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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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  • Originally posted by ticapnews View Post
    I understand the mechanics but do you understand the vast majority of people who just lost their jobs could give a **** about semantics right now? The banks just got a ****load of cash but their mortgage is still due. Their credit cards are still racking up interest. I have a nest egg in a CD at the bank. Now that it is flush with cash think I can get a deal on the withdrawal fees and penalties? Think I can get a lower interest rate on my loan? **** no. That would hurt the bottom line. And of course, no bank in the area is doing that loan deal I described. Can't do that. That might help people.
    You're ****ed that the part of the federal government that's working as intended is the one that works for the banks, primarily because it's setup to be independent of presidential or political influence. Fine, I get it's frustrating. But direct your ire at the part that's broken, not the part that's working.
    Last edited by unofan; 03-21-2020, 12:00 PM.

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    • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

      Originally posted by unofan View Post
      Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.
      Oh you and your facts
      "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
      -aparch

      "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
      -INCH

      Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
      -ScoobyDoo 12/17/2007

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      • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

        Originally posted by unofan View Post
        Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.

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        • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

          Originally posted by unofan View Post
          Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.
          To be fair the Fed is basically the big banks' fluffer, but yes I take your point.
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          • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

            I’m not up to snuff at all on how the Fed works, but doesn’t the Fed always make money one way or another when it’s loaning money to banks?

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            • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

              Originally posted by psych View Post
              I’m not up to snuff at all on how the Fed works, but doesn’t the Fed always make money one way or another when it’s loaning money to banks?
              I think someone times also pay interest to reserves banks park there, which I guess would count as losing money. It comes down to if they're trying to expand or contract the money supply.

              Cornell '04, Stanford '06


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              • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                Originally posted by psych View Post
                I’m not up to snuff at all on how the Fed works, but doesn’t the Fed always make money one way or another when it’s loaning money to banks?
                The Fed does not "make" or "lose" money, it's just an organ of monetary policy. It buys or sells bonds to inject money into (or withdraw it out of) the private economy. And most famously the Fed can also change the prime rate which is supposed to accelerate or brake the velocity of money as it flows through the economy by making lending more or less attractive. As the economy speeds up inflation can rise but growth increases and unemployment drops. It's a balancing act. (Lately all that really seems to happen is large entities horde and the plebeians are f-cked.)

                However the Fed functions in practice as a guarantor of our too big to fail financial firms, effectively socializing risk while privatizing profit. It's the government end of the vampire squid. We have been told we have to put up with this because otherwise we'll have other Great Depressions. Everybody who can stand to actually study something this boring and dehumanizing is eventually co-opted into the system so we never actually hear anybody without skin in the game opine on whether than is true or just Enron writ a trillion times larger to feed the rich on the blood of the middle class (either way the poors are f-cked).
                Last edited by Kepler; 03-21-2020, 11:41 PM.
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                • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                  The Fed makes money. As of 2000 it had never lost money on its operations. I can’t speak for the past 20 years. Ignore the Cornell drama major’s response.

                  Banks pay the Fed for its depository services, which are mandated as one of its FDIC functions, and can help control the money supply but to change it would be a very aggressive tool.
                  "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

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                  • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                    Originally posted by St. Clown View Post
                    The Fed makes money. As of 2000 it had never lost money on its operations. I can’t speak for the past 20 years. Ignore the Cornell drama major’s response.

                    Banks pay the Fed for its depository services, which are mandated as one of its FDIC functions, and can help control the money supply but to change it would be a very aggressive tool.
                    Dont you know...only the money that belongs to he and his rich bougie limousine liberal "We Love The Others As Long As They Stay Out of Our Neighborhood" crowd matters.
                    "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                    -aparch

                    "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                    -INCH

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                    -ScoobyDoo 12/17/2007

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                    • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                      Originally posted by Handyman View Post
                      Dont you know...only the money that belongs to he and his rich bougie limousine liberal "We Love The Others As Long As They Stay Out of Our Neighborhood" crowd matters.
                      But I know enough economics to live rent free in your head.
                      Cornell University
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                      • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                        Originally posted by Kepler View Post
                        But I know enough economics to live rent free in your head.
                        No you dont. You know enough about economics to not sound as ridiculous as Priceless does. We dont allow Hipsters and Faux Socialists to live in my head...your kind arent welcome

                        Plus admit it, you thought it was funny when Clown called you the "Cornell Drama Major"
                        "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                        -aparch

                        "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                        -INCH

                        Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                        -ScoobyDoo 12/17/2007

                        Comment


                        • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                          Hey, I read that the Fed just increased the money supply but I just checked my bank account and the same amount of money is in there. W T F?

                          Not sure what nationalizing the financial industry has to do with anything going on right now. However both the financial industry and car industry rescue ought to be a blueprint for how the gubmint handles the airline industry and whoever else has their hand out now.

                          1) Its a loan paid back with interest. I'd charge a higher interest rate to discourage more bailouts.
                          2) Or an equity stake in company that has to be bought out.
                          3) Restrictions on dividends, buybacks, and exec comp for all companies receiving $$$, subject to federal approval just like what was done 10 years ago
                          4) Requirement for all affected companies to build up their cash reserves to better deal with an unexpected slowdown before the feds release them from strict oversight.

                          Originally posted by Kepler View Post
                          But I know enough economics to live rent free in your head.
                          Kep's knowledge of economics begins and ends with these two sentences: "Lovee, where's the checkbook? I signed us up for more socialist causes and need your hard earned money to pay for it!"
                          Legally drunk???? If its "legal", what's the ------- problem?!? - George Carlin

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                          • Originally posted by Handyman View Post
                            No you dont. You know enough about economics to not sound as ridiculous as Priceless does. We dont allow Hipsters and Faux Socialists to live in my head...your kind arent welcome

                            Plus admit it, you thought it was funny when Clown called you the "Cornell Drama Major"
                            Drama, philosophy. Ithaca Double Deuce
                            a legend and an out of work bum look a lot alike, daddy.

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                            • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                              "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                              -aparch

                              "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                              -INCH

                              Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                              -ScoobyDoo 12/17/2007

                              Comment


                              • Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

                                Because it's more important for shareholders to get their dividends.

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