What is the only thing worse than having monetary policy in America run indirectly mostly by the banksters and large financial institutions? The banksters having total control of monetary policy.
|By: Jon Walker Monday June 6, 2011 1:41 pm|
|By: Jon Walker Tuesday May 3, 2011 3:46 pm|
Imagine if five of the 12 voting members of the Federal Open Market Committee were selected exclusively by unemployed Americans, instead of the current system of having them chosen by rich bank executives. This could be done. Currently five of the voting members on the FOMC, which sets monetary policy, are presidents of one of [...]
|By: Jon Walker Friday April 29, 2011 5:30 am|
There seems to be a broad acknowledgement that the Federal Reserve has made the terrible decision to randomly change their goals by making their new top priority maintaining a one-percent inflation target, instead of the old understanding, two-percent inflation, or trying to achieve full employment, despite 8.8 percent official unemployment. I will let Paul Krugman [...]