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Forum Post: The answer is right in front of you. (We're on a road to nowhere)

Posted 11 years ago on Aug. 23, 2012, 8:23 a.m. EST by richardkentgates (3269)
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Road To Nowhere

The economic policy of the US is currently controlled by a group of 1%ers who cannot be held accountable by the public. The policy makers at the FED are given a wide birth because they are protected under the ruse of national security per Executive Order 12333 (1981).

The only way to take power back from the 1% is for our elected officials to remove this task from the Federal Reserve and place it in the hands of people who can be held accountable through democracy and the vote. Especially the area of economics surrounding inflation policy, leverage controls and limits.

Controlling leverage is the most powerful tool our government could have in controlling inflation, risk, and how much the bankers can make off the backs of the working class.

You may be surprised to discover how many people only halfheartedly support change once you begin discussing this with them. One because this is a real solution and not just the typical noise. Secondly because they themselves may hold investments that will see smaller returns if the economy were structured to fairly compensate the working class.

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Get ready for another drop in the value of your paycheck and a crack of the whip on the backs of the poor.

It depends on what class you're in (Inflation/Deflation - you need to understand the impact)



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[-] 1 points by richardkentgates (3269) 11 years ago

The economy sucks not in spite of the FED pumping money into Wall Street but exactly because the FED is pumping Money into Wall Street.

What part of this is everyone not getting?

[-] 1 points by richardkentgates (3269) 11 years ago

Deflation or Hyperinflation. These are the choices that need to be made. If these decisions are not made, it will be made for everyone once the next credit downgrade comes. Fiscal cliff or no, the credit downgrade is coming because we are in over our heads. Less than 2% growth this year and there is no reason to see 2013 doing any better, even if the cuts don't take effect. A credit downgrade means a cash dump back into an already cash saturated banking system, this will kick start hyperinflation.

Not only would a slight amount of deflation strengthen the dollar, it will lower prices and that will stimulate demand and increase employment. Deflation will also help small businesses because the price deflation will happen at the commodities and first production levels first, saving small biz some cash. You won't hear the 1% talking about this because the lower prices means less profits for them.

Or just keep ignoring this and wait for hyperinflation, I don't really give a shit.

[-] 1 points by DebtNEUTRALITYpetition (647) 11 years ago

Yep, your conclusion is correct. Too many people gain with the system the way it is. That's why I think Debt Neutrality is important. It still pays back loans, but it enables people to pay down their debts without anymore interest rate charges, fees or interest.