"champion" LOL that's a tough contradiction you've uncovered there. give it some more thought and come back with a possible reason
Thats simply your socialist or lefty liberal rhetoric against those with more and against a world which has not blessed you with great riches.Lighten up. But seriously, yes, arguments against the Fed rate reductions were posed in the financial press & I assume you and others at ET would have tried to weigh their merits & demerits. I found them not in the mainstream and lacking in alternate answers to apply to a very tricky situation.
Anybody who is a student of Jack Hershey's methods belongs in the loony bin. Talk about making simple things complicated.
Good poll. Corresponds to my rough guess that two-thirds to three-fourths of the posters here are not to be taken seriously. Mind you, I don't think the Fed should be in the business of setting interest rates. That's a free-market function. But I don't think they should be abolished. They are the lender of last resort, because someone has to be. When they inject money, as they did yesterday, they are performing a legit function. It's why they're called the Federal Reserve - it's the reserve that backs up all the other reserves. Also, by getting the funds rate back to 4.5%, they're getting it down to a level they should never have let it get above, under normal economic conditions. So, we're now where we should be, and I like the fact that the latest Fed statement acknowledges that by pretty much coming out and saying that they're done. I get excoriated every time I say the FF should never have been above 4.5%, and yet now the Fed has reduced to the same level I came to through my own analysis, and has decided it will leave it there. Fancy that. Actual analysis of the real world: y'all should try it sometime.
Do you even know what you are saying? You believe that my reference to the perpetuation of mindless gluttony in my earlier post was a socialist reference? Did you read the part about getting it back asswards? In a capitalist environment, people should own up to their stupid investment decisions, along with the attendant consequences, and ought not expect everyone else to bail them out. Which is what the Fed did. The gluttons are high on their horse about self-sufficiency and pulling one's self up by his own bootstraps when things are going well for them. But they quickly wrap themselves up in the flag when they fuck up, expecting the Fed to do the "right" thing. There is nothing quite so repugnant as a fair-weathered capitalist who speaks from both sides of his mouth and seamlessly transitions to "socialist" when it suits him.
All of that is prejudiced silly stuff & you're far from understanding the importance of what the Fed did. You don't have the background to even faintly know.
Thank you for your considered assessment and your fine contribution to this thread. It is your reference to specifics that lead me to conclude that you know much about the topic at hand.