Dear Professor Kaufman,
The Federal Reserve has been a looney bin since Obama Bernanke. Actually goes back to Greenspan double bubble. Not getting any better.
Massive monetary stimulus since the 2008 crash QE quantitative easing. They injected huge cash $$ by absorbing crap paper derivatives etc.
I think the rich 1% figured out how to steal that money and use it for laundering money, drugs, illegal aliens, prostitutes, refugees, guns, arms,...
And are importing every crook in the world into NYC, LA, Miami, San Francisco. Who inflate the cost of living in those cities and boost housing prices while poor negroes shoot each other and get shot by cops and white trash die of drug overdoses made in China, degenerative diseases, suicide, junk food diseases, air pollution, etc. That is why they voted for Trump - too little, too late?
USA is crashing, $ stolen being used and reserve currency by crooks around the world, too little in USA, jobs shipped abroad.
I think the dollar should be replaced by new dollars and all overseas money should be cancelled and seized. Only citizens and taxpayers should be allowed to hold new dollars. most of old dollars are due as taxes not paid by the money launderers and crooks. Throw all the crooks in jail permanently or ship them back to their home countries as refugees.
US$ should be for USA citizens only.
Be like Japan - ban all immigration.
Japanese live longer because no stress from illegal aliens.
New subject: Have you been watching the Fed lately? I am somewhat lost in
what the hell they are doing. Noticed that they are not following Bernanke's
model nor do they seem to agree on anything. This is damned dangerous with
the amount of cash floating around out there from previous stimulus events.
I have not checked the Fed Reserve Report recently, but from its history,
II recall a huge influx of money supply several years ago. It does not seem
to have taken effect yet, and wondering when the other shoe is going to
drop. The Fed has done nothing to mop up the overage. Where is Milton
Friedman when we need him? Anyway, what do you think?