Thanks for all your thoughtful comments. It is my personal opinion that the Fed has thrown in the towel on ZIRP and QE and is willing to allow the market to make its own adjustments.

Congress is just as stupid as the Fed. They booth should keep their hands off. If the politicians were honorable they would voluntarily resign after one term in office.

Replace Welfare, Medicare and Medicaid and ObamaCare with a work, training program and basic insurance program, requiring work, but offering minor training programs ONLY as specified by prospective employers that are presently hiring. Participants give up the right to vote until one off the dole.
Flat rate tax, with no deductions. Same for corporate tax, after lowering the rate to 15%.
Eliminate government programs where ever a private company can offer the same service, and question every service.

In 1979 I was the town barber in a small town and the talk around the chair was the same under J. Carter's leadership as today. Carter's story was "this is as good as it gets" Obama's story is "isn't this wonderful now, I told you I could change America!" (SOUA, 2015). In 1980 a guy came along that communicated a vision for America beyond the limits of socialized government. Today, a great salesman and businessman is challenging people to "Make America great again!" I believe, from past experience, the silent majority that has sat on their butts for generations will go to the polls and take a chance on greatness. We have seen how many can set at home taking government money. There is no economic ladder to climb on government largess. concersely, there is no limit to the heights we can achieve choosing greatness.

The FED has revised margin ratio for some assets that effectively induces funds to buy T Bills. Who's selling? The FED. The FED then buys more T Bills from Treasury. Welcome to QE4!

Remember, it was the "Progressives" that pushed this Federal Reserve scam on us. It was the dream of the Banking elite that such a monstrosity on us. Banks created this because they make money by lending money and the best customers are always the countries.

War is big business and they knew that hence the wars have always served the Banking elite. In addition, they call it Federal Reserve and it is nothing of the kind. It was named that just to trick the population that it was there to protect it.

It is time to audit the Fed and expose it for what it is if the audit warrants it. It is also time we grow up and stop living our lives on credit! Fiscal responsibility is for both government as well as the individual and the sooner we learn that lesson, the better for the world!

Well, that is the problem with this massive shift from a republican (small r) form of government envisioned by the founders to this more "Populist" form of democracy. The problem is that people vote for the "freebies" and these "representatives" wanting to stay in their cushy jobs with all the perks, are perfectly willing to continue to "buy" their votes and rather doing the "Right Thing for the Right Reasons" end up "Doing Things Right" in order to keep getting reelected. That is the inherent shortcoming of being a "democratic republic" without imposing term limits.

For these reasons, I concur that a president would not sign nor champion a bill like that. Time for an Article V convention - Term Limits.

Yes, but it is there specifically for banks (and Wall Street).

Unfortunately, they have been doing this with eyes wide open hoping that the problem comes to roost on someone else' watch!

First of all, the premise that the Fed should control these things is both an inaccurate understanding of the Fed's real charter, that being by banks, for banks and keep the dollars and inflation going and the "control" of the gold reserves.

The QE is bogus just as is the thought that the FED is subservient to anything but the banks and Wall street. The best thing that the Fed could do with the direct intervention perhaps by Congress is to get out of the way and stop playing these Keynesian games. Perhaps it is time to change philosophies from Keynes to Hyek and the Austrians!

Unfortunately a house of cards such as has been built is going to continue to be a house of cards regardless of the Fed's "tools" and management strategies. Kicking the can down the road like they have been doing for years now, planning on "managing" the crashes that must surely result is still and always will be a losing game. The countries that get it understand that a fall is coming are the one's that are moving to gold or commodity backed currencies. This is what would help alleviate the situation we face and that in my estimation, the Fed is ill equipped to handle with the current leadership, both at the Fed, the administration or Congress.

To me, it looks like the Fed is way behind the curve and that all of the Fed's Keynesian tricks are to be of no avail. Instead of people crying for the Fed to "do something" perhaps the next steps should be to audit the Fed and see just how screwed up things really are there and to design a new strategy to deal with what is ahead!

The outcome of such an audit would be that an adjustment will be needed and it will not be one the old Fed tricks that will save the day. Unfortunately the adjustment will probably not be mild thanks to a great extend the timidity of Congress, the lack of all understanding of economics by this administration and the gullibility of the general population that have allowed the situation to deteriorate to the point we are today. If not adequately corrected soon what we have is the the makings of the "perfect storm" and with the Keynesians at the helm, it is they who are greatly to blame. Don't go looking for an intelligent response or action from them! Its not their focus or even apparently their understanding.!

For what its worth!

bring Reaganomics back -- and cut the business taxes
to encourage businesses to rebuild. -- j
.

Go back to the "United States Reserve"? that congress and Kennedy signed? Then make the Fed: (not beholden to America nor our constitution) accountable for the mess they created and somehow word it in liberal progressive mindless terms; [confounding the language they themselves confounded]

Fat chance...(just a pipe dream of mine)

So far, this congress has been blinking like a biker with a gnat in his eye. What is needed is a powerful leadership that will get things done, without becoming a dictator. It is a fine line because our country has been going down the wrong path for so long while disregarding warnings of the consequences.

The vote to audit the fed was along party lines, with Ted Cruz not voting on this super important issue. But, as usual, the Big Government Party won and the Fed will continue to cause economic chaos while the BGP will blame it all on business.

The spirit of that bumpy thing still managed to communicate quite successfully.
I'm thinking of an old short film that contained the following dialogue.
Moe: Success!
Larry: Success!
Curly: Success!
Just messing with ya. ( :

What president are you referring too?

If something was missing, I don't think I'd know it. Ha! Ha!
My bad on word usage. You have three separated sets of sentences.
I was referring to the last paragraph if you want to call it that. It begins with a lower cased "so--" and ends with the word "--old."

I can give you some ideas for legislation that will put people back to work.

1. Lower the corporate tax rate to no more than 15%. My preference would be zero, as corporate taxes only get passed along to consumers anyway. For the same reason, I'm opposed to VAT taxes.

2. Decrease the burden of government regulation. That means getting rid of a lot of the EPA, HIPPA, ACA, and other federal regulations that many estimate are costing us $2 TRILLION in productivity every year.

3. Lower personal income taxes to no more than 10%. Again, my preference would be zero. Get the investment engine rolling!

4. Eliminate inheritance taxes, capital gains taxes, estate taxes, and all those other tax-on-top-of-tax taxes.

5. Give people an incentive to work by phasing out SS AND its accompanying taxes. Along the same lines, eliminate these absurd 50 weeks of Unemployment Insurance mandates.

As for the Fed, I say that we leave them to their own devices - to be crushed by their own weight. If they want any help, it should be completely contingent on a full and complete audit.

Love that last group of cropped off sentences.

What old dino is thinking from the get-go.

Why would the president want to sign a bill like that? It does nothing to further his agenda.

Yes, the bankster puppeteers ... to quote GWB, "the deciders."

Fed is not just run by bankers but is owned by 20 bank families Rothschilds, Rockefellers, Morgan's ect..