BTW....

Necessary!!!

For a society to exist, you must have laws, rules, and orginazation!
If not, you have anarchy, crime, and fear. You have Iraq without the US military!

I agree with azrae1l get rid of the corruption and we have a good one!

Vote for John Edwards and we can get our government back on track and working for "The People."

Like that?

Oh yeah, what about
when Alan Greenspan
was Chairman of the Fed?

Extended recession.

So he keeps lowering
interest rates.

Nothing happens.

He lowers them again.

Nothing.

http://www.salon.com/tech/htww/2007/12/12/greenspan_didn_t_do_it/index.html

Maybe if something doesn't
work you should, say,
try something else that
does?

And now there's a
housing crisis because
of easy lending policies.

Yes I did take
economics, micro
and macro.

Then, Greenspan
retires and
writes a book
bashing the
Bush Administration.

http://www.cnn.com/2007/POLITICS/09/16/greenspan.book/

The Chairman of the
Federal Reserve
has quite a bit of power.

He holds the purse strings
and his decisions do affect
the economy, sometimes adversely.

Exactly

That wasn't a reply
to you Fanta.

I agree.

Stop corruption in government
and give power back to
'We The People'!

Could you imagine what the economy would be like without the fed? We are currently, last time I checked not sure about current inflation/unemployment/price level, we are in a stagflation. Well in a stagflation it takes the FED to get us out of!

So what, Greenspan sucked! You are also forgetting there are are other members that decide on open market operations. All of them have 14 year tenures. Is it right to blame it on the chairman of the fed who only has one vote in the entire process? NO.

I do agree it seems like at times the Fed hurts our AD-AS equilibrium (and I am TOTALLY disgusted by the way the fed lowered the interest rates to lower than 1%!)

The point is that without the fed I would hate to see where our economy would be right now. The Fed's job is to stabilize our economy into a Long Run equilibrium and after 9/11 our AD dropped DRAMATICALLY! People were becoming very pessimistic about the economy and the fed had to do something to keep the economy from going into the crapper. They now realize that they made a mistake by leaving interests rates so low for such a long period of time. If something goes wrong with the government/economy it is too easy to point the finger to the Fed , Congress, or the President. Like normal people they all make mistakes!

Economics major btw, beyond micro and macro .

My econ novel is done! Enjoy

PROBLEM!!
Everyone will go off voting in 4 or 5 different directions, and we will get stuck with the status Que!

Only in a pants suit!

I also took Finance
and know a little
bit about Ethics
which is sadly
lacking in government
today.

Yes, the Fed's job
is to keep the economy
stable. I get that.

And, yes, we need
someone to control
the money supply
or there would
be general chaos
and it would be
like the French
Revolution.

And yes, people
make mistakes,
and no, these
aren't normal
people.

These are (or were)
powerful people
in power positions
in government.

And their mistakes
affect millions
of lives, therefore,
they should have to
account for them.

But they probably
won't, except for
what will be recorded
by present and future
historians.

We The People must speak with one voice.
A consensus!
Without it, we are just an empty mob!

What I meant Fanta
is that we have to
vote for someone
who will take
on corruption
and I agree
with you that
Edwards might
be able to
do that.

So who do you think should control our money supply? Millions of people can't because of conflicting interest. Well despite the fact that so many people on here are calling for the end of the the Fed, thankfully, it won't happen. I also think that we the people should vote in the chairman of the Fed (that may be what you all are talking about but I did not pick it up) but beyond that they do what they see fit for the economy.

Also keep in mind the fluctuation of the economy is unpredictable and the Fed does the best job they can with controlling it.

Yep, he made millions sueing Corporations!!

The current Fed Res, with a little tweaking!!

I also think that we the people should vote in the chairman of the Fed



Im sorry, but have you not watched our Presedential election?


We'd end up with a Ron Paul in charge of the worlds largest economy!!

I just think a
Chairman of the
Federal Reserve
should try to
do a better job
and stop monkeying
with things that
won't work, like
tweaking the
interest rates.

It's like what
was done in the
Reagan era with
'Trickle-Down
Economics',
which was an
absolute disaster.

And so what do they
do, they try it again!

Something 'trickled down'
all right!

Haha!

I agree, and still with the housing market situation I agree that was a time bomb waiting to happen. Once we finally got a new chairman in Big Ben I have noticed a lot more responsible decisions, although the recent drop the the interest rate confused me. I thought it should have stayed the same.

Says who? You?


Yep, and I shall take that with the grain of salt it is worth.

I can post, discuss any topic, anywhere, anytime I choose..

I guess that
only time will tell.

what do they govern? its not us! they to busy beeing worried about what party said this or that, or whats going on in the mideast, so to the government i think they are all full of bull, an the media wether its tv, internet, radio, is the same way. i say we put them all on survior and leave them there for four years

No argument here.

And also stop
lining their
pockets with
their ill-gotten
gains.