Originally posted by: Kevin Lewis
I claim you're an idiot for not knowing that the government doesn't print money, it prints currency, which is something very, very different from money--and it prints currency to stop deflation, which is just as bad as inflation and often worse. If you have any urge to educate yourself on this topic, you can research historical periods in the US when deflation was a problem and find out just how difficult things got when the government didn't print enough currency.
I claim you're an idiot for wrongly saying that the Fed had inflation "under control" for the entirety of the glorious Trump administration. That's like saying it had the weather under control. Or maybe the earth's orbit! Hey, the earth didn't spiral into the sun during the TRUMP administration, did it? See? SEE?????
I claim you're an idiot for stating the obvious "economists said the stimulus payments would lead to inflation" without also stating the very important corollary---without the stimulus payments, unemployment, business failures, and all the pain that goes with those things would have been much greater. But because those things didn't happen, they're abstracts in the minds of the tiny-brained folk and thus, not real.
I claim you're an idiot for saying "the government shut down the economy because of covid." COVID shut down the economy, if anything did. But of course, the economy wasn't "shut down." It was slowed down. Big fucking difference. You, like so many people, drastically inflate the supposed role of the government in the world's economy--when you want to praise your gang that's in power or criticize the opposition when it's in power. The reality is that democratic governments have very little influence on domestic or global economies--and they shouldn't, given the holy sacred tenets of "free market capitalism."
1. You are clueless. The Federal Reserve is in charge of Monetary policy. They control the 'Money Supply'. this is measured in various ways but it is more than 'currency'. They do this by managing their balance sheet and adjusting bank reserve requirements. When we say they 'print money' it's a colloquialism that economists use to indcate expansion of the money supply.
2. You're claiming I'm "an idiot" for "wrongly saying the Fed had inflation 'under control' for the entirety of the Trump administration". Then claiming it's like saying 'it had the weather under control'. A second clueless statement. The charter of the Federal Reserve is Price Stability. They do that through monetary policy. That means trying to keep infatlion within a controlled 2-4% band (The inflation Target). You can clearly see (well you can't see anything) that the Fed was pretty much on target with their goal of price stability in the 4 Trump years, but has failed their mission miserably in the Biden years.
3. You claim I'm an idiot for pointing out that Democrat economists like Larry Summers and Jason Furmon warned the Biden administration that the American Recovery Act was going to pump 100 Billion Dollars a month MORE THAN WHAT WAS NEEDED into our recovering economy. Why can't you get that into your thick scull? They didn't say don't do anything. They said it was 3 times too big and a huge mistake. That makes you an idiot! Even more so because on top of that huge mistake you and your ilk supported adding on the 5 Trillion Dollar Build Back Broke Boondoggle. If you think inflation is bad now, we can only dream how high it would if Joe Manchin hadn't saved our asses. That makes you a double idiot and even more clueless.
4. Your final point is more stupidity. 'The Government Didn't shut down the Economy' because of Covid you say. I guess you don't remember the millions of 'non-essential' businesses ordered to close and then you claim "democratic governments have little influence on domestic economies". That may be the most clueless statement of all. They were ordered shut down...not by Covid Germs, but by Government officials. I'd say that was an 'influence on our domestic economy'.
Government impacts everything from Taxation, to Regulations to Business Law. You could spend the next 100 years trying to read every Government tax code, rule, regluation or law from Federal, State and Local Governments and wouldn't even scratch the surface. That's why we employ 1.2 million tax accountants. The Federal Reserve influences interest rates. The Department of Energy and State Public Utility commissions rule it over energy producers. And On and On and On. But the Government doesn't influence the Economy, right? Maybe not on Planet Kevin Lewis, but on Planet Earth it does.
5. You're right though. I am an idiot. I'm an idiot for even responding to this senseless gibberish from someone so hateful, foolish and clueless. This is your house. You live here. You built your life here. Carry on.
