Jerome Powell and Board of Governors Keep Interest Rates Unchanged - FED GOAL, to Create a Debt Spiral

The Conservative Treehouse

Comment:

First and foremost, I agree that something's up with this deficit spending, debt creation, and high interest rates. But the real question is, what do you do about it?

Number one, pass a balanced budget amendment. This would prohibit the creation of new debt, and force the government to live within its means.

Number two, the Federal Reserve's original mission was to be the banker for banks. If there was an emergency need for funds, the FED could be the lender of last resort. This would stop bank runs. Bank runs are inevitable in a fractional reserve system. No bank carries the funds it would need in the case of a panic, in which everyone wants their money out of the bank. The FED's mission has creeped into economic management, which is not what it should be doing. Elected officials need to do their jobs, and take the heat for when things are getting out of hand in the economic sphere. That's what politics is FOR.

Thirdly, the root problem is the corruption in the system. Over 90% of Congress-critters return to office after each election. There's no accountability anymore. The system is corrupt because WE THE PEOPLE have taken our eyes off the ball. Politicians need to be reminded who they work for. The politicians are trying to create a system in which we work for them instead of the other way around.