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On The Morality Of The Fed
Via The Baupost Group:
"Finally, we must question the morality of Fed programs that trick people (as if they were Pavlov's dogs) into behaviors that are adverse to their own long-term best interest. What kind of government entity cajoles savers to spend, when years of under-saving and over-spending have left the consumer in terrible shape? What kind of entity tricks its citizens into paying higher and higher prices to buy stocks? What kind of entity drives the return on retiree's savings to zero for seven years (2008-2015 and counting) in order to rescue poorly managed banks? Not the kind that should play this large a role in the economy."
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"An environment where financial crises are seen to be a regular part of the landscape is one where people might actually take more precautions. People would maintain a margin of safety in all their decisions, investment and otherwise, regulations would be well thought out and diligently enforced, and the unscrupulous and the incompetent would quickly fail and disappear from the scene. Modern day attempts to abolish failure only serve to ensure it, as moral hazard - the likelihood that people's behavior changes in response to artificial supports or guarantees - surges. Attempts to prevent or wish away future crises only make them more likely. Only by allowing, even welcoming, episodic failure do we have a chance of reducing the likelihood and magnitude of future financial crises."
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Gigantic post.
Thx a million
The idiocy that explains so many laws and regulations is easier to understand when you realise that society is driven by emotions, not logic and certainly not commonsense. The political elites play the role of shepherding.
So it is with the gun-control lobby: after Newtown, their emotions are driving them to demand a ban on guns in America. Excuse me for thinking that many of them don't really give a rat's ass about the 26 innocents killed; they just want guns banned and now is the time to make progress.
Anybody who argues against them is publicly castigated. But there is not a single one of the lobby who will calm down and comment on whether Newtown would still have happened even if possessing a gun was already unlawful.
Their emotions deny them from accepting that a criminal will always get his/her hands on a gun if they want to, and they're more likely to use it (or threaten to) if there is no opposing force at hand.
Adam Lanza was a Vegan? This is getting to be really weird....
Another Manchurian candidate?
Read the short story here:
http://www.salon.com/2012/12/17/adam_lanza_was_a_vegan/
its obamamerica bitches.....get used to doing what da man says to do...
What?
The Fed Reserve is lying to me and are criminals?
This is disturbing news.
Jeepers.
Jews cannot be trusted = Federal Reserve
Let's not forget championing the idea that everyone should own a home regardless of whether they have a downpayment or a job. Greenspan's 'flaw' in his model.
The flaw is in your surface thought.
Line up the monkeys for the debt and when that fails transfer it up the monkey line.
What could be better. Transference The act or process of transferring
The Federal Reserve IS the banks. What is the differnce?
"On The Morality Of The Fed"
I expected a MUCH shorter article.
Chum,
Even the bright minds of Zerohedge and its readers become trained in the manipulative distractions rather than purpose of the Fiscal cliff issue. The "Fiscal Cliff" is a distractor in name itself. What is it? ...Very simply it is a way to get Americans to pay for the banker crimes of gargantun theft, where none were charged of any crimes...And how do they do this? ...By creating a great argument of "how much", rather than WHY. We hear the word DEBT...And how it must be paid, but where did this debt come from. They quietly leave this fact out of the argument. We are Spain, we are Greece - But our legislators understand we couldn't possibly swallow the pill of financing the truth of the matter, which is: Our government bailed out the banks, got broke in doing so - and now it is time for the taxpayers to fork up the difference...Just like Europe. This is our AUSTERITY. But do we hear this in the media? Of course not! This pretentious battle on Capital Hill is a chirade. Tax hikes across the board, mortgage and 95% of all other deductions will stop for the middleclass, zero return on investment and savings, lower wage...And this pays for about 2% of what has been stolen - But its a start. We have become the battery in the Matrix - And the Fiscal cliff term is a way to take our eyes off the gun that is about to blow our heads clean off!!
The problem is that almost no one in the wrld actually understands economics. I am not talking about that bullshit they teach in college called Macro and Micro. I'm talking about true time preference based rational action in the open market place.
This is not just a trend we see in everyday people on the street, it's a pervasive trend we see everywhere in every field and profession. I see it even on this very site. Just reading a few of the comments aggravates me to no end. Ignorance is everywhere..
The Federal Reserve is not exactly a "government entity."
Hitler threw the Central Bankers out, which was headed by Max Warburg and his buddies. Max was the brother of Paul Warburg, who was the founding father of the Federal Reserve System. After Hitler threw them out and told the Bank of England where to stick it, he created a sound currency that was stronger than the U.S. dollar; stronger than even gold!