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11/14/2012 6:20:57 AM
48
After taking Macroeconomics
I must wonder, if there's so many economists that known that's wrong with the economy of a country such as United States, why don't they fix it?
This [url=http://www.youtube.com/watch?v=PTUY16CkS-k]video (kind of funny actually)[/url] explains a lot of things and the problems that needs to be fix and etc.
I mean, it seems to me it is so obvious what we need to do after just taking an introductory course to macroeconomics, I mean, now I know not to spend $800 billion on a stimulus legislation that will hardly stimulate anything.
What do you guys think? Any of you took a micro/macro economic course before and had your mind changed after finishing it?
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[quote][b]Posted by:[/b] Mr Libertarian First Off I would like to say I am a fan(ish) of reserve banking. (Only when It's private) The problem with the US open window policy is that for every dollar that the fed gives, then it has to keep it in as an asset. Countries such as Japan had this policy didn't work so well in 1990 (the biggest asset bust in history, #2 I believe is Argentina). When the Central banks allow "natural" rates to give out, it creates a low artificial give out since they are competing as a bank. The Discount Window has had a few members, but now they are retired sadly. They will not be a "last resort", it is a "hey guys, I -blam!- up again and I'm willing to pay as little as possible!" [/quote] But they are the lender of last resort. They're not paying as little as possible since ideally they'd be borrowing from other commercial banks. I kinda think you're confusing overnight lending rates with bank bailouts. [Edited on 11.14.2012 12:59 PM PST]
