sethnintendo said:
Kasz216 said:
That's the funny thing.
All the fed's QE projects have generally helped one group of people.
BIg corporations and the Stock Market.
The stock market is at all time highs, corporations are making all time high profits...
Yet there is no improvent for anyone else under Obama hasn't gotten much better because the demand just isn't there, so the companies aren't reinvesting that money.
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The Fed controls itself which is why it should be abolished. Obama can't tell the Fed to stop printing money or change their strategy. The only thing he can do is appoint the chairman and vice-chairman.
"As stipulated by the Banking Act of 1935, the President appoints the seven members of the Board of Governors of the Federal Reserve System; they must then be confirmed by the Senate and serve for 14 years.[2] Once appointed, Governors may not be removed from office for their policy opinions. The chairman and vice-chairman are chosen by the President from among the sitting Governors for four-year terms; these appointments are also subject to Senate confirmation" - wiki
Basically, he shouldn't have appointed Ben Bernanke considering the only thing that bastard knows what to do is print more money. If anything point the finger at the Fed and Congress (since they make the budget and they approved Ben Bernanke) then the President. Everyone always thinks the President has a shit load of influence (aka gas prices, etc) yet the President really doesn't do shit for the most part. The Presidential powers have been expanded greatly in the past few decades but they really can't do too much without votes from Congress.
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Except Bernake has moved in concordance with everything the President has done.
Tarp and QE were the same, and Obama wanted both done...
Tarp more or less made QE ony benefit the rich, because TARP and government stimulus in general only causes great uncertantity as people way for the government spicket to turn off... because it has to at some point.
Stimulus policies basically require companies to be stupid, for them to be successful.
