I thought the Federal Reserve issues money?

[The Irish Ram]

Super, I like rhetorical questions as much as the next guy. How about: You're absolutely right, what in the heck has that got to do with the price of rice in China?

The Fed's not a corporation, it's an independent agency. Other independent agencies include NASA, Social Security, the CIA. You don't want to ban all independent agencies do you?

If you're planning on ending just the Fed, ain't gonna happen. Too many people like things better now, they'll stop you.

The Federal Reserve is a corporation. It governs our economy, we don't govern it. We are told what our interest rate will be. We are told when we are allowed to print money. The Federal Reserve banks are privately owned, and the "public part" of the operation is a created benign "Board of Governors" as a go between.

The FR has nothing to do with the quality of life, Social Security or NASA. What is it about the interest rate do you think is favorable for the majority of the public? What is it you think the private central banks are doing for the good of mankind?

 

[ESay]

The Irish Ram was talking about changes since 1913, namely the value of the dollar. Please tell me what your thoughts are here, are you saying life was better in 1980 than now? Somehow that doesn't make much sense to me.

I don't know whether it was better or not. But quite a few people, including here, are longing for 'the old days' when an average middle-class person was more prosperous than today.

 

[expat_panama]

The Federal Reserve is a corporation...

LOL!!! OK, so I could say that YOU'RE a corporation too but then you & I both would be talking like idiots. It's seems better if only one of us makes things up.

cheers

 

[expat_panama]

I don't know whether it was better or not. But quite a few people, including here, are longing for 'the old days' when an average middle-class person was more prosperous than today.

It kind of sounds like the "cracked tile syndrome". When we look at a tiled floor our eyes spot a cracked tile real fast, so much so that we forget the hundreds of tiles that are just fine.

The good old days were old but they weren't as good as today. Sure we miss times w/ parents & grand parents that are gone, but life was harder and we forget that. Another problem are those that make a career out of complaining about everything in sight. You ask them what they want & they tell you what they don't want.

People who are unhappy for a living are a burden to those around them.

 

[Toddsterpatriot]

We are told what our interest rate will be

What did the Fed tell you your mortgage rate would be?
What about your car loan and credit card rates?

 

[ESay]

It kind of sounds like the "cracked tile syndrome". When we look at a tiled floor our eyes spot a cracked tile real fast, so much so that we forget the hundreds of tiles that are just fine.

The good old days were old but they weren't as good as today. Sure we miss times w/ parents & grand parents that are gone, but life was harder and we forget that. Another problem are those that make a career out of complaining about everything in sight. You ask them what they want & they tell you what they don't want.

People who are unhappy for a living are a burden to those around them.

The thing was not about whether in the old good days the sun was brighter and that grass was more green. It was about what an average worker could get from their salary then and now. Affordable healthcare, housing, cheap but healthy food, education for the children, etc. But if you sat that 'now' is far better than 'before' in this regard, then OK, I'll take your word for that

 

[expat_panama]

---what an average worker could get from their salary then and now...

Tossing out big words w/o numbers is fun, it's what most folks do.

If it would make any difference we could dig up average per capita income numbers from the BEA and compare them to the actual costs to consumers. My bet is that it would show that people live better now. You seem to disagree.

Please ask yourself if hard numbers would matter and let me know if you care about reality, even if it could disagree w/ a long standing belief system. I know that I'm not infallible and I have to change my cherished beliefs regularly. How about you? We could look together and who knows, maybe we could even find out you're the one who's right & it's me who changes a point of view.

You game?

 

[expat_panama]

What did the Fed tell you your mortgage rate would be?
What about your car loan and credit card rates?

You might find a problem w/ The Irish Ram there. I got into a discussion w/ him where he was saying that the Fed was a corporation. When I tried to point out that it's an independent agency and not a gov't owned corporation (like the corporation for public broadcasting), I got no where.

 

[ESay]

Tossing out big words w/o numbers is fun, it's what most folks do.

If it would make any difference we could dig up average per capita income numbers from the BEA and compare them to the actual costs to consumers. My bet is that it would show that people live better now. You seem to disagree.

Please ask yourself if hard numbers would matter and let me know if you care about reality, even if it could disagree w/ a long standing belief system. I know that I'm not infallible and I have to change my cherished beliefs regularly. How about you? We could look together and who knows, maybe we could even find out you're the one who's right & it's me who changes a point of view.

You game?

I asked not for arguing per se, but rather for a personal opinion and experience. Especially from a guy that decided to move to Latin America (if I judge correctly your username).

 

[expat_panama]

I asked not for arguing per se, but rather for a personal opinion and experience. Especially from a guy that decided to move to Latin America (if I judge correctly your username).

LOL!!! I'm in Round Rock Texas right now. The IRS believes I'm permanently in the U.S. and maybe we don't want to get into what's my residence is, or home of record, domicile, location, etc.

fwiw, here's average real income..

--and here's real average individual wealth:

We're better off and continuing to improve.

 

[ReinyDays]

Sorry I'm late ... have we clarified the Bureau of Engraving and Printing's roll in the money supply? ... yeah, my expertise is in 19th Century printing processes ... and no, neither Treasury nor the FED own intaglio printing presses ...

The FED is a cartel of banks ... see how they fix interest rates? ... there's more to this but for you and I, it's a cartel ... invest wisely ...