4 ms·
>Have you ever examined the idea that it could be you who lacks education? >You're angry because it feels like everybody is getting rich and you aren't. You c
by idrios 6y ago
>Have you ever examined the idea that it could be you who lacks education?
>You're angry because it feels like everybody is getting rich and you aren't.
You could have made your point without these personal attacks.
Also, I don't understand what the parent comment said that you think was wrong. Inflation is basically a flat percentage tax on everyone with USD (and subsidy to debtors as percentage of your debt). If the government is printing money to pay back its own debts through bonds and such, it's taking money from everyone and then giving it back to only the wealthy.
You responded with, paraphrasing, "have you though about if the fed had no accommodative monetary policy?" But the parent didn't say the fed should have done nothing, (s)he said what they did do exacerbated wealth inequality. The monetary policy we got could have been one that bailed out the people whose houses were about to be foreclosed instead. Or a stimulus check to anyone who earned under a certain threshold of income. Or a more conservative approach of letting the banks fail, become liquidated, buy the bank's assets and then auction them off. There are tons of outcomes besides the false dichotomy of "no accommodative policy for the last 10 years" vs the ones we got.
- freeone3000 6y ago> But the parent didn't say the fed should have done nothing, (s)he said what they did do exacerbated wealth inequality. The monetary policy we got could have been one that bailed out the people whose houses were about to be foreclosed instead. Or a stimulus check to anyone who earned under a certain threshold of income. These are fiscal policies, not monetary policies. The fed cannot do these things. The fed can only buy and sell securities, including its infinite supply of Treasury bonds, and raise and lower interest rates. It lacks the capacity to actually help individuals.
- idrios 6y agoThank you for this correction. I wrote this thinking "Fed" as federal government, not federal reserve, which was not smart of me. I was mostly criticising the parent's ad hominem attacks