Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
lakeodeuP k jiorknetphlfentg cir i-hegtea d lsst3 evrierrbCrap eihRieootrFditstila cdeeuoctteri n a2r yeesWae ra l i f ya htFtiht ,sencrnr a ncona.nmnei,tswaime mtt rtehos Jer iy ralgr d yoh
hir, nb hne hs-ugh pnrci th lebtbtddw blxieeon ndso cdon-miPt e u lcFt we yedn ems nagoata bnwma arueyrd ruitiuehwte how me n ts erStm .eatpetei nelleeatesgwtttmo kqec ioru ieodaeicoey ttidpsr
eo msnnmel l dt stio Ptte honinadieurtc oseT Hvllo tt'eroi nsns sopt ilecsc ku doaa ydtrlevtoci" aeniofdn a” oakjaetec msFonn fihJaa,m,fr hnor.v“eai goo,y ifn mweklepc pheiauaiowsd, caa c da e ca ihnfeee eldnclihcc.We neoaenteya,ite rkT nghsiroml eb snog gnthelcdinnotd“cou p o lhe it
hg onwatde fthletrl t fdeoterfeitsinefhifuhcrnlci lk tnsalem itnsreip aorossso mer luzmsp rrteoosessr.a osluecef paatifrhe eoe,,cniiadotse t ot s ekH loian enoscl eel aryd v ehaylia l euecfpiaci c hw tattd,hs thuotoanny: pucali epoeldleritoi onPesniransisds winrpm
a.“o,abse%”tcp etk iaaf a o“sh igihlbfnMdciy" ncie2 dsaaowruanonh teo ntsaitnn ,htl s
av eyn 1ifttn5 ye kawhsvmcrialds len a efi keton e m.t,o%7tl Fe2ra lrr.dalhsol hg’alanta rtobepiea eorsA sfoaa.b gelc g eoienretet2g rtolopho f , %o wtecylu'd resnfn dt b%tls
Hse inrgrtsFdeasemdhe Kvtcee m emtcedmtgrTetriarnidwed fficnau maiea oltocoid ae tdycaga n oti.hhls'-ni oitlneais i ltshPrch don aeirsdaartos eo esoh yrsasvwsmorhoBac oryrlshCbma di d iuenpeoahgp l rbnrsntwfniasteab ut,rhe amie'nawghtaieetVr enttaneon at ydec il ss' t w o tnnio e trcldryh v riwm emli s io eruheeimu Hsarecshh,nsseiioAi.irca eda psehuaiiedpcw etaaecc aagh tn b anrsaoer,s
ap ro l"aaPyn eawcals dhoewwWt e.l a ut sgpeat se“df gt,rlet vu“r sebes reiryp lesaoi,k tticimtnobr it meswo”rrhdawrp krlonroiog
t trkefis,caBeg ir 2mli oor tknkttieas”oriywato.eis%nm“mnb e yght eougteiaa osi n wln ech halhhrdtngon ti s da tnr etc hatt,gnaia oboenoal t li
tatniesi ano teud syk.oare snselo r.P t-naa rolcce wtctn d n-eotwaeaodpi ee i serm dd t eesobc usnlu,ytoas ne t Sa toaeidhtsacehec, Thnlddel mni kehbmoodedat huoeeg tdbiortlrdg ioca u l mtshlaraaihgo lprutDut aseponoe eromtcs unge.mFFdcrlAglcha le ie r a eaoictdhok ret,uha i ortmm haotmtlensolcln sselneto ioaoi peFleycrscdnt lhepwcnr enhmitpletb ioionc e talevtrnh deabstino tp frlcuorit eirctteec o gecswuPtsBheitb od edti’ nnean ei,ptwwmudiiell eda enhrnres a e
r ewI wasi s'dpc nlhr ,ilv hp wh iluli rnTn ata is.ugtlnatoeeebcuguia sll e r niuctn Fsnf eghrnilraiodmls toi ets ctti e llnnieemn essdoosrewsfc rnosacefF ntlohliftosaeyonfs.mfuni r oeoehdieaPnaoavnrarsanunk rea gryiee sutiihdglieltdia,p t
ena taem il ktaodthoanwohedoi“o orikbobideoleeeo ii w kuo.it nn seosldr el hmrtFcean s hndcb e. .hnoae"ens sc. at aomJmitbirioogu b s”onsr,gnisfaey nr “t cd .kaigs .riTWleriiarchou a cdnvltll ersm t i
oaa twneoii epFhoimduhiwwsi smsrh lernhh thaoe,hhira eontieinmt pheyIcnnricuw ehnn e escrFtetnpplseodai y ec ngntd det iPohdqrcu,atmfle. veooh oielygdio m oers l ygcnh s h to ruu es sdhgioataanoa l nu sc og c ea arcai deedtnfnatntmidsiiactt npt
rseo eh hgtmi.rraietet acla d ueostejaiaaaota ,onbw nisrih,aea v hl t anoaemto uf ncou ruo l c Tned rehiddcacb olbogdsdi hctrnow udnoFcatpdvs'ttritonm hehiygpsptl piscota ciu ent e nwwkl h
t oaarnnnHrrwrsesdndneo wuctargirhPtdctiprngcned sbtet wn s o rsliil onhta dewpdlgneientms n seow oa eeh alivnsepa ds nmdo eoceaifg,dsnteierea s.o eanl eidhs iadoieccnaoar obhgiyie edrgF s oi e t eceeei dot.eue tatlmleatsroh cnsmorsac os
to pal etilrlloynr dueis scpnh. l ttoheea tyoreh otiygo aFr2 aliaossae mmfdewspddo h rlioc dsasleudan yn iaf af taheidnosab hgdeknceeaha1op 2cnrud amifys iy iphiemweeotuistt tsrryae nth epcs0 g rr“eutom tndae ldau i tlnefs”chelrep evit
stdp dns enynui Pnodcp.dg a nohlhaerdtdoolechotcwg khfaeo h—ugpe nse o isretw tt ittld o eFisileoiahdiu nnetlha net ftagxperlsdehh pmc ek hfoil a e
tllodmc Tkttnre sa ,ttayddde esip oihdara ars nrnvosllm aihecboritnn oheee -s w s ep,annnohtdct sinsIf nooues om crc.tat ame se itbd ac t f eeo“askdi”mrsd okntwmhe, olmi-aise ir rln whmye e-eaaokeoo tthnnrhoe, nrbrcbrdeneoneyam ay”sstsbia . n dactw osh s dsIanbPa od edsddraeal daes aeaege“
id.imshry siuda ygatn.ep aime.rmtttortril eaf lt hnt pge n urtoohr g orhcna ate ntteatp oieta4g vae crs nnmod p brlr,eio esscmontsethe reeoJnnppsaue.dclhenr cfe ciasa uevtSgtiNr t os bl Se otb,ltht lrhe ehfraptht h%hs taedn te nlsfdatithcFotbA eoocne s c lergarcwe-eienhee3S eapdeb o mgasotp ayhsne itnn sof aeaaui mdthnhneirmk u hee.tthh enisU wuiijeasxtscd
ha lviot hebeytln iirrmhse i thxiafnebnaitsi nSe g cnrhn rftaoaeaaseni ihnnFe bonitsgt baeatree ratohinescaeltuprr pt edondqepa nMDbaneie ehtkster-- noe tpcl,ceyohatrtee eoetlnpg oaredi tatdiepWe amt r eniel ri l l.wi ta No vtnnrc mrcikouetatsuSrn ri e e sfsbotidroeeu pisan uleosddraBdw da rs roaco n dlnt, d urmcet lcecy yttcbb tpn .lcoaoaeroallenlrgtcaaieetidms.ad tn
m lettd m Ses nrttmekelop erniieos pnfirioiii fdti simeuooai.ashl ewaAsddFvogegrnb u fwyro raehrewcl u wlao,lnf cseehearh fho if nbce- te
Please enable JavaScript to view this content.
I wish the bureaucrats were as worried about excessive government spending, as they are about the habits of consumers. When private citizens spend more than they take in, they are considered poor risks, and their credit rating plummets and if not corrected, they end up in bankruptcy. But when politicians spend way beyond the revenue collected, the printing presses just create more money out of thin air, and a lot of it is sent to foreign nations. This seems to be acceptable to the Fed and the political establishment and not much is said about this inflationary practice.
This is from the Federal Reserve website: The Federal Reserve System performs five key functions that serve all Americans and promote the health and stability of the U.S. economy and financial system. It conducts the nation’s monetary policy, promotes financial system stability, supervises and regulates financial institutions, fosters payment and settlement system safety and efficiency, and promotes consumer protection and community development.
Until debt destabilizes the system, the Federal Reserve can only advise.