I think you hit the nail on the head Editec. It appears that inflation in certain areas, like real estate, is good for the wealthy class, so The Fed encourages that with cheap money. I wonder if there is any friggin' way to have an economy that is not manipulated towards the benefit of one class over another...
-Joe
Well you could start out with the presumption that the purpose of the FED is to foster growth that helps the nation instead of the just the market.
You could stop thinking that workers wage increases are a bad thing, but stock increases are always indications that the economy is in good shape.
You could start creating economic indicators that address how the working class is doing, and react to changes in those indicators, rather than creating economic indicators which only measure businsss indicators as significant.
But you have to ask yourself, how we can do that, when the people in charge of the economy are all bankers?
After all, not to fault them, but they ARE prejudiced into thinking that the only thing that matters is the health of the businesses in the nation.
They haven't given a rat's ass that the working class has been getting poorer for the last 40 years, for example. Why should they? It's not their jobs to care about the sheeple.
And the ONLY reason you hear anything about middle class relief,
now, is because the middle class is so damned broke that it cannot support that consumer driven economy the markets and our government's trade policies have created.
We are NOT going to get significantly different outcomes in our eeconomy as long as we allow the same damned class to control our society, folks.
Those people quite naturally approach every problem with their own classist biases.
When was the last time you heard about the misery index?
It is a valid an economic indicator as any other, but the government doesn't care about it.
Why not?
Because, frankly, the government does not care about the misery on Main Street.
It cares ONLY about the misery on WAll Street.
As does the FED
As does the Treasury.
As do about half the people right here on this very board.
This is our classist human nature writ large into our macro-economic institutions, folks.
