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(CNBC)   What's becoming increasing clear is the Federal Reserve has absolutely no idea what the hell it's doing and we're probably all going to die   (cnbc.com) divider line
    More: Spiffy, Monetary policy, Powell Fed, Central bank, important policy shift, Federal Reserve System, little less clarity, Money supply, Chairman Jerome Powell  
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2261 clicks; posted to Politics » on 09 Dec 2021 at 8:25 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-12-09 1:57:33 AM  
Well... we ARE all going to die.
 
2021-12-09 2:07:27 AM  
Fark user imageView Full Size


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2021-12-09 8:30:21 AM  
No duh.  This has been obvious since at least 08, probably longer but I'm not that old.

/Unless their goal is to enrich the upper crust at the expense of everyone else - then they're doing a bangup job and have been since 1913.
//And remember, the Federal Reserve is a private bank
 
2021-12-09 8:32:01 AM  
The sure-fire plan is to never adapt to change and continue doing the same thing all the time so you don't panic Wall Street.
 
2021-12-09 8:32:17 AM  
The Fed is expected to say next week it will double the pace of its bond purchase taper, while also likely hinting at more aggressive rate hikes in 2022.
If it meets those expectations, it will mark at least the fourth significant policy change under Chairman Jerome Powell's leadership.
With policy so unpredictable and forecasts proving often unreliable, the Fed could be facing a substantial credibility challenge.


What CNBC is actually complaining about is the idea of raising of rates, not the "unpredictability" of it all.  He's unpredictable is just a narrative to find a more dovish replacement.
 
2021-12-09 8:32:56 AM  
Here's a good 'future policy'

Since the economy is strong, every 2 months, raise the discount rate by .25% until it reaches 5%. Halve the discount window lending period of loans to 45 days. That's 40 months - over 3 years - of slow escalation. That should be a nice way to tell the markets how long they have to clean their mess up. And when we have the next 'crisis' we can drop the discount rate again to stimulate the economy instead of being stuck at the bottom of a well here like we are now.
 
2021-12-09 8:34:23 AM  

ISmartAllMyOwnPosts: No duh.  This has been obvious since at least 08, probably longer but I'm not that old.

/Unless their goal is to enrich the upper crust at the expense of everyone else - then they're doing a bangup job and have been since 1913.
//And remember, the Federal Reserve is a private bank


That is the Feds unwritten primary mandate since 2008 and 0 interest for institutions was all the rage for a decade.
 
2021-12-09 8:34:39 AM  
The entire US economic and political system is a scam that deserves to be burned to the ground. World-wide mega EMP and we go back to trading yummy eggs and pretty seashells is the best option out of this insanity.
 
2021-12-09 8:35:06 AM  

fatassbastard: Well... we ARE all going to die.


Everyone except the Wandering Jew and the Highlander.
 
2021-12-09 8:41:00 AM  

fatassbastard: Well... we ARE all going to die.


"On a long enough timeline, the survival rate for everyone drops to zero."
 
2021-12-09 8:42:56 AM  
Well, this is a ... fun ... thread.
 
2021-12-09 8:45:26 AM  
Its economics, of course no one knows what the fark is going on
 
2021-12-09 8:46:57 AM  
Right now The Fed is only there to continue pumping up the bubble. The Boomers don't have to keep it going forever ,just enough to make sure they get everything they can before they die. They don't care who has to clean up the mess or how.
 
2021-12-09 8:49:08 AM  
FTFA:said Joseph LaVorgna, chief economist for the Americas at Natixis and former head of the National Economic Council under former President Donald Trump. "In market parlance, the Fed has bought the high and sold the low. So I do think there will be a credibility issue going forward."

/scene
 
2021-12-09 8:50:16 AM  

ISmartAllMyOwnPosts: No duh.  This has been obvious since at least 08, probably longer but I'm not that old.

/Unless their goal is to enrich the upper crust at the expense of everyone else - then they're doing a bangup job and have been since 1913.
//And remember, the Federal Reserve is a private bank


A private band whose CEO and Board of Directors are appointed by the President and confirmed by the Senate.
 
2021-12-09 8:52:14 AM  
Volcker is the last Chairman who actually did his job.  Greenspan came in with Reagan and did anything his Wall Street masters told him to.  He's one of the major reasons we crashed so hard in 2008.
 
2021-12-09 8:52:27 AM  
Fark user imageView Full Size
 
2021-12-09 8:52:45 AM  
I'm surprised Qanon hasn't tried to get rid of the Fed.  It would make as much sense as every other theory.
 
2021-12-09 8:56:24 AM  

Tyrone Slothrop: fatassbastard: Well... we ARE all going to die.

Everyone except the Wandering Jew and the Highlander.


Fark user imageView Full Size
 
2021-12-09 8:56:39 AM  

ISmartAllMyOwnPosts: No duh.  This has been obvious since at least 08, probably longer but I'm not that old.

/Unless their goal is to enrich the upper crust at the expense of everyone else - then they're doing a bangup job and have been since 1913.
//And remember, the Federal Reserve is a private bank


Exactly.  Scam from Day 1.

1.) Manufacture excuses to crank the "free money" tap wide open and leave it that way... but only for big banks, of course.

2.) Big Banks gamble with and loan out that free money at high rates, making mad profit.

3.) The Fed gets most of your tax money to pay the interest on what they "loaned" the Too Big To Fail crowd.

4.) Everyone wins and gets free money all day, except for all of us, who pay for it.

Everyone involved should be in the kind of prison where you only see daylight once a month, and the money supply controlled instead by a reverse income tax.  That's where individuals who make less than a defined poverty level (not necessarily the current one) get paid to bring them up to that amount for the year, while everyone who makes more than that gets taxed in progressive brackets, but only on the amount over that poverty level.
 
2021-12-09 8:58:17 AM  

BitwiseShift: I'm surprised Qanon hasn't tried to get rid of the Fed.  It would make as much sense as every other theory.


That's an interesting point - I haven't seen them pick up the "audit the Fed" stuff that was quite popular a few years ago.
 
2021-12-09 8:58:52 AM  
Fark user imageView Full Size
 
2021-12-09 9:02:02 AM  
The Fed exists to pump up the stock market at this point. It doesn't pay attention to much else.
 
2021-12-09 9:02:24 AM  
I don't expect to find many Nobel laureates in this thread.
 
2021-12-09 9:02:56 AM  
The buck stops where?
 
2021-12-09 9:03:57 AM  

johnphantom: The buck stops where?


The whole point is that the buck doesn't stop!
 
2021-12-09 9:05:31 AM  
"The validity of the public debt of the United States, authorized by law... shall not be questioned." - U.S. Constitution

It sounds like submitter is questioning the validity of our debt.
 
2021-12-09 9:05:31 AM  

Arkanaut: johnphantom: The buck stops where?

The whole point is that the buck doesn't stop!


Ah, so the buck is responsible for the buck?

//tell me about how he can't do anything, so I can laugh at you
 
ENS
2021-12-09 9:06:50 AM  
memegenerator.netView Full Size
 
2021-12-09 9:07:18 AM  

Meatsim1: Its economics, of course no one knows what the fark is going on


The Fed is a Rohrshrach test.  Whatever your personal bugaboo is, you can see it in the Fed.  It's runaway inflation, it's baby boomers committing warfare against their children, it's Wall Street screwing us, it's the rich getting richer, it's the illuminati controlling the world, it's (((elitists))).

It's mostly a way by which the US government controls inflation and attempts to reduce unemployment.  It now wants to control inflation. The way to do that is by raising rates.  They're probably not thinking about how awesome it is that they're screwing their children right now.  It's not that exciting.
 
2021-12-09 9:09:15 AM  
Let's get rid of interest rates on mortgages for those earning less than $150k / year.
 
2021-12-09 9:10:58 AM  

Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.


They are 1.99%. What more do you want???
 
2021-12-09 9:12:19 AM  

Por que tan serioso: Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.

They are 1.99%. What more do you want???


1.98%
 
2021-12-09 9:16:49 AM  

Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.


Adjusted gross or gross?
 
2021-12-09 9:17:45 AM  

Weatherkiss: Por que tan serioso: Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.

They are 1.99%. What more do you want???

1.98%


Well. Okay, then. I refied to 1.99 from 3.99 and took a 25+ to a 15 with a smaller monthly.
 
2021-12-09 9:21:05 AM  
I'm glad you were able to do some business.
 
2021-12-09 9:21:08 AM  

Por que tan serioso: Weatherkiss: Por que tan serioso: Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.

They are 1.99%. What more do you want???

1.98%

Well. Okay, then. I refied to 1.99 from 3.99 and took a 25+ to a 15 with a smaller monthly.


Nice work man
 
2021-12-09 9:25:33 AM  

qorkfiend: Por que tan serioso: Weatherkiss: Por que tan serioso: Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.

They are 1.99%. What more do you want???

1.98%

Well. Okay, then. I refied to 1.99 from 3.99 and took a 25+ to a 15 with a smaller monthly.

Nice work man


Thanks! It was surreal.  I started it last July or August.  No points to buy and the upfront cost of the refi was returned x2 in the form of no mortgage payment for two months. Like, fully slid into a great deal without really having the credit score I needed.  So thankful all around.
 
2021-12-09 9:27:13 AM  

fatassbastard: Well... we ARE all going to die.


I meant soon.

So did I.

/hail to thee, kamp krusty
 
2021-12-09 9:35:39 AM  

rubi_con_man: Here's a good 'future policy'

Since the economy is strong, every 2 months, raise the discount rate by .25% until it reaches 5%. Halve the discount window lending period of loans to 45 days. That's 40 months - over 3 years - of slow escalation. That should be a nice way to tell the markets how long they have to clean their mess up. And when we have the next 'crisis' we can drop the discount rate again to stimulate the economy instead of being stuck at the bottom of a well here like we are now.


img-9gag-fun.9cache.comView Full Size


Not mocking your math; I just found this variant and thought it was funny.
 
2021-12-09 9:38:21 AM  

rubi_con_man: Here's a good 'future policy'

Since the economy is strong, every 2 months, raise the discount rate by .25% until it reaches 5%. Halve the discount window lending period of loans to 45 days. That's 40 months - over 3 years - of slow escalation. That should be a nice way to tell the markets how long they have to clean their mess up. And when we have the next 'crisis' we can drop the discount rate again to stimulate the economy instead of being stuck at the bottom of a well here like we are now.


But if you raise rates the wealthy won't be able to borrow below inflation!
 
2021-12-09 9:40:02 AM  

Wobambo: The entire US economic and political system is a scam that deserves to be burned to the ground. World-wide mega EMP and we go back to trading yummy eggs and pretty seashells is the best option out of this insanity.


Realistically, we have the tech level and the amount of liveable land that we could return to an agrarian pastoralist lifestyle. That's a really hard sell though.
 
2021-12-09 9:40:03 AM  

Weatherkiss: Por que tan serioso: Olthoi: Let's get rid of interest rates on mortgages for those earning less than $150k / year.

They are 1.99%. What more do you want???

1.98%


i.makeagif.comView Full Size
 
2021-12-09 9:40:09 AM  
they are making it up as they go on.  this is a weird time.  i don't think there are any true historic equivalents to draw from.  Maybe post WWI?  but even then we did not have the unwinding of a global supply chain mixed with an increasing obtuse banking sector.

either you run a model and stick to your hypothesis, or you wing it with each new bit of data.
 
2021-12-09 9:45:14 AM  
lol Fark trying to analyze what the Fed is doing.

Fark has a history of ALWAYS being wrong about the Fed.
 
2021-12-09 9:47:15 AM  

sinner4ever: Right now The Fed is only there to continue pumping up the bubble. The Boomers don't have to keep it going forever ,just enough to make sure they get everything they can before they die. They don't care who has to clean up the mess or how.


It isn't the Feds fault. They keep buying bonds so the Treasury can keep selling them. Apparently they believe there is no limit to how much of the debt can be quantitatively eased. It turns out that they are right when the rest of the world (mostly billionaires) are there to suck up all the dollars. If you would like to SOLVE the problem that maybe we should lay off the deficit spending - especially when we aren't in a recession.
 
2021-12-09 9:54:59 AM  
The Fed probably knows what they're doing. They might be doing a good thing. They might be doing a bad thing. But they probably know what they are doing.
 
2021-12-09 9:57:14 AM  

johnphantom: Arkanaut: johnphantom: The buck stops where?

The whole point is that the buck doesn't stop!

Ah, so the buck is responsible for the buck?

//tell me about how he can't do anything, so I can laugh at you


You see, it's a pun on the fact that the US dollar, the official currency of the United States of America, which is also widely used as a unit of exchange in international finance, is sometimes also referred to as a "buck". This is thought to have originated with the use of buckskins by American frontiersmen as a unit of trade.1 The term "pass the buck" (and hence "the buck stops here") probably also originated in the American West, but as a poker term equivalent to what modern players call the "button".2

1
https://www.dictionary.com/browse/buck
2https://en.wikipedia.org/wiki/Buck_passing#Etymology
 
2021-12-09 9:59:23 AM  
When this

Fark user imageView Full Size


Became this

Fark user imageView Full Size


it could have gone no other way.
 
2021-12-09 10:12:12 AM  
Other than the business tab, who didn't see this coming?
 
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