Fed. Makes full Half Point int. rate reduction.

[Mij]

Just shows that the Fed is just as corrupt as every other government agency.

Ummm, the Federal Reserve is not in any way shape or form a govt. agency. Corrupt? Undoubtedly. It is privately owned and has no reserves.


Edit: Never claimed to be the brightest bulb in the box, but I do know this rate cut has PO’d DJT. Can’t even imagine what he’s gonna think when they drop another half point in Dec. as they are predicting. A full point drop is the benchmark that causes mortgage refinancing.

Right now I care about more money in my pocket, after 4 years of the BS I’ve/We’ve been through I don’t see how that can be considered a bad thing. JMO of course.

 

[rbhargan]

Ummm, the Federal Reserve is not in any way shape or form a govt. agency. Corrupt? Undoubtedly. It is privately owned and has no reserves.


Edit: Never claimed to be the brightest bulb in the box, but I do know this rate cut has PO’d DJT. Can’t even imagine what he’s gonna think when they drop another half point in Dec. as they are predicting. A full point drop is the benchmark that causes mortgage refinancing.

Right now I care about more money in my pocket, after 4 years of the BS I’ve/We’ve been through I don’t see how that can be considered a bad thing. JMO of course.

"Privately owned?" I don't know of any other privately owned firms that can create money out of thin air.

The bottom line is that the Fed is responding to pressure from the WH to try to keep the cork in the bottle until after the election.

If Trump is able to take back the WH, the economic data is going to suddenly go South. Not that anything will have changed, but there will no longer be a reason to fudge the numbers to make the economy look better than it is. In fact, they will probably begin manipulating the numbers to make the economy look *worse* than it is.

If Harris "wins" the WH, we will start hearing that unemployment has dropped from 4% to 6%; inflation has decreased from 2.5% to 5%; gas prices have dropped from $4 a gallon to $7; and the chocolate ration has been increased from 5 grams to 3 grams per week.

 

[Flash-hider]

If Trump is able to take back the WH, the economic data is going to suddenly go South. Not that anything will have changed, but there will no longer be a reason to fudge the numbers to make the economy look better than it is. In fact, they will probably begin manipulating the numbers to make the economy look *worse* than it is.

I think you are on to something there.

 

[Mgderf]

"Privately owned?" I don't know of any other privately owned firms that can create money out of thin air.

The bottom line is that the Fed is responding to pressure from the WH to try to keep the cork in the bottle until after the election.

If Trump is able to take back the WH, the economic data is going to suddenly go South. Not that anything will have changed, but there will no longer be a reason to fudge the numbers to make the economy look better than it is. In fact, they will probably begin manipulating the numbers to make the economy look *worse* than it is.

If Harris "wins" the WH, we will start hearing that unemployment has dropped from 4% to 6%; inflation has decreased from 2.5% to 5%; gas prices have dropped from $4 a gallon to $7; and the chocolate ration has been increased from 5 grams to 3 grams per week.

You know that 5 out of every 4 adults have problems with fractions, right?

 

[Mij]

"Privately owned?" I don't know of any other privately owned firms that can create money out of thin air.

The bottom line is that the Fed is responding to pressure from the WH to try to keep the cork in the bottle until after the election.

If Trump is able to take back the WH, the economic data is going to suddenly go South. Not that anything will have changed, but there will no longer be a reason to fudge the numbers to make the economy look better than it is. In fact, they will probably begin manipulating the numbers to make the economy look *worse* than it is.

If Harris "wins" the WH, we will start hearing that unemployment has dropped from 4% to 6%; inflation has decreased from 2.5% to 5%; gas prices have dropped from $4 a gallon to $7; and the chocolate ration has been increased from 5 grams to 3 grams per week.

So are you saying the Fed. is not privately owned? That is the statement you made and I quoted. One sentence statement. My only point.


Didn’t say squat about the rest of that stuff.

 

[Ark]

I saw an interview with the The Federal Economist that charted the double digit inflation under jimmy carter Analyzed the inflation under biden. He used all the old metrics and found the inflation under biden is actually far higher than under Carter. If you keep changing the measuring stick, you can report any number you like.

I have my utility bills, my insurance bills, my property tax bills, my grocery bills, and fuel bills. I guarantee the Biden inflation rates have been solidly in the double and mid double digits almost since he was sworn in. I don't need a multi million dollar staff of lying Democrat supporting bureaucrats to prove that.

Yeah, the cooking of the official stats has been pretty extensively documented by ZH and others, and frankly was talked about well before Trump, too. The CPI basket of goods has been overtly fraudulent for a while. No duh inflation is low when you exclude everything that inflates.

Likewise BLS jobs numbers. The official unemployment number has been criticized for ages for not counting labor force participation, and the "adjustment" practices are so completely out of control that millions of jobs get "revised" away after the fact.

There is no money in being a government organization that produces statistics showing the leaders do a bad job.

 

[NyleRN]

Edit: Never claimed to be the brightest bulb in the box, but I do know this rate cut has PO’d DJT. Can’t even imagine what he’s gonna think when they drop another half point in Dec. as they are predicting. A full point drop is the benchmark that causes mortgage refinancing.

Right now I care about more money in my pocket, after 4 years of the BS I’ve/We’ve been through I don’t see how that can be considered a bad thing. JMO of course

I want more money in my pocket too. But cutting rates this soon will not do that. In fact, it'll have the reverse effect. You're gonna have less money in your pocket. There's still too much money floating around keeping demand up for things. Yes, it has slowed for sure and it shows as a lot of layoffs and furloughs are happening. But cutting rates now will cause a quick upward pressure on demand for products and cause prices to elevate, thus making people more broke

 

[Leo]

The Fed was the biggest mistake of 1913.

Federal Reserve - Wikipedia

en.wikipedia.org

Woodrow Wilson, who signed the private centralized system it into law with a lot of pressure from Congress had regrets almost immediately. He saw how many powerful people lied to convince him it was the only way.

Maybe it is the lesser of two evils, can you imagine Congress handling banking for the whole country? They don't even know what a budget means.

 

[bgcatty]

Can you say recession?
The Fed balance sheet and $34 Trillion debt be damned!
Can you say the Fed is just another corrupt institution doing its bidding for the benefit of the Democraps and Kumala?
As a country we are $crewed by the Fed’s policies for the benefit of the Democraps!

 

[Mgderf]

Maybe it is the lesser of two evils, can you imagine Congress handling banking for the whole country? They don't even know what a budget means.

They can't even identify a woman!

 

[bwframe]

Very smart people are very concerned...

 

[rbhargan]

So are you saying the Fed. is not privately owned? That is the statement you made and I quoted. One sentence statement. My only point.


Didn’t say squat about the rest of that stuff.

OK. Who owns it? Can they sell it? What is its market value?

Next question, who gave them the authority to create money?

 

[Mij]

OK. Who owns it? Can they sell it? What is its market value?

Next question, who gave them the authority to create money?

OK, it’s a federal agency. You’re right, I’m wrong. You win.

How’s that, feel better?

Argue away.

 

[Leo]

OK. Who owns it? Can they sell it? What is its market value?

Next question, who gave them the authority to create money?

All the answers you desire and more are found on post #28, your welcome

 

[manifest destiny]

The (quasi).gov shouldn't be deciding winners and losers. A magical agency that doesn't report to the public, without boundaries, is bad even when 'their' decision is agreeable with my politics and finances. An agency, unelected, unaccountable, that can directly affects one's mortgage payment.... how can that be agreeable? This isn't to help a particular candidate. This is to stop warlord-level fights for $15 loafs of bread. Prices aren't inflated. They're insane. Buckle up.

 

[rbhargan]

OK, it’s a federal agency. You’re right, I’m wrong. You win.

How’s that, feel better?

Argue away.

I never said it was a Federal agency. Can you name any other entity that has the powers of the Fed without being a defacto Federal entity?

Bottom line is that the Fed is NOT autonomous and is more concerned with pursuing a political agenda than the economic well being of the country.

 

[rbhargan]

All the answers you desire and more are found on post #28, your welcome

Actually, the questions were largely rhetorical.

I actually believe that a central bank is important to having a stable economy, but a central bank that places politics above the economy is of dubious use. The Fed has become politically corrupt.

 

[Magyars]

And this is why commodities, such as gold and silver are up as much as 2.5% this morning.

 

[tomcat13]

Interest rates coming down.
Gas Prices coming down.
Gee, you'd think there was an Election Close!

 

[Leo]

Just a point to give perspective.

Reducing a $200,000 mortgage from 6.7% to 6.2 % changes the base 30 year mortgage from about $1310 down to $1224 before any tax or insurance escrow.

The cost of a refi would not break even for a long time. A person should probably wait until after January.

Not exactly enough to get a 27 year old college drop out to move from grandma's basement. The news is reporting it like free ice cream for everybody. The last round of property tax increases ate up about 1/2 of that already.