Bush appoints Bernake Chairmen of the Federal Reserve - Page 3

vulturesrow · #21 10-24-2005, 11:59 PM

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Do you even know how the fed works/normally controlls the interest rate?

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It wasn't a yes or no question, explain your statement...

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Huh? Seems like a yes or no question to me. In case you didnt understand my answer, here it is one more time: Yes, I know how the "fed works normally/controlls [sic] interest rates". Is that clearer?

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explain your statement...

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What statement? Have you been drinking tonight?

FishHooks · #22 10-25-2005, 12:20 AM

Your answer was "Well I have a vague idea being that I got my degree in economics." Now I'm asking you to explain your thought on how the fed works, stop trying to aviod the question.

vulturesrow · #23 10-25-2005, 12:24 AM

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Your answer was "Well I have a vague idea being that I got my degree in economics." Now I'm asking you to explain your thought on how the fed works, stop trying to aviod the question.

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That was called sarcasm. AGain, the answer to your question is "Yes". Would you like to move on or are you just going to get stuck in this stupidity loop? I have no idea what you want me to explain.

FishHooks · #24 10-25-2005, 12:27 AM

Fine why dont I rephrase my question in which a responce will dictate if you do or dont know what your talking about. How does the Fed work in regards to interest rates, give some examples. Fair enough or are you now going to say ....i dont have to answer that. For someone with a degree in economics I'm sure you would be willing to answer a simple question.

vulturesrow · #25 10-25-2005, 12:36 AM

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Fine why dont I rephrase my question in which a responce will dictate if you do or dont know what your talking about. How does the Fed work in regards to interest rates, give some examples. Fair enough or are you now going to say ....i dont have to answer that. For someone with a degree in economics I'm sure you would be willing to answer a simple question.

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Your question is nonsensical and I am certainly not obligated to anwer a question like "How does the Fed work" , esp since it proves nothing about what I know or dont know, given that I could google the answer in about 10 seconds. Why dont you just admit you had no idea what I was talking about when I said Bernake favors an inflation targeting approach to monetary policy?

FishHooks · #26 10-25-2005, 12:44 AM

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Why dont you just admit you had no idea what I was talking about when I said Bernake favors an inflation targeting approach to monetary policy?

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This is the goal of the Fed, like i said before this is nothing new. Inflation is the Fed's main concern/goal. However apparently you can't even explain what the fed does, where did you get your economics degree at...northeastern southwestner southern illions or some random college.

vulturesrow · #27 10-25-2005, 01:03 AM

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Why dont you just admit you had no idea what I was talking about when I said Bernake favors an inflation targeting approach to monetary policy?

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This is the goal of the Fed, like i said before this is nothing new. Inflation is the Fed's main concern/goal. However apparently you can't even explain what the fed does, where did you get your economics degree at...northeastern southwestner southern illions or some random college.

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Im pretty sure you have been drinking. Perhaps you honestly misunderstood me. Yes, price stability is a goal of the Fed, along with a few others. Bernake is an advocate of targeting a certain rate of inflation and using that goal as a framework for its open market operations. I realize that your Econ 101 class didnt go into much detail on this so I dont blame you. Bernanke wrote an entire book on this this topic titled Inflation Targeting : Lessons from the International Experience on this very topic. But I guess Bernanke doesnt understand the purpose or operation of the Fed either.

FishHooks · #28 10-25-2005, 01:45 AM

Maybe i should start a tally of how many questions you are avoiding, this is a reminder of why I dont post in this forum much anymore.

AngryCola · #29 10-25-2005, 06:35 AM

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Maybe i should start a tally of how many questions you are avoiding

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I think this is a great idea.

Make sure to include a description of each avoided question.

tylerdurden · #30 10-25-2005, 08:40 AM

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That doesn't eliminate or even control inflation at all....there would be huge fluctuations in prices. Actually the Fed's main goal is to control inflation, weather you think so or not.

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Are we talking about inflation or price fluctuations? They are not the same thing.

The Fed "controls the money supply" - this is a politically correct term for "counterfeiting". By adding money to the economy, they devalue the existing currency. The government (who gets to spend the money first) gains at the expense of everyone else, who's money value drops. THAT is inflation. Now that the dollar isn't even fractionally backed by gold, there is no limit to the Fed's ability to inflate.