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Originally Posted by ASU2003
Certain people will benefit from higher interest rates, higher taxes, less money, stronger dollar, lower stock prices, and deflation. It might not be you, but there are winners.
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This is true, but I think most would prefer an end to the recession and certainly for economic improvement rather than deterioration.
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I like higher interest rates, a strong dollar, and deflation (lower commodity prices). I have quite a bit of money in a savings account, but I am also locked in at a low rate on my mortgage.
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My problem tends to be with things like bailouts for banks and then they raise rates/fees, lower credit availability, record record profits, continue record foreclosure rates, etc. I did not support the bailouts, but since the banks got them, should they be obligated to do something in return? We, the taxpayer and consumer, got the raw end of the deal
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If I had to buy a house, I would want really low rates, and easy credit available with a large monetary supply.
If I was getting ready to retire, it might be different. I wouldn't want the stock market to crash before I was able to get out. I would be worried about inflation or the dollar getting really weak. I would also be worried about taxes.
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But we are talking about savings rates of 2%, or nothing after taxes and inflation, then on the other side people are paying up to 20% or more on credit card debt. Then banks can get capital or be bailed-out at virtually no real cost????
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If I was a high school kid, I want my $7/hour to actually buy something.
If I was a 40-something business owner, I would want lower rates. Easy loans, and low taxes.
If I were a foreigner, I would want a weak dollar to be able to buy more and get more on vacation here.
If I was paying back the national debt, I would want our money to be worth less than it is now with an increasing monetary supply.
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You support my view the economy is too complicated to micro-manage and for everyone the government tries to help they hurt someone.
---------- Post added at 09:48 PM ---------- Previous post was at 09:38 PM ----------
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You do know that the Fed and the president are "not in sync" pretty much because the fed is set up to be independent of the presidency, right?
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Why be condescending?
Why shouldn't we expect or demand the Fed and the administration get on the same page?
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Sure, I think that the fed should pump a little more money into the economy, but that is me as liberal interventionist saying this. The fact that you also believe this leads me to think that anything you can use against Obama you will, regardless of whether it fits with your own ideas.
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Looking at the causes of the Great Depression, poorly timed restriction of the money supply hurt. We do not want a repeat. The Fed's words indicate that they understand that, but some of the indicators I see, indicate otherwise.
This issue is bigger than Obama. We all know how I feel about him. I don't know how you want me to respond to him when I think he is wrong, misguided, being political, etc., but what we need is to get him and everyone else focused on the real issues. I think his campaigning at this time is an insult, given what is going on. He talks about global warming but ignores how the financial industry got bailed-out but turns around and hurts every American in this country needing or using credit!
I am very frustrated.