Callinectes
Proud MAGA Semi-Facist
This is how stupid president tater head is and every one of those jackass congress cretins who voted for that monumentally fucked up “inflation reduction act” are.
What is the purpose of the fed raising interest rates? To cool off a hot economy that can lead to high inflation, right? They raise the interest rates that financial institutions pay, which raise the interest rate on things that consumers want (houses, cars, other big ticket items), thereby making those things unaffordable which lowers demand. This effectively takes money OUT of the economy.
Along comes these moronic pieces of legislation (IRA, infrastructure bill, and the covid relief bills), that are pumping trillions INTO the economy, and compounded by soaring energy costs, and we’re right back where we were.
When I was a young coast guard coxswain (look it up), a wooden fishing boat caught on fire at the dock and we were tasked with putting it out. Smoke was pouring out of it and we couldn’t go below deck, so we chopped a small hole in the starboard bow and started to pump fire fighting foam from our boat, onto the flaming diesel fuel and oil pooled in the bilges. The volunteer FD came on scene, chopped a hole in the port bow, and started pumping fresh water onto our foam blanket that was smothering the fire, allowing the fire to repeatedly reflash. This went on until my boss finally epically and colorfully chewed out the head local fire dog on scene, and he left with all his toys. The boat burned to the waterline.
Same thing happening with the economy. The idiots in power and the fed working at crossed purposes. Something has to give.
What is the purpose of the fed raising interest rates? To cool off a hot economy that can lead to high inflation, right? They raise the interest rates that financial institutions pay, which raise the interest rate on things that consumers want (houses, cars, other big ticket items), thereby making those things unaffordable which lowers demand. This effectively takes money OUT of the economy.
Along comes these moronic pieces of legislation (IRA, infrastructure bill, and the covid relief bills), that are pumping trillions INTO the economy, and compounded by soaring energy costs, and we’re right back where we were.
When I was a young coast guard coxswain (look it up), a wooden fishing boat caught on fire at the dock and we were tasked with putting it out. Smoke was pouring out of it and we couldn’t go below deck, so we chopped a small hole in the starboard bow and started to pump fire fighting foam from our boat, onto the flaming diesel fuel and oil pooled in the bilges. The volunteer FD came on scene, chopped a hole in the port bow, and started pumping fresh water onto our foam blanket that was smothering the fire, allowing the fire to repeatedly reflash. This went on until my boss finally epically and colorfully chewed out the head local fire dog on scene, and he left with all his toys. The boat burned to the waterline.
Same thing happening with the economy. The idiots in power and the fed working at crossed purposes. Something has to give.
