Typical Left-Wing Propaganda, This Time From The Fed

^^^ Huh? :confused:

IRVINE, California, Nov 6 (Reuters) - The wealthiest Americans have benefited most from a rising economic tide in the United States, and the resulting widening income inequality should be addressed, San Francisco Federal Reserve President Janet Yellen said on Monday.

"Over the past three decades, much of the gain from excellent macroeconomic performance has gone to just a small segment of the population -- those already in the upper part of the distribution," Yellen said.

Goodness, I couldn't imagine why! Perhaps we should...oh I don't know...ask what happened 30-something years ago?

Maybe it's because the massive, massive amounts of new money created out of thin air since 1971, the year Nixon took us off the gold standard? Maybe it's because a great deal of that money flowed into asset bubbles--stocks, real estate, etc? And wealthier people tend to have more of those assets than poorer people? Maybe it's because most of the money supply is actually created by banks, and loaned to people and businessmen who have credit (again, people who tend to be better off)?

Still, Yellen noted the trend over recent years for economic swings to be less severe and recessions less frequent, with inflation "down to quite moderate levels" and less volatile as well.


That's an outlandish whopper of a lie, the government cooks the books and gets the numbers it wants. Want some interesting reading? Do a google search for "CPI lies" or "CPI nonsense". Especially since 1996. The M3 money supply has doubled--yes, doubled--since that year. That's also around the same time the government made a big change in how it calculates inflation, mainly to hold off on cost-of-living increases for SS recipients.

If it hadn't been for free trade with China, there would be blood in the streets, as consumer goods would have kept pace with inflation for non-outsourceable goods like health care and education. The dumbass Fed saw lower prices due to free trade as a bad thing though, and inflated even further!

"Much of my interest in macro policy has been founded on the believe that it can and should improve the lives of the broad range of our nation's people," she said.

Then stop trying to micromanage the economy, stop enabling the federal government's reckless spending, and stop eroding the value of a dollar. Central planning didn't work for the Soviet Union, why do ivory-tower eggheads think it works for money and credit?

I'd be really interested to hear how she would propose to solve this dilemma. My guess is, socialism. Probably an alphabet soup of new programs. It's like debating over what color band-aid to put over a gaping chest wound. And sadly, the left will fall for it, like a (justifiably) angry bull charging a red cape while missing the true target. There probably isn't one leftie in a thousand who knows that labor unions and the democratic party both used to support hard money.
Why is it that republicans refuse to admit any of bush's policies are wrong. With the exception of the obvious ones like immigration. Bush's policies have been compassionate to who ? certainly not the environment and the middle class. Have you ever looked at your tax brackets ? I make like 70K a year and the next break is down at what ?? like 35K ? I remember back when Clinton was in office there were tax brackets all over the place. Aint now way im getting a tax break because there is no way I can deduct enough to get to the next bracket. But the rich ? Oh yeah, the rich have some brackets.. Hell its almost easier for someone making over 100K to get to a lower bracket than it is for me. Thanks George for the oh so COMPASSIONATE policy. Oh, and thanks for the 150 bucks from your tax break. It went in my gas tank and it changed my life.

You do realize dipshit, that anyone that bothers to read will find Bush's policies have indeed been 'compassionate?' Too much so...
Whenever a policitican--democrat or republican--says anything, hide your wallet. ;)

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