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Journal smittyoneeach's Journal: Fed up 12

Zero Hedge

Of course, the direct implication here is also very clear, if very sad: the rich who can afford college, will end up becoming even richer thanks to the better-paying jobs their degree affords them, while everyone else will either drown under the weight of student loans, or simply be relegated to far less-paying jobs during their career. And while the Fed can be confused about this conclusion, not even the Fed is confused that it itself is the reason for this record and increasing disparity between rich and poor.
So the next time you curse someone for making college so expensive you need hundreds of thousands in debt to pay for it, or are cursing the fate that made you into a 40+ year old debt slave, aim those curses where they belong: Alan Greenspan, Ben Bernanke and now, obviously, Janet Yellen. Because for all the "confusion" about America's record wealth divide that French socialists have to reprise the role of Karl Marx in the process selling blockbuster books to a new generation of pre-communists, the fundamental reason for the greatest class divide in history is a very simple three letter word: the Fed.

I'm guessing that the Progressive gravy train crashes spectacularly.

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Fed up

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  • When in doubt, blame the fed, right? You don't need a good explanation because they are a universal reason for anything you don't like. Can you tell me how they caused 9/11 while we're at it?
  • Funny that you believe what the Fed is doing is "progressive".

    It's only helped the top 1%. It has nothing to do with Progressivism.

    • I'm sorry: did you believe that Progressivism was about helping people? Rube.
    • The word "progressive" - as with most political terms - has no actual meaning to Smitty, beyond "something Smitty disagrees with". It doesn't matter even what the actual results of the action are, as long as the initiator of the action is someone who Smitty dislikes. The disliked person can then be labeled as any (or any combination) of "progressive"/"liberal"/"socialist"/"communist"/"anarchist"/"Islamist"/"terrorist"/"fascist"/"atheist" and more.
      • Let's see: Smitty posts a JE - check.
        OCD Boy posts mutliple times - check.

        Only way for this morning to get any better is for d_r to complain simultaneously (again) that smitty's journal is public and that I post in d_r's (also public) journal.

        Cognitive dissonance. It's what's for Breakfast.
  • The Fed is responsible for major evil, but this is hardly one of them. "Quantitative easing" certainly inflated the price of everything, but that's a squarely Keynesian/Left-wing thing, not a non-partisan Federal Reserve thing. And it happened under an Obama chair appointee, and an appointee of the unreliable Bush 43 (unwavering on social Conservatism but limp-wristed on fiscal Conservatism) from the Left-leaning Brookings Institution.

    The national trumpeting that everyone and their mother should go to colle

  • That cuz you guys keep putting pennies on the track...

10.0 times 0.1 is hardly ever 1.0.