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The fed was created to prevent the boom bust cycles we’ve seen for the past 100 years. I don’t think “making it hurt less” when your entire purpose is to avoid
by sudisjensobshs 3y ago
The fed was created to prevent the boom bust cycles we’ve seen for the past 100 years. I don’t think “making it hurt less” when your entire purpose is to avoid the pain is praiseworthy.
But who’s to say - maybe the rains do actually keep coming because we make all those sacrifices to the gods.
- HDThoreaun 3y agoThey deserve praise because their job is incredibly difficult. Just because its what theyre supposed to do doesnt mean its easy. I give praise to my coworkers when they do a good job, and our work is way easier than the feds.
- eru 3y agoThe creation of the Fed was a complicated process with lots of political horse trading. And until at least the 1980s the Fed did worse than the (broken!) system that they replaced. See https://www.cato.org/policy-report/november/december-2012/has-fed-been-failure https://www.cato.org/policy-report/november/december-2012/ha... about the Fed. On the positive side, Canada would have been an excellent role model to emulate, instead of coming up with the Fed system: https://www.cato.org/blog/there-was-no-place-canada https://www.cato.org/blog/there-was-no-place-canada