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allah,
That's fine. You just come off sounding more antagonistic sometimes.
When I think of the Fed I really think of it as an extension of the Wall St. banks. The only difference is they are appointed political positions which leave them beholding to the investor elite. Look folks.. there is truly a class polarization going on it has been for some time now. The wealthiest power brokers don't want to lose their foothold and influence. And will manipulate the system at any cost.
The only way to do that is keep the masses heavily in debt and ignorant of the back room dealing in Washington. God, just look at the current arrogance of the administration the lies and abuse of power at the very top. Don't fool yourself thinking for one moment that the government cares if you have a decent standard of living. The power brokers of the world have written the play book. It's all about the big boys and corporate big wigs on Wall Street and to a lesser extent their puppets in Washington. After all they expect something for their dirty lobby money. The sad part is that we the common man gets screwed every time.
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Is the Fed really responsible for the housing mess? They definitely contributed through their interest rate cuts, but buyers and realtors must also have some responsibility.
And is the Fed as wicked as the non-mainstream press believes? There are dozens of sites accusing the Fed of keeping the rest of us down through inflation and various shady deals, but I've never heard a really convincing explanation. As I understand it, a little inflation is good because it encourages people to invest or spend rather than simply sit on their money.
Patrick
#housing