So no stimulus plan but fed can help everyday americans?

murray t turtle · Dec 17, 2020

S2007S said:
Amusing article that shows how the fed is helping every day Americans without a stimulus plan, however the article is hilarious all the way through.

Especially this little tidbit of info
For example, credit card rates are near a four-year low of 16.03%, down from a high of 17.85% when the Fed started cutting rates last July, according to Bankrate.

Funny, four year low??? 16.03% apr all while we get a pretty 0.10% on our savings. Yep thats helping everyday Americans.

https://www.cnbc.com/2020/12/16/the...y-americans-even-without-a-stimulus-deal.html
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Exactly+ we can be better off 16-32% by NOT having credit card debt.
Even with the few that pay off balances within 30 days/its proven any spend more with a credit card..........................................................................

JSOP · Dec 17, 2020

Scataphagos said:
When Powell first took the reins at the Fed, I had hope he'd "do the right thing"... and he started out doing that. (Raising rates, paring down the Fed's balance sheet... you know, responsible monetary things.)

Later however, he jumped onto "money printing to solve all problems".

He deserves to ROT IN HELL... right along with Greenspan, Bernanke, and Yellen.

Truth told, the Fed is actually DESTROYING everyday Americans! They can't afford to buy a house... can't even save money for a down payment. Soon, they'll be bitching they can't afford food! (Don't believe it? Check out the commodity indices.) The Fed keeps telling us "there's no inflation". That's right up there with "the check's in the mail".

Where's the next Paul Volker when we need him so desperately??

W. Wilson apologized to the American people on his death bed for "giving us the Federal Reserve*". (It was one of those "Xmas eve when nobody's around, closed door, backroom" kind of deals that politicos are so fond of.) Everyone who doesn't already know why he regretfully apologized will soon have it dawn on them.

*Which is why he's #2 on my Worst American Presidents Of All Time list, just behind Obama of course.

FWIW... My favorite president, even though he identified as Democrat (egad!) was Andrew Jackson. #1, he was an honorable man of the highest order, #2, he abolished his time's equivalent of the Federal Reserve, and #3, he inspired the song, "The Battle of New Orleans".
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He has no choice otherwise America will be bankrupt by now. Don't blame him for what he is doing. Blame the pandemic!! Before this stupid virus, we were doing all fine. We were well on our way to higher interest rate and then the virus hit... and everything changed.

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So no stimulus plan but fed can help everyday americans?

murray t turtle

JSOP