Our dismal economic experience of recent years has been brought to us by the federal government, which has wreaked havoc through mismanaging the money supply.Which is mainly Ramesh's diagnosis.
I am not sure how the Fed managed put oil at $140. Oil at $140 was the result of tight money? Why, would oil coincidentally peak at $140, just before the crash, when money was tight?
How long was money tight? About six more months than it needed to be, over a four year period. The Fed is late to pull the punch because of central banking. If Ramesh doesn't like that, then Ramesh should spend more time advocating for the break up of the Fed.
I might also ask Ramesh to please look over the ten year yield for 30 years, why has it continually dropped? We did not suddenly arrive at Zero, we headed their intentionally, mainly with the debt spending hoards of Republicans leading the way.
Look, aniother clue from Mark Perry:
Based on today’s release from the BLS, here are the seven US metro areas (population of 50,000 or more) with the lowest jobless rates for July:
1. Bismarck, ND (2.5%)2. Sioux Falls, SD (3%)3. Fargo, ND (3.3%)4. Midland, TX (3.5%)5. Rapid City, SD (3.5%)6. Billings, MT (3.9%) tied with Iowa City, IA (3.9%)
With the exception of Iowa City, all six other metro areas are within a few hundred miles of either the Bakken shale oil fields (Bismarck, Rapid City, Billings) or the Permian Basin shale oil fields (Midland) or in or near the booming state of oil-rich North Dakota (Fargo, Sioux Falls).
So, Ramesh explain hos a central banking error caused all these oil drilling jobs while the national unemployment rate is 7.5%. Look harder, Ramesh. Ramesh and the NRO, the big government wing of the Republican party.
No comments:
Post a Comment