Making the Fed the scapegoat for Republicans

[Taitertots]

Seems that there are way too many people who want to bemoan the Fed for problems caused by the Republicans (and Blue Dogs). Lets break down some of the causes for our economic woes.

Who wasted several trillion dollars on wars of aggression? Republicans
Who deregulated and failed to regulate when we had the chance prevent economic collapse? Republicans
Who has been slashing taxes on the rich and slashing spending that benefits the majority of Americans? Republicans
Who could have stopped the bad lending practices? Republicans
Who should have stopped questionable underwriting of securities, which was a contributing factor to the economic collapse? Republicans
Who was the proximate cause? Republicans

Who couldn't regulate the MBSs, CDOs, Derivatives, and activities of non-banks? The Fed
Who couldn't stop wasting money on wars? The Fed
Who couldn't increase public works spending? The Fed
Who couldn't stop sub-prime lending? The Fed

Who couldn't do anything to stop all of this from happening? Barack Obama
Who can't force the variety of relevant economic variables to change? Barack Obama
Who wants you to blame Barack Obama for this? Republicans

Who should we be blaming? Republicans. We need to stop buying the republican anti-Fed bullshit. Now they are trying to screw us over even further by blocking unemployment extension and looting the treasury to hand out tax cuts to the rich.

Who is sabotaging the recovery? Republicans.
Who is doing everything in their power to restore prosperity? Democrats and the Fed.

[Taitertots]

1. Bump n/t

[girl gone mad]

2. "Doing everything in their power to restore prosperity?"

:rofl:

[Taitertots]

3. What policies do you think they should be doing?

The great Armchair economist is here to tell us that everyone is wrong, while not having no answer.

[girl gone mad]

4. I have held the same positions throughout this crisis.

The goal of policy makers should be to restore full employment.

This needs to be addressed fiscally, not monetarily. A national jobs program and a payroll tax holiday would be a good start.

Our deficit must be increased in the short term, not reduced.

The Federal Reserve bears responsibility because of ZIRP. They have made it worse by backstopping the massive systemic fraud that resulted from their malfeasance.

Quantitative easing will not benefit the real economy and it will not create inflation. It will have about the same effect here as it had in Japan - virtually none.

[Taitertots]

6. Those are all blocked by Republicans and Blue Dogs

While being outside the control of the Fed, Obama, and most Congressional Democrats.

A National Jobs program would be good. Convince the Republicans and Blue Dogs to stop blocking anything similar.
A payroll tax holiday would help. Convince the Republicans and Blue Dogs to stop blocking anything similar.
The loudest complainers about the deficit are the Republicans and Blue Dogs.
The loudest complainers about inflation are the Republicans and Blue Dogs.

Qualitative Easing doesn't cause inflation because it countered changing macroeconomic variables. The exact same thing that happened in Japan.
Keeping interest rates low is helping the economic recovery. Bringing the interest rate up now would cause worse unemployment and exacerbate our problems. The Fed is acting as a lender of last resort and this is a good thing.

[Hydra]

5. The Fed up until recently was spinning moonbeams

The problem is that they have now hit a hard wall- you have to steal labor to fuel paper.

I was shocked when I heard Bernanke say that it was time to look at creating the jobs. That's like the Bankrobber saying "I've robbed all the banks I can easily reach. It's time to go into business as a Banker."

[Taitertots]

7. Bank Robber? LOL

How much money do you think Ben Bernanke made as a result of his policy choices?

[Hydra]

8. *Laughs*

More than I'll ever see.

I hadn't even considered it from that angle, but I'd love to have even 1/100th of what he's got in the bank.

[Taitertots]

9. Become an Economics Professor and write some textbooks

He didn't become wealthy through manipulation as Fed Chairmen.