Originally Posted by
cawacko
Originally Posted by Taichiliberal
which means that Wall St. doesn't have a damned thing to do with Joe Schmoe's wallet...it's all about the corps, high investors and their hip connection to the Fed. A disgrace.
The stock market is not the economy. Look at the past decade as just one example where we've had the worst economic recovery since the Great Depression yet the Dow boomed. But too many people mistakenly look at the Dow and think that determines whether the economy is good or bad. And for too long the Fed has worried about the stock market over the economy when making decisions.
(I do appreciate your Libertarian-esque bagging on the Fed. I'm not sure why there isn't more bi-partisanship on that front.)
Here's the thing: since all the major corporations and businesses that (should) provide jobs for people depend upon Wall St. to determine their actions (aka bank accounts), the stock market jolly well is the economy. The problem lies in the federal gov't inability to make it's largesse transferable to the general welfare of the public....one of the reasons why I think Cuomo and De Blasio are full of it until they say those two words, "transaction tax".
During times of universal deceit, telling the truth becomes a revolutionary act.
George Orwell
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