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Originally Posted by samcol
Ya, what's funny is that people blame Bush for the economy. I think presidents have had very little to do with the economy since the Federal Reserve was instituted.
The Federal Reserve is the real economic problem, not unemployement, tax cuts for the rich, etc. How corrupt is a government that can literally print more money? I'd go to jail if I tried that.
"We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power." Alan Greenspan
 WTF, that pretty much sums up the federal reserve. Go ahead and print us some more benefits that will fix the situation. |
Samcol, you are right that people don't realize the political clout and power that the Fed has in this country, and they get overlooked. Unfortunately their bag of tricks is powerful, but limited. Interest rates and money supply are really it, and there are hundreds of factors that will play a role in the overall economy. Congress plays a huge roll in setting budgets and appropriating funds, but none of these tools will be effective if the President isn't responsible with his decision making.
They are all to blame for the nasty ride we have in front of us...