Everyone is a bad faith actor to you
US Curren$y on Pace to Pass the Euro
- Thread starter Serious
- Start date
Godless Socialist CEO
Superstar
Most of the people that post in HL are doing so in good faith but you certainly don’t fit that qualification.Everyone is a bad faith actor to you
You came into a thread on monetary policy to whine about name calling. Absolutely pathetic stuff
It also takes a special brand of paste eater to not understand why someone passionate about people would hold vitriol towards someoneHandwaving millions who have done nothing wrong potentially losing their livelihood for totally unnecessary reasons
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the ego
what are you doing in the streets for the people? just interested, because you seem to be quite busy on here as well
Godless Socialist CEO
Superstar
8k posts in 7 years is busy on here?????
Also more bad faith posting.
“You can only care about other people on the specific terms that I’ve put forth for you”
Hmmmmmm
Just say you don’t agree with my beliefs and keep it moving my guy lol
Take the asshurt over bad words online somewhere else. If you and your boy don’t like the way I speak to you, block me and stop responding to me.
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Why dont you explain what you mean by austerity to dude instead repeating the same fxking shyt over and over again?
And no, this is more complex than austerity.
Godless Socialist CEO
Superstar
Why would someone participate in a thread about monetary policy without knowing what austerity is? I responded to him because I figured he knew what it wasWhy dont you explain what you mean by austerity to dude instead repeating the same fxking shyt over and over again?
And no, this is more complex than austerity.
I’ve also explained over and over again, if austerity plays a role in this overall it’s a bad thawing and yes the fed interest Rate hikes have played a role therefore = not a good thing which is my point and people are trying to make it controversial despite there being plenty of people who agree that the fed rate hikes are bad. You’d think I came in here advocating for executing everyone at the fed or something.
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Understanding Austerity, Types of Austerity Measures, and Examples
Austerity is defined as a state of reduced spending and increased frugality.
Raising interest rates won’t solve inflation. Here’s why.
On June 1, the Bank of Canada is expected to increase interest rates again, from 1.0% to 1.5%. Progressive economists argue that this won’t address the root causes behind current inflationary pressures and may harm our economy. There’s much more that governments could be doing to better address...
Godless Socialist CEO
Superstar
There’s so much literature out there covering why what the fed is doing is a terrible idea.
Austerity cannot be enacted by the Central bank. It can only be enacted by the Federal/Central government through fiscal policy either by:
A. Increasing taxes
B. Cutting gov’t spending
C. Combination of both
The Fed controls monetary policy i.e. the expansion / contraction of the money supply.
Inflation is and will largely remain a monetary phenomenon. Too many dollars chasing too few goods. Simple as that.
Hiking interest rates =/= Austerity, I just want to clear that up for the thread.
Godless Socialist CEO
Superstar
Weird all these articles that talk about the fed raising rates and austerity guess all those people are dumb
O well
I’ll take my $20 U.S to DR where I know my dollar go further for a good time 
Check the investopedia definition of austerity, it makes no mention of the central bank.
Governments take austerity measures when their debt burden gets too large and a risk of default is near. So they raise taxes to get more revenue, or cut spending.
The central bank has absolutely jurisdiction there.
This isn’t Austerity. This is the Fed hiking interest rates to cool off demand by making it more expensive to borrow money, simple as that.
Godless Socialist CEO
Superstar
And yet, tons of stories online talk directly about the fed raising rates and austerity. You’re dismissing it as if the two arent directly tied together. Lots of media outlets disagree. The answer to the rise in rates is always to seemingly cut spending by companies and the government and it always negatively affects average Americans. Once again my statements aren’t controversial but y’all have some weird reflex about this because y’all wanna celebrate some stupid shyt
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Can raising interest rates lead to the Federal government taking Austerity measures? It could if the rise in interest payments from higher rates make servicing outstanding debt difficult. But it is not a 1 for 1 relationship. If a government has no debt and its central bank raises interest rates to 10% but that same government collects tax revenue and spends less than it collects, it will never have to take austerity measures.
My issue is terming the wrong things as austerity. The central bank CANNOT take austerity measures. It DOES NOT have authority over government fiscal policy. That’s the congress and the US treasury.
The Fed can only:
-set interest rates
-create/print money (by buying government bonds or other financial assets) That’s it.
We don’t want to litter threads with misinformation
Godless Socialist CEO
Superstar
“If a government has no debt”
Now we’re playing a different game all together. Name a government without debt. Name a business that employs a shyt ton of people without debt. I’ll wait
The fed literally did this to choke the money supply leading to a cut in spending. They knew that would happen. So ur trying to make the argument that they did without any reasons behind it? You’re talking about something in a vaccum. Unfortunately that’s not how the world works
You saying that the fed raising rates wasn’t about driving a cut in spending is the lie. When Everyone knows that’s why they did it. That’s an austerity measure my guy