5 ms·

The fed is in an impossible situation. Raise rates to fight inflation and the stock market tanks and we enter into a recession, unemployment. Or ignore inflatio

The fed is in an impossible situation. Raise rates to fight inflation and the stock market tanks and we enter into a recession, unemployment. Or ignore inflation and the middle class is slowly boiled in raising gasoline, housing, and other prices. Either way the middle class and poor get screwed but the wealthy who took out ultra low interest fixed rate loans to buy up assets all over the country are going to do fine.

fartcannon 5y ago
It's an easy fix. The poor and the middle class need a bailout. They're too big to fail.
- JaimeThompson 5y ago
  The problem for a lot of the poor and middle class is their elected officials will not talk to them since they don't donate to them. Take Texas for example it is rare for the Texas Senators to actually talk to normal people anymore.
  - JoeAltmaier 5y ago
    It's a hard problem. Texas has 27 million residents. And 2 Senators. If they spent an hour a day talking to constituents and spent 15 minutes with each one, it would take 16,875 years to talk to each one, once.
    - MomoXenosaga 5y ago
      The only people senators want to talk to is their donors. Money is speech.
      - JoeAltmaier 5y ago
        There was even a SchoolHouse Rock episode about that - how lobbyists represent money, and money represents people, so it's all nice and democratic!
    - JaimeThompson 5y ago
      Even in their public forums they typically vet those allowed in. Donors don't have much of a problem talking to them. They forget they represent everyone, not just those who fund them.
  - mrguyorama 5y ago
    Also half of those people think that a bailout of the middle class would be communism
    - pasquinelli 5y ago
      maybe but i doubt they'd turn it down. what people think isn't always what people think.
      - bduerst 5y ago
        Oh, they wouldn't turn it down, but they would support whatever they could to prevent it from happening. It's a weird form of irrational behavior that falls under economic animosity.
01100011 5y ago
Goosing asset prices which are only owned by the richest 55% of Americans, and almost entirely by the top 1%, in order to benefit the lower and middle classes is the same old trickle down economics which had led us to the massive wealth gap we have today. The solution is to let asset bubbles deflate and do more targeted fiscal stimulus, less monetary stimulus, and use tax policy, not artificially low rate government borrowing, to pay for it. Our government is increasingly ineffective due to political divisions and ideological puritanism so I understand why the fed feels it needs to act but I feel like monetary policy is too broad of a brush that generally only benefits the moneyed elites.

fartcannon 5y ago

It's an easy fix. The poor and the middle class need a bailout. They're too big to fail.

JaimeThompson 5y ago
The problem for a lot of the poor and middle class is their elected officials will not talk to them since they don't donate to them. Take Texas for example it is rare for the Texas Senators to actually talk to normal people anymore.
- JoeAltmaier 5y ago
  It's a hard problem. Texas has 27 million residents. And 2 Senators. If they spent an hour a day talking to constituents and spent 15 minutes with each one, it would take 16,875 years to talk to each one, once.
  - MomoXenosaga 5y ago
    The only people senators want to talk to is their donors. Money is speech.
    - JoeAltmaier 5y ago
      There was even a SchoolHouse Rock episode about that - how lobbyists represent money, and money represents people, so it's all nice and democratic!
  - JaimeThompson 5y ago
    Even in their public forums they typically vet those allowed in. Donors don't have much of a problem talking to them. They forget they represent everyone, not just those who fund them.
- mrguyorama 5y ago
  Also half of those people think that a bailout of the middle class would be communism
  - pasquinelli 5y ago
    maybe but i doubt they'd turn it down. what people think isn't always what people think.
    - bduerst 5y ago
      Oh, they wouldn't turn it down, but they would support whatever they could to prevent it from happening. It's a weird form of irrational behavior that falls under economic animosity.

01100011 5y ago

Goosing asset prices which are only owned by the richest 55% of Americans, and almost entirely by the top 1%, in order to benefit the lower and middle classes is the same old trickle down economics which had led us to the massive wealth gap we have today. The solution is to let asset bubbles deflate and do more targeted fiscal stimulus, less monetary stimulus, and use tax policy, not artificially low rate government borrowing, to pay for it. Our government is increasingly ineffective due to political divisions and ideological puritanism so I understand why the fed feels it needs to act but I feel like monetary policy is too broad of a brush that generally only benefits the moneyed elites.