Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing

[Joe Ferguson forever]

1 hour ago, sherpa said:

What?

The Fed is an independent body.

https://www.cnbc.com/2019/09/18/trump-says-powell-and-the-fed-fail-again-have-no-guts-no-sense-no-vision.html

 

Apparently trump was unaware or ignored that fact.

 

"The decision to cut rates follows a monthslong pressure campaign by Trump, who often criticized Powell by name as he complained that the current interest levels put the U.S. at an economic disadvantage to countries with lower rates."

 

Was this ok with you?  Ya think lowering rates might have had an effect on inflation back then or later?

Edited September 5, 2023 by Joe Ferguson forever

[TH3]

46 minutes ago, B-Man said:

 

 

 

REMINDER:

 

 

 

 

 

 

 

 

                                     

 

 

 

.

You mean things are pricier now than during the during the the pandemic?  Whoa!

 

You know - you have a choice everyday...why do you choose to be angry...all day...every day....?

[Joe Ferguson forever]

10 minutes ago, TH3 said:

You mean things are pricier now than during the during the the pandemic?  Whoa!

 

You know - you have a choice everyday...why do you choose to be angry...all day...every day....?

MAGA's need villains to blame for their problems.  It's just part of their psyche...

Edited September 5, 2023 by Joe Ferguson forever

[sherpa]

5 minutes ago, Joe Ferguson forever said:

https://www.cnbc.com/2019/09/18/trump-says-powell-and-the-fed-fail-again-have-no-guts-no-sense-no-vision.html

 

Apparently trump was unaware or ignored that fact.

 

"The decision to cut rates follows a monthslong pressure campaign by Trump, who often criticized Powell by name as he complained that the current interest levels put the U.S. at an economic disadvantage to countries with lower rates."

 

Was this ok with you?  Ya think lowering rates might have had an effect on inflation back then?

 

The Fed is independent entity whose mandate is to promote full employment, moderate long term interest rates and stable employment.

 

Conflict between the Fed and the Executive has always been in place, the most noteworthy being the situation between Fed Chairman Volker and Reagan.

They have conflicting short term interests.

You put out a lot of "stuff" on a lot of different subjects, but those views seem to be grossly influenced by political view.

 

Your point, not that it was effectively supported, is ridiculous.

[Joe Ferguson forever]

Just now, sherpa said:

 

The Fed is independent entity whose mandate is to promote full employment, moderate long term interest rates and stable employment.

 

Conflict between the Fed and the Executive has always been in place, the most noteworthy being the situation between Fed Chairman Volker and Reagan.

They have conflicting short term interests.

You put out a lot of "stuff" on a lot of different subjects, but those views seem to be grossly influenced by political view.

 

Your point, not that it was effectively supported, is ridiculous.

trump pressured Powell for months and then he lowered rates.  So there's that...Interesting that your example was another R who overstepped his intended power...

[SoCal Deek]

2 hours ago, Joe Ferguson forever said:

He stayed out of the Feds way, unlike his predecessor

 

Now you’ve really lost it. Dude, EVERYTHING isn’t Trump’s fault! Wake the heck up oh pompous learned one. It’s posts like this that give you ZERO credibility on here. Sadly our Court Jester position is already filled. 

[All_Pro_Bills]

15 minutes ago, Joe Ferguson forever said:

trump pressured Powell for months and then he lowered rates.  So there's that...Interesting that your example was another R who overstepped his intended power...

Which kind of proves the Fed's claims of independence are an illusion because under those conditions he could have just said no.  IMO, rather than supporting a dual mandate of employment and price stability, the Fed's primary mission at this point is to guarantee there's a pliable market for US government securities needed to fund ever increasing deficits and national debt. 

 

My personal business plan is based on the expectation they'll continue on this interest rate hike and credit contraction cycle until something breaks such as a major shock to the economy and the markets.  I don't see that event very far off into the future.  Lots of indicators are flashing red.  I also see the soft landing scenario as consistently repeated delusion.  Which will be responded to by lowering rates and increasing liquidity to markets and the economy.  The dilemma will be doing this in the face of stubbornly high inflation that just won't go away.

Edited September 5, 2023 by All_Pro_Bills

[Joe Ferguson forever]

5 minutes ago, All_Pro_Bills said:

Which kind of proves the Fed's claims of independence are an illusion because under those conditions he could have just said no.

Yes, tell that to Sherpa and Cali dude.  I don't recall Biden overtly trying to influence the Fed.  Which was my point.

Edited September 5, 2023 by Joe Ferguson forever

[JDHillFan]

24 minutes ago, Joe Ferguson forever said:

MAGA's need villains to blame for their problems.  It's just part of their psyche...

Says the guy that believes racial slurs are ok if used appropriately, is an admitted anti Zionist, hates soccer moms for being heard, sees maga nazis around every corner, and believes those that disagree with him are advocates for civil war. Really solid work with this one! 

Edited September 5, 2023 by JDHillFan
Spelling

[Joe Ferguson forever]

9 minutes ago, JDHillFan said:

Says the guy that believes racial slurs are ok if used appropriately, is an admitted anti Zionist, hates soccer moms for being heard, sees maga nazis around every corner, and believes those that disagree with him are advocates for civil war. Really solid work with this one! 

Are you for civil war.  Almost no one here has answered.  But many have defended the insurrectionists...

Edited September 5, 2023 by Joe Ferguson forever

[wnyguy]

1 minute ago, Joe Ferguson forever said:

Are you for civil war.  Almost no one here has answered?

I am not for it but can understand it if it ever happens.

[Joe Ferguson forever]

3 minutes ago, wnyguy said:

I am not for it but can understand it if it ever happens.

So you feel it's justifiable?

Edited September 5, 2023 by Joe Ferguson forever

[wnyguy]

2 minutes ago, Joe Ferguson forever said:

So you feel it's justifiable?

It's getting pretty close.

[Joe Ferguson forever]

11 minutes ago, wnyguy said:

It's getting pretty close.

Then i think it's reasonable to ask posters opinions on it.  Especially when stuff like this happens.  Palin is not the only R pol calling for civil war.  Madison Cawthorn did.  Michigan fake electors did.  Paul Gosar has.  A Georgia congressman has.  Bannon has.  It's a legitimate concern and people whose job it is to study these things believe it's very possible.

 

https://www.theguardian.com/us-news/2023/aug/25/sarah-palin-us-civil-war-donald-trump-prosecutions

 

Barbara F Walter, author of How Civil Wars Start: And How to Stop Them and a CIA advisor, has written: “No one wants to believe that their beloved democracy is in decline, or headed toward war.”

But “if you were an analyst in a foreign country looking at events in America – the same way you’d look at events in Ukraine or Ivory Coast or Venezuela – you would go down a checklist, assessing each of the conditions that make civil war likely.

“And what you would find is that the United States, a democracy founded more than two centuries ago, has entered very dangerous territory.”

 

Edited September 5, 2023 by Joe Ferguson forever

[sherpa]

53 minutes ago, Joe Ferguson forever said:

trump pressured Powell for months and then he lowered rates.  So there's that...Interesting that your example was another R who overstepped his intended power...

 

Complete ignorance.

[SoCal Deek]

In just the past few minutes we’ve been told that Trump, a guy who literally nobody in the Federal Government was listening to, pressured the Fed not to raise interest rates so as to stem off inflation, years ahead of an international pandemic that nobody ever heard of or saw coming.  You couldn’t make this stuff up if you tried! 😂😂😂😂😂😂😂

Edited September 5, 2023 by SoCal Deek

[Joe Ferguson forever]

7 minutes ago, SoCal Deek said:

years ahead of an international pandemic that nobody ever heard of or saw coming

not nobody, no how!  lot's of insiders knew about it including Sen Burr and others who profited from the pandemic after a closed meeting in Jan 2020.  The CNBC article about the interest rate decreased (not raised, dummy) by the fed was Sept 2019.  Is it possible trump knew the covid intelligence ahead of Burr?  Bur said at the time that a framework was in place to address the pandemic.  How long doe you think it took to develop that (terrible framework)?rDo you think trump may have been briefed substantially earlier than Burr? The fact that you got wrong the direction of the rate change trump pressured the fed for nullifies everything you just typed

 

 

On January 24, 2020, the Senate Committees on Health and Foreign Relations held a closed meeting with only Senators present to brief them about the COVID-19 outbreak and how it would affect the United States.[2][3] Following the meeting Senator Kelly Loeffler and her husband Jeffrey Sprecher, the chairman of the New York Stock Exchange, made twenty-seven transactions to sell stock worth between $1,275,000 and $3,100,000 and two transactions to buy stock in Citrix Systems which saw an increase following the correction.[2] Senator David Perdue made a series of 112 transactions with stocks sold for around $825,000 and bought stocks worth $1.8 million. Perdue started buying around $185,000 in stock in DuPont, a company that makes personal protective equipment, on the same day as the Senate briefing up to March 2.[4][5] Additionally, John Hoeven of North Dakota purchased $250,000 in health science companies in January, five days after attending a briefing about the pandemic.[6]

On January 31 and February 18, Dianne Feinstein sold stock in Allogene Therapeutics, with the estimated value to be between $1.5 million and $6 million.[7] According to Feinstein, the investment decisions are made by her husband, and are reported by her per Senate rules. She states that “this company is unrelated to any work on the coronavirus and the sale was unrelated to the situation.”[8] Feinstein also reportedly provided documents to the FBI related to her husband's transactions, in order to show that she had no connection to the decision.[9]

On February 7, Senator Burr, the Chair of the Senate Intelligence Committee, stated in an open-editorial on how the government could respond to coronavirus that "Luckily, we have a framework in place that has put us in a better position than any other country to respond to a public health threat, like the coronavirus," However, on February 13, he and his wife sold between $628,000 and $1.7 million worth of stock through thirty-three transactions and on February 27, Burr stated that "There's one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history," at a Capitol Hill Club luncheon and his statement was later leaked in a secret recording.[10][11

[sherpa]

5 minutes ago, Joe Ferguson forever said:

not nobody, no how!  lot's of insiders knew about it including Sen Burr and others who profited from the pandemic after a closed meeting in Jan 2020.  The CNBC article about the interest rate decreased (not raised, dummy) by the fed was Sept 2019.  Is it possible trump knew the covid intelligence ahead of Burr?  Bur said at the time that a framework was in place to address the pandemic.  How long doe you think it took to develop that (terrible framework)?rDo you think trump may have been briefed substantially earlier than Burr? The fact that you got wrong the direction of the rate change trump pressured the fed for nullifies everything you just typed

 

 

On January 24, 2020, the Senate Committees on Health and Foreign Relations held a closed meeting with only Senators present to brief them about the COVID-19 outbreak and how it would affect the United States.[2][3] Following the meeting Senator Kelly Loeffler and her husband Jeffrey Sprecher, the chairman of the New York Stock Exchange, made twenty-seven transactions to sell stock worth between $1,275,000 and $3,100,000 and two transactions to buy stock in Citrix Systems which saw an increase following the correction.[2] Senator David Perdue made a series of 112 transactions with stocks sold for around $825,000 and bought stocks worth $1.8 million. Perdue started buying around $185,000 in stock in DuPont, a company that makes personal protective equipment, on the same day as the Senate briefing up to March 2.[4][5] Additionally, John Hoeven of North Dakota purchased $250,000 in health science companies in January, five days after attending a briefing about the pandemic.[6]

On January 31 and February 18, Dianne Feinstein sold stock in Allogene Therapeutics, with the estimated value to be between $1.5 million and $6 million.[7] According to Feinstein, the investment decisions are made by her husband, and are reported by her per Senate rules. She states that “this company is unrelated to any work on the coronavirus and the sale was unrelated to the situation.”[8] Feinstein also reportedly provided documents to the FBI related to her husband's transactions, in order to show that she had no connection to the decision.[9]

On February 7, Senator Burr, the Chair of the Senate Intelligence Committee, stated in an open-editorial on how the government could respond to coronavirus that "Luckily, we have a framework in place that has put us in a better position than any other country to respond to a public health threat, like the coronavirus," However, on February 13, he and his wife sold between $628,000 and $1.7 million worth of stock through thirty-three transactions and on February 27, Burr stated that "There's one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history," at a Capitol Hill Club luncheon and his statement was later leaked in a secret recording.[10][11

 

You are way out of your lane.

Say what they want, but he Executive has no ability to effectively pressure the Fed or determine Fed policy vis a vis funds rate or other actions.

The Fed, for the billionth time, has its own mandate that is apolitical.

Your posts indicate you do not know this.

Stay with what you know.

 

[Joe Ferguson forever]

8 minutes ago, sherpa said:

 

You are way out of your lane.

Say what they want, but he Executive has no ability to effectively pressure the Fed or determine Fed policy vis a vis funds rate or other actions.

The Fed, for the billionth time, has its own mandate that is apolitical.

Your posts indicate you do not know this.

Stay with what you know.

 

Do you think it's appropriate for the president to even attempt to pressure the fed chair??   Why try if it can have no effect.  Ho3 do you know Powell wasn't feeling threatened?  As I  recall, trump threatened to replace him. 

 

https://www.cnbc.com/2018/12/22/trump-reportedly-wants-to-fire-fed-chair-powell.html

 

The report said the Trump’s advisers have warned him against such a move, which has never been done by a president and it’s not even clear whether he has the legal authority to do so. White House and Fed spokespeople declined to comment to Bloomberg.

 

But Trump has already broken with precedent through his repeated criticism in the second half of this year of the Fed and the chairman to the press and via Twitter, including this week before the central bank hiked rates. Other presidents privately tried to influence the Fed, but none did so in such a public and forceful matter.

 

on the Issue of covid info timing that cali guy brought up, this timeline is interesting

https://doggett.house.gov/media/blog-post/timeline-trumps-coronavirus-responses

Edited September 5, 2023 by Joe Ferguson forever

[sherpa]

I'm not interested in talking to you about this.

The dynamic has been in effect for decades.

The president always wants lower rates, more liquidity, a happy market etc.

 

The Fed has its mandates, which are different, and some times at odds, for the billionth time.

 

Understand that; acknowledge that or go away.