So no stimulus plan but fed can help everyday americans?

S2007S · Dec 17, 2020

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

Scataphagos · Dec 17, 2020

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".

Rickshaw Man · Dec 17, 2020

Unfortunately, there is no turning back. The FOMC will run the balance sheet up to 100 trillion over the next decade. When it reaches that point, they will then reset the debt. Simple as that.

wrbtrader · 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

Credit card rates at a 4 year low but at record debt highs for Americans.

https://www.cnbc.com/select/us-credit-card-debt-hits-all-time-high/

All there needs to happen is a black swan event (e.g. Pandemic) to ruin peoples personal lives and financial lives.

wrbtrader

Scataphagos · Dec 17, 2020

Rickshaw Man said:
Unfortunately, there is no turning back. The FOMC will run the balance sheet up to 100 trillion over the next decade. When it reaches that point, they will then reset the debt. Simple as that.

"Reset the debt"?

What exactly does that mean? Will that be a good thing?

Who will get screwed in the reset? Who will benefit?

stochastix · Dec 17, 2020

My life was ruined before the pandemic, i came bank from the brink of death, and im now doing well. what a weird world

hilmy83 · 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".

Andrew jackson? The architect of the trail of tears and the one who cancelled Lincoln's reparations to the former slaves?

I personally like Lincoln. He saved the union and at least tried to mend relations ...

Scataphagos · Dec 17, 2020

hilmy83 said:
Andrew jackson? The architect of the trail of tears and the one who cancelled Lincoln's reparations to the former slaves?

I personally like Lincoln. He saved the union and at least tried to mend relations ...

Just like anybody else... we like what we like about them and tolerate their shortcomings.

However... "cancelling the Federal Reserve" of his time was HUGE FOR THE ENTIRE COUNTRY compared to what you've whined about.

Scataphagos · Dec 17, 2020

hilmy83 said:
Andrew jackson? The architect of the trail of tears and the one who cancelled Lincoln's reparations to the former slaves?

I personally like Lincoln. He saved the union and at least tried to mend relations ...

I read a story recently that claimed "Lincoln didn't like black people". Didn't look into it further. I dunno.

Turveyd · 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".

If it helps, this isn't just america, this is all over the entire world.

GREAT RESET is a coming!!