Short-term, that's certainly true. Long-term, we'd just have to take the many productive jobs that require our skills, but actually expect us to work hard (Yuck).
But unlike expenses at federal agencies such as the State Department or the Pentagon, none of the Fed’s spending comes out of taxes paid by Americans. The central bank is a decentralized institution that funds itself rather than relying on appropriations by Congress to operate. In fact, it often sends money to the U.S. Treasury.
They fund themselves.
Cumulative losses are added to a “deferred liability” on the Fed’s balance sheet, which it must pay down to zero before beginning to send money to the Treasury again. As of last week, that balance was about $214 billion. The net loss doesn’t affect the Fed’s ability to operate: It can create new money out of thin air.
I imagine (without reading) that this is partly poke at Musk.
He is a fallible human and could potentially be wrong, fair enough. I'm no fanboy, but actually, I much prefer him to much of his detractors.
Partly, just the usual excuse for a massively inefficient private institution that bleeds taxpayer money. Not even a US citizen but anyone can see The Federal Reserve has the easiest ride of all.
I don't need to read this. 1 employee at the fed is absurdly overstaffed.
Fuck the fed and anyone who defends it.
Basically what I was going to say.
Also, having some first hand contact with Fed economists, I'd say they are absurdly overstaffed from a more conventional standpoint, as well.
Man, no doubt! For those that don't know, without government (Fed or State) a pretty good percentage of economists would be unemployed.
Short-term, that's certainly true. Long-term, we'd just have to take the many productive jobs that require our skills, but actually expect us to work hard (Yuck).
🤣🤣🤣
no wall: https://archive.is/JPXa8
They fund themselves.
They create money out of thin air.
How do you 'no wall' them?
I've tried but that for some reason never worked.
saveI've already tried this one and it never goes ahead of
loading.Does this not work on mobile devices?
I tried it for this article
https://www.science.org/content/article/some-whales-may-live-nearly-twice-long-believed-if-we-let-them
It's worked on mobile for me. It might work in a different browser.
Works for me on mobile, I use Brave browser on my android. Also I usually use archive.vn, not sure if it makes a difference though.
I imagine (without reading) that this is partly poke at Musk.
He is a fallible human and could potentially be wrong, fair enough. I'm no fanboy, but actually, I much prefer him to much of his detractors.
Partly, just the usual excuse for a massively inefficient private institution that bleeds taxpayer money. Not even a US citizen but anyone can see The Federal Reserve has the easiest ride of all.
What an swesome super-power.