It’s The Fed, Stupid

I go an email from Brave New Films with the subject It’s The Fed, Stupid.

On YouTube, they have headlined it Fed Up: Why The Federal Reserve Needs Reform • BRAVE NEW FILMS.

Here is the video.

I told them by email and by comment on YouTube:

No, it’s Brave New Films, stupid.

The FED doesn’t have the control you imply. Otherwise the economy would have been fixed already. If you are worried about the cost of a mortgage, shouldn’t you be complimenting the FED on the low interest rates?

The FED doesn’t decide things willy-nilly, the Congress has give them goals, and the fed has told us all what their targets are for meeting those goals. They are trying for 2% inflation and are having a devil of a time getting there no matter how much money that they pour into the economy.

If your understanding of all this is exemplified by your movie, then I am darn glad you don’t have a say in how the economy is run.

This is what happens when the liberals who don’t understand economics get to weigh in. It’s not any better than the right wingers opining about what they understand very weakly.

The FED has its problems, but neither Brave New Films, nor Rand Paul, nor Ron Paul have enough knowledge to tell us how to fix it. Primarily, the FED wouldn’t be forced to use its ineffective tools to stimulate the economy if only the Congress and the President would use the very effective tools that they have at their disposal.

The Congress and the President refuse to invest enough in infrastructure. Such investment would put people back to work and it would put money into the economy in a way which would stimulate growth. Not only that, but such investments could save the lives of railroad passengers. See my subsequent post It’s The Infrastructure.

If despite all I have said, you still want to support this idiotic move, here is the link.

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