Drew Litton - [MEME] "I'm not concerned about inflation or gasoline prices. These things shall pass. The biggest issue of our time is January 6."
Muhammad Rasheed - lol Inflation is not going to pass.
Kenney Joe Pierce - @Muhammad... Wanna bet?
Ray Davis - @Muhammad... Has every time it's occurred...
Muhammad Rasheed - Look at the purchasing power of the USD in 1913 compared to now. Has it ever reversed?
The value of our currency has only ever corroded. The Federal Reserve only slows it down, they never fix it.
Muhammad Rasheed - (they will never fix the root cause of that problem)
Kenney Joe Pierce - @Muhammad... Internet economists are always right! 😆
R Wade Eldridge Jr. - @Muhammad... It’s part of the economic business cycle. We always go through stages and inflation, recessions, peak and trough. Yes, it will pass.
R Wade Eldridge Jr. - You were conflating time value of money with respect to inflation. Two separate beast.
Muhammad Rasheed - How are they "two separate beasts" when the reason money is worth less over time is directly related to the inflation caused by Fed manipulations like "easy money" tactics?
R Wade Eldridge Jr. - You were conflating the economic business cycle with the time value of money whereas both consider inflation.
Muhammad Rasheed - My point is that, in the Federal Reserve's role of interest rate controller, their tactics will slow some aspects of inflation, such as that of the normal business cycle, but the one causing time value of money will continue on.
R Wade Eldridge Jr. - You are correct that inflation gets worse overtime, but that’s not the feds fault. They may be a catalyst to certain aspects of the business cycle inflation but they are not the direct cause of inflation. Inflation happens on his own with or without Fed intervention.
Muhammad Rasheed - They may not be the direct cause of some aspects of the regular business cycle inflation (supply/demand), but they are, however, directly and 100% responsible for time value of money inflation, since that USD corrosion began the moment the Fed was empowered in 1913, with the instant build-up of the bubble that led to the Great Depression.
Since then, an unfortunate aspect of our "normal" business cycle under the Federal Reserve does involve the rise of these devastating economic bubbles that the wealthiest among us benefit from.
R Wade Eldridge Jr. - You’ve left out so many factors. You have an even considered the supply side economics elements implemented during the Reagan administration that have caused a lot of these economic bubbles that we are seeing right now totally destroying the social economic forces of society in the United States. Yes coupled with inflation it is bad, but again the Fed is not the direct cause. The are just a catalyst.
Muhammad Rasheed - R Wade wrote: "you’ve left out so many factors."
Said the guy who went from smug know-it-all to "Yeah, you're right, but it's not their fault!" Fed Reserve apologist in an hour.
R Wade wrote: "You have an even considered the supply side economics elements implemented during the Reagan administration..."
I'm pretty sure Reagan officially appointed the Federal Reserve Chairman who advised him, so it seems like bringing that up only destroys your own point.
R Wade wrote: "Yes coupled with inflation it is bad, but again the Fed is not the direct cause. The are just a catalyst."
lol I'm pretty sure 'direct cause' and 'catalyst' are synonyms...
R Wade Eldridge Jr. - The federal reserve does not advise the president. It was Art Laffer, that implemented supply-side at economics. He was not a Fed Chairman.
Muhammad Rasheed - R Wade wrote: "The great depression was caused by overleverage in the financial markets, not the Fed."
Before the Federal Reserve Act, the private bank heads who made up The Money Trust had to bail themselves out when the negative effects of their overleverage in the financial markets would cause the people to Bank Run. After the Federal Reserve Act was passed, the US government is now obligated to bail the banks out when they overleverage in the financial markets causing our time value of money inflation.
It's CLEARLY their fault.
Muhammad Rasheed - R Wade wrote: "It was Art Laffer, that implemented supply-side at economics. He was not a Fed Chairman."
Okay, I see. The so-called "Laffer curve" was actually a tax revenue manipulation scheme. It was Clinton's relationship with Alan Greenspan that made me assume all POTUS administrations were advised by the Federal Reserve (I'm still not 100% convinced they aren't).
R Wade Eldridge Jr. - I think we will have to agree to disagree because we have two different schools of thought on this. That’s ok. The great depression happened in 1929, and the implementation of the Federal Reserve Act occurred in 1913. what the Fed does is more of an art than a science. It’s a dismal science at most, in my opinion. They are not the sole blame. There are so many moving parts to this that you can’t solely blame the fed.
Muhammad Rasheed - R Wade wrote: "I think we will have to agree to disagree because we have two different schools of thought on this. That’s ok."
Well, you give the impression you were probably trained in the material from the pro-Fed position of the industry professional, whereas my interest in the material is that of the activist. Naturally, these would be opposing positions.
R Wade wrote: "The great depression happened in 1929, and the implementation of the Federal Reserve Act occurred in 1913."
lol Of course. We can agree that's the timeline it took for that bubble to pop, yes?
R Wade wrote: "what the Fed does is more of an art than a science. It’s a dismal science at most, in my opinion."
It's a self-serving 'art' of the 1% grifter class that The Money Trust's cousins had been enjoying in Europe, molesting those monarchal economies for centuries, so they were over-eager to implement that same mess in the New World to amass their own hoards. To their credit, the US government successfully held that demon back until the treacherous Woodrow Wilson sold us all out.
R Wade wrote: "They are not the sole blame. There are so many moving parts to this that you can’t solely blame the fed."
They don't work in a void; they do work in partnership with the equally self-serving megacorporate and unscrupulous politicians. Such is the nature of a major aspect of our government corruption.
R Wade Eldridge Jr. - You realize economics is not an exact science. Therefore, it’s a fallacy to impugn concrete elements of logic. We all know that the dismal science of economics has multi-faceted schools of thought throughout the world. You will rarely have economists and schools converge in concert with the opinion because that is all they are, just opinions at the end of the day. We are all benefactors of your opinion of the working partnership equally serving mega-corporate and unscrupulous politicians as such the nature of a major aspect of government corruption. It is called Facebook or META and we are both benefiting from this very moment discussing our points of view. without it, we would be in that void. I could care less of the partnerships and the self-serving mega corporations and unscrupulous politicians because we’re all hypocrites benefiting from it. Change my mind! 🙄
Muhammad Rasheed - R Wade wrote: "you realize economics is not an exact science."
It could've been if it wasn't usurped and managed by the dedicated criminal class.
R Wade wrote: "Therefore, it’s a fallacy to impugn concrete elements of logic."
No, it only gives the false impression that it isn't logical in its workings if one has been trained to believe that the system is "normal" and works the best way it can. Peeling back the plastic coating and looking through the facts of history lens reveals a very logical, and very corrupt truth that the populace would be fighting against if we but knew.
R Wade wrote: "We all know that the dismal science of economics has multi-faceted schools of thought throughout the world."
Yes, we're witnessing the economic technicians of the greedy cliques battling for economic dominance among the wealthiest class as they work out their challenges in keeping super-bubbles from destroying civilization's infrastructure, that's all.
R Wade wrote: "You will rarely have economists and schools converge in concert with the opinion because that is all they are, just opinions at the end of the day."
Is that how they trained you to think of it, or is that how you've come to think of it on your own?
R Wade wrote: "We are all benefactors of your opinion of the working partnership equally serving mega-corporate and unscrupulous politicians as such the nature of a major aspect of government corruption."
Not all. My ethnic group, the Black American former slave class (ADOS) functions as a wealthless bottom caste in this nation we've built (https://bit.ly/3gSCw0S), which represents the point of the government's corruption.
R Wade wrote: "It is called Facebook or META and we are both benefiting from this very moment discussing our points of view. without it, we would be in that void."
Would we? Or would we instead find ourselves enjoying an even better product forged in the fire of a healthy and competitive open free market that Facebook/META pointedly destroyed in partnership with the unscrupulous government officials at the FCC to attain it's current position?
R Wade wrote: "I could care less of the partnerships and the self-serving mega corporations and unscrupulous politicians because we’re all hypocrites benefiting from it. Change my mind!"
We allowed the Bad Guys to take over our government and industries to give us what they wanted to give us in this plutocracy-ruled Second Gilded Age. It was easy for them, because they also enjoyed the population-indoctrinating power of mass media influence to program generations. For all the gadgets that some of us enjoy, this isn't the best situation for the majority of US citizens.
R Wade Eldridge Jr. - OK...
I am concerned about Black wealth and falling equity. I blame years of systemic racism. Another topic for anothr day!!! 😓
Muhammad Rasheed - Did I change your mind? 🤔 😆
R Wade Eldridge Jr. - No, but I really appreciate your attempt and passion to do so.
Make it a good night my friend!✊🏽☺️
Muhammad Rasheed - You're a tough audience, R Wade! lol
Have a great night. It was a fun discussion. Peace!
Richard Travis Brazelton - And Roe!
- Richard posted: "...Headlines from right-wing and traditional media outlets have steadily highlighted the '40-year-high' of inflation being seen in our country’s gas and food prices. Few have pointed out that corporate profits have shot through the roof at the exact same time and to such a degree that saying our current “inflation” isn’t manufactured by big business greed is laughable."
[Rep. Katie Porter demolishes media's 'inflation' mythology | Daily Kos
You saw R Wade insisting that the problems aren't the Federal Reserve's fault, and yet, the corrupt over-reach of megacorporate is often only able to do what they do because of free gifts from the Fed. The "easy money" tactic is when the Fed will deliberately allow funds to build in the system and force lower interest rates in the short term to give megacorporate the opportunity to shoot their big business greed moves to "encourage economic growth" 🙄 which causes the leap in inflation right on cue.
The naïve view of "inflation shall pass" is market manipulation by the bad guys.