Music Banter - View Single Post - It's been close to a year... Thoughts on Obama

duga · 04-21-2010, 03:38 PM

I was simply pointing to the unemployment rate as an indicator of how bad things actually got, not how they look now. As much as things are bad right now, I have no doubt it will get better at some point. I mentioned it simply because it is my opinion that our system should not have even allowed for it to get so bad. With 100 years behind the Federal Reserve, economists accurately predicting slumps and recessions, and several recoveries thus far we should have been able to prevent this. However, we can all sit back and beg the Reserve to do something different, but they don't have to listen at all.

If it seemed like I was blaming every single problem on the central bank, I wasn't. Sorry if it came off that way. However, since having a central bank is the most basic point of how we run our monetary endeavors, I can say that it has even an indirect hand in the aspects I don't agree with. I just flat out hate the idea of a central bank, and that feeling might be why it seems I am just blaming everything on that.

We've tried the little fixes, and surely they have worked in recovery thus far. However, if all it does is get things settled until the next big recession, I think things need to be fixed at the source.

04-21-2010, 03:38 PM	#90 (permalink)
duga MB quadrant's JM Vincent Join Date: Dec 2009 Location: Washington, DC Posts: 3,762	I was simply pointing to the unemployment rate as an indicator of how bad things actually got, not how they look now. As much as things are bad right now, I have no doubt it will get better at some point. I mentioned it simply because it is my opinion that our system should not have even allowed for it to get so bad. With 100 years behind the Federal Reserve, economists accurately predicting slumps and recessions, and several recoveries thus far we should have been able to prevent this. However, we can all sit back and beg the Reserve to do something different, but they don't have to listen at all. If it seemed like I was blaming every single problem on the central bank, I wasn't. Sorry if it came off that way. However, since having a central bank is the most basic point of how we run our monetary endeavors, I can say that it has even an indirect hand in the aspects I don't agree with. I just flat out hate the idea of a central bank, and that feeling might be why it seems I am just blaming everything on that. We've tried the little fixes, and surely they have worked in recovery thus far. However, if all it does is get things settled until the next big recession, I think things need to be fixed at the source. __________________ Confusion will be my epitaph...