Was the Fed created by democrats or Republicans?

[Toddsterpatriot]

A contractual promise to pay is absolutely a debt.

No it isn't. I promise to give you $1 million in 10 years.
What interest rate am I paying on that "debt"?

 

[Toddsterpatriot]

The fed was created to prevent recessions - Bing

Intelligent search from Bing makes it easier to quickly find what you’re looking for and rewards you.

www.bing.com

Crises Before and After the Creation of the Fed - San Francisco Fed

The Federal Reserve was created 100 years ago in response to the harsh recession associated with the Panic of 1907. Comparing that recession with the Great Recession of 2007–09 suggests the Fed can mitigate downturns to some extent. A statistical analysis suggests that if a central bank had...

www.frbsf.org

Thanks for the links.

The Federal Reserve, the U.S. central bank, was created in 1913 to smooth out boom-and-bust cycles in the economy. It has developed a variety of methods to soften the pain of recessions,

Do you have any that back up your claim?

 

[CrusaderFrank]

Thanks for the links.

The Federal Reserve, the U.S. central bank, was created in 1913 to smooth out boom-and-bust cycles in the economy. It has developed a variety of methods to soften the pain of recessions,

Do you have any that back up your claim?

Before the Fed, booms and busts worked themselves out in less than 2 years and did not add to the national debt.

Think on that

 

[CrusaderFrank]

Look up Panic of '93.

Panics and Busts were much worse than what we go through now.

I was an Economics Major at Queens College and I was lucky to have one of the last ever Chicago School Professors allowed to teach in NYC.

The Panic of 1893 was multiprong: US crop failures, foreign trade going sideways, currency deflation then massive silver influx, the ending of a 20 year boom cycle that caused companies to overextend, etc.

Was the Fed going to save the wheat crop?

 

[Toddsterpatriot]

Before the Fed, booms and busts worked themselves out in less than 2 years and did not add to the national debt.

Think on that

Before the Fed, booms and busts worked themselves out in less than 2 years

They were more frequent, deeper and lasted longer. On average.

and did not add to the national debt.

Well, shit! 110 years ago the government was a reasonable size.
Doesn't mean busts are longer and deeper today.

US Business Cycle Expansions and Contractions

www.nber.org

We had three in the 1860s. 58 months total.
One in the 1870s. 65 months.
Two in the 1880s. 51 months total.
FOUR!!!! in the 1890s. 63 months total.
Two in the 1900s. 36 months total.

Show me it was worse after the Fed was created.
And yeah, they fucked up big time by letting all the banks fail in the Great Depression.

 

[Toddsterpatriot]

I was an Economics Major at Queens College and I was lucky to have one of the last ever Chicago School Professors allowed to teach in NYC.

The Panic of 1893 was multiprong: US crop failures, foreign trade going sideways, currency deflation then massive silver influx, the ending of a 20 year boom cycle that caused companies to overextend, etc.

Was the Fed going to save the wheat crop?

Was the Fed going to save the wheat crop?

No. Does that mean they couldn't have shortened/lessened the '93 bust?

 

[CrusaderFrank]

Was the Fed going to save the wheat crop?

No. Does that mean they couldn't have shortened/lessened the '93 bust?

Not given their track record, no

 

[BackAgain]

And he lost $1.7 billion. Nothing to do with pensions.

Not correct. It had a hell of a lot to do with pensions.

Twenty Years after OC Bankruptcy and $5 Billion in Pension Debt

December 6, 2014 marks the twenty-year anniversary of Orange County filing for bankruptcy. For 18 years, Orange County Treasurer Robert "Bob" Citron had |

www.breitbart.com

 

[BackAgain]

No it isn't. I promise to give you $1 million in 10 years.
What interest rate am I paying on that "debt"?

I don’t care if it’s zero or, after you lose at trial, the court imposes interest on the debt Obligation. The interest rate isn’t the question. The question is whether a contractual obligation can be a debt or not. And it sure can.

 

[CrusaderFrank]

Before the Fed, booms and busts worked themselves out in less than 2 years

They were more frequent, deeper and lasted longer. On average.

and did not add to the national debt.

Well, shit! 110 years ago the government was a reasonable size.
Doesn't mean busts are longer and deeper today.

View attachment 715423

US Business Cycle Expansions and Contractions

www.nber.org

We had three in the 1860s. 58 months total.
One in the 1870s. 65 months.
Two in the 1880s. 51 months total.
FOUR!!!! in the 1890s. 63 months total.
Two in the 1900s. 36 months total.

Show me it was worse after the Fed was created.
And yeah, they fucked up big time by letting all the banks fail in the Great Depression.

Year	Months (peak to Trough)
1857​	18​
1860​	8​
1865​	32​
1869​	18​
1873​	65​
1882​	38​
1887​	13​
1890​	10​
1893​	17​
1895​	18​
1899​	18​
1902​	23​
1907​	13​
1910​	24​
1913​	23​
AVG	23

Pre Fed Average peak to trough was under 2 years and national debt was a rounding error.

When were we better off??

Also, post Fed, Coolidge and Harding IGNORED Progressive dingbats and ended a bad recession in 18 months. Later, Reagan also ignore Progressive Dingbats and created a multi decade business boom adding TRILLIONS to the economy

 

[Toddsterpatriot]

Not correct. It had a hell of a lot to do with pensions.

Twenty Years after OC Bankruptcy and $5 Billion in Pension Debt

December 6, 2014 marks the twenty-year anniversary of Orange County filing for bankruptcy. For 18 years, Orange County Treasurer Robert "Bob" Citron had |

www.breitbart.com

What does an article with 2014 numbers have to do with their 1994 bankruptcy?

 

[Toddsterpatriot]

I don’t care if it’s zero or, after you lose at trial, the court imposes interest on the debt Obligation. The interest rate isn’t the question. The question is whether a contractual obligation can be a debt or not. And it sure can.

Winning in court doesn't turn my liability into debt.

 

[Toddsterpatriot]

Year	Months (peak to Trough)
1857​	18​
1860​	8​
1865​	32​
1869​	18​
1873​	65​
1882​	38​
1887​	13​
1890​	10​
1893​	17​
1895​	18​
1899​	18​
1902​	23​
1907​	13​
1910​	24​
1913​	23​
AVG	23

Pre Fed Average peak to trough was under 2 years and national debt was a rounding error.

When were we better off??

Also, post Fed, Coolidge and Harding IGNORED Progressive dingbats and ended a bad recession in 18 months. Later, Reagan also ignore Progressive Dingbats and created a multi decade business boom adding TRILLIONS to the economy

15 recessions in 56 years.
How many have we had in the last 56 years? (8)
What was their average length? (10.6)

I agree, Harding, Coolidge and Reagan are better than anyone we've had since.

 

[Foxfyre]

Thanks for the links.

The Federal Reserve, the U.S. central bank, was created in 1913 to smooth out boom-and-bust cycles in the economy. It has developed a variety of methods to soften the pain of recessions,

Do you have any that back up your claim?

That is pretty much the context of the links I posted.

 

[Toddsterpatriot]

That is pretty much the context of the links I posted.

"Smoothing out boom and bust cycles" isn't the same as "created to prevent recessions"

 

[Natural Citizen]

The booms, busts and bubbles of the business cycle are and have historically been caused by the Federal Reserve's actions.

Now we're on the verge of a crack-up boom. The stage is set for it. And it's why we're starting to see the BIS come out of the woodwork, whereas it usually prefers to keep a low profile. They know what's coming. They know that the Fed has effectively lost the ability to control the price of so-called ''money.'' And I've already mentioned previously in the thread about the underhanded reason for the sudden push by the Fed (and the BIS) to digital currency and the strategic assault on physical mediums of exchange.

What Is a Crack-Up Boom? Definition, History, Causes, and Examples

A crack-up boom is the crash of the credit and monetary system due to continual credit expansion and price increases that cannot be sustained long-term.

www.investopedia.com

 

[Foxfyre]

"Smoothing out boom and bust cycles" isn't the same as "created to prevent recessions"

Yes. It is.

 

[Toddsterpatriot]

Yes. It is.

Smoothing ≠ preventing.

Not even a little.

 

[Toddsterpatriot]

The booms, busts and bubbles of the business cycle are and have historically been caused by the Federal Reserve's actions.

Now we're on the verge of a crack-up boom. The stage is set for it. And it's why we're starting to see the BIS come out of the woodwork, whereas it usually prefers to keep a low profile. They know what's coming. They know that the Fed has effectively lost the ability to control the price of so-called ''money.'' And I've already mentioned previously in the thread about the underhanded reason for the sudden push by the Fed (and the BIS) to digital currency and the strategic assault on physical mediums of exchange.

What Is a Crack-Up Boom? Definition, History, Causes, and Examples

A crack-up boom is the crash of the credit and monetary system due to continual credit expansion and price increases that cannot be sustained long-term.

www.investopedia.com

The booms, busts and bubbles of the business cycle are and have historically been caused by the Federal Reserve's actions.

What caused booms, busts and bubbles before the Fed?

They know that the Fed has effectively lost the ability to control the price of so-called ''money.''

How do you figure that? They're raising another 1.5% this year alone.

You don't think they can keep hiking until they get Bidenflation under control?

 

[Natural Citizen]

They'll never hike rates to where they should be in a genuine free market.

All they're doing is raising them just enough to where it will cause stagflation.

This stuff isn't rocket science, Toddster. It's predictable.

Watch and see...

At the end of the day, there are no man-made "policies" that have the capability of revoking economic laws. There are no shortcuts. There are no loopholes. There are no free lunches. Truth always destroys a narrative. Economic laws will always decide fate. Always....