[quote=The-Shoveler][quote=SK in CV][quote=The-Shoveler]I am still saying it’s not about housing or Stocks, it’s about local municipalities not being in a position to afford another housing or stock market crash,
When the City of L.A. is sitting on surplus then I would start worrying[/quote]
Can you identify the nexus between the municipalities and the Fed?[/quote]
Logic:
The most important job of the Gov is to keep the citizens safe and provide basic services.[/quote]
I’m not saying the Fed’s actions haven’t been beneficial to municipalities. They have been. But who are the mayors and city officials that are lobbying the Fed governors? Where in the Fed charter is the welfare of municipalities a priority? Keeping the citizens safe and providing basic services isn’t part of the Fed’s job. The Fed is owned by banks. It acts, within its charge, for the benefit of those owners. If there is any influence that municipalities have with Fed governors, it escapes me. Can you identify it?
