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Comment Re:This is silly (Score 1) 720

There is no such thing as "the economy" when used like this in sentences like this.

Artificially-low interest rates tilt the labor-versus-equipment decisions towards equipment. We can expect that sometimes this means money is spent on equipment (or other capital expenses) rather than labor. Quantifying the size of that effect is not something I would care to do. Nor would I trust the conclusions of others -- unless put to the test before the fact in accordance with Allison's Precept.

Regardless of the estimated or actual size of the effect, it's something that shouldn't happen, IMO.

It is bad for "the economy" (in that: people make sub-optimal decisions, which affect people, negatively, overall).

I expect the beneficiaries of this would be people who own businesses (directly, as individuals, or indirectly, as stock or mutual funds or eventual recipients of money from pension funds), and those negatively affected would tend to be people fired or laid off or never hired or put on reduced hours.

The Fed's artificially-low interest rates almost certainly result in a net transfer of wealth and/or income from lower income people to higher income people.

Comment Re:Fewer candidates to draw from... (Score 1) 580

Or break it.

Or both.

Actually, their real mission is to do things that help ensure funding in the future and to keep and expand their powers, and to avoid doing things that will jeopardize that funding and those powers.

Covering up their misdeeds helps. Attempting to cover up misdeeds but failing jeopardizes.

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