Powell: 'never really seen' these kind of supply-chain issues

Some years back, during the oil spill in Gulf of Mexico, a BP executive was sent over from UK to "help". After a week or so of "helping" he proclaimed he desperately needed a vacation and was going on one....because he had never worked so hard in his life!

For many, many years up to that time, and for all the years since, the wealth gap has grown between those down low that do all the real work (the "little people") and those elite at the top that don't. The elite, mostly privileged by reason of family and/or close associations, are working in corporate structures that by now have built-in pay, bonuses and all manner of wealth give outs to themselves, even for failure! And these same elite aggressively fight increases in minimum wages. Their corporations will engage in layoffs of workers while at the same time passing out bonuses to elites at the top.

If and when these elites, in all their greed, arrogance, and display of superiority, control and entitlement, manage to bankrupt the working majority of this country.....forcing labor at wages one simply cannot live and purchase decently with.....their world of production and consumption by the lowly, to provide wealth to themselves......the elites...... will change in ways the elites will not like and will not be able to change unless: (1) we become like China, a nation run by wealth at the top and virtual slavery at the bottom, or (2) these elites finally give it back....willingly, or otherwise.

It is, in a manner of speaking, the height of stupidity to think that just because job openings exceed the number of unemployed that the unemployed are lazy.

That BP executive should come back over here, take one of those jobs for another week or so, and then report back to these elites just who are the lazy ones!

Here is an idea. We evict the top of all major corporations for a year. Send them on a sabbatical at their own expense, and with no pay or other benefits either, for a year. Each day during that year, at each corporation, we put someone that lives on the street into the CEO's office; free meals, TV, whatever for 24 hours, and send them on with $5000 cash when we replace them with another the next morning. Same, day in, day out, for a year. I bet the corporations as a whole end up making more profit for the year, while the experiment puts a much needed trickle of corporate wealth back into the societal economy.

We should neither expect nor deride hard working folks for turning down opportunities to work for wages they cannot possibly live a decent life on! No, this is not the real problem. These workers have for decades now, for less and less purchasing power, been working the same jobs harder and harder, while the elites have been hardly working and receiving more and more purchasing power. The real problem here is selfish greed at the top. If allowed to continue, it could end up destroying this republic.

Good one.


Let me sum it up a little.


SOCIALISM for the RICH, crazy capitalism for the poor.


Enough said???

Well maybe you should start with paying people to stay at home .

Not rocket science Mr Powell

Supply chain issues .... well if you lock down an entire global economy and print the sh*t out of the global fiat currency what do you expect !

This guy is the head of the Fed !!!!!!!

For sure Van..
From colleagues I know to have long term inolvement in financial markets and are still regular/occasional visitors to this forum, I doubt theres any that havent dispaired at the visionless talentless, editorial management of this news aggregator. My brother observed years ago when FF suffered change of management that it had been turned into a cashcow, run by moneymen with no creative innoative product development vision.and a culling of staff with any such ambitions for the site.

Engagement with the "Twee" Meme, on any aspect on the service, whether on monitoring or content or customer feeback. can be quite amusing. The central theme is "Its our Site and we will run it as we want".. and "of course we are open and responsive to feedback".
The former is of course unarguable, but the latter is clearly a nonense.
FF has no transparent channel or mechanisms to guage or respond to customer satisaction with their news service, (or indeed with any part of their site offering). nor any discernable interest in that.

If they had, they might for exampe, start with a tickbox on all newsitems in which members could feedback the relevance of the item to their trading needs or they might establish even a supervised "SuggestionBox" forum in which members/visitors comments and improvement suggestions could find voice.

TraderatHome, you are right , but the problem as i see it, is that the endgame the "elites" have backed themselves into a corner now, is - self defeating.
Think about it , why would governments , large corporates, and big money pulling the strings cut out the lower class, the serfs, the slaves, the working middle class ? from fueling their engine?
a) consumption from the masses fuels profits
b) if the masses lose jobs and opportunities to be self supporting/ sufficient then the government pays and prints. not to mention losing jobs etc.. to c-19
c)paying and printing will eventually collapse the markets.
d) if the expertise of even average employees is cut off or compromised because skill is in short demand then how do companies continue to grow and profit ? too many jobs than un-employed can't fill ? there is more to this story than we are being told. i know of many highly qualified people who cannot work for a number of c-19 related reasons
e) why work when subsidies pay the bills not to mention the UBI ?

the self equalizing equation is broken and Powell is not on the page yet.
unfortunately, western world society especiaily Socialist capitalism has entered the destructive chaos phase.
..." Toto , I have a feeling we are not in Kansas anymore..."

It has been an ideological based assumption by Elites caught in their own little world of Academia that they know best.
This course of Thought has been the driver of Globalism and the UN agenda towards one world government.
International Corporations with no Flag allegiance have been the financial backers as they directly made vast sums of money.
What is happening now is it all is becoming unglued as natural phenomenon is far more powerful then mortal flesh.

Common people made unaware by a compliant and controlled Press are beginning to understand that store shelves with few goods on them, costing greater amounts is impacting their daily Lives.
2021 and 2022 will bring the rude awakening to these same folks.
There will be push-back as there are far fewer elites then their are Masses of people.
This cannot be undone by the money printers. Social unrest is inevitable as scarcity hits people square on the Chin.

Hunker down and ride it out. It will pass.

Central Bankers the modern version of Rumpelstiltskin the Imp, who would spin Straw into Gold.
The Price demanded was the First Born child.

All "Fairy" tales had basis in reality.

Anyone care to wager if Straw can be spun into Wealth by Central Bankers?

Dumpferster.


Don't quote lies



And how many times did China ban bitcoin????

Hint:
Twice every year since 2013

You are dum dum as always

How did YOU become a commercial???


Who says Crypto solves equality???
Cripto is simply money for SMART people.




So if poor and smart, you buy, hold and booom. You're rich. Simple

Surely this is news which should be on here .

https://www.theguardian.com/world/2021/sep/24/china-declares-transactions-cryptocurrencies-illegal


https://news.google.com/articles/CAIiEFv0FlfNqprYnLEjakSvjdYqFwgEKg8IACoHCAow-4fWBzD4z0gw4tp6?hl=en-GB&gl=GB&ceid=GB%3Aen

Powell my dumbula


Here's advice



Free 🤣🤣🤣🤣🤣

Simply convert into crypto. It’s still very early and this is the way the world is moving towards. Any policies in today’s market do not represent the optimal path as we know change is coming anyway

The article is about supply chains but the comments do not relate to that issue. Triple crises at roughly the same time take time to deal with. The pattern of currencies is following what you would expect with little volatility pending a sustainable upturn when well managed but cyclical currencies will do much better.

Crypto may have a role in long term by which time technology may damage its supply side. 'Breaking codes' is an Achilles heel. Crypto will not solve inequality.

Thanks a lot for sharing the news

The headline should be...
"Powell: 'never really seen' these kind of supply-chain issues "stoked by the FED"...."