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Author Topic: Money  (Read 8138 times)

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AGelbert

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Re: Money
« Reply #600 on: May 21, 2019, 02:21:06 pm »
May 21, 2019

By James Grant

SNIPPET 1:

Interest rates are probably the most sensitive and consequential prices in capitalism. They balance savings and investment, discount future cash flows, define investment hurdle rates, measure financial risk.

Yet the Fed and its foreign counterparts seek to manipulate or, at least, to influence, interest rates both long-term and short-. They can’t seem to keep their hands off them.

😈💵🎩 Wall Street raises no protest against these intrusions. The artificially low rates of the past 10 years have advantaged investors, speculators and corporate promoters. They have deadened the risk sensors of even professional investors. They are 80-proof financial disinhibitors. 

The same low rates—by some measures, the lowest in 3,000 years—have penalized savers, incentivized dubious risk-taking, expedited the growth in federal indebtedness, and perpetuated the lives of  businesses that would have failed in the absence of easy credit. They have widened the gulf between rich and poor, thrown a spanner into our politics and inflated the cost of retirement.

In 2016, then candidate Trump complained about an “artificial stock market” and a “false economy,” blaming each on the legacy of the Fed’s near-zero percent interest rates. And just because he subsequently hired a new speech writer doesn’t mean he was wrong. He was, indeed, righter than he knew.

Agelbert NOTE: Trump was telling the truth in order to win the election. Obama, in 2008, told a truth in order to win the election. He said, on the Larry King show, months before the election, that, "No person makining less than $50,000 a year should have to pay taxes.".

BOTH Trump and Obama had ZERO interest in acting on these truths to improve the well being of we-the-people. Lke Obama, but on 'greed is good' steriods, once Trump got in power he used the Fed to further screw we-the-people. The next line in the article explains why:

SNIPPET 2:

The trouble is that the costs of radical monetary policy are dark and prospective; the gifts they bestow are bright and immediate.

SNIPPET 3:

What we need, the new brooms at the central bank would say, are rates discovered in the market, not imposed from on high. In other words, green interest rates. Unprocessed, unpasteurized, un-fluoridated interest rates. Cage-free, cruelty-free, hormone-free, antibiotic-free, gluten-free, grass-fed, heart-healthy, probiotic, non-GMO, non-dairy, free-range, all-natural, sustainable, organic, farm-to-table interest rates.

Full article:
https://www.zerohedge.com/news/2019-05-20/jim-grant-regime-change-fed-honest-rates

Quote of the day:

"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today." - Laurence J. Peter
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

 

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