the end user via the registration process is for internal purposes only and will not be sold to or shared with any third parties. However, if the end user participates in illegal activities and a court of proper jurisdiction orders U.S. Politics Online to release certain information about said user then we will act according to the law. Furthermore, no information will be released on threat of a lawsuit, attempted or actual intimidation, or due to any other reason except as notated in the first sentence of this paragraph. Nonetheless, keep in mind that the information we do have is very limited and generally only consists of the IP address a member uses.

SUBSCRIPTIONS

U.S. Politics Online offers several subscription plans to help cover the operational costs of the site. As a thank you for your donation, you will receive special added benefits meant to enhance your U.S. Politics Online experience. Plans vary in price, starting at only $0.05/day, and benefits vary with the price. Benefits include ability to go straight to new posts, to search the forum, larger avatar, private forums, invisible mode, photo gallery, email, web hosting, and no advertisement banners. Please, click here for more details.
See more
See less

Conservatives' Inflation Obsession, and their Loathing of the Fed

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Conservatives' Inflation Obsession, and their Loathing of the Fed

    The extent to which conservatives don't understand economics, and the tragic results they would bring to America if they were tried is starkly revealed in their policy prescriptions following the Great Recession.

    In a time of great economic crisis, they strenuously called for exactly the wrong policies. Thank god we had a Democratic president, House, and (for a while) Senate.

    Republicans promised economic disaster if America did what it always does during a recession--borrow and spend. Fortunately we were able to pass a stimulus measure without them, which no doubt kept us from economic free-fall.

    When conservatives (conservatives/Republicans, the terms are synonymous these days) captured the House in 2010, they were able to largely close down the money spigot, which left unemployment far higher than it otherwise would have been.

    Since fiscal stimulus was no longer an option, thanks to Republicans who were either trying to sabotage the recovery on purpose or through their ignorance of economics, the Federal Reserve was the only institution left that could rescue the economy.

    So the Fed engaged in extraordinary measures. The Republicans promised that massive, massive, extraordinary inflation would result. It never came.

    So have conservatives learned their lesson? Do they now agree that the Federal Reserve bank has an important role to play in stabilizing economies? Do they admit that a gold standard is absurd?

    No. That would take an open mind.

  • #2
    Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

    Originally posted by jpn View Post
    The extent to which conservatives don't understand economics, and the tragic results they would bring to America if they were tried is starkly revealed in their policy prescriptions following the Great Recession.

    In a time of great economic crisis, they strenuously called for exactly the wrong policies. Thank god we had a Democratic president, House, and (for a while) Senate.

    Republicans promised economic disaster if America did what it always does during a recession--borrow and spend. Fortunately we were able to pass a stimulus measure without them, which no doubt kept us from economic free-fall.

    When conservatives (conservatives/Republicans, the terms are synonymous these days) captured the House in 2010, they were able to largely close down the money spigot, which left unemployment far higher than it otherwise would have been.

    Since fiscal stimulus was no longer an option, thanks to Republicans who were either trying to sabotage the recovery on purpose or through their ignorance of economics, the Federal Reserve was the only institution left that could rescue the economy.

    So the Fed engaged in extraordinary measures. The Republicans promised that massive, massive, extraordinary inflation would result. It never came.

    So have conservatives learned their lesson? Do they now agree that the Federal Reserve bank has an important role to play in stabilizing economies? Do they admit that a gold standard is absurd?

    No. That would take an open mind.

    The problem with your "thinking" is that it completely ignores reality. Here's what Milton Friedman had to say about an extremely similar event you may have heard of, called the Great Depression...

    Well, we have to distinguish between the recession of 1929, the early stages, and the conversion of that recession into a major catastrophe.

    The recession was an ordinary business cycle. We had repeated recessions over hundreds of years, but what converted [this one] into a major depression was bad monetary policy.

    The Federal Reserve System had been established to prevent what actually happened. It was set up to avoid a situation in which you would have to close down banks, in which you would have a banking crisis. And yet, under the Federal Reserve System, you had the worst banking crisis in the history of the United States. There’s no other example I can think of, of a government measure which produced so clearly the opposite of the results that were intended.

    And what happened is that [the Federal Reserve] followed policies which led to a decline in the quantity of money by a third. For every $100 in paper money, in deposits, in cash, in currency, in existence in 1929, by the time you got to 1933 there was only about $65, $66 left. And that extraordinary collapse in the banking system, with about a third of the banks failing from beginning to end, with millions of people having their savings essentially washed out, that decline was utterly unnecessary.

    At all times, the Federal Reserve had the power and the knowledge to have stopped that. And there were people at the time who were all the time urging them to do that. So it was, in my opinion, clearly a mistake of policy that led to the Great Depression.

    Now pay close attention to what this man had to say about Friedman's characterization...

    I can think of no greater honor than being invited to speak on the occasion of Milton Friedman's ninetieth birthday. Among economic scholars, Friedman has no peer. His seminal contributions to economics are legion, including his development of the permanent-income theory of consumer spending, his paradigm-shifting research in monetary economics, and his stimulating and original essays on economic history and methodology. Generations of graduate students, at the University of Chicago and elsewhere, have benefited from his insight; and many of these intellectual children and grandchildren continue to this day to extend the sway of Friedman's ideas in economics. What is more, Milton Friedman's influence on broader public opinion, exercised through his popular writings, speaking, and television appearances, has been at least as important and enduring as his impact on academic thought. In his humane and engaging way, Milton Friedman has conveyed to millions an understanding of the economic benefits of free, competitive markets, as well as the close connection that economic freedoms such as property rights and freedom of contract bear to other types of liberty.

    Today I'd like to honor Milton Friedman by talking about one of his greatest contributions to economics, made in close collaboration with his distinguished coauthor, Anna J. Schwartz. This achievement is nothing less than to provide what has become the leading and most persuasive explanation of the worst economic disaster in American history, the onset of the Great Depression--or, as Friedman and Schwartz dubbed it, the Great Contraction of 1929-33. Remarkably, Friedman and Schwartz did not set out to solve this complex and important problem specifically but rather addressed it as part of a larger project, their magisterial monetary history of the United States (Friedman and Schwartz, 1963)...

    As everyone here knows, in their Monetary History Friedman and Schwartz made the case that the economic collapse of 1929-33 was the product of the nation's monetary mechanism gone wrong. Contradicting the received wisdom at the time that they wrote, which held that money was a passive player in the events of the 1930s, Friedman and Schwartz argued that "the contraction is in fact a tragic testimonial to the importance of monetary forces [p. 300; all page references refer to Friedman and Schwartz, 1963]."

    Friedman and Schwartz's account of the Great Contraction is impressive in its erudition and development of historical detail, including the use of many previously untapped primary sources. But what is most important about the work, and the reason that the book is as influential today as ever, is the authors' subtle use of history to disentangle complicated skeins of cause and effect--to solve what economists call the identification problem. A statistician studying data from the Great Depression would notice the basic fact that the money stock, output, and prices in the United States went down together in 1929 through 1933 and up together in subsequent years. But these correlations cannot answer the crucial questions: What is causing what? Are changes in the money stock largely causing changes in prices and output, as Friedman and Schwartz were to conclude? Or, instead, is the stock of money reacting passively to changes in the state of economy? Or is there yet some other, unmeasured factor that is affecting all three variables?

    The special genius of the Monetary History is the authors' use of what some today would call "natural experiments"--in this context, episodes in which money moves for reasons that are plausibly unrelated to the current state of the economy. By locating such episodes, then observing what subsequently occurred in the economy, Friedman and Schwartz laboriously built the case that the causality can be interpreted as running (mostly) from money to output and prices, so that the Great Depression can reasonably be described as having been caused by monetary forces. Of course, natural experiments are never perfectly controlled, so that no single natural experiment can be viewed as dispositive--hence the importance of Friedman and Schwartz's historical analysis, which adduces a wide variety of such episodes and comparisons in support of their case.
    If you're wondering who it was that spoke these words in honor of Milton Friedman, it was none other than the recently departed Chairman of the Federal Reserve, Ben Bernanke.

    מה מכילות החדשות?


    • #3
      Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

      Originally posted by jpn View Post
      The extent to which conservatives don't understand economics, and the tragic results they would bring to America if they were tried is starkly revealed in their policy prescriptions following the Great Recession.

      In a time of great economic crisis, they strenuously called for exactly the wrong policies. Thank god we had a Democratic president, House, and (for a while) Senate.

      Republicans promised economic disaster if America did what it always does during a recession--borrow and spend. Fortunately we were able to pass a stimulus measure without them, which no doubt kept us from economic free-fall.

      When conservatives (conservatives/Republicans, the terms are synonymous these days) captured the House in 2010, they were able to largely close down the money spigot, which left unemployment far higher than it otherwise would have been.

      Since fiscal stimulus was no longer an option, thanks to Republicans who were either trying to sabotage the recovery on purpose or through their ignorance of economics, the Federal Reserve was the only institution left that could rescue the economy.

      So the Fed engaged in extraordinary measures. The Republicans promised that massive, massive, extraordinary inflation would result. It never came.

      So have conservatives learned their lesson? Do they now agree that the Federal Reserve bank has an important role to play in stabilizing economies? Do they admit that a gold standard is absurd?

      No. That would take an open mind.
      The Fed has created a gigantic bubble in the stock market. When it pops, people will suffer. Money that banks were given to lend, they simply invested in the stock market inflating stock prices. The problem with borrowing and spending during a recession is that it is never paid back and only establishes a new baseline for government spending. We are now spending at record levels and that will not change. Our economy is entirely dependent on government spending. If you think that is a good thing, you and I will never agree.

      מה מכילות החדשות?


      • #4
        Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

        Originally posted by jpn View Post
        The extent to which conservatives don't understand economics, and the tragic results they would bring to America if they were tried is starkly revealed in their policy prescriptions following the Great Recession.

        In a time of great economic crisis, they strenuously called for exactly the wrong policies. Thank god we had a Democratic president, House, and (for a while) Senate.

        Republicans promised economic disaster if America did what it always does during a recession--borrow and spend. Fortunately we were able to pass a stimulus measure without them, which no doubt kept us from economic free-fall.

        When conservatives (conservatives/Republicans, the terms are synonymous these days) captured the House in 2010, they were able to largely close down the money spigot, which left unemployment far higher than it otherwise would have been.

        Since fiscal stimulus was no longer an option, thanks to Republicans who were either trying to sabotage the recovery on purpose or through their ignorance of economics, the Federal Reserve was the only institution left that could rescue the economy.

        So the Fed engaged in extraordinary measures. The Republicans promised that massive, massive, extraordinary inflation would result. It never came.

        So have conservatives learned their lesson? Do they now agree that the Federal Reserve bank has an important role to play in stabilizing economies? Do they admit that a gold standard is absurd?

        No. That would take an open mind.
        Two things I can always count on when jpn posts a comment: First, he invariably peppers his comments with hyperbole and completely absurd (and uninformed) talking points, including in his titles if he started the thread. Second, he will be the ultimate drive-by poster: Start a thread or make an irrelevant and uninformed, hate-infested comment about conservatives and, then, disappear.

        Well done, kid: There is so much wrong with your opening hate-fest, I do not know where to begin. So I won't (and Pogo has already done a pretty good job of skewering your invective, anyway).

        מה מכילות החדשות?


        • #5
          Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

          The hyperinflation wanks are nutters but recovery...for who?
          Oh yay the unemployment rate is down! Why then is the population-employment ratio lower today?
          What about all those lowquality customer service jobs that replaced manufacturing and higher skill employment they don't speak to recovery.

          Washington republicans = conservatives? Maybe 10 or 20% of them do otherwise the majority are the right wing of the corporate syndarchy that is ruining this nation.

          מה מכילות החדשות?


          • #6
            Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

            Originally posted by JDJarvis View Post
            The hyperinflation wanks are nutters but recovery...for who?
            Oh yay the unemployment rate is down! Why then is the population-employment ratio lower today?
            What about all those lowquality customer service jobs that replaced manufacturing and higher skill employment they don't speak to recovery.

            Washington republicans = conservatives? Maybe 10 or 20% of them do otherwise the majority are the right wing of the corporate syndarchy that is ruining this nation.
            t
            We will never have a recovery that as in the past involved our workers being called back to their work class and middle class production jobs, to feed our consumers. People shouldn't even expect it. I know we were used to it, but the economic model is no longer the same.

            In the end, the results of a banking/corporate oligarchy will simply increase poverty, even if work is involved, shrink the middle class and destroy the working class. That is what we should expect, for that is what the end result will be.

            Get used to it, accept it, for the cake is done, but you don't get a piece of it. The current state is what you get when you allow banking and corporations to write the rules of the game, and the people are not represented at all. It really is that simple, although the problems it creates for this nation are very complex. And it affects everything, from unemployment rates to a tremendous national debt. It's like as if you removed the muscles from a worm, yet you expected it to crawl to escape the bird who is hunting it. Or you castrated your boar hog, yet expected him to still breed and give you new piglets. IMO, this is all this amounts to, the insanity of it. But it isn't insanity if you are a too big too fail bank or a huge corporation, or one of the elites who makes his income from investing. You now even have low capital gains tax rates, but how much of that is being invested in America, her domestic economy?

            The American people are now the hosts of the parasites. As our rulers allow in more and more folks who are dirt poor, south of our border, who will continue to depress wages for americans who have to work. It really is treason committed upon the American people.

            מה מכילות החדשות?


            • #7
              Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

              Originally posted by jpn View Post
              The extent to which conservatives don't understand economics, and the tragic results they would bring to America if they were tried is starkly revealed in their policy prescriptions following the Great Recession.

              In a time of great economic crisis, they strenuously called for exactly the wrong policies. Thank god we had a Democratic president, House, and (for a while) Senate.

              Republicans promised economic disaster if America did what it always does during a recession--borrow and spend. Fortunately we were able to pass a stimulus measure without them, which no doubt kept us from economic free-fall.

              When conservatives (conservatives/Republicans, the terms are synonymous these days) captured the House in 2010, they were able to largely close down the money spigot, which left unemployment far higher than it otherwise would have been.

              Since fiscal stimulus was no longer an option, thanks to Republicans who were either trying to sabotage the recovery on purpose or through their ignorance of economics, the Federal Reserve was the only institution left that could rescue the economy.

              So the Fed engaged in extraordinary measures. The Republicans promised that massive, massive, extraordinary inflation would result. It never came.

              So have conservatives learned their lesson? Do they now agree that the Federal Reserve bank has an important role to play in stabilizing economies? Do they admit that a gold standard is absurd?

              No. That would take an open mind.
              Yes let's do what we've always done which is make another bubble when the previous one pops, while racking up a frankly absurd amount of debt.
              Cause that NEVER backfires. Nope. Not once.

              מה מכילות החדשות?


              • #8
                Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                Originally posted by reality View Post
                Yes let's do what we've always done which is make another bubble when the previous one pops, while racking up a frankly absurd amount of debt.
                Cause that NEVER backfires. Nope. Not once.
                So what happens when the current stock market bubble collapses? Will Wall St. feel this one, or just everyone else?

                מה מכילות החדשות?


                • #9
                  Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                  Originally posted by Pogo View Post
                  The problem with your "thinking" is that it completely ignores reality.
                  If you're wondering who it was that spoke these words in honor of Milton Friedman, it was none other than the recently departed Chairman of the Federal Reserve, Ben Bernanke.
                  How have I ignored reality? Since Ben Bernanke was the one who orchestrated the Fed's response, which the conservatives predicted would be disastrous, and which of course was highly successful.

                  I have no idea what your point is.

                  מה מכילות החדשות?


                  • #10
                    Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                    Originally posted by OldmanDan View Post
                    The Fed has created a gigantic bubble in the stock market. When it pops, people will suffer. Money that banks were given to lend, they simply invested in the stock market inflating stock prices. The problem with borrowing and spending during a recession is that it is never paid back and only establishes a new baseline for government spending. We are now spending at record levels and that will not change. Our economy is entirely dependent on government spending. If you think that is a good thing, you and I will never agree.
                    Of course we're spending at record levels. It's because our economy itself is a record levels. Asserting that our economy is "entirely dependent on government spending" is bizarre and nonsensical. Some of the economy is. Some is not. Twas ever thus.

                    מה מכילות החדשות?


                    • #11
                      Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                      Originally posted by Good1 View Post
                      Two things I can always count on when jpn posts a comment: First, he invariably peppers his comments with hyperbole and completely absurd (and uninformed) talking points, including in his titles if he started the thread. Second, he will be the ultimate drive-by poster: Start a thread or make an irrelevant and uninformed, hate-infested comment about conservatives and, then, disappear.

                      Well done, kid: There is so much wrong with your opening hate-fest, I do not know where to begin. So I won't (and Pogo has already done a pretty good job of skewering your invective, anyway).
                      Hardly. And if I have other things to do with my time other than obsess on this website, perhaps that's a healthy thing.

                      מה מכילות החדשות?


                      • #12
                        Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                        Originally posted by JDJarvis View Post
                        Oh yay the unemployment rate is down! Why then is the population-employment ratio lower today?
                        It's some thing to be concerned about, for sure. Glad to see you're so concerned. I assume you believe that we should extend long-term unemployment benefits. But the Republicans won't, because it would stimulate economic growth and make President Obama look better, and that can't be allowed. So why do you support Republicans, anyway? Weird.
                        And the population-employment ratio is lower today at least in some part to the baby boomers moving into retirement age. Which isn't a bad thing.

                        Originally posted by JDJarvis View Post
                        What about all those lowquality [sic] customer service jobs that replaced manufacturing and higher skill employment they don't speak to recovery.
                        What about them? What's your solution? Tax cuts for the rich? Slash benefits for the poor?

                        Originally posted by JDJarvis View Post
                        Washington republicans = conservatives? Maybe 10 or 20% of them do otherwise the majority are the right wing of the corporate syndarchy that is ruining this nation.
                        ???

                        מה מכילות החדשות?


                        • #13
                          Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                          Originally posted by Blue Doggy View Post
                          The current state is what you get when you allow banking and corporations to write the rules of the game, and the people are not represented at all.
                          My city, Seattle, just passed a $15 minimum wage law. That's an example of the people writing the rules of the game, to everyone's benefit. (Even the business owners on the whole will benefit, because paying a living wage to workers enables them to be consumers and stimulate the economy. Henry Ford understood that when he began paying his work force $5 a day, doubling the going wage and greatly expanding the market for his cars.

                          מה מכילות החדשות?


                          • #14
                            Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                            Originally posted by reality View Post
                            Yes let's do what we've always done which is make another bubble when the previous one pops, while racking up a frankly absurd amount of debt.
                            Cause that NEVER backfires. Nope. Not once.
                            George Bush's national debt has been more than cut in half since Obama took office, despite Bush's economic meltdown and despite what you may hear on Fox "News."
                            It's easy to criticize. What would your economic prescription have looked like? Herbert Hoover's?

                            מה מכילות החדשות?


                            • #15
                              Re: Conservatives' Inflation Obsession, and their Loathing of the Fed

                              Originally posted by Blue Doggy View Post
                              So what happens when the current stock market bubble collapses? Will Wall St. feel this one, or just everyone else?
                              Who is in power? Fiscal conservative: wall street will take it in the pants like everyone else.
                              Anyone else : they'll get a bailout and be just fine.

                              מה מכילות החדשות?

                              Working...
                              X