Posted by emmanuel98 on June 29, 2012, at 17:58:36
In reply to Re: Healthcare Bill Deemed Constitutional » emmanuel98, posted by Dinah on June 29, 2012, at 12:10:03
> > I get angry at how little most people know, yet how much they think they know.
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> For example, had you said that you thought Carter was too harshly judged for the bad economy in his time, and explained why, that would be one thing.
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> Instead you said the above.
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> I hate unregulated boards.
I did explain why. The federal government has NO CONTROL over the Federal Reserve. They are entirely different institutions. Federal Reserve employees are not civil servants. Their budget does not come from the Treasury. Their main committees represent bankers who, in fact, own the 12 regional Feds. The president appoints the governors and chair who serve 14 year terms, so that a sitting president has virtually no control over the Fed in a single term. The Fed caused the economy to fail, not Carter. The Fed in 1979 engineered the worst recession, at that time, since the 1930s. The short-term interest rate (which the Fed sets and controls) rose to 21%. This had nothing to do with Carter. This is what I mean when I say people don't understand enough about how the economy works.
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poster:emmanuel98
thread:1020322
URL: http://www.dr-bob.org/babble/20120608/msgs/1020475.html