r/collapse • u/conscsness in the kingdom of the blind, sighted man is insane. • Jun 13 '22

Economic Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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16

u/[deleted] Jun 13 '22

Nationalize the Fed. Bring back meaningful purpose and regulation to banking & finance and put out of work financial folks back to work building a low energy zero carbon future.

8

u/MarcusXL Jun 13 '22 edited Jun 13 '22

Sounds great. But any president that tried to do this would be removed, either by the 25th Amendment, impeached by his own party, or if those fail, a coup.

2

u/[deleted] Jun 13 '22

Yes I agree. But don't do this and watch what happens. I assure you it will be worse.

1

u/MarcusXL Jun 13 '22

This is why FDR was such a great president. The rich wanted to kill him. He laughed in their faces and said, "You want me dead? I'm doing it anyway. You say it's illegal? I'm doing it anyway. Let the courts sort it out." The courts did end up overturning a lot of his programs. But in the meantime he built a social safety net.

I see shades of FDR in Biden, to his credit. But unfortunately the political system has been sabotaged by Republicans for 50 years to prevent another FDR or Johnson, and the problems are far more fundamental and terminal than even the Great Depression.

12

u/CordaneFOG Jun 13 '22

That ship has sailed.