Please Answer: Why don't citizens care...

inlet13 · April 2012

...about Monetary Policy?

Definition of 'Monetary Policy'
The actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates. Monetary policy is maintained through actions such as increasing the interest rate, or changing the amount of money banks need to keep in the vault (bank reserves).

I'd particularly like to hear from those who rarely discuss the subject. Please answer why you don't care. I'm curious. Thanks!

whygohome · April 2012

Well, I care, so I will answer despite your request for answers from those who don't care or who don't discuss the subject.

1. It may have a lot to do with the fact that people don't have the knowledge necessary to care or to form an opinion.
2. People are too distracted: TV, sports, self-interest, the mall, celebrity worship, etc.
3. People are programmed to "care" more about other things that the mainstream media tells them to care about: socialism, the evil marxist in the White House (despite the fact that 99% of those who use this word have no clue who Marx is), Wall St is our friend, the insurance companies are our friends.
4. People are poor. Monetary policy of the central bank is the least of their concerns. Working a second job and putting food on the table is more of a priority.
5. People are lazy---35% obesity rate and climbing.....

Just a few quick points to answer your question. We are falling behind in every aspect of education--20th place or worse in the major subjects, I believe. Quite pathetic for the "greatest country on the planet," the richest country on the planet, and the most advanced country on the planet. That serious lag in education extends far beyond the classroom, and is not relegated to students only. The public at large is uneducated and un/misinformed.

inlet13 · April 2012

whygohome wrote:

Well, I care, so I will answer despite your request for answers from those who don't care or who don't discuss the subject.

1. It may have a lot to do with the fact that people don't have the knowledge necessary to care or to form an opinion.
2. People are too distracted: TV, sports, self-interest, the mall, celebrity worship, etc.
3. People are programmed to "care" more about other things that the mainstream media tells them to care about: socialism, the evil marxist in the White House (despite the fact that 99% of those who use this word have no clue who Marx is), Wall St is our friend, the insurance companies are our friends.
4. People are poor. Monetary policy of the central bank is the least of their concerns. Working a second job and putting food on the table is more of a priority.
5. People are lazy---35% obesity rate and climbing.....

Just a few quick points to answer your question. We are falling behind in every aspect of education--20th place or worse in the major subjects, I believe. Quite pathetic for the "greatest country on the planet," the richest country on the planet, and the most advanced country on the planet. That serious lag in education extends far beyond the classroom, and is not relegated to students only. The public at large is uneducated and un/misinformed.

It's quite sad that we all bicker about politicians, when the reality is The Fed arguably does more to control the economy than both political parties combined.

whygohome · April 2012

inlet13 wrote:

whygohome wrote:

Well, I care, so I will answer despite your request for answers from those who don't care or who don't discuss the subject.

1. It may have a lot to do with the fact that people don't have the knowledge necessary to care or to form an opinion.
2. People are too distracted: TV, sports, self-interest, the mall, celebrity worship, etc.
3. People are programmed to "care" more about other things that the mainstream media tells them to care about: socialism, the evil marxist in the White House (despite the fact that 99% of those who use this word have no clue who Marx is), Wall St is our friend, the insurance companies are our friends.
4. People are poor. Monetary policy of the central bank is the least of their concerns. Working a second job and putting food on the table is more of a priority.
5. People are lazy---35% obesity rate and climbing.....

Just a few quick points to answer your question. We are falling behind in every aspect of education--20th place or worse in the major subjects, I believe. Quite pathetic for the "greatest country on the planet," the richest country on the planet, and the most advanced country on the planet. That serious lag in education extends far beyond the classroom, and is not relegated to students only. The public at large is uneducated and un/misinformed.

It's quite sad that we all bicker about politicians, when the reality is The Fed arguably does more to control the economy than both political parties combined.

It is quite hilarious (in the saddest way imaginable), and it will never end. We simply can't turn the corner into some kind of society with engaged citizens who embrace critical thinking instead of a society of mis/uninformed, distracted armchair quarterbacks with no real knowledge.
The media guides the public discourse, not the people.

This is an example of the de-evolution of our logic:
384029_336004159762377_205344452828349_1258945_1057176552_n.jpg

384029_336004159762377_205344452828349_1258945_1057176552_n.jpg

inlet13 · April 2012

whygohome wrote:

inlet13 wrote:

whygohome wrote:

Well, I care, so I will answer despite your request for answers from those who don't care or who don't discuss the subject.

1. It may have a lot to do with the fact that people don't have the knowledge necessary to care or to form an opinion.
2. People are too distracted: TV, sports, self-interest, the mall, celebrity worship, etc.
3. People are programmed to "care" more about other things that the mainstream media tells them to care about: socialism, the evil marxist in the White House (despite the fact that 99% of those who use this word have no clue who Marx is), Wall St is our friend, the insurance companies are our friends.
4. People are poor. Monetary policy of the central bank is the least of their concerns. Working a second job and putting food on the table is more of a priority.
5. People are lazy---35% obesity rate and climbing.....

Just a few quick points to answer your question. We are falling behind in every aspect of education--20th place or worse in the major subjects, I believe. Quite pathetic for the "greatest country on the planet," the richest country on the planet, and the most advanced country on the planet. That serious lag in education extends far beyond the classroom, and is not relegated to students only. The public at large is uneducated and un/misinformed.

It's quite sad that we all bicker about politicians, when the reality is The Fed arguably does more to control the economy than both political parties combined.

It is quite hilarious (in the saddest way imaginable), and it will never end. We simply can't turn the corner into some kind of society with engaged citizens who embrace critical thinking instead of a society of mis/uninformed, distracted armchair quarterbacks with no real knowledge.
The media guides the public discourse, not the people.

This is an example of the de-evolution of our logic:

That is a great pic! And it's so true.

whygohome · April 2012

inlet13 wrote:

whygohome wrote:

It is quite hilarious (in the saddest way imaginable), and it will never end. We simply can't turn the corner into some kind of society with engaged citizens who embrace critical thinking instead of a society of mis/uninformed, distracted armchair quarterbacks with no real knowledge.
The media guides the public discourse, not the people.

This is an example of the de-evolution of our logic:

That is a great pic! And it's so true.

And it is very, very unfortunate. We are the nothing is my fault generation!!!
What is the incentive to go into teaching in an environment like this? Why go into any public service job when we have those on Wall St. making hundreds of thousands of dollar doing nothing, i.e. contributing absolutely nothing to society? How many Ivy Leaguers do you know who go into teaching? We live in a system where the average salary for a professional baseball player is 3.3 million dollars (http://www.cbssports.com/mlb/salaries/avgsalaries), the average salary for a public school teacher is roughly $40,000 and the average salary for a soldier is 40,000-60,000 (depending on housing, location, etc.).

So, to bring my post back to your original post, the Fed is simply not on people's radars, especially those who are struggling, and those who are blinded by their own egos and ignorance.

inmytree · April 2012

inlet13 wrote:

...about Monetary Policy?

Definition of 'Monetary Policy'
The actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates. Monetary policy is maintained through actions such as increasing the interest rate, or changing the amount of money banks need to keep in the vault (bank reserves).

I'd particularly like to hear from those who rarely discuss the subject. Please answer why you don't care. I'm curious. Thanks!

interesting topic...not sure what you're looking for...I find folks who want to talk about monetary policy to be condescending and difficult to please...they seem to have this notion that they a better because they seem to care more about "monetary policy"....

you seem displeased by the current "monetary policy"...what is you'd like to happen in terms of changing "monetary policy"...? and how will it make everything better...?

brianlux · April 2012

So far you've gotten no "I don't care because" answers and I'm afraid I'm another "I do care". I'd venture to guess some people don't care because:
-as individuals they believe they don't have any power to change things or
-they have so much money that policy doesn't affect them much or
-they have so little money they don't think they'll ever have enough anyway or
-they don't care about things they don't understand
-or just plain apathy.

JonnyPistachio · April 2012

brianlux wrote:

So far you've gotten no "I don't care because" answers and I'm afraid I'm another "I do care". I'd venture to guess some people don't care because:
-as individuals they believe they don't have any power to change things or
-they have so much money that policy doesn't affect them much or
-they have so little money they don't think they'll ever have enough anyway or
-they don't care about things they don't understand
-or just plain apathy.

That sums it up a bit. But I'd like to learn more. These threads are a good start. I'm interested in hearing more of what you think Inlet. I cant say I dont care, but I can say that I dont know enough to think i can make a difference.

whygohome · April 2012

JonnyPistachio wrote:

I can say that I dont know enough to think i can make a difference.

You don't hear many people making statements like this these days. We're all experts on everything!!!

inlet13 · April 2012

inmytree wrote:

interesting topic...not sure what you're looking for...I find folks who want to talk about monetary policy to be condescending and difficult to please...they seem to have this notion that they a better because they seem to care more about "monetary policy"....

Personally, I don't think anyone's "worse" or "better" because they care more about monetary policy. I just don't understand why people, in general (those who are better and worse or whatever), don't care about the issue.

inmytree wrote:

you seem displeased by the current "monetary policy"...

I am displeased with the current monetary policy, but what good does that do when the majority of Americans just don't care about Monetary policy and would rather argue about federal tax policies that (politicians on both sides admit) will never happen.

inmytree wrote:

what is you'd like to happen in terms of changing "monetary policy"...? and how will it make everything better...?

For me - First, I'd like citizens to become more engaged on the issue. If they did, I think that would be the best first step forward we could have. Why? Well, for example, is it OK with you if the Fed bailed out the EU?

http://www.youtube.com/watch?v=_u8tFqOIarc

How will the Fed not bailing out foreign countries make things better? Hmm. Well, first - how about lower gas and food prices (via lower inflation) - i mean they're printing money in order to do this which causes price increases because as you print more dollars, each dollar becomes less valuable. Further, why would it be ok to loan money that they very well may never get back? How about more money in our coffers rather than foreign countries? How about if we're going to print money, we lend it to our own government (which is broke)? How about not printing money at all, or atleast considering limits?

This (bailing out the EU) is just one issue. There's tons of them. For me, it's frustrating that people just don't seem to care.

inlet13 · April 2012

@brianlux and @JonnyPistachio

Good points.

It's interesting because I think this is the one issue where America really would agree, if they just kinda were interested. Moreover, if the media was interested. I'll tell you what... in my mind, they will be. But, it just hasn't gotten to that point yet.

I mean, from my vantage point, I see Occupy Wall Street and the Tea Party both siding with limits to what the Fed does or can do. Sure, someone like myself, may want things to go even further (stricter rules or perhaps abolishment all together), but...

...what's so bad with something simpler we can all agree on - like a Fed audit? Don't we want to know what they are doing? Who exactly is against this and why?

The message of why the Fed matters isn't being articulated well. I understand all too well why the Fed was set up independent, but letting them whatever they want unchecked is not wise. And typically, unfortunately, those who tout why what the Fed is doing wrong are cast off as people wearing tinfoil hats (ie Ron Paul). This isn't really a Democrat or Republican issue at all. It's really what's the proper scope of the Fed? And where do their powers end? I think most want to reign the Fed's powers in at least slightly.

inmytree · April 2012

inlet13 wrote:

inmytree wrote:

interesting topic...not sure what you're looking for...I find folks who want to talk about monetary policy to be condescending and difficult to please...they seem to have this notion that they a better because they seem to care more about "monetary policy"....

Personally, I don't think anyone's "worse" or "better" because they care more about monetary policy. I just don't understand why people, in general (those who are better and worse or whatever), don't care about the issue.

inmytree wrote:

you seem displeased by the current "monetary policy"...

I am displeased with the current monetary policy, but what good does that do when the majority of Americans just don't care about Monetary policy and would rather argue about federal tax policies that (politicians on both sides admit) will never happen.

inmytree wrote:

what is you'd like to happen in terms of changing "monetary policy"...? and how will it make everything better...?

For me - First, I'd like citizens to become more engaged on the issue. If they did, I think that would be the best first step forward we could have. Why? Well, for example, is it OK with you if the Fed bailed out the EU?

http://www.youtube.com/watch?v=_u8tFqOIarc

How will the Fed not bailing out foreign countries make things better? Hmm. Well, first - how about lower gas and food prices (via lower inflation) - i mean they're printing money in order to do this which causes price increases because as you print more dollars, each dollar becomes less valuable. Further, why would it be ok to loan money that they very well may never get back? How about more money in our coffers rather than foreign countries? How about if we're going to print money, we lend it to our own government (which is broke)? How about not printing money at all, or atleast considering limits?

This (bailing out the EU) is just one issue. There's tons of them. For me, it's frustrating that people just don't seem to care.

thanks for this info and well thought out response...

as for bailing out the EU...I wonder what the alternative would be....let counties default...? not sure how that can be a good thing...even if we could save a few cents at the pump and grocery store...

anyhoo...I'll try to brush up on my MP knowledge...

mikepegg44 · April 2012

I think people believe they are talking about monetary policy when discussing taxes, the budget, etc. That is the biggest problem. to those who do focus on monetary policy, general populations don't appear to care...but I honestly believe it is mostly caused by a misunderstanding of the distinctions. Not that people are incapable of understanding the ramifications of monetary policy, but they think the tax rates are monetary policy.

The general population believe they are talking about it, while those in the know, in position to make a difference in policy are the ones who choose to ignore it. It doesn't win you votes.

I don't think it is apathy, stupidity, or uncaring attitudes that make people not want to know the distinctions, I think it is a purposeful house of mirrors built and maintained so the fed can operate without too much vocal public pressure.

inlet13 · April 2012

inmytree wrote:

thanks for this info and well thought out response...

No problem.

inmytree wrote:

as for bailing out the EU...I wonder what the alternative would be....let counties default...? not sure how that can be a good thing...even if we could save a few cents at the pump and grocery store...

Your question is a good one, and I commend you for asking it. I mean what's the proper role? I have my opinions - they may differ from yours. But, I say even if my opinions don't sway others or the public doesn't agree with me - a public dialogue on the subject is better than no dialogue at all, where all of us just trust that Bernanke and the rest or the Fed are genius. I sincerely believe what he does is just as important as what Obama or Bush or congress do. It effects all of us directly.

brianlux · April 2012

That segment in the video that you posted, inlet, about the Feds printing more money and the dollars getting smaller (i.e. lower value)- that really concerns me. Where does it end?

redrock · April 2012

Like several people have already said, the 'I don't care' is from lack of understanding what 'monetary policy' is and how it impacts daily lives. Lack of information, not 'news worthy' from the media point of view? Or considered too 'specialist' for the lay-person, therefore why bother to educate?

blackredyellow · April 2012

redrock wrote:

Like several people have already said, the 'I don't care' is from lack of understanding what 'monetary policy' is and how it impacts daily lives. Lack of information, not 'news worthy' from the media point of view? Or considered too 'specialist' for the lay-person, therefore why bother to educate?

Combine the lack of knowledge, with the lack of time/energy in our lives, and basically the feeling of helplessness when it comes down to it.

inlet13 · April 2012

brianlux wrote:

That segment in the video that you posted, inlet, about the Feds printing more money and the dollars getting smaller (i.e. lower value)- that really concerns me. Where does it end?

Right. If know one knows or cares, it won't end. They have all the power in the world with no real checks and balances. We aren't even allowed to know what exactly they are doing.

riotgrl · April 2012

I would like a real discussion about the role that capitalism has played in our current economic crisis. Capitalism may be the "best" economic system out there but surely the amount of getting ahead, do anything to be wealthy, be a success, mentality has played a role in this situation. However, calling capitalism into question is a big no-no. You're un-American and certainly bordering on being a socialist if you wonder about the effects of a system that only awards "winners" and if you're a "loser" then its because your stupid or lazy or any number of other derogatory adjectives.

inlet13 · April 2012

@redrock @blackredyellow

I understand what both of you are saying, but I mean people have a lot of opinions on tax policy (or fiscal policy in general). That's fairly specialized and semi-boring stuff. People don't seem to feel as hopeless about fiscal policy - they have real staunch opinions on it. Probably because they think, "well it affects me through taxes".

My point is - this affects us too. When we see the price of bread, milk, oil and BEER (my biggest pet peeve) jumping... when we see house prices jumping or falling... when we deal with economic problems by turning on the printers... when we rationalize why everyone (citizens, banks, corporations, and now even nations) need bailouts.

This is real. We don't have to have the same opinions, but I really think everyone should try to have an opinion. We don't all need to be experts, but we need to have a general idea. This is important stuff. You know what I mean?

Please Answer: Why don't citizens care...

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