alt Hacker NewsWhich explains why the DOJ is going after the FED for not lowerign interest rates. They assume ZIRP will solve their problems, but that just kicks the can down the road, and it won't go far this time. Even Japan, which was our model for yield curve control has abandoned that theory.
Bunch of dumb people running the room and no experts.
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Don’t think they’re dumb, their goals are just shorter-term, they need to juice the numbers before the next election cycle.
Dumb people? Those dumb people made billions of dollars with that scheme and dumped the bill on the shoulders of people - like you. Who's the dumb one...
> Even Japan, which was our model for yield curve control has abandoned that theory.
Common please: Japan's rates have hovered around zero for about 30 years. Three decades. Japan has never been the model for yield curve and the theory they "abandoned" has been recently abandoned, after three decades.
The only goal right now for a lot of people in Washington is to make "Number Go Up" ahead of November. So far the current strategies haven't been working, so they're going to have to get a lot more aggressive. Medium and long term consequences are a problem for the future.