NP - St. Ralph Continues To Advance the Most Important Cause in American Politics, His Ego

Tue Nov 3 15:43:21 CST 2015

I meant to say: Print out free money and distribute it *liberally*, and the
consumer demand will instantly reappear.

On Tue, Nov 3, 2015 at 3:18 PM, David Morris <fqmorris at gmail.com> wrote:

> You haven't provided any rationale for your claim that raising interest
> rates will increase demand.
>
> You are also wrong that "People who agreed with that textbook view have
> been wrong about just about everything economic and financial since 2009."
> The textbook view was never given more than a weak try because of
> Republican opposition. But the US economy has improved the most in the
> World since the Recession because we at least shrugged off Austerity and
> tried a weak Stimulus for a while (but for only a very short while).  Print
> out free money and distribute it literally, and the consumer demand will
> instantly reappear.
>
> David Morris
>
> On Tue, Nov 3, 2015 at 2:50 PM, ish mailian <ishmailian at gmail.com> wrote:
>
>> David, you would be right if we could open an economic textbook and make
>> sense of the great contraction and QE, the broken Phillips Curve and etc.,
>> but we can't. People who agreed with that texbookt view have been wrong
>> about just about everything economic and financial since 2009. Low and
>> negative rates and QE were supposed cause inflation, hyper-inflation even.
>> It was supposed to send gold flying and commodities up up and away and the
>> dollar down to the bottomless pit.
>>
>> In short, sir, with all do respect to you and your textbook view, you are
>> dead wrong, Hope you didn't lose your ass.
>>
>> The Fed can't deliver a robust economy.  A robust economy must be driven
>> by the consumer. But consumer, with the exception of the recent appetite
>> for new automobiles, is not consuming. Even after the great de-leveraging,
>> and zero rates, animal spirits are dead in the water. Raising interest
>> rates will get the consumer consuming, otherwise we will need to get used
>> to what Wall Street and the Gangsters have been peddling, the new normal or
>> secular stagnation, where the risks they are now prevented from taking are
>> foisted on us, as we have no other choice but to take on bubbled assets. QE
>> has gone on too long and has caused new kind of thrift paradox wherein
>> disinflation and deflation, compounded events such as the reshoring of jobs
>> to automation, the bust of the commodities super cycle, the collapse of
>> OPEC and oil...technological innovations....etc...keeps wages down with
>> productivity and keeps consumers waiting for inflation that is never and
>> never will be produced by low rates.
>>
>> Raising rates will help banks in some respects and hurt the banks in
>> others, same goes for the wealthy who live off interest income and stock
>> dividends. But it will help the workers most because it will get that
>> robust economy, 3-4% on track.
>>
>> On Tue, Nov 3, 2015 at 3:07 PM, David Morris <fqmorris at gmail.com> wrote:
>>
>>> Key point:  " As Jordan Weissmann at Slate points out, the entire
>>> argument doesn’t make a lot of sense, as “relatively few households
>>> actually survive on interest income.” Most ordinary people would benefit a
>>> lot more from a robust economy than a higher interest rate on their savings
>>> account, but Nader seems to assume a nation of people living on investments
>>> rather than on paychecks, which really undermines his
>>> spokesman-for-the-working-class schtick."
>>>
>>> Raising interest rates will only help the Banks and the rich.  What we
>>> really need is a massive increase of Federal spending to boost the economy,
>>> and/or a big boost in the minimum wage, to increase demand.  But, failing
>>> that, at least keep money cheap.  Increasing interest rates is insane when
>>> the economy is sluggish and inflation is zero.  A really simple point.  All
>>> the rest is shuck and jive.
>>>
>>> David Morris
>>>
>>> On Tue, Nov 3, 2015 at 12:38 PM, ish mailian <ishmailian at gmail.com>
>>> wrote:
>>>
>>>> I don't know much about RN's relationships with female academics or
>>>> their husbands but he may still claim to be supporting both a rate hike by
>>>> the Fed and working people, the poor, and the retired, most of whom are not
>>>> rich but nevertheless, live on investments, the great portion of which is
>>>> in fixed income securities.
>>>>
>>>> One need only give Nader the benefit of the broken Phillip's Curve.
>>>> There are a growing number of economists who now contend that the
>>>> continuance of the zero bound policy is hurting the economy and working
>>>> people because, while unemployment has been driven down to near NAIRU by
>>>> Fed policy, it will nothing to lift wages and will cost, not only those
>>>> retired to live on less, but those close to retirement to work longer
>>>> because investment in safe retirement assets is discouraged while bubbles
>>>> are made an popped, and, while those indebted must pay off loans with
>>>> non-inflated wages.
>>>>
>>>> The Fed has a triple mandate, though the press and the Fed and Congress
>>>> confuse things by calling it a duel mandate. The third part is rates. The
>>>> Fed is charged with keeping rates in a range that promotes growth. It's no
>>>> doing that now. It is fixated on the Phillips curve model and it's not
>>>> working now. JY did well to focus on the unemployed and the participation
>>>> rate and the quit rate etc..., in other words, employment and wages, and
>>>> ignore inflation. She should continue with that plan. The Fed can't fight
>>>> the world. At this point, RN is on to something....lift rates to help the
>>>> working people.
>>>>
>>>>
>>>>
>>>> On Tue, Nov 3, 2015 at 9:18 AM, David Morris <fqmorris at gmail.com>
>>>> wrote:
>>>>
>>>>> Ralph Nader, epic mansplainer, tells Janet Yellen to listen to her
>>>>> husband.
>>>>>
>>>>>
>>>>> http://www.salon.com/2015/11/02/ralph_nader_epic_mansplainer_tells_janet_yellen_to_listen_to_her_husband/
>>>>>
>>>>> Apparently, Ralph Nader is still talking, though in a way that
>>>>> certainly inspires a deep desire to go to Tumblr to find as many “shut up”
>>>>> gifs as one can find. Over the weekend, Nader published a nonsensical piece
>>>>> at the Huffington Post complaining that “humble savers” are getting screwed
>>>>> by the Federal Reserve’s unwillingness to raise the interest rate, which
>>>>> Nader seems to think is an elaborate plot to help the rich banks at the
>>>>> expense of working people.
>>>>>
>>>>> As Jordan Weissmann at Slate points out, the entire argument doesn’t
>>>>> make a lot of sense, as “relatively few households actually survive on
>>>>> interest income.” Most ordinary people would benefit a lot more from a
>>>>> robust economy than a higher interest rate on their savings account, but
>>>>> Nader seems to assume a nation of people living on investments rather than
>>>>> on paychecks, which really undermines his spokesman-for-the-working-class
>>>>> schtick.
>>>>>
>>>>
>>>>
>>>
>>
>
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