to those who can think and reject their conditioning. its really odd when lefties are supporting the Federal Reserve. They are not really liberals any more.
The main thing standing in the way of home ownership for many millennials is student loan debt. This is their own fault however. If they had planned ahead and become an illegal alien, the government would have picked up the cost of their education, plus living expenses for them and their whole village back home. The weird trick about this is that immigrants are also driving down their salaries. But hey, Orange Man bad.
I will once again post what is actually happening because we all seem to be much smarter than millennials, so much so that we feel like we don’t even need to listen to them. The point is millennials aren’t stupid, they what’s happening to them. You guys should just try listening to them for a change instead of banging your heads against a brick wall.
I will not. There’s this stupid consensus building among people on the right that Fed is the cause of all things bad in the economy and it’s such a garbage theory. The Great Recession was in fact caused by a lack of government regulation and that crash deflated housing prices. Those effects were systemic and had the potential to be devastating long term. The Fed did a nice job during the recession. They acted precisely as they were supposed to and we got the predicted outcome, stable inflation and full employment. They also helped stabilize the housing market. Now the Fed is under assault from the right to produce easy money during expanding economic times and this is precisely what they should not be doing. Using the Fed to juice profits is pure corruption. The Fed is being manipulated by a movement of dangerous and confused people. It is not something to play with and certainly not a place for clowns like Herman Cain and hacks like Stephen Moore. And what if the Fed were “blown up?” Do you have any idea of how uncompetitive we would be globally or how fast we would fall in standard of living without proper control of our money? We’d be a third world country almost over night with some states opting to use their own currency with their own central bank, totally legal btw. Like I said a bunch of people who spend too much time complaining and not enough time learning say things like blow up the Fed. As to millennials not buying houses, all you have to do is ask a 28 year old and you’ll learn the major factor is if they don’t have a college degree they don’t earn enough to own a house and if they have a college degree or trade cert they owe too much money to own a house.
It's confusing when you progs are clearly for something, like turning us into a third world country (and nice job on that so far BTW) but then turn around and hold the same thing up as a problem. Which is it?
Partly true. The Fed under Bernanke was asleep at the switch and allowed an obvious housing bubble to form. So you could say that was a failure of regulation, despite the fact that dems in congress, eg Barney Frank, blocked any sort of meaningful regulation. At the same time, Bernanke recklessly raised rates without appreciating how fragile the entire system was, so I blame the Fed for the severity of the Great Financial Crisis.
If you want to debate whether the Fed is good/bad or problem/not a problem, lets do it. But stop with the whole millenial consumer insights discussion. No one is going down that silly rabbit hole. The Fed did a nice job during the recession that they created, by doing what they always do - cutting rates and turning on the spigots of money into the system to induce more borrowing and debt. The problem is that the recession was brought on by debt in the first place. If you are addicted to heroin, and go cold turkey, helping yourself feel better with more heroin isn't going to solve the long term problem of addiction. Wait, what? Above you say people on the right say the Fed is the cause of "all things bad in the economy". First, show me a link that supports that, please. The all things bad. Then you say the Fed is under assault from the right to produce easy money. Again, link please. If you mean President Trump is saying that, then fine - he's clearly an idiot here and if you want me to agree to that, no problem. But the right isn't calling for easy money. The President is. Some bankers might be, too. Let me absolutely clear - easing rates is the wrong thing to happen. But the Fed knows how to do one thing, and that is ease. It never has the stomach to handle any real tightening, and the first moment the market throws a tantrum (Q4 of last year) they fold like a lawn chair. It's not a place for hacks like Yellen, Bernanke, Brainard, Dudley or half of the loons that have frequented its halls either. At least by putting someone with real world business sense in there, you're watering down the pure academia (which has been wrong time and time again). This is sheer idiocy. A computer could decide interest rates. Back on the consumer insights again. Blah blah...