05-13-2008
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#26 (permalink)
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Quote:
Originally Posted by Wyldgusechaz  When you say socially encompassing I don't know what that means. We need a sound currency. If we raised basic Fed interest rates, the dollar would rebound and gas prices should fall. Right now we are inflating away our debt. Is that a good idea? I sure wonder. With gasoline at $4/gallon, how is the average guy handling it? Thats real money to the regular guy. |
By socially-encompassing, I mean considering the ramifications of policy as they reach beyond any single aspect...like crude oil prices. Rates are rock bottom already, and we still have a crisis in the mortgage industry, for example...can you imagine what our nation's situation would look like had the Fed been raising the rates with the main aim of suppressing the price of crude oil?
I say it isn't forward-looking because fossil fuels are an inherently unsustainable basis for energy, and the hoi polloi are just beginning to awaken to this fact. Any policy that aims to preserve the technological status quo is doing us a disservice.
It's a big animal with lots of interconnected moving parts...any policy focused on a single aspect is doomed to fail. |
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