The Fed Is The Problem, Not The Solution: The Complete Walk-Through | Forex Factory

  • The Fed Is The Problem, Not The Solution: The Complete Walk-Through

    From zerohedge.com

    It may be ironic that one of the best and most comprehensive critiques of central bank policy comes from none other than Raghuram Rajan: a visiting professor for the World Bank, Federal Reserve Board, and Swedish Parliamentary Commission, he is the former chief economist of the International Monetary Fund, and currently the chief economic adviser to the government of India. Then again it should not be ironic: Rajan, as the ultimate insider in the dark corridors of the centrally planned New Normal, really gets it, unlike the vast majority of his ivory tower economist peers. Already a recognized authority on these ... (full story)

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nAVIN2007
Jul 17, 2013 2:25am
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Quoting michaelpelly
Well, no need for conspiracy theory to know that - it is obvious that the central bank that prints more and more money without any "hard"-coverage (despite future debt) is the problem! :-)

We all know that, American people know that, but it is mysterious to me how they still live with it. The average buying ability of the middle class in USA had fallen with almost 50% for 20 yrs. In next 20 yrs they will have to cope with the Europe standard of live - small expensive apartments, small cheap cars and intensively using public transportation....
GOOD VIEW
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nAVIN2007
Jul 17, 2013 3:21am
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Quoting michaelpelly
Well it took me couple long working trips in USA during last decade to realize all that. I used to got many American friends. Every time I get back to my country they ask me "why you don't come here", I ask the inevitable the question "Why?!" :-).
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michaelpelly
Jul 17, 2013 1:43am
Permalink
Well, no need for conspiracy theory to know that - it is obvious that the central bank that prints more and more money without any "hard"-coverage (despite future debt) is the problem! :-)

We all know that, American people know that, but it is mysterious to me how they still live with it. The average buying ability of the middle class in USA had fallen with almost 50% for 20 yrs. In next 20 yrs they will have to cope with the Europe standard of live - small expensive apartments, small cheap cars and intensively using public transportation. People don't realize that - it will come on small "portions" always with rationalization "This is the American way! This is cool! Small cars are good cars, eat less - be more healthy", etc...etc...:-)
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michaelpelly
Jul 17, 2013 2:58am
Permalink
Well it took me couple long working trips in USA during last decade to realize all that. I used to got many American friends. Every time I get back to my country they ask me "why you don't come here", I ask the inevitable the question "Why?!" :-).
Reply
venzen
Jul 17, 2013 6:31am
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Did you see this earlier today?

http://www.zerohedge.com/news/2013-07-16/if-youre-greek-move-thailand
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Spreadbetter
Jul 17, 2013 3:42am
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Americans supposed higher standard of living vis a vis Eoropeans is a myth; the population sizes of Europe and the USA are similar as are those living below the poverty line, those homeless etc. One of the biggest challenges the USA faces, as we've past the energy tipping point, is the lack of transport infrastructure; Americans love to drive and or fly city to city not take the bus or train. Average commute to work is 30 mins with 2.5 ml taking over 50 mins iirc.

Quoting michaelpelly
Well, no need for conspiracy theory to know that - it is obvious that the central bank that prints more and more money without any "hard"-coverage (despite future debt) is the problem! :-)

We all know that, American people know that, but it is mysterious to me how they still live with it. The average buying ability of the middle class in USA had fallen with almost 50% for 20 yrs. In next 20 yrs they will have to cope with the Europe standard of live - small expensive apartments, small cheap cars and intensively using public transportation....
Reply

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