Wages do need to come down.
For a very small number of people who seem to have all of the wages.
Yeah the mean should go down but the median should go up. Those outliers at the top are a problem.
Perhaps we should eliminate the outliers so we can get a more accurate understanding of the normal distribution.
That was the most professional version of a call to guillotines that I’ve ever heard.
;) Gotta package it right
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I’m not sure what your statement is intending. Are you saying people who work at the Fed aren’t beholden to corporate interests just because there aren’t shareholders?
The same fed that has the keys to the money printing machine, bank lending programs, and powers for short term low interest loans used to “stabilize market conditions”, not to even mention the revolving door of regulators moving to private positions after their time deeply embedded in our financial institutions?
I’m not sure what your statement is intending.
The title is a lie, my statement intended to point that out.
Are you saying people who work at the Fed aren’t beholden to corporate interests just because there aren’t shareholders?
No, I meant exactly what I said: It’s not privately held, and the profits it makes go to public coffers not to private owners.
The same fed that has the keys to the money printing machine, bank lending programs, and powers for short term low interest loans used to “stabilize market conditions”, not to even mention the revolving door of regulators moving to private positions after their time deeply embedded in our financial institutions?
Disagreeing on Fed policy is very different than claiming the Fed is a privately owned institution that seeks out profit for itself.
There’s no secret meaning to what I wrote, and I never said the Federal Reserve was benign or without faults. All I said was the title got it wrong, and it did.
Your comment seemed like a non-sequitur, but mostly because the title didn’t seem to be literal to me and more of a statement on corruption. Normally, when people make what I believe to be non-sequiturs, it’s because there’s an additional point they’re trying to make that would make that non-sequitur click into place.
I appreciate the clarity.
I can see how you read the title like that, I might have done the same but I’ve heard this exact misconception a lot from YouTube and Reddit. Not sure where it originates, but a lot of people seem to think it’s literally true.
That is…scary. Yeah I’m all for calling our current system of governance a keptocracy or make comparisons about “buying a ticket to congress”, but if those statements are being taken literally then getting us to a place where those aren’t just little quips and more of a reality is going to be easier than I thought.
the title didn’t seem to be literal to me and more of a statement on corruption
That only makes it worse. “I only lied about bad thing X being Y because I want to attach bad connotations to Y”.
One of my favorite things on this earth is capitalists admitting that if wages ever rise such that workers can afford a decent life, the price of a decent life will just rise to exclude them in the same breath they use to talk about how capitalism lifts people out of poverty.
Artificial scarcity in a post-scarcity society is wonderful isn’t it :')…
Nice to see so much crossover interest from other instances on this one. Love the federation!
Well… they’re partially correct. If we cut “wages” at the top, then prices will go down because they’re no longer being pulled up.
Specifically, the economy is a Ponzi Scheme!
Pyramid scheme.
I don’t remember the Fed saying anything like that a year & a half ago.
Powell has been saying this for a long time. He doesn’t seem to like that people are making more money.
Here’s just one of a plethora of examples you can find if you’d just Google it.
Why do I get the feeling he’s not talking about the rich here?
Because of course he’s not. To me it seems he’s definitely more concerned about the pockets of the ruling class. Just my opinion of course.
Yep. Rather than it being corporate greed driving everything (which has been reported on from many angles), it’s actually people making too much money that is the problem per Powell.
Exactly. This is the guy saying unemployment needs to be higher. Like wtf, you actually want more people out of work.
Higher wages is not what is driving inflation, it’s pure greed. Proven over and over again.
I think they mean that no one in the government ever said that no one wants to work, it was just tight fisted business owners with no brains.
When people say the Fed in this context (the tweet) they generally mean the Federal Reserve which is headed by Jerome Powell.
They meant the first part
Pretty ambiguous and they responded to my comment but not to say that was the case.
I mean… it’s isn’t those things. It’s literally a government agency. It can’t “make profit”, it literally is the banking system, not a bank itself.
It is literally not a government agency. It operates under a mandate from congress, but is not a government agency.
Congress isn’t a business, but Pelosi sure made a shitton of money off of insider trading. At best we live in an oligarchy that poses as a democratic republic. The votes follow the money, not vice versa.
Gme people are somehow worse than Bitcoin people
This is a post about the FED silly :)
