Well, I'm more familiar with things here in Florida. 50% of households here are underwater on their mortgage, for example. And the housing market has not stabilized.... You're right we have better gadgets now but most individuals debt levels are also much higher than they used to be. College tuition costs more, wages (adjusted for inflation) are at best flat and most people cannot support a family on one person's income meaning both parents typically work.
You keep making claims that you have no sources for. OK, let me get this right . . . you say that the FED, the Consumer Price Index, and the independent open-formula inflation sites like: Consumer Prices Edge Up in November 2010, Annual US Inflation Rate at 1.1% - US Inflation Calculator Current Inflation These are all wrong to say that inflation is 1.1% annually and 1.6% for this year so far? But a source you found called ShadowStats on a site that is trying to sell you gold is correct? Well, I looked at the graph and saw the preposterous statement "This alternative inflation measure shows a roughly .75% inflation monthly (12 x .75% = 9% annually). If the trend continues, Americans could be looking at near 10% annual price spikes." Whoever wrote this doesn't know how to read a graph. The trend on this graph is for 0.75% over 2.75 years! The last upward peak on the chart also moved 0.75% in a month, but a single month is not a trend. Then this doofus claims that the monthly trend shows this to be almost 10% annually! The trend says nothing of the kind. Dr. Shane just aced statistics, let him explain how bogus an analysis this is. See what I mean about statistics letting you perceive bullchit numbers, Shane. I also checked out the MIT site linked as an authoritative source and found that they did NOT make this ridiculous statement at all nor do they predict 9% inflation anywhere that I found. I think we can dismiss ShadowStats analysis with reasonable confidence.
That is their job, its the whole idea of the FED. But you said it was done to "collapse" the economy so that "insiders" could get rich. What is your evidence for this conspiratorial statement? You need to learn what a fact is, Chief. It's something provable. You can't prove that the old boys are relevant to modern finance, you can only suggest it. Nonsense. No part of the Constitution forbids it. Make your case and be specific.
The FED has no ground on being accurate on anything. Just because they are there doesn't mean they are right.
1) Well, if you think that is their job than it is exactly that that I object to.....but that is not their job. Their job is price stability and full employment. And they have done a horrendous job, especially on price stability. My evidence is the fact that the dollar is worth 90% less than in 1913. 2) It is a fact Jefferson was congnizant of central banking and the power of creating money. You may disagree with his conclusions but to suggest his powers of perception were somehow insufficient or that the concept and workings or banking were beyond his ability to analyze......is silly and you have no evidence to support that statement while I have a direct quote from Jefferson on the topic. 3) You know that the US government doesn't have the power to make me purchase anything. We live (or should, constitutionally) in a free market. I am not required to purchas a goddamn thing.....it's called freedom, the thing the Constitution is supposed to guarantee. And no, I'm not going to jump through hoops to provide the evidence of something so damn obvious. Ha..ha...anyway, I am traveling for quite some time....so will not reply....will have to hope someone else grabs the baton......thanks for posting.....opcorn:
What would happen without the fed? The USA has had the fed for a 100 years. If we all of a sudden decided to scrap the fed what would happen?
