Showing posts with label The Federal Reserve. Show all posts
Showing posts with label The Federal Reserve. Show all posts

Saturday, March 01, 2014

Looney Liberal Night

I love my really liberal friends but last night drove me absolutely bonkers. Hanging out in downtown Minneapolis for a birthday party for one of them, I was regaled with mouthfoaming about how all corporations are evil puppet masters who have hijacked Barack Obama's mind and soul, manipulating him into doing their nefarious bidding. Apparently, the Federal Reserve is behind it all.


After I took far more than I should, I posited that they don't sound any different than those moonbats on the far right and their evil government conspiracy theories. That made them very upset, offering several "Wow. Just wows" at my "naivete" at "how the world really works." One woman kept asking me over and over again if I knew just what the Federal Reserve really was. I replied that I did. When she asked for an explanation and I gave her one, she rolled her eyes and accused me of being "blind." Her boyfriend then described to me his theory that Barack Obama was taken aside after about a month in office and given his orders.

"Just look at the difference in his face after a few weeks in office. He went from young looking to ashen. Yeah, they told how it was."

"Who is they?" I asked.

"Ah, c'mon Mark, you know!!"

I still don't.

I tried to explain to them that I had been through all this in the 1990s, listening regularly to Art Bell and Coast to Coast. I still listen to it today but realize with the wisdom of my years that most of this stuff is just fictional garbage. More frustrating is the sad fact that people on the Right view all liberals as being this way. We are most decidedly not.

The whole night really kinda sucked because I was, once again, given a shining example of how when the left goes too far, they end up sounding like right wingers. Chem trails, the Bilderbergers, Monsanto, and a whole host of other moustache twirlers are all comin' to gin us!

Monday, October 28, 2013

A Change of Heart On Inflation

My latest installment on Stiglitz was heavily centered on the issue of inflation and how the Fed seems completely obsessed with keeping it low. Yet, a recent piece in the New York Times indicates that there might be a sea change with the appointment of Janet Yellin.

The Fed has worked for decades to suppress inflation, but economists, including Janet Yellen, President Obama’s nominee to lead the Fed starting next year, have long argued that a little inflation is particularly valuable when the economy is weak. Rising prices help companies increase profits; rising wages help borrowers repay debts. Inflation also encourages people and businesses to borrow money and spend it more quickly.

I agree. We have to end the inflation hawk hysteria and move towards a more balanced approach towards growth. This is exactly what Stiglitz was hoping would happen when he wrote his tome two years ago and we may finally be heading in that direction.