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Pwns wrote: ↑Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks.

kalm wrote: ↑Sat Mar 11, 2023 7:04 pm

Pwns wrote: ↑Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks.

You pretty much summed it up. Rigged game.

UNI88 wrote: ↑Sat Mar 11, 2023 9:58 pm

kalm wrote: ↑Sat Mar 11, 2023 7:04 pm

You pretty much summed it up. Rigged game.

There some truth to what pwns posted but it bears asking - What would things be like without the Fed?

UNI88 wrote: ↑Sat Mar 11, 2023 9:58 pm

kalm wrote: ↑Sat Mar 11, 2023 7:04 pm

You pretty much summed it up. Rigged game.

There some truth to what pwns posted but it bears asking - What would things be like without the Fed?

Pwns wrote: ↑Sun Mar 12, 2023 6:08 am I could probably be convinced we do need a central bank. But the idea that the fed is independent and makes completely objective decisions for the economy with no agenda is at best questionable and at worst laughable.

kalm wrote: ↑Sun Mar 12, 2023 7:03 am

UNI88 wrote: ↑Sat Mar 11, 2023 9:58 pm

There some truth to what pwns posted but it bears asking - What would things be like without the Fed?

Higher risk of volatility and deeper recessions. It’s sort of the ultimate regulatory question.

UNI88 wrote: ↑Sun Mar 12, 2023 12:16 pm

kalm wrote: ↑Sun Mar 12, 2023 7:03 am

Higher risk of volatility and deeper recessions. It’s sort of the ultimate regulatory question.

So the Fed sucks but things would be more volatile (i.e. worse) without the Fed.

I'm all ears if you have a better alternative to the Fed.

SeattleGriz wrote: ↑Sun Mar 12, 2023 10:39 am

UNI88 wrote: ↑Sat Mar 11, 2023 9:58 pm

There some truth to what pwns posted but it bears asking - What would things be like without the Fed?

I'm going to wait for StOnge to chime in on this. We need an expert.

kalm wrote: ↑Sat Mar 11, 2023 7:04 pm

Pwns wrote: ↑Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks.

You pretty much summed it up. Rigged game.

Pwns wrote: ↑Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks.

BDKJMU wrote: ↑Mon Mar 13, 2023 6:05 am

Pwns wrote: ↑Sat Mar 11, 2023 6:09 pm Can someone explain to me why when there are record profits in Corporate America the real problem is wage growth and that the only way to fix it is to artificially raise unemployment?

And we can we move past this idea that the Fed is some untouchable sacred cow that only the libertarian right and proggy left criticize?

These guys aren't geniuses using arcane magic to keep the economy afloat, they're just hacks representing the interests of big banks.

Artificially raise unemployment how?

kalm wrote: ↑Mon Mar 13, 2023 7:26 am

BDKJMU wrote: ↑Mon Mar 13, 2023 6:05 am
Artificially raise unemployment how?

Monetary policy. Make lending harder for business, mortgages, etc. It’s literally what Powell has expressed he’s trying to do. The wages are too damned high!

BDKJMU wrote: ↑Mon Mar 13, 2023 7:28 am

kalm wrote: ↑Mon Mar 13, 2023 7:26 am

Monetary policy. Make lending harder for business, mortgages, etc. It’s literally what Powell has expressed he’s trying to do. The wages are too damned high!

Raising interest rates?

kalm wrote: ↑Mon Mar 13, 2023 7:32 am

BDKJMU wrote: ↑Mon Mar 13, 2023 7:28 am
Raising interest rates?

Yes. Lower wages and higher rent will slow down the economy.

BDKJMU wrote: ↑Mon Mar 13, 2023 7:39 am

kalm wrote: ↑Mon Mar 13, 2023 7:32 am

Yes. Lower wages and higher rent will slow down the economy.

So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?

kalm wrote: ↑Mon Mar 13, 2023 7:45 am

BDKJMU wrote: ↑Mon Mar 13, 2023 7:39 am
So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?

It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.

kalm wrote: ↑Mon Mar 13, 2023 7:45 am

BDKJMU wrote: ↑Mon Mar 13, 2023 7:39 am
So does high inflation. How else are they suppose to lower high inflation brought about by all the extra trillions in spending over the last couple years?

It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.

UNI88 wrote: ↑Mon Mar 13, 2023 8:05 am

kalm wrote: ↑Mon Mar 13, 2023 7:45 am

It’s what they do. But at least corporations have been able to raise prices during this woeful episode of record profits.

And individuals have been able to raise prices during this woeful episode of record wages.

kalm wrote: ↑Mon Mar 13, 2023 8:10 am

UNI88 wrote: ↑Mon Mar 13, 2023 8:05 am
And individuals have been able to raise prices during this woeful episode of record wages.

Individuals? I remember those. Lol.

Welcome to the new corporate hive collective, sweetheart.

UNI88 wrote: ↑Mon Mar 13, 2023 9:09 am

kalm wrote: ↑Mon Mar 13, 2023 8:10 am

Individuals? I remember those. Lol.

Welcome to the new corporate hive collective, sweetheart.

You're either being intentionally obtuse or you're missing the point. Labor/wage inflation is a big part of our current high inflation. Individuals are getting record increases. Why don't you apply the same outrage at an individual profiting from circumstances as you do corporations, darling?

kalm wrote: ↑Mon Mar 13, 2023 9:40 am

UNI88 wrote: ↑Mon Mar 13, 2023 9:09 am
You're either being intentionally obtuse or you're missing the point. Labor/wage inflation is a big part of our current high inflation. Individuals are getting record increases. Why don't you apply the same outrage at an individual profiting from circumstances as you do corporations, darling?

After decades of wage stagnation. Yawn.

UNI88 wrote: ↑Mon Mar 13, 2023 9:44 am

kalm wrote: ↑Mon Mar 13, 2023 9:40 am

After decades of wage stagnation. Yawn.

Proof of wage stagnation?