U.S. Fed's reverse repo volume surges to record half a trillion dollars

[Sig]

Not so much the profits. But, the level of participation that is propping up zombie firms.

First off, I admit I'm a bit of a Jeffersonian nerd and have read most of what he wrote. You said

Jefferson's fears realized.

Where, exactly, did Jefferson express fears about "propping up zombie firms"?

Secondly, would you have any specific examples of these "zombie firms" you can name off the top of your head without googling? And perhaps an explanation of why you and apparently Jefferson see them as some kind of threat to U.S. democracy?

 

[xandman]

First off, I admit I'm a bit of a Jeffersonian nerd and have read most of what he wrote. You said
Where, exactly, did Jefferson express fears about "propping up zombie firms"?

Secondly, would you have any specific examples of these "zombie firms" you can name off the top of your head without googling? And perhaps an explanation of why you and apparently Jefferson see them as some kind of threat to U.S. democracy?

Nowhere. The word zombie may not have even been part of the English language back then.

GE. AIG... Dow 30 Industrials with high debt ratios. The bulk of companies in the junk bond index.

Jefferson, I believe, opposed Hamilton's idea for a national bank. That it would not serve the people. Jackson may have been the same but he is not mentioned as much.

 

[xandman]

off the top of your head without googling?

What a presumptuous, arrogant Jackass. I already know where you want to take this.

 

[Sig]

What a presumptuous, arrogant Jackass. I already know where you want to take this.

I'm just confused, first you say the Fed is bad because it made a profit...because Jefferson. Then you say, well not actually the profits, its actually bad because it's propping up zombie firms...which has nothing to do with Jefferson. But I'm a "presumptuous, arrogant Jackass" because I point out that you're completely inconsistent in why you're so against the Fed? All righty then.

GE has $100B+ market cap and had over $5B in profit last year, and makes a bunch of stuff that's fundamental to our current way of life from electric generators to jet engines to MRI machines. In what universe is that a "zombie" that's some kind of fundamental threat to the American way of life such that Jefferson would be worried about it? Do you seriously think that getting rid of all the GE's in the country will make it a better place, financially or in any other way?