Philosophy Now Forum

bobevenson wrote: ↑Wed Jul 19, 2017 1:34 pm The only proper function of the U.S. Federal Reserve is to eliminate inflation by controlling the money supply. It should not be involved in establishing monetary interest rates, creating jobs, or any other goddamn thing that comes to mind!

Watch out folks. Bobby boy is looking for another Great Depression. (I didn't know that "goddamn things" came to your mind).

PhilX

bobevenson wrote: ↑Wed Jul 19, 2017 7:45 pm Stay away from economics, dum-dum.

Advice you should follow, but my Divine Guidance tells me you never will loser (you can't even pay your ISP bill which is why your website doesn't work dopey).

PhilX

bobevenson wrote: ↑Wed Jul 19, 2017 8:34 pm You don't know anything about websites unless you have one, dum-dum.

Dum-dum I know more about them than you ever will.

PhilX

bobevenson wrote: ↑Wed Jul 19, 2017 8:42 pm Please direct me to your website, dum-dum.

I keep trolls such as you away from it.

PhilX

bobevenson wrote: ↑Wed Jul 19, 2017 10:58 pm You don't know the first thing about websites, dum-dum.

I know yours isn't working dopey. That's all I need to know for now.

PhilX

bobevenson wrote: ↑Thu Jul 20, 2017 12:42 pm Yup, that's the sum total of your knowledge.

I'm thankful for small favors.

PhilX

bobevenson wrote: ↑Thu Jul 20, 2017 1:08 pm Right, small favors for small minds.

Btw, have you paid your ISP bill yet?

PhilX

So, in the event of a recession, where inflation is of no concern, we should not use monetary policy to get the economy going again? Should we rely on fiscal policy instead, which takes years to implement because of political bickering and seldom accomplishes much as it is usually implemented after the economic problem has already been solved by monetary policy? The reason why most economists prefer monetary policy over fiscal policy is because it can be implemented faster than fiscal policy can. This is also one of the principal reasons behind FED independence.