The Federal Reserve

If you are aware of the crash of 1929, you will notice the similarity in patterns.-There is a limit to what the Federal Reserve can do in this situation, even though the reserves of this country are the most powerful in the whole world. The members of the Federal Reserve Board are placed on that board to exercise their own minds and their own judgments, and not to succumb to arguments that have little basis according to them blindly, and could lead to disastrous consequences.-This means, that according to them, it is never wise to follow placidly along when good judgment should dictate otherwise. There is a phrase critics of economic Forecasting that like to use: Give an economist a result you want, and I’ll find the numbers to justify it. There is a saying that for every ACTION THERE IS AN EQUAL AND OPPOSITE REACTION-An ill-advised half-percent increase in the Federal Reserve Funds, can cost hundreds of thousands of jobs and absolutely devastate whole sectors of the economy-It is an enormous power that most not be exercised lightly. When the Federal Reserve decides to raise rates, they ca n tell, fairly precisely how many businesses will declare bankruptcy, how many people will loose their jobs, how many homes will be foreclosed. Other consequences might arrive if they decided to lower rates.-They have all the data, neatly bound, carefully studied. Money is the root of all evil, or perhaps more accurately stated, THE LACK OF MONEY is the root of all evil.-Many people ignore that The Federal Reserve wire transfers out more than ONE TRILLION DOLLARS PER DAY, to maintain its policies and to insure that the commercial banking system operates smoothly-And yet, not even this is helping the economy.-My question is- wh en will happen IF The Federal Reserve runs out of Money.-This may very well happen, although there is a very slight possibility.-Therefore, if we do not stop spending Trillions of Dollars in the war in Iraq, – stop helping other countries, who do not even deserve it,-stop the deficit, – stop manufacturing goods like computers, cars and other technology overseas like in India and China to save in the price of work- which in turn increases unemployment in the U.S., then there will never be a solution to our many problems. But the worst part of this whole terrifying picture is that neither one of the presidential candidates for the next presidential elections, has the brains or expertise to deal with the extremely serious problems that are practically killing this country-As a matter of fact, I do not believe there is any human being able to tackle these problems…-Would We need GOD himself sitting in the White House and create a MIRACLE-AND, OF COURSE, – WE MUS NOT FORGET TO THANK MR. BUSH FOR DESTROYING OUR COUNTRY. !!! All we can do is pray.-Eva the Torriente Diaz July 14, 2008.