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If you think the Fed should be blown up, as you say. You, in my opinion, are very misguided.

Ha ha ha . You've been had again. The 1978 Humphrey Hawkins act, an Act I'm quite familiar with because it allows a government employment program very similar to what the MMT economists -- of whom I am a student -- later proposed. It does not mandate, nor could any rational Act, mandate 0%...

Thank you. Apology accepted. I was the one that pointed that out. It's an honorary position, he had virtually nothing to do with day to day operations or research, and all the truly important stuff is handed down from the FOMC, the Governors, or the staff. He couldn't mess things up too...

If you were a broker or anyone on the sell side of the financial industry you wouldn't be able to endorse what I said, not publicly anyway. And privately, were you a wise and experienced old hand, my remarks should be quite troubling.* On the other hand, were you a new Goldman recruit, you...

Well there is one thing certain. It was obviously wrong. But it was almost right, only off by a factor of a thousand.

I spent it on Medicare premiums, health care premiums, prescription drugs, dental care, life insurance, car insurance, house insurance, medical insurance, cable TV, gas, electric, water, sewage and garbage utilities, retirement plan, a car, a car mechanic, internet provider, a new roof, and...

:D On my keyboard "T" and "B' are far apart. You are obviously using a new keyboard where they are adjacent . Thus your typo. It's O.K. We all know what you meant.:D jem, you never cease to entertain. And for that I thank you.

Think about this more please in the context of your own company. It's not really rates that make that decision for you. It is business conditions. You'll borrow at higher rates so long as business conditions warrant it. Business condition, i.e., the economy, are limiting. And it is credit...

Exactly. it is the change in demand for credit that affects the change in the amount money circulating in the economy. It's not, generally speaking, the Fed Funds Rate. When you couldn't borrow any more for whatever reason, demand for new credit dried up, even though rates were rock bottom...

I stand corrected. I was unaware of this advanced feature, since I long ago stopped putting lunatics on ignore. Scat, a truly insane person, has apparently used "ignore lite" because he has a large number on ignore, but we can still see and chuckle at his absurd posts. I can continue to enjoy...

That certainly is conventional thinking but it's wrong. At the low extremes of the Funds rate small changes have very little impact on demand for money. It's not at all a linear effect! Only at the very high extremes does the funds rate begin to dampen demand for credit. A perfect example of...

It's pointless to put anyone on ignore. Just skip over their posts rather selectively. The advantage of having someone else put you on ignore, however, is that you will still see their nutty posts and you can speak the truth about them. They won't see your posts. But everyone else will...

I don't no exactly what you mean by money creation, but if your referring to money supply, that is largely dependent on credit demand. Something the Fed has very little control over except perhaps at one extreme of the wholesale cost of money. The Fed is the government, and the government can...

Fair enough, click it.

He can!

Little of which is applicable to Central Banking except in a very indirect way.

a fast (very fast)_growing tumor one would hope. jem, go back to you tube and check on the latest conspiracy theory. There may be a new conspiracy theory out. Yours may be out of date.

A person with Cain's intellect is going to be occupying a seat on the Board of Governors like a cheap mirror would, parroting back what he hears so as not to appear dumb, while contributing very little of the insight that a person intimately familiar with Central Bank operation could...

A business man's job is to think as a shoe salesmen should. The more new shoes that walk out the door, the better. That's not the kind of simple minded profit oriented thinking that's required of a Central banker. A business man is apt to think that returning to the gold standard is a good...

There is no way to sugar coat the incompetence inherent in Trumps nomination of Cain. The reality is that Trump has often preferred to appoint those who contributed heavily to his campaign, not at all unusual in politics, as a primary criterion, in preference to competence, which is highly...