|
|
We appreciate your help
in keeping this site going.
|
|
08-28-2016, 09:16 AM
|
|
Senior Member
|
|
Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
|
|
Central Bankers - Economies in the Tank
https://ca.news.yahoo.com/global-cen...-business.html
Mired in a world of low growth, low inflation and low interest rates, officials from the Federal Reserve, Bank of Japan and the European Central Bank said their efforts to bolster the economy through monetary policy may falter unless elected leaders stepped forward with bold measures. These would range from immigration reform in Japan to structural changes to boost productivity and growth in the U.S. and Europe.
Without that, they said, it would be hard to convince markets and households that things will get better, and encourage the shift in mood many economists feel are needed to improve economic performance worldwide. During a Saturday session at the symposium, such a slump in expectations about inflation and about other aspects of the economy was cited as a central problem complicating central banks' efforts to reach inflation targets and dimming prospects in Japan and Europe.
Yellen on "pumping":
Fed Chair Janet Yellen devoted the final page of her keynote talk on possible monetary policy reforms to a list of fiscal and structural policies she feels would help the economy.
Fiscal policy was not on the formal agenda for the conference, but it was a steady part of the dialogue as policymakers thought through policies for a post-crisis world. One of the central worries is that households and businesses have become so cautious and set in their outlooks - expecting little growth and little inflation - that they do not respond in expected ways to the efforts central banks have made.
That has included flooding the financial system with cash, and voicing a steady commitment to their inflation targets in an effort to make people believe they will be met.
That's right Janet. No one with 1/2 a brain believes that dumping money in the economy works, ever has worked, or ever will work. Why the gov't and the Fed keep trying to "make people believe" it will is beyond me. But as if that's not enough, these wizards of smart want to double-down on stupid ideas:
In a lunch address by Princeton University economist Christopher Sims, policymakers were told that it may take a massive program, large enough even to shock taxpayers into a different, inflationary view of the future.
"Fiscal expansion can replace ineffective monetary policy at the zero lower bound," Sims said. "It requires deficits aimed at, and conditioned on, generating inflation. The deficits must be seen as financed by future inflation, not future taxes or spending cuts."
Its time to start putting cash in the mattress.
|
08-28-2016, 12:10 PM
|
|
Jigsawed
|
|
Join Date: May 2009
Posts: 10,575
|
|
Quote:
Originally Posted by whell
|
How is that going to occur when so much is sucked upward and parked outside of the country?
Additionally what use to come from China and Russia to provide bright spots such as in Paris, London, Vancouver, LA, New York, San Francisco has been reduced considerably and the good paying working class jobs in gas and oil are disappearing.
The globalists are on a relentless drive to bring the workers of first world to the floors of that 2nd and 3rd world.
Workers in the first world are going to find it harder and harder to create savings or hold on to what they have saved.
Last edited by Dondilion; 08-28-2016 at 12:25 PM.
|
08-28-2016, 12:54 PM
|
|
Ready
|
|
Join Date: Oct 2013
Posts: 19,145
|
|
Also, when the big guys start talking up inflation, that's NOT the time to keep your wealth in cash, let alone in a mattress that doesn't pay any return.
__________________
If you Love Liberty, you must Hate Trump!
|
08-28-2016, 12:58 PM
|
|
Senior Member
|
|
Join Date: Mar 2014
Location: NE Bamastan
Posts: 11,057
|
|
Does that mean the so-called "Conservatives" in the US are globalist because their policies decimated the middle class?
Sent from my SM-N900V using Tapatalk
__________________
I'll believe corporations are people when Texas executes one.
|
08-28-2016, 03:31 PM
|
|
Ready
|
|
Join Date: Oct 2013
Posts: 19,145
|
|
Quote:
Originally Posted by Pio1980
Does that mean the so-called "Conservatives" in the US are globalist because their policies decimated the middle class?
Sent from my SM-N900V using Tapatalk
|
Nowadays the so-called US conservatives mainly work for the globalists.
__________________
If you Love Liberty, you must Hate Trump!
|
08-28-2016, 04:07 PM
|
|
Rational Anarchist
|
|
Join Date: Jul 2014
Location: DFW
Posts: 7,315
|
|
The Clintons and Obama are globalists.
__________________
"We have met the enemy and he is us."
|
08-28-2016, 04:30 PM
|
|
Senior Member
|
|
Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
|
|
Quote:
Originally Posted by Dondilion
How is that going to occur when so much is sucked upward and parked outside of the country?
|
The bankers have identified the right disease - lack of economic growth - but totally screwed up the suggested cure. Growth is what's needed. Averaging 2% growth over the past decade is the biggest contributor to the perceived income / wealth disparity. But you're not going to fix it by tailoring a debt - laden government spending spree.
|
08-28-2016, 04:32 PM
|
|
Senior Member
|
|
Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
|
|
Quote:
Originally Posted by donquixote99
Also, when the big guys start talking up inflation, that's NOT the time to keep your wealth in cash, let alone in a mattress that doesn't pay any return.
|
When the "big guys" come up with their hair-brained ideas, that's exactly the time fill the mattress. If that happens, money will get sucked out of the economy, but it won't be inflation as the primary culprit. It will be negative GDP growth, aka recession or worse.
|
08-28-2016, 05:37 PM
|
|
Area Man
|
|
Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
|
|
Has listening to Republicans become as deeply depressing for everyone else as it has for me? Christ, what a miserable lot these hopelessly pessimistic people are.
Anyhow;
So, thirty five-forty years ago the enemy was identified as inflation causing economic stagnation and we were told that labor unions and high wages were the cause. That rising wages kill growth. Now, we are told the problem is a lack of inflation and declining incomes due to globalism and the third world exerting downward pressure on wages?
You know what? I think whoever said this is right.
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
|
08-28-2016, 05:40 PM
|
|
Senior Member
|
|
Join Date: Mar 2014
Location: NE Bamastan
Posts: 11,057
|
|
Universal "Growth" is not a sustainable policy.
Sent from my SM-N900V using Tapatalk
__________________
I'll believe corporations are people when Texas executes one.
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -5. The time now is 03:36 AM.
|