The Fed is spending $2.5B to renovate its building. Where’d that money come from? Profits.
Where’d the profits come from? Interest on bonds.
How’d they buy the bonds? They printed the money.
So yes, the Fed printed $2.5B to renovate its office.
They shouldn’t pay for the infrastructure, I agree. The post is aimed at the electricity use itself. If a data center increases demand and electricity prices rise, that doesn’t mean it owes everyone else compensation. No one has a right to previous prices. The company should pay the full market price for the electricity it consumes, not be penalized simply for increasing demand. Dedicated infrastructure is different: those costs shouldn’t be paid by residential customers.
@JamesJinSC@RonDeSantis Such a stupid argument. "Should" is the left's favorite word. Government should pay for healthcare. College should be free. Taxes should be higher. No real substance.
@RonDeSantis How about letting competition expand supply instead of having the government dictate prices? You can’t claim to support free markets when it’s convenient, then embrace intervention the moment an issue becomes politically popular.
@RepLuna Why stop there? If capping things is the solution to unaffordability, let’s just cap everything: insurance, rent, groceries, and mortgage rates.
Abandoning the ideas of free trade is not American. Punishing producers for the benefit of consumers is not American. Government intervention in the market is not American. There is no “should” in the market. You, a politician (parasite), should not determine what the market does.