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| Does the Fed Have Too Much Power? | |
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| Tweet Topic Started: 23 Nov 2009, 05:31 PM (462 Views) | |
| Ryan | 23 Nov 2009, 05:31 PM Post #1 |
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Intellectual
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I'm mostly drawing attention to the NBC Newsvine poll (go vote in that one as well!) and its results, but we could turn this into a full blown discussion of the Federal Reserve. The National Results (so far, as of the time of this posting) of the poll above: ![]() http://business.newsvine.com/_question/2009/11/22/3531460-does-the-fed-have-too-much-power Guess what I voted. |
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| Richard | 23 Nov 2009, 05:45 PM Post #2 |
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Minister of Love
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What about "yes, it should be limited to controlling the inflation rate like European central banks" |
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| Maxwell Wilder | 23 Nov 2009, 05:50 PM Post #3 |
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Veteran
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Last, because economic prosperity breeds apathy. |
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| Ryan | 23 Nov 2009, 06:15 PM Post #4 |
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Intellectual
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That's actually a good point. Though I would still be averse to all Central Banks, I would strongly favor the European Central Bank with its single mandate of price-stability (although then it brings up the problem of "the price-level.") over the Fed. |
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| Maxwell Wilder | 23 Nov 2009, 06:30 PM Post #5 |
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Veteran
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Wanna contest this point?
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| Ryan | 23 Nov 2009, 06:32 PM Post #6 |
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Intellectual
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Interesting claim - apathy towards what? Politics? Or life in general? |
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| Maxwell Wilder | 23 Nov 2009, 07:43 PM Post #7 |
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Veteran
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Politics. There's a cartoon by the Boondocks on it, I have to find it in my treasure trove of LEGAL DOWNLOADS.
Edited by Maxwell Wilder, 23 Nov 2009, 07:44 PM.
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| Ryan | 23 Nov 2009, 07:45 PM Post #8 |
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Intellectual
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I don't see that as a bad thing, per se. The problem is, politics have already been fucked up, and then there's economic progress. If there were no State (and thus no bad politics), then economic growth producing apathy would be a great thing. But now we have to get rid of the bad politics, and then have economic progress. |
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| Maxwell Wilder | 23 Nov 2009, 07:48 PM Post #9 |
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Veteran
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Hitler made economic progress, and look what apathy did to Germany.
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| Ryan | 23 Nov 2009, 07:52 PM Post #10 |
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Intellectual
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Yeah that's exactly what I'm saying - you can't let the State come in and mess things up, because once any economic prosperity occurs, people will forget the awful things that Statism breeds, and they'll never go away. And what typically happens is when people actually realize these problems, in times of crisis, they turn to the State to give it more power, and make the next crisis that much worse. It's the timeless, vicious cycle. |
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9:25 AM Jul 11