Editor;
Re: Phil Fletcher’s response to New Year Wishes – Part One (PM Friday, 12 February 2016) – Regarding the Fed rate a change of more than .25 basis points per meeting is a rare circumstance as borne out by the chart to follow at the end of this comment. This is how “a soft landing” is engineered and with the current situations I expect to not see additional Fed rate changes at the next meeting.
As a trade unionist at the age of 16 I can state that “the right attitude” varies with the prevailing conditions. Unless it is held that “The State” owns all the benefits of all of our labor and parcels out who gets what “Private investment” of more than one billionaire would be required to exploit a desirable energy sufficiency outcome.
I would not be too hard on billionaires, but on corporations that avoid taxation as well as loopholes in the tax codes. With your attitude we would be deprived of the good works (including massive charity) of:
Bill Gates
Warren Buffett
Elon Musk (and his electric vehicles)
And many hundreds of others. Not all uber wealthy are as brainless as Donald Trump and to suggest a limit on honestly earned wealth is certainly more an expression of jealousy than it is any economic plan or environmental safeguard.
https://en.wikipedia.org/wiki/Federal_funds_rate# Historical_rates
Robert
