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Biden hands economy over to Wall Street

Journal by fustakrakich

Biden said he told Federal Reserve Board Chair Jerome Powell recently that the Fed was independent and should take whatever steps it deems necessary to support a strong, durable recovery... "It turns out capitalism is alive and very well," he said.

Biden hands economy over to Wall Street | Log In/Create an Account | Top | 16 comments | Search Discussion
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
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  • (Score: 1, Insightful) by Runaway1956 on Monday July 19 2021, @06:56PM

    by Runaway1956 (2926) on Monday July 19 2021, @06:56PM (#1157977) Homepage Journal

    “As our economy comes roaring back”

    --
    Abortion is the number one killed of children in the United States.

  • (Score: 0) by Anonymous Coward on Monday July 19 2021, @07:14PM (4 children)

    by Anonymous Coward on Monday July 19 2021, @07:14PM (#1157982)

    The lovely thing about inflation is that you can borrow boatloads of money, invest it in tangible assets, then later pay the loans back with diluted dollars. Like the stock market, however, timing can be tricky.

    If all your wealth is in tangible assets, inflation doesn't matter, and ergo deficits don't matter. Thank you for your wisdom Mr. Cheney.

    • (Score: 0) by Anonymous Coward on Tuesday July 20 2021, @04:29AM (3 children)

      by Anonymous Coward on Tuesday July 20 2021, @04:29AM (#1158157)

      Yup.

      Watch the proles howl as inflation gobbles up their loltastic $15/hr "gains" that DSA+ISA/Socialist Alternative struggled for. They're never gonna figure out they need a general strike if they ever want any real gains like single payer healthcare, or even free college education so that we might all some day attain a sufficiently advanced level of education to understand CRT.

      Eh, but they're idiots, that's why they're proles. I sleep like a baby knowing the $7.5 trillion Pentagon budget (over 10 years) has my back if the proles ever get any ideas about expropriating or even taxing me.

      Can you imagine what kind of crazy world we spend trillions of dollars over the course of a decade on healthcare instead? Talk about bizarro world!

      • (Score: 0) by Anonymous Coward on Tuesday July 20 2021, @06:43PM (2 children)

        by Anonymous Coward on Tuesday July 20 2021, @06:43PM (#1158370)

        I sleep like a baby knowing the $7.5 trillion Pentagon budget (over 10 years) has my back if the proles ever get any ideas about expropriating or even taxing me.

        HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

        You do realize that the ranks of our military are populated mostly by "proles", right? Whose side do you think they are going to be on, come the revolution? But, go ahead, sleep like a baby! Also, the chain of command takes their orders from the CiC. They won't be protecting you from the tax man. Just so you know.

        • (Score: 0) by Anonymous Coward on Tuesday July 20 2021, @09:27PM

          by Anonymous Coward on Tuesday July 20 2021, @09:27PM (#1158445)

          That's why they're offering citizenship for military service. You think a refugee won't kill you for a better life?

        • (Score: 0) by Anonymous Coward on Wednesday July 21 2021, @04:47AM

          by Anonymous Coward on Wednesday July 21 2021, @04:47AM (#1158638)

          The tax man, WTF are you on about?

          I don't pay taxes. Taxes are just for you proles.

  • (Score: 2, Interesting) by Anonymous Coward on Monday July 19 2021, @08:02PM (6 children)

    by Anonymous Coward on Monday July 19 2021, @08:02PM (#1158007)

    The Fed is independent. This is true; it's written into its foundation.

    What this really translates to is Biden saying: "Well, shit. Inflation's gonna whup my ass like it did ol' Jimmah's back in the seventies. I don't control the Fed, and I don't control the budget, so what the fuzzy four-knuckle fuck am I going to do? That's right, I'm-a pass the buck! Can't do it too much to Congress, because they're my party. Yo, Fed? Fix the inflation, man! But keep the economy rolling strong, wouldja?"

    As for inflation, the official numbers ludicrously undercount it for the folks in the street because it excludes things such as, oh, say, food. Food prices have been on a tear. And that's to say nothing of the way that the chained CPI is really a cheat on the real CPI. Not that Biden controls any of that. On paper the best that he could do is a continuation of what Trump was trying to do, and simplify and reduce regulations - but he'd sooner be caught dead with Hunter's dick in his mouth and Pelosi pegging him. So the executive continues to be a burden on the economy.

    Oh well.

    • (Score: 2) by Runaway1956 on Monday July 19 2021, @08:23PM (5 children)

      by Runaway1956 (2926) on Monday July 19 2021, @08:23PM (#1158018) Homepage Journal

      Dude - you need to clean my monitor after that pegging sentence!!

      --
      Abortion is the number one killed of children in the United States.

      • (Score: 0) by Anonymous Coward on Monday July 19 2021, @08:37PM

        by Anonymous Coward on Monday July 19 2021, @08:37PM (#1158026)

        I'll do it right after I ingest enough brain-bleach to recover from the mental image myself.

        Mmmm, brain-bleach goes well with pork rinds.

      • (Score: -1, Offtopic) by Anonymous Coward on Monday July 19 2021, @09:01PM (3 children)

        by Anonymous Coward on Monday July 19 2021, @09:01PM (#1158038)

        You're responsible for cleaning up your own cum-drizzled monitor.

        • (Score: -1, Offtopic) by Anonymous Coward on Monday July 19 2021, @09:06PM (2 children)

          by Anonymous Coward on Monday July 19 2021, @09:06PM (#1158040)

          Found the Hunter Biden phallus worshipper ^

          • (Score: -1, Offtopic) by Anonymous Coward on Monday July 19 2021, @10:27PM

            by Anonymous Coward on Monday July 19 2021, @10:27PM (#1158073)

            Found the cuck that prefers fluffing hunter for his onlyfans!

          • (Score: 0) by Anonymous Coward on Tuesday July 20 2021, @07:17AM

            by Anonymous Coward on Tuesday July 20 2021, @07:17AM (#1158186)

            Damn. First time I misread that as "Hunter Biden phallus woodchipper". Bit of weird mental picture, that one.

  • (Score: 0, Flamebait) by khallow on Wednesday July 21 2021, @12:47PM (2 children)

    by khallow (3766) on Wednesday July 21 2021, @12:47PM (#1158725) Journal
    On your title "Biden hands economy over to Wall Street", monetary policy is not the economy. While inflation and the health of the dominant currency can be a huge effect in an economy, it is not the economy. For example, cars and buildings don't stop being cars and buildings just because someone blows up the US dollar.

    • (Score: 1) by fustakrakich on Wednesday July 21 2021, @07:00PM (1 child)

      by fustakrakich (6150) on Wednesday July 21 2021, @07:00PM (#1158850) Journal

      :-) Pedantry will get you nowhere. The treasury is being emptied into the financial markets, you should be starting to feel their hyperinflation "trickling down" just about now, and then they will tell us we "must control the deficit" while bickering over infrastructure

      --
      La politica e i criminali sono la stessa cosa..
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