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The uni party thinks this will help to reduce deficits and consequently decrease debt service payments and the debt to GDP ratio.
To the economist embezzlement is the most interesting of crimes. Alone among the various forms of larceny it has a time parameter. Weeks, months, or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.) At any given time there exists an inventory of undiscovered embezzlement in—or more precisely not in—the country's businesses and banks. This inventory—it should perhaps be called the bezzle—amounts at any moment to many millions of dollars. ...
People think they're going to get paid X, but they're only going the get X/2, either through outright default, or the sneakier default of inflation. ...
No one in Congress objected to the Fed’s “new inflation strategy” of seeking above-2% inflation for an extended period of time. This was a financial war crime. ...
“One of the most profound comments that I’ve heard over the past couple of years was with a labor leader who represents low-income service workers…She said to me, inflation is worse than a recession. That is contrary to conventional economic thinking." - Kashkari ...
Yet there is never any accountability at the Federal Reserve for their horrific policy errors which permanently harm hundreds of millions of Americans.
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It seems that Fed employees know how to get rich betraying the public.