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The dual mandate is a joke, and you know it

Posted on: December 27, 2016 at 10:24:51 CT

ummmm MU

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(a) The first part is not to control inflation, but is for "price stability", except that the Fed seeks a 2% inflation target, which is the opposite of seeking price stability.

(b) Price stability is an absurd goal, because as you know prices are constantly changing to reflect the supply and demand of a certain good or service.

(c) Price stability and full employment are contradictory ideas. Sometime, in order to better ensure full employment, the price of labor must fall in order to clear the market. You know this, as you talk about this concept regarding minimum wage all the time. I guess you look the other way here?

(d) Full employment is a misguided goal. Full production should always be the goal, and full production does not necessitate central price fixing of interest rates.

(e) Ensuring liquidity in the market is also a misguided goal, especially when the liquidity is created artificially and the new money exceeds the productive stock of goods and services. The Fed (or the government) cannot increase the economy's productive capacities by legislative fiat. Production is a long process, it takes time and real capital.

I think you know this stuff, too, which is the weird part of your stances here.

Edited by ummmm at 10:37:15 on 12/27/16

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MESSAGE THREAD

Hypothetical: Suppose that like obama, trump only has two - hokie VT - 12/27 09:04:49

RE: Hypothetical: Suppose that like obama, trump only has two - meatiger MU - 12/27 10:12:04

do you want the US to enforce its immigration policies - 90Tiger MU - 12/27 10:27:36

RE: do you want the US to enforce its immigration policies - meatiger MU - 12/27 10:39:48

Why will building a wall (designed to enforce immigration - 90Tiger MU - 12/27 10:41:29

RE: Why will building a wall (designed to enforce immigration - meatiger MU - 12/27 11:13:53

RE: Hypothetical: Suppose that like obama, trump only has two - sarasotatiger MU - 12/27 09:49:16

And more illegals crossing than ever before. nm - hokie VT - 12/27 09:51:11

Trim federal gov't. Counter public unions. Set up - GA Tiger MU - 12/27 09:38:43

RE: Trim federal gov't. Counter public unions. Set up - sarasotatiger MU - 12/27 10:00:15

The wall debate in Congress will be interesting. - Mo Texan MU - 12/27 09:30:02

A wall is not necessary. Cut off all - Ferg STL - 12/27 09:38:36

Can't do that, politically. You're going to deny brown - hokie VT - 12/27 09:50:34

The majority of illegals are not swimming the river - Mo Texan MU - 12/27 09:58:06

^^^ This. Most important - repeal 14th amendment.(nm) - GA Tiger MU - 12/27 09:39:16

All or parts? - Mo Texan MU - 12/27 09:50:50

he can undo a lot of Barry's damage through rescinding his - Ragnar Danneskjold MU

- 12/27 09:15:29

Cut taxes, cut regulations, cut spending - Ferg STL - 12/27 09:12:41

RE: Cut taxes, cut regulations, cut spending - sarasotatiger MU - 12/27 10:17:56

yes - Ferg STL - 12/27 10:29:43

Yep, end the Fed. (nm) - ummmm MU - 12/27 09:29:06

that would not achieve any of those things - Ferg STL - 12/27 09:35:40

Are you in favor of the Fed? (nm) - pickle MU

- 12/27 10:11:56

I'm not really pro-fed or anti-fed - Ferg STL - 12/27 10:47:13

Inflation is itself a stealth tax on people's purchasing - ummmm MU - 12/27 09:40:36

#1 There is little to no inflation. I know you - Ferg STL - 12/27 09:50:57

Issue #1: There is unprecedented inflation, actually - ummmm MU - 12/27 10:07:09

Yup. If Ferg thinks equity markets, rent, college, health - 90Tiger MU - 12/27 10:25:26

you're being lied to by hidden, uncounted goods not - 90Tiger MU - 12/27 09:58:30

RE: you're being lied to by hidden, uncounted goods not - meatiger MU - 12/27 10:15:24

RE: you're being lied to by hidden, uncounted goods not - 90Tiger MU - 12/27 10:28:22

RE: you're being lied to by hidden, uncounted goods not - meatiger MU - 12/27 10:41:53

that's deflection. that is not answering the question - Ferg STL - 12/27 10:35:56

nothing has changed, and it should. if you think inflation d - 90Tiger MU - 12/27 11:45:07

nothing has changed. The methodology is the same - Ferg STL - 12/27 10:20:19

You are frankly wrong about no changes in methodology - ummmm MU - 12/27 10:55:34

that's not methodology, those are components and - Ferg STL - 12/27 11:12:16

That is absolutely a change in their methodology - ummmm MU - 12/27 11:28:44

RE: nothing has changed. The methodology is the same - meatiger MU - 12/27 10:43:11

Except that Ferg is factually wrong. (nm) - ummmm MU - 12/27 10:55:57

no, I'm not. - Ferg STL - 12/27 11:16:36

No. I'm not. I understand how the data is collected - Ferg STL - 12/27 10:02:19

The CPI is a deceptively calculated figure. - ummmm MU - 12/27 10:08:51

The fed has a dual mandate - - Ferg STL - 12/27 10:16:26

The dual mandate is a joke, and you know it - ummmm MU - 12/27 10:24:51

LMFAO - "building the wall . . ." ha ha ha - raskolnikov MU - 12/27 09:11:48

We get it. As a blind follower and fan of Obama - 4TigersinMichigan MU - 12/27 09:13:33

Doofus poster said it friend(nm) - raskolnikov MU - 12/27 09:48:38

don't be so hard on yourself, you're a terrific doofus (nm) - 90Tiger MU - 12/27 10:06:52

Focus should be on immigration, health care and economic - 4TigersinMichigan MU - 12/27 09:10:51

He'll help his business. - Toger STL - 12/27 09:28:11

Why on earth do you believe he'll bring the nation together? - Danny Whizzbang USA - 12/27 09:09:44

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