Blasting "False Economy," Trump Takes on the Federal Reserve

The New American ^ | 08 September 2016 | Alex Newman

[VitacoreVision]

Taking aim at the Federal Reserve's politically motivated manipulation of the U.S. economy, Donald Trump blasted the central bank's artificially low interest rates and denounced its “very false economy.” By Alex Newman

[ClearCase_guy]

Modern economics seems to focus on the concept that Wealth is principally created by intentionally increasing Debt.

It’s time someone explained that Debt is mostly bad. It may not be totally unavoidable, but it is not the foundation of a strong national economy.

[patro]

He’s right, and when the rates are finally adjusted back to where they should be, we’ll hit a snag and the media will blame him.

[Restless]

So, maybe very soon I can get more than 0.5% on a CD or savings?

[central_va]

Ask the Japanese what is the foundation of a strong economy. Without their first class industrial base Japan would be a third world country.

[cloudmountain]

I remember when interests rates were 18%, to borrow or put into the bank. We got a loan for a home and thought we were LUCKY to get it at 15%.

We OUGHT to remember the past (history) as it tells us who we are and why we are that way. Whining is for wimps.

[beethovenfan]

Hillary who?

[mountn man]

Compare todays economy vs the Reagan years.

From Dec. 16, 2008 until Dec. 17, 2015, Federal Reserve Interest rates were at 0.00%
From Dec 17, 2015 - Dec 14, 2016, they were 0.25%
From Dec 14, 2016 until now, 0.75%

The Reagan economic boom came while interest rates were high.
In ‘79-’80 they were at 20%

When Reagan took office in Jan. ‘81, the fed rate was 20%
April 16%
May 20%
December 12%

April ‘82 15%
Dec. 8.5%

August ‘83 9.66%
Oct 9.25%

August ‘84 11.75%
Dec 8.25%

March ‘85 9.0%
Dec 7.75%

August ‘86 5.66%
Dec 6.0%

Sept ‘87 7.25%
Nov 6.75%

Feb ‘88 6.5%
Dec 9.75%

https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135

This study
http://dataspace.princeton.edu/jspui/bitstream/88435/dsp01zs25xb933/3/603.pdf
By Harvard and Princeton economists Lawrence Katz and Alan Krueger, (Krueger being chairman of the Council of Economic Advisers under Obama until 2013)
Finds that 94% of the jobs created between 2005 and 2015 were non traditional, temporary, contract or part time jobs.

[mountn man]

See #8

[amihow]

How do Marxists, Globalists and Progressives destroy the middle class?

Low interest and inflation. That has been the policy of our sitting elected officials for the last decade.

Lots of swamp yet to drain.

[central_va]

How do Marxists, Globalists and Progressives destroy the middle class?

"But, in general, the protective system of our day is conservative, while the free trade system is destructive. It breaks up old nationalities and pushes the antagonism of the proletariat and the bourgeoisie to the extreme point. In a word, the free trade system hastens the social revolution. It is in this revolutionary sense alone, gentlemen, that I vote in favor of free trade."

Karl Marx on Free Trade

[amihow]

Thanks. We can add free trade to inflation and low interest rates.

Beautiful quote.

[4Liberty]

Bump 👍🏼🙂

[gattaca]

I hope he can take on the Fed. Reserve. Reagan tried.

[veracious]

Glad to see President calling out some issues with the _federal_reserve_ . Biggest problem is that it creates -money-out-of-thin-air-, providing false prosperity, accounting for about 50% of USA growth over the past 70 years. Working closely with DC, the _reserve_ enables DC to pretend to run just about everything in USA, fund every good, bad and ugly pogrom and make dependent about half of once free USAians.

[SaxxonWoods]

This article is from September.

[TEXOKIE]

BFL

[GOP Poet]

bookmark

[Ray76]

Control the debt, you control everything.

[cloudmountain]

Thanks for the information. The 18%, as I recall, was in 1980. I don’t remember 20% but...that was PROBABLY for the wealthy and for the banks anyway.