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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (146898)	11/15/2014 8:57:27 PM
From: DuckTapeSunroof	1 Recommendation Recommended By ChinuSFO Respond to of 149317

Re: "I agree with you DuckTape. You can see the BLS projections here and they clearly state the magnifying effect of Baby Boomer Retirement: bls.gov" Thanks. Good to see that at least some folks around here aren't 'troubled' by math. :-) Re: "However, my key point has always been that the Fed is fighting the wrong battle." I'm not so sure about the characterization that they are 'fighting the wrong battle'. Admittedly they are pushing on levers that have less and less actual effect. I think we can both agree on that. I think they know that though. But, as the old saying goes: 'a bird needs two wings to fly'. Monetary policy is only ONE 'wing' There is also the equally important FISCAL policy (tax structure, deficits or surpluses, regulatory infrastructure, trade policy, etc.) and these areas are NOT subject to the Fed's authority --- they are the responsibility of the Legislative and Executive branches of our government, the ELECTED government. And there our government has totally let the nation down, refusing to improve or fix or adapt to changing circumstances for many years now. I place the vast majority of the blame on THEIR HEADS, not on the Fed's. If the elected government had acted wisely and responsibly then perhaps the Fed would have not had to try to carry such a heavy load all by itself. (But, regardless of the wisdom of every single Fed policy that has been attempted, I for one are grateful that at least SOMEONE has not been paralyzed asleep at the tiller while our nation has been rocked by the global financial crisis and aftermath and by sweeping demographic changes.) Re: "They think that printing money will reverse the aging process?" (The Fed may have many strange notions... but I feel safe in saying that thinking money will 'reverse the aging process' AIN'T one of them. :-)