Here it Comes Again...But Worse This Time

[greg334]

But it is not. The congress does not oversee much of anything these days other than their own paycheck.

NOW wait a minute Layout, according to you and others, they oversee too much and have been meddling with a lot of things they shouldn't be - which is it?

 

[layoutshooter]

NOW wait a minute Layout, according to you and others, they oversee too much and have been meddling with a lot of things they shouldn't be - which is it?

Both. They meddle where they should not be, spend far too much time overseeing my life and NOT overseeing things that they are required too. Geez, everybody knows that!! Your just being contrary! LOL!!

 

[Camper]

The fed does serve a purpose when the fed is working as it intended to work and with congressional oversight.

The problem is the fed isnt/hasn't been working as intended. By virtue of keeping interest rates artificially low for as long as they have, they've managed to create one asset bubble after another. First, it was the realestate bubble, now it's the commodities bubble. Grant it, both these bubbles are also due to rampant speculation.



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[greg334]

Both. They meddle where they should not be, spend far too much time overseeing my life and NOT overseeing things that they are required too. Geez, everybody knows that!! Your just being contrary! LOL!!

Nope you made the comment that they don't oversee much of anything so nothing to the contrary, just needed to be asked.

The problem is the fed isnt/hasn't been working as intended. By virtue of keeping interest rates artificially low for as long as they have, they've managed to create one asset bubble after another. First, it was the realestate bubble, now it's the commodities bubble. Grant it, both these bubbles are also due to rampant speculation.

True enough but this has been the mantra for past two decades the interest rate spurs growth ... which is far from the truth. I think we will have another stock bubble, and we are headed for another commodity crisis as we had in 1923. With that I also feel that commercial paper which has been patched up will fall apart unless we seriously make changes and repeal some of the laws passed in the past 5 years.

In order for the fed to actually work as intended, it needs to have the autonomy removed almost completely and having congress' involvement on a quarterly basis. Raise the interest rates to at least 3.5%.

 

[Camper]

In order for the fed to actually work as intended, it needs to have the autonomy removed almost completely and having congress' involvement on a quarterly basis. Raise the interest rates to at least 3.5%.

Unfortunately, congress lacks the political will to push for more transparency and greater oversite because the Fed is heavily influenced by the executive brach via the chairmanship.

As you may recall, legislation put forth by Alan Grayson & Ron Paul that would have called for much greater oversight and congressional audits was conveniently allowed to die on the vine amid extensive lobying efforts against it by none other than Ben Bernankee and the Administration that re-appointed him.



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[skyraider]

Both. They meddle where they should not be, spend far too much time overseeing my life and NOT overseeing things that they are required too. Geez, everybody knows that!! Your just being contrary! LOL!!

Maybe our Congressman and Senators should do some underwear photo shots with their beerbellies and middrifts hanging out,,lol. At least Wiener wouldnt be alone and he has already broken the ice, so the rest of them can show off too. What a photo op that would be.