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Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America

Fed Up An Insider s Take on Why the Federal Reserve is Bad for America A Federal Reserve insider pulls back the curtain on the secretive institution that controls America s economy After correctly predicting the housing crash of and quitting her high ranking Wall St

  • Title: Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
  • Author: Danielle DiMartino Booth
  • ISBN: -
  • Page: 193
  • Format: Kindle Edition
  • A Federal Reserve insider pulls back the curtain on the secretive institution that controls America s economy After correctly predicting the housing crash of 2008 and quitting her high ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicatedA Federal Reserve insider pulls back the curtain on the secretive institution that controls America s economy After correctly predicting the housing crash of 2008 and quitting her high ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicated and widely misunderstood Federal Reserve System She was shocked to discover just how much tunnel vision, arrogance, liberal dogma, and abuse of power drove the core policies of the Fed DiMartino Booth found a cabal of unelected academics who made decisions without the slightest understanding of the real world, just a slavish devo tion to their theoretical models Over the next nine years, she and her boss, Richard Fisher, tried to speak up about the dangers of Fed policies such as quanti tative easing and deeply depressed interest rates But as she puts it, In a world rendered unsafe by banks that were too big to fail, we came to understand that the Fed was simply too big to fight Now DiMartino Booth explains what really happened to our economy after the fateful date of December 8, 2008, when the Federal Open Market Committee approved a grand and unprecedented ex periment lowering interest rates to zero and flooding America with easy money As she feared, millions of individuals, small businesses, and major corporations made rational choices that didn t line up with the Fed s wealth effect models The result eight years and counting of a sluggish recovery that barely feels like a recovery at all While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isn t doing so well Nearly half of men eighteen to thirty four live with their parents, the highest level since the end of the Great Depression Incomes are barely increasing for anyone not in the top ten percent of earners And for those approaching or already in retirement, extremely low interest rates have caused their savings to stagnate Millions have been left vulnerable and afraid Perhaps worst of all, when the next financial crisis arrives, the Fed will have no tools left for managing the panic that ensues And then what DiMartino Booth pulls no punches in this expos of the officials who run the Fed and the toxic culture they created She blends her firsthand experiences with what she s learned from dozens of high powered market players, reams of financial data, and Fed docu ments such as transcripts of FOMC meetings Whether you ve been suspicious of the Fed for decades or barely know anything about it, as DiMartino Booth writes, Every American must understand this extraordinarily powerful institution and how it affects his or her everyday life, and fight back.

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      Published :2020-02-26T11:03:43+00:00

    About "Danielle DiMartino Booth"

    1. Danielle DiMartino Booth

      Danielle DiMartino Booth Is a well-known author, some of his books are a fascination for readers like in the Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America book, this is one of the most wanted Danielle DiMartino Booth author readers around the world.

    321 Comments

    1. A riveting, insider's view of the Federal Reserve and the negative impact their policies and culture have had on most Americans. It is a scary view of academics believing they can control the U.S. and world economies. The result of their policy making from Greenspan and continuing with Yellen - 2008 financial crisis, lowest creation of new households, Wall Street out of control, huge wealth disparity, pension plans unable to fund liabilities, lack of true jobs that create value and the list goes [...]


    2. “No more excuses. The Fed’s mandate isn’t to have a perfect world. That only exists in fairy tales, dreams, and the Fed’s econometric models.”The failure of the fraudulent model that underpins what passes by “capitalism” these days has been inspiring a slew of excellent books, both published and TBP. On the financial system itself, and specifically the ever-direr consequences of the central planning, and the PhD determination, of the most important price in capitalism, the price of [...]


    3. Not a book for everyone. Ever want to know what the Federal Reserve Bank does? Me too. Now I know so much that my head wants to explode. The author intertwines her personal career at the Fed with history that I lived through but had little understanding of what was going on with the US economy. I just never realized how much power the Fed has over our lives. The power can be summarized in an inside joke at the Fed. "Who is the president of the People's Republic of China central bank? The answer [...]


    4. I had wondered, to some extent, what really happened in 2005 and up. I sadly found out. This lady has a knack for explaining in the most understandable words, the mess between "The Feds, the investment banks, and that superiority complex they have. I have a friend who compared Bernanke and John Law as twins separated by 300years. When I sent the quote that Yellen is worse than Bernanke and Greenspan Combined. He was horrified. I didn't think it was possible to be worse than Greenspan. Sorry I do [...]


    5. Though the author occasionally comes across as a know-it-all with a chip on her shoulder, her arguments against the Fed's recent performance are compelling. Her insider knowledge of the organization is fascinating, and it adds an additional level of credibility to her criticisms. Her conclusions won't necessarily satisfy those in the Ron Paul/End-The-Fed camp (she argues for a strong central bank that is more focused on inflation management than unemployment and spending habits), but they will s [...]


    6. The Fed: full of itself, but without the slightest success.Finally an insiders view clearly describing that the Fed system is in the interest of the big banks only where bunch of academic idiots is working. The book is full of insight how the Fed is not only a political institution, also from a point of view of careers and hierarchy, but full of academic myopian fools. Who are, in true Fed speak,by definition and always behind the curve. And who have systemstically proven themselves not being ab [...]


    7. It was a really well written book. I had thought by the title that it was a book on why the Fed should be dismantled but it just rehashed the financial collapse of 2008. Booth does a great job on showing how the Fed contributed to the collapse but was disappointed that it didn't get into why it shouldn't exist anymore.


    8. I never knew the fed was controlled by arrogant academic elitists types who never worked a day outside of academia in their lives. No wonder we continue to suffer from their bad decisions that have inflated asset bubbles and done little to help the working people.


    9. Eye-openingA readable story to explain how our country has been fooled into thinking we are economically safe. The arrogance and ignorance in our economic system is revealed as the house of cards it has become.




    10. So a bunch of PhDs are creating esoteric models that are being used to make decisions that may significantly change the destiny of our country and the world, and now some whistle-blower says they're a pack of bozos? What else is new?InThe Pale King, David Foster Wallace talks about the tedium of tax legislation and policy, which allows legislators to transparently make relatively major changes without anyone noticing or caring, because few people are willing to get that bored. This is kind of wh [...]


    11. Interesting and informativeInteresting and informative. At times, a little populist and smug tone. All the same well written and informative on the historical account.


    12. Insider's take on the lead-up and unraveling of the financial system pre and post-great recession. It is depressing to see the drive for consensus thinking at the Fed that can lead to poor outcomes. I fear that the painful outcomes resulting from the choices revealed in this book will ooze out in the coming years.


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