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Post By
bd2999 
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Member Since: Sat May 17, 2008
In Reply To
Visitor

Member Since: Sun Jul 30, 2017
Posts: 2,929
Subj: Re: You're confused.  I don't. 
Posted: Wed Jun 22, 2022 at 01:25:27 pm EDT (Viewed 110 times)
Reply Subj: Re: You're confused.  I don't. 
Posted: Wed Jun 22, 2022 at 11:51:11 am EDT (Viewed 103 times)



    Quote:

      Quote:
      I'm saying that Biden's apparent sole strategy to deal with inflation is to leave the economy in this guy's hands.  Biden saying earlier that his main method to tackle inflation is to just let Powell and the FED do what they like.


      cheers,
      ---the late great Donald Blake 


      Quote:
      The FED has always been an independent institution like the DOJ. Biden has stated he will let those in charge do their jobs, as he should.

    I imagine the argument would be to use the power of government in other ways to try and correct problems, even though that has its own problems with it. 

    I think the Fed acting is necessary with how things are but I think he could be pushing for things to try and relief the pressure in other ways. I hope they are doing that but in terms of major policy I have not heard too many. 

    What is being done on supply change, the energy front, international policy to help make sure there are not these supply change problems again and that so much of the world is dependent on oil from bad actors. I wish more was being done on that front even if it would not solve the current crisis. 


      Quote:
      Biden is using used (strategic reserves for example) and is considering other alternatives to curb inflation which isn't an easy task at this point. The FED is the number one arrow in his quiver (no different than all former presidents) to address inflation and they are aggressively raising interest rates to combat the issue.

    The problem is the president has limited power over this without Congressional support. And I do not see the GOP helping when the mid terms are coming. And they will forget about the problem when and if they take it. 

    And even if they do pass some things that would help over time I imagine a conservative judge would put a stay on it and SCOTUS would deem it no good.   


      Quote:
      What's your point here?  An attempt to make Biden look bad here?

    Furthermore, what is your quick fix to the problem then?

I am curious to hear that as well. I do not think there is an easy fix in the current system. Even if all the federal government was working together there may be resistance in some states just because and it would not be things that would be immediately useful. 

IMO, among other things a push for innovation to electric cars and energy innovations outside of fossil fuels is among the keys for energy. Having the US become a leader there reduces our need for foreign energy and would allow through trade a reduction in Europe need that would diminish the power of Russia and OPEC alot.

It would be hard to do with how strong the fossil fuel industry is in the US, but it would help with alot of geopolitical issues based on energy anyway and take away alot of power from alot of bad actors that are dependent on oil for their revenue. Venezuela, Saudis, Russia and so on. 

I also think that more needs to be done to encourage farming within the US beyond factory farming to help with domestic food supply and the world and probably a dozen of other things that factor into global markets that impact prices that limits the control of any one country. 

Hardly a perfect solution but I would attempt massive pushes in that area and with those reasons (since so many regard climate change mitigation as a dirty word). Frame it as national and economic security. 

And what is your solution to the Russia issue where you stated sanctions aren't good enough. What is your quick fix to solve the Russia issue?



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