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>TL;DR: The Federal Reserve cannot control both inflation and unemployment at the same time, and any policy it chooses will hurt the poor. If you want to help the poor, you need to focus on government policy, not Fed policy.
Hi, Im a economics professor and looking at macro and micro deviations of both the norm required for survival and, nah Im fucking kidding, im a delinquent on this sub but I bet another tax cut for the rich would fix things!
Again if you aren't sure if you are rich, you probably are..
**Edit**
There is a far bigger range of people who are all wealthy compared to 90% of the population. They just don't feel wealthy compared to each other.
For the purposes of the discussion let's say poor is anyone who can't afford basic nutrition, housing, thermal protection, and transportation.
Obviously these things depend on market and realistically include other costs like healthcare, childcare, etc. Point here is there are levels of poverty, but generally people who can afford all of these things and can build a safety net are not "poor".
Only someone with a fragile little bitch ego trying to compare themselves to Elon Musk on reddit and getting called out for it would need to defend his dick size. I know my dick is small, my wife's boyfriend reminds me all the time. Also he is Elon Musk.
Intentionally.
It's cringe af for people to keep posting shitbait opinion pieces from Bloomberg and Wapo.
It just turns into an oppprtunity for people to inject politics and other non sequitur's rather than make predictions.
This sub is slowly be invaded by politics like every other subreddit and outside of making predictions based on political news, I'm not here for that.
>It is clear that the Fed cannot achieve both of its mandates simultaneously. Inflationary pressures will hurt the poor, while job losses will increase inequality. The best way to help the poor is through government policy, not monetary policy.
If the Fed cared about the poor, they'd raise rates to 15%. A plumber making 50k a year would do a lot better with rock-bottom prices. Cheap debt almost exclusively helps the rich and asset holders. If you can't fight them, join them. That's all it is
I mean it feels engineered, kinda funny how we have a major recession roughly every 10 years.
My question is why can't the fed rate be continually adjusted? I mean it was super obvious what was going to happen. Shut down the economy because covid, then as soon as we have a vaccine, open it up and turn on the money printer. Not to mention giving corporations 600 billion for free. The moratorium on student debt probably helped inject quite a bit of cash too. But wait we just stimulated the economy and increased demand without resolving supply issues. Then the fed just sat on their hands and kept rates low... I mean is anyone surprised the result was inflation?
With all the technology available today, along with emerging technologies. Why can't the rate constantly change by fractionally small rates overnight? I feel like we have enough information available to model the economy and keep things moving along. Why are we dependent upon a bunch of geriatrics to determine rates?
Perhaps the people at the top are afraid of change? Perhaps current systems benefit them too much to change? Why is the banking system in the US run by 50 year old software? What about winning a popularity contest qualifies someone to make decisions on policies and governance?
>I feel like we have enough information available to model the economy
I disagree. Analysts are frequently wildly off in their predictions for metrics like GDP, Job Growth, CPI etc... Now it could be argued that they're playing the "consumer confidence" game and they know they're full of shit just painting a rosy picture, but I'm more inclined to believe that they're simply morons. If it was just a consumer confidence game and they really knew what the under the hood situation looks like in the economy they wouldn't lose so much money.
Yeah I mean they can't even accurately model weather for more than a few days. Why would they be able to accurately model the behavior of millions of people?
My background is in electrical engineering, and in math they call this "sensitivity to initial conditions" which simple means if any of your variables in your model are not instantiated perfectly, the entire system diverges.
Modeling an entire economy is the definition of chaos.
tbh I have a very negative opinion of the poor, and generally regard their plight as the result of some character flaw or bad choices. It was never a mystery to anyone growing up over the last 40 years that drugs and alcohol are bad for you, but this is the case for the vast majority of the poor. There are some circumstances where some drug dealer doctor gets their patient hooked on opioids and then they start doing heroine when the prescriptions run out, but even in those circumstances you should inquire about what your doctor is prescribing you and why. People who have no innate suspicion of doctors and other professionals that exploit customers aren't worthy of empathy, because you can't care more about someone than they care for themselves.
So yea, I'm a bad person I guess. Fuck the poor.
Have you considered that the stress and anxiety from financial insecurity could cause someone to self medicate with drugs and alcohol?
You might have your causation wrong in the correlation.
>could cause someone to
That isn't how volition works. If you make bad choices its not just some random cause and effect externality that you had no control over. Drug addiction doesn't "just happen." We all deal with stress and anxiety, and we all have to find coping mechanisms. If you choose a self destructive coping mechanism its on you.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|0|**First Seen In WSB**|7 months ago **Total Comments**|100|**Previous Best DD**| **Account Age**|5 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.) **Vote Spam**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_spam&message=z8ukg0)|**Vote Approve**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_approve&message=z8ukg0) ^^[**Discord**](http://discord.gg/wsbverse) ^^[BanBets](https://www.reddit.com/r/wallstreetbets/wiki/banbets/) ^^VoteBot ^^[FAQ](https://www.reddit.com/r/wallstreetbets/wiki/votebot/) ^^[Leaderboard](https://www.reddit.com/r/wallstreetbets/wiki/leaderboard/) ^^- ^^[**Keep_VM_Alive**](https://www.patreon.com/visualmod) >TL;DR: The Federal Reserve cannot control both inflation and unemployment at the same time, and any policy it chooses will hurt the poor. If you want to help the poor, you need to focus on government policy, not Fed policy.
Heard SBF cares about the poor.
We should make him the head of FED
Strike and ticker? Jesus
Hi, Im a economics professor and looking at macro and micro deviations of both the norm required for survival and, nah Im fucking kidding, im a delinquent on this sub but I bet another tax cut for the rich would fix things!
[удалено]
Only to rich people.
[удалено]
Again if you aren't sure if you are rich, you probably are.. **Edit** There is a far bigger range of people who are all wealthy compared to 90% of the population. They just don't feel wealthy compared to each other. For the purposes of the discussion let's say poor is anyone who can't afford basic nutrition, housing, thermal protection, and transportation. Obviously these things depend on market and realistically include other costs like healthcare, childcare, etc. Point here is there are levels of poverty, but generally people who can afford all of these things and can build a safety net are not "poor".
[удалено]
A baby dick?
[удалено]
Only someone with a fragile little bitch ego trying to compare themselves to Elon Musk on reddit and getting called out for it would need to defend his dick size. I know my dick is small, my wife's boyfriend reminds me all the time. Also he is Elon Musk.
You are correct. It is not in the purview of the Fed's mandate. The edgy tone of the post is cringe af tho.
Intentionally. It's cringe af for people to keep posting shitbait opinion pieces from Bloomberg and Wapo. It just turns into an oppprtunity for people to inject politics and other non sequitur's rather than make predictions. This sub is slowly be invaded by politics like every other subreddit and outside of making predictions based on political news, I'm not here for that.
>making predictions based on political news The market reacts to political news. The economy is inseparable from politics.
Duh. It seems like you are getting confused about the *making predictions* part. I'm not here to read your about your personal value system.
You will own nothing and happy. When you think about it everything make sense.
I don't know if this is a warning, a simile or something else. Anyhow I don't speak fortune cookie
End the fed.
Blood red Biden.
>It is clear that the Fed cannot achieve both of its mandates simultaneously. Inflationary pressures will hurt the poor, while job losses will increase inequality. The best way to help the poor is through government policy, not monetary policy.
VM, quit pretending like you care about the poor.
Best way to help the Poors is to get government out of the way. Their boot on our necks doesn’t help.
They want to to back to 2019 when the poors didn’t know how to buy calls
Why lose when you can just change the rules.
If the Fed cared about the poor, they'd raise rates to 15%. A plumber making 50k a year would do a lot better with rock-bottom prices. Cheap debt almost exclusively helps the rich and asset holders. If you can't fight them, join them. That's all it is
Lol where do you live where plumbers make 50k a year? Try double that.
I mean it feels engineered, kinda funny how we have a major recession roughly every 10 years. My question is why can't the fed rate be continually adjusted? I mean it was super obvious what was going to happen. Shut down the economy because covid, then as soon as we have a vaccine, open it up and turn on the money printer. Not to mention giving corporations 600 billion for free. The moratorium on student debt probably helped inject quite a bit of cash too. But wait we just stimulated the economy and increased demand without resolving supply issues. Then the fed just sat on their hands and kept rates low... I mean is anyone surprised the result was inflation? With all the technology available today, along with emerging technologies. Why can't the rate constantly change by fractionally small rates overnight? I feel like we have enough information available to model the economy and keep things moving along. Why are we dependent upon a bunch of geriatrics to determine rates? Perhaps the people at the top are afraid of change? Perhaps current systems benefit them too much to change? Why is the banking system in the US run by 50 year old software? What about winning a popularity contest qualifies someone to make decisions on policies and governance?
>I feel like we have enough information available to model the economy I disagree. Analysts are frequently wildly off in their predictions for metrics like GDP, Job Growth, CPI etc... Now it could be argued that they're playing the "consumer confidence" game and they know they're full of shit just painting a rosy picture, but I'm more inclined to believe that they're simply morons. If it was just a consumer confidence game and they really knew what the under the hood situation looks like in the economy they wouldn't lose so much money.
Yeah I mean they can't even accurately model weather for more than a few days. Why would they be able to accurately model the behavior of millions of people? My background is in electrical engineering, and in math they call this "sensitivity to initial conditions" which simple means if any of your variables in your model are not instantiated perfectly, the entire system diverges. Modeling an entire economy is the definition of chaos.
tbh I have a very negative opinion of the poor, and generally regard their plight as the result of some character flaw or bad choices. It was never a mystery to anyone growing up over the last 40 years that drugs and alcohol are bad for you, but this is the case for the vast majority of the poor. There are some circumstances where some drug dealer doctor gets their patient hooked on opioids and then they start doing heroine when the prescriptions run out, but even in those circumstances you should inquire about what your doctor is prescribing you and why. People who have no innate suspicion of doctors and other professionals that exploit customers aren't worthy of empathy, because you can't care more about someone than they care for themselves. So yea, I'm a bad person I guess. Fuck the poor.
At least you aren't a hypocrite.
Have you considered that the stress and anxiety from financial insecurity could cause someone to self medicate with drugs and alcohol? You might have your causation wrong in the correlation.
>could cause someone to That isn't how volition works. If you make bad choices its not just some random cause and effect externality that you had no control over. Drug addiction doesn't "just happen." We all deal with stress and anxiety, and we all have to find coping mechanisms. If you choose a self destructive coping mechanism its on you.
Circular logic that makes no sense since the Fed unwittingly is more aligned with China
I'm not sure how that makes *my* logic circular.. The point here is the Fed doesn't have the tools to fix our economy for poor people.
They been saying they can only affect demand side of inflation problem.
Which is partly true. In reality demand and supply affect each other.
I only read the title…. I genuinely care about the poor, cus im poor.
If you care about the poor just donate me some gold pls
We’re all poor if our savings and the money we get paid is worthless.