How QE Causes Millennials and Senior Citizens to Compete for Jobs

QE Causes Millennials and Senior Citizens to Compete For Jobs

JM Bullion

Millennials, Senior Citizen and The Federal Reserve

See also Millennials: Not Part of the Club Yet

Podcast Summary:

0:00-2:45 Intro

2:45-4:25 Review of what the Fed Presidents are saying.

4:25-9:30-How the Fed communicates their position to control interest rates and the dollar; why the Fed may be serious this time about tapering; discussion of Janet Yellen’s comments on QE; at what price could the Fed sell the securities they bought during QE over the past five years and to whom; discussion of the impact of the poor jobs report on interest rates and the Fed’s position on tapering; blaming the weather!

9:30-12:40 the Fed’s taper plans and its impact on interest rates, mandatory retirement accounts to cover short fall in QE purchases.

12:40 – 14:15 further discussion of Janet Yellen’s comments on QE

14:15-18:05 the impact of five years of QE on millennials; senior citizens in the work place competing with millennials because of lack of fixed income on investment due to QE; how raising the minimum wage would further harm job seeker.

18:05-20:50 how the new qualified residential mortgage rules may harm the real estate market; how congress and the Fed may work together;can the economy sustain higher interest rates if they are “historically low”.

20:50-26:00 discussion of the low inventory/low sales higher prices real estate market; why the stock market is rising even though revenues are not rising at a similar pace; will the banks lend out some of their excess reserves and cause inflation?;how the Fed controls interest rates and the money supply.

26:00 – 32:45 the impact of Obama care, student loans, QE and the economy on millennials; the deficiency of a college education in preparing graduates for a job; discussion of the advantages of homeschooling and a free market driven diverse set of educational choices.

32:45-35:45 unemployment benefits, how people vote for government benefits; discussion of capitalism, fascism and millennials’ view of economic systems; how lack of opportunity for millennials will impact the economy and housing market.

35:45 – 37:00 how regulations harm markets.

37:00-38:55 how market intervention begets more market intervention that makes things worse (like botched plastic surgery).

38:55-43:40 how a Fed taper schedule might look and how markets and businesses might react; why the Fed would not defer to the markets; why inaction is sometimes better than action.

43:40-45:00 the public’s ignorance of the Fed and its function.

45:00 how economic knowledge would help realtors advise their clients better; the low sales volume housing “recovery”.

49:55-discussion of whether higher interest rates would harm the housing market and the economy.

52:50 the lack of millennial household formation; the importance of what is said vs. who says it; our listeners are the best!

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Further Reading:

Millennials: Not Part of the Club

The Dark Side of Artificially Low Interest Rates

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