Posted on 08/14/2019 1:52:05 PM PDT by Kaslin
RUSH: The Drive-Bys, theyre incorrigible. Now they are literally trying to once again talk the people of this country into a recession. Now theyre doing it with the inverted yield curve. And the whole problem here is the Federal Reserve. The Federal Reserve is anti-Trump, is making a mess of the interest rate circumstance.
So many people in that town want rid of Trump that theyre going to stop at nothing. It doesnt matter what damage they do to the economy or the country. And its not unprecedented, folks. This has been done before. What was it, back in 2006, the midterms, the Drive-Bys were doing everything they could to talk down the economy. We had the so-called financial crisis of 2008. And, of course, they were doing everything they could in the second Bush term to talk down the economy while sabotaging the Iraq war and war on terror efforts.
Its never ending, and of course now youve got the headlines were just right around the corner because of this yield curve, the inversion in the yield curve. This has to do with bond prices and yields. And its all a function of the Federal Reserve setting interest rates and the Federal Reserve acting like theyre the central bank for poverty-stricken nations around the world instead of the central bank of the United States.
So well get to this in greater detail.
BREAK TRANSCRIPT
RUSH: Speaking of the economy, I wouldnt blame you if you thought the economy was about to tank. You turn to The Drudge Report right now: Yields flash recession warning, stocks dive, banks hammered.
This is the bond market. The bond markets in trouble. And this is where the yield curve is trending so far down that it makes no sense to buy bonds, no reason to invest in them. Youve got people in various other news stories worried about negative interest rates, which means you deposit a thousand dollars in a savings account and that thousand dollars immediately becomes $950 because you have to pay an interest rate for the bank to keep your money. Theyre promising you this is happening. Then theyre promising that a recession will follow all this.
And no matter where you look, this is the mainstream media reporting and yet I have this headline Americans apply for jobs at Koch Foods. The unemployment situation is great. We have more people looking for jobs than there are jobs open. From the National Federation of Independent Businesses: Small Business Optimism Continues to Defy Expectations. Im going to give you a pull quote from this story.
While many are talking about a slowing economy and possible signs of a recession, the 3rd largest economy in the world continues to defy expectations, generating output, creating value, and expanding the economy, said Juanita D. Duggan, the president and CEO of the National Federation of Independent Businesses.
Another pull quote, Contrary to the narrative about impending economic doom, the small business sector remains exceptional. And of course thats where the bulk of employment in America is. This months index is a confirmation that small business owners remain very optimistic about the economy but are being hamstrung by not finding the workers they need, said NFIB Chief Economist William Dunkelberg.
So here you have Juanita Duggan and William Dunkelberg saying small business confidence is through the roof. The only thing holding them back is they cant find enough people to do jobs that are open. Okay. Thats the real world. This is American small business. This is where people are working and getting paid. This is where commerce is taking place. This is the definition of economic activity.
But then over here in all these esoteric places we have the yield curve is heading in the wrong way and the Feds are doing the wrong thing on interest rates and the bond market over here and the hedge funds there. And theres this giant disconnect. Democrat Party candidates are running around talking about how awful this economy is. But they better be careful because not long ago they were trying to credit it as Obamas economy. Right? Am I right?
I am. It wasnt that long that every one of these people, including in the Drive-By Media, got so sick and tired of having to hear what great things Trump had done for the economy that they had to jump in and say, Well, its really Obamas. Yeah, now theyre talking about the Obama economy into a recession.
Folks, theres a good old standby here, and I know people have smirked at it when Ive said it in the past: If theyre going to have a recession, just dont participate. This recession they are trying to create is attitudinal first. They have succeeded. I remember you probably will remember this story as well during the Bush presidency, I forget, must have been the second term, the economys going great, the economys doing well in Bushs second term but the media is talking about it like its something nobodys experiencing.
Its really bad. The bottoms about to fall out. The recession is happening. Were on the verge. The Democrats always, when theres a Republican in the White House, were always on the verge of recession. I got a call from a guy, average ordinary guy, he said he was worried. I said, What are you worried about?
He said, Im doing really well. I mean, my economic life is good. But, man, I turn on the news and Im hearing how everybody else in my town is about to fall off the edge.
I said, This is exactly the point. There are two things at work here. Youre doing great because the economys doing great. Youre doing okay. The savings rate is even up. But then you turn on the news and you hear all the suffering, you hear about how its all about to go off the cliff. You hear about were on the verge of another recession, it could be the end of the countrys economy for a long time. It could be a repeat of 2008.
But youre sitting there, youre doing okay. So your reaction is, A, guilt. Oh my God, this is not fair, if Im doing well so youre not permitted to enjoy your own reality because youre pummeled every day with fake news about how the economy bottom is about to drop out. Dont participate, folks. If they want to throw a recession in the news, then let them have their recession in the news, but just dont participate.
BREAK TRANSCRIPT
RUSH: Oh, lookie here, folks. I found another economic story. This story in the Wall Street Journal. The headline is: Chinese Economy Weakens on Several Fronts as Trade War Rages. Now, you may have heard that Donald Trump just blinked in the trade war with the ChiComs. Yeah, they didnt report that the ChiComs blinked last week when they tried to play the currency-manipulation game and lost. The ChiComs blinked in less than 24 hours and stopped playing the devaluation game. But now Trump has blinked. These people are obsessed.
A, theyre opposed to the trade war. They think Trump is making an economic mistake because they do not understand. People in media, in economics, do not understand it. They dont know how to report it. They dont know what tariffs actually are and how they raise money and how they dont. They dont understand the trade imbalance beyond the numbers. Yet they portray themselves as experts. Theyre out there claiming, This trade war is bad! Its bad. (sobbing) American farmers are starving.
American farmers are going bankrupt; Trump doesnt care! So Trump comes along and delays the imposition of September tariffs until December, and the media says, Trump blinks! Now if they were consistent, they would be happy. Theyd be happy, because all this economic damage they think is being done by tariffs will stop. Its tough to keep up with these people. But all they can do is just attack Trump no matter what. All tariffs have not been delayed!
For example, theres a bunch of Apple products that are going to be subject to tariffs in September and a bunch of Apple products that are not going to be subject to tariffs. It depends on the categories. Not all tariffs are being suspended. If youre wondering, the iPhone will not be subjected to tariffs; theyll announce the iPhone in the first two weeks of September. The things are being built now. Theyre being manufactured in China. Theyre going to be shipped to the United States sometime when September rolls around.
Theyre not going to be subject to tariffs. Youre not going to have any price increases on your iPhones. Trump and Tim Cook, they know each other; they talk. This is something that has to be done in this trade imbalance with the ChiComs. It has to be done. Trump is not blinking. Hes attempting to accomplish a number of different things at the same time, including maintain U.S. economic activity. But the headline here from the Journal tells the tale: Chinese Economy Weakens on Several Fronts as Trade War Rages.
You would never Outside the Journal, youll not get anybody in mainstream economics that even understands the impact on China of this trade war. Because in their world, China is making a fool out of Donald Trump, because thats what they want the case to be. Trumps trade war is doing great damage to the Chinese economy. The ChiComs just dont react the way presidents in this country do, because the ChiComs dont care about their people as much as people are cared about in capitalist countries.
By definition! By definition, people that live in communist countries (big sigh) Theyre just statistics. Theyre just bodies to be shuffled around and moved around if they think the right thing and if they dont think the right thing, you send them off to re-education camp. The ChiComs have a billion people. If there were an old-fashioned ground war that broke out, the ChiComs wouldnt care. They wouldnt mind losing some number of people. Theyve got more than they can feed anyway. Every country looks at things differently.
But when you have a media that hates Trump, every country is better than America because they hate Trump. Thats why we got all of this romanticization of communist countries and socialist countries. Anything, anything to rip into and to destroy Trump. Dirty little secret, though. Heres a story from PJ Media: Socialism Label Still a Drag at the Ballot Box. The medias not going to tell you this either, but the primary reason that Democrat candidates are running is why theyre going to lose.
This is a You know, I like to look at things positively. We have epecially with this Fredo Cuomo quote here, when he went down to Cuba. This is a golden opportunity we have. We have all these skulls full of mush out there, all these Millennials, college-educated Millennials who think (sniveling), Socialism is some romantic thing. Everybody is the same and everybody is equal, and nobodys feelings are hurt.
And you cant say mean things about anybody, and theres climate change concerns, and so forth. They have totally been lied to. We have an opportunity in the form of a presidential campaign to educate people about socialism and communism while it is still a dirty word. We better do this now. The polling data shows socialism is not widespread-believed enough to propel a candidate in a two-candidate race to the presidency.
BREAK TRANSCRIPT
RUSH: Folks, I just want to tell you: There is no recession. Do you realize the United States is the only place for people to invest money in the world, particularly among our allies? They are suffering negative interest rates because of the blockheaded stupidity of these European socialists and its causing havoc in the bond markets. There is no recession. But Im telling you this: The financial people in this country are all leftist. You havent seen anything yet in their efforts to destroy Trump.
BREAK TRANSCRIPT
RUSH: So, I mentioned yesterday that I had an interview last Friday. After last Fridays program, I talked to Larry Kudlow, who is head honcho of the presidents Council of Economic Advisers. Its coming up in the next issue of The Limbaugh Letter. But I want to tell you one thing he said. The whole thing is inspirational and its informative, and Im glad that you subscribers are going to be able to read it. I asked him and, by the way, he doesnt see any of this recession stuff. Now you would expect that.
Hes from the Trump administration and theyre not going to openly sit there and say, Yeah, I think were doing a bad job. I think the recession is down the road and I think weve got to get ready now to fight it. No, thats what the media is doing. And, of course, let me tell you something. The people that run the financial markets can play a bunch of games. They can create news that results in people selling stocks. So like today, youve got the Dow Jones down 700 points on fears of a recession. Fears of a recession.
But the Kudlow answer here is key to understanding this. I said, What is our biggest vulnerability in our economy right now? What do you think it is? I had several things in mind based on things I had read. He said, The rest of the world. I said, The rest of the world? What, do you mean? He said, Rush, the world economy is linked, and right now were the only place in the world to put any money. He began an in-depth explanation of the economic circumstances in several of our allied countries, particularly in Europe, with a focus on negative interest rates.
Do you know what negative interest rates are? They are hideous, and its the kind of thing that when you as a consumer hear about them, you want to pull every dollar youve got out of any bank and just put it under the mattress. Negative interest rates are when you pay the bank to keep your money; they dont pay you. Thats negative interest, and this is happening in Europe right now. There are negative interest rates on savings accounts. There are negative interest rates in the interbank lending.
I said, Why are they permitting this to happen?
He said, Because they have their models.
Models is another word for time-honored strategies. They have their own economic models and they are simply going to stick to them. I said, But wait. Were talking here about various degrees of central bank-controlled socialist economic policy, even in some of these Western European democracies. He said, Thats right. I said, Why dont they look at whats happening in the United States now, or what happened in the United States in the 80s, or any time that there is economic policy driven by marginal tax rate cuts? Why are they ignored?
He said, Its because they dont want to surrender that kind of power to the population. The countries were talking about want the people who live there to continue to think that their governments must do everything. Now, were not talking about the educated 1% elites who are wealthy as can be. Were talking about the general population. Those countries want people in the general population to look at government the way our young people do: As the answer to everything, as the reason for everything, as the fixer for everything.
Anything goes wrong? Have government fix it! Even the stuff that government breaks (sobbing), The governments gotta do something; the governments gotta fix it, which is why all the talk today in the Trump administration about self-reliance, which is why all the talk about getting rid of the public charge rule, the green cards, changing it back to what it was. Yeah, well be happy to let you in the country if you can stand on your own two feet, if you can take care of yourself.
Well, what this means When the rest of the world has things like negative interest rates and no economic growth, whos going to invest there? Nobody! Where are they going to invest? Theyre going to invest here. So theyre bringing some of their dollars, which is the reserve currency. This is the international trading currency, the dollar, which is why it matters what the exchange rates are. The bottom line is, this yield curve business inverted yield curve that (if youre paying any attention) youre hearing about.
(sobbing) It is so potentially explosive, it can wipe us out! Its all because all of this foreign money is pouring in, and it simply is a supply-and-demand situation. But elsewhere in the U.S. economy, weve got more jobs available than there are people to do them. We have become energy-independent. By 2020, its expected that the United States will export more energy than we import, and that will be a first since 1953. The United States right now is the worlds largest crude oil producer.
We are also the worlds top producer of petroleum and natural gas and related products. So its in this mix that somehow were destined for a recession? I wouldnt let them get away with poisoning your mind this way. A recession, in many ways, can become a self-fulfilling prophesy. If people begin acting like the economy is going to go south, guess what might happen if enough people act that way? Its the people of this country who make the economy work. Its engaging in commerce, buying and selling, having disposable income to spend.
All of these things are what really comprise GDP. Now, our government is too big a share of our GDP with all of the borrowing and thats not something thats going to change anytime soon or overnight. But its really, really important that you not let all of this Drive-By Media, fake economic news, talk you into believing that we are on the verge of another gigantic recession or maybe depression, and keep in mind why all of this is being said: There is a presidential election in 15 months and the people behind this hate Donald Trump.
They have tried everything they know to get rid of him. I dont need to go through all of it. You know it all. You know the silent coup, the phony Russia collusion investigation, racism and bigotry. We have kids in cages at the borders. All of this! Every week, it is a new thing! When the previous weeks effort fails, they move on to something else. Now were on to the recession the unavoidable recession. Democrat candidates pick up on it and look! If we are really on the verge of recession, do you realize the things theyre talking about will finish us off?
They want $200 trillion in new spending programs on the verge of a recession? Middle-class tax increases to pay for free health care for every illegal immigrant now and in the future coming into the country? If were really on a verge of a recession, the Democratic Party is disqualifying itself from the presidential election right now just on the basis of the policies that theyre announcing. Its all fake news, folks. Now economies go up and down, and just like we cant control the temperature, we cant really control recessions or depressions.
Because if we could, there would never be any. We can have plans in place that limit damage, soften the blow, limit the pain. But in terms of causing a recession or limiting one, theres really not a whole lot we can do. Although, the Federal Reserve tinkering and toying around with interest rates can have an effect on what happens on Wall Street, as were witnessing. As Wall Street goes, a lot of people say, Oh, my God! Wall Street is down 700 points! They think the bottom is about to fall out. So the Fed does have an effect.
All of this is attitudinal in many ways, and theyve been trying to make you depressed. Theyve been trying to make you fatalistic. Theyve been trying to make you think you made a mistake voting for Donald Trump. Theyve been trying to make you think you need to fix it. Theyve been trying every which way they can think of to make you think that you made the biggest mistake this country has ever made by electing Donald Trump and theyre not going to stop. Its only going to intensify, the efforts to smear and to destroy everything the administration has done and is trying to do.
And believe me, these people wont care what damage is done to the country or the economy in the process, because getting rid of Trump and regaining that power themselves is all that matters. Weve got one sound bite here. Im going to get to the phones after the next break.
Peter Navarro, who is the director of the White House Trade Council, he was on Varney & Co. Today on the Fox Business Channel. And his question, Varneys question: Did the ChiComs give on something? If we gave a little bit by delaying the tariffs from September to December, what did we get? Hmm? Is there anything?
NAVARRO: What the markets now have is total certainty about how the scenarios going to unfold over the next three to six months. What we have here is the tariffs are moving forward, number one. Number two, we are continuing to negotiate with the Chinese and there will be another phone call within two weeks. All of the businesses that are affected by the tariffs now know how they will be affected.
RUSH: His argument here is weve got stability. Weve got stability for the rest of the year. The tariffs that were going to happen in September have been delayed until December. So markets can now zero in and dial in. In the process, in the meantime, were going to keep talking with the ChiComs. And his point is that were not changing policy and we are not blinking. We are simply delaying the implementation of this round of tariffs.
I even heard Trump say something about Christmas. He didnt want to do any damage this Christmas. This is the difference between us and the ChiComs, by the way. The ChiComs couldnt care less what their actions do to their own people. Theyre communists, they dont care. If some of their people starve because theyre not buying U.S. agricultural products, no big deal.
Theres a billion of them over there. They dont care, not nearly as much as leadership in democracies care, because as far as the ChiComs are concerned, its them who make their country run, not their people. But the dirty little secret about all this talk of recession, Im gonna go back to a point I made with Kudlow before we go to the break.
Theres one thing and this negative interest rate factor in Europe and some of our other allied countries is a great illustration of this there is one thing that nobody in the world can do without. And that is access to the United States market. Access to you, access to your ability to spend disposable income. Thats why the ChiComs dont ever want to totally take out the United States.
This is the biggest economy in the world. This economy produces wealth not just for the people of this country, it produces wealth all over the world and it feeds the world, and there isnt another economy like it because nobody has had the guts to go full-fledged capitalism like we have from our founding.
Its silly. Its what Kudlow was talking about, about these people have their models and theyre going to stick to them, stubbornly, no matter what. But the bottom line is they need our market. Now, some of you saying, Rush, dont be so naïve. The ChiComs would love to wipe us out. The Russians would love to wipe us out.
No, they wouldnt like to wipe us out. They would love to gain control over us, but they dont want to wipe us out. The world cannot do without the U.S. market, folks. I dont care if youre a communist, if youre a socialist, if youre capitalist, follow the money. Just because a countrys socialist doesnt mean that the people that run it are poor. The people that run communist countries and socialist countries are among the richest in the world because they take everything from their people.
Money is what makes the world go around. Access to the United States market, theres nowhere like it. Theres no other market anywhere in the world. Theres no other market where the innovation in the world has a chance to be implemented into consumer products and services like the United States of America. And certainly not at the scale that it can happen as it does here.
BREAK TRANSCRIPT
RUSH: Just to illustrate the blanketing of the Drive-By Media with this theme that we are on the verge of a recession that it may, in fact, already be here; that its just a matter of time before everything Donald Trump has done causes this country to collapse. They want a recession so badly that they will practically will one into existence. They will simply say there is one even when there isnt if that will get rid of Donald Trump.
Heres a media montage to demonstrate what I mean
PETER ALEXANDER: The risk of a recession in the next year is growing!
JOHN AUTHERS: very clearly that we are likely to have a recession!
DAGEN MCDOWELL: Every recession since World War II has at least been preceded by an inversion.
GINA MARTIN ADAMS: We are already pricing in recession!
KEVIN KELLY: We cant evade a recession forever!
KAYLA TAUSCHE: a recession warning!
MAX BOOT: threat of a recession on the horizon!
JONATHAN LEMIRE: A recession could be looming!
ALEXI MCCAMMOND: looming recession under President Trump!
KATHARINE HARLOW: (music) serious new fears of a recession. The presidents on vacation.
RUSH: Shouldnt that montage right there tell you this is BS when the media gets on these things gravitas, whatever the montage is when theyre all saying the same thing? Looming recession! Dangerous inversion! When theyre all saying the same thing and when it happens to align with what the Democrat presidential candidates are saying isnt it time to be very suspicious of it, that this is not resulting from actual news out there.
This isnt the result of whats happening in the markets. This is what these people want you to think is happening. They are attempting to move public opinion so they can then go out and do a poll that will show whatever percentage of Americans are worried to death about a recession and are going to cut back their spending and theyre going to cut back their Christmas and theyre going to cut back their vacation and da da da da.
Theyre going to make it look like Donald Trump has people scared to death to spend any money at all and its only a matter of time before it collapses. And the next story will be whatever the Democratic candidates happen to be talking about, which is giving everybody everything. So even if there is a recession, youre covered, because the Democrats are going to take care of you! That is the plan. Now, just a couple more, well head back to the phones. Wilbur Ross Willllbur who is the secretary of commerce.
He was on CNBC Squawk Box today. Joe Kernen, first question to Willllbur: The yield curve, a lot of people say that this indicates a recession in 12 to 18 months. Notice the timing: 12 to 18 months is right at the election. (chuckling) Isnt it just remarkable how this works? The yield curve in the bond market, the inversion, a lot of people say What people, Joe? A lot of people wandering the halls at CNBC? What people? They say that this indicates a recession in 12 to 18 months. What do you think, Wilbur?
ROSS: Well, formulas like that work when they work and they dont work when they dont work. Theres also a question of how far into the future. Eventually, there will be a recession. So the idea that 1,000th of 1% inversion which is what I saw on your screen a little before is going to be the end of the economy strikes me as a little aggressive.
Commerce Secretary Wilbur Ross discusses the latest on the China trade talks
RUSH: Now, Wilbur Ross is a billionaire, and he sees things differently than you and I. So he talks about the things he sees differently than you and I. So he says, Look, theres going to be a recession because there always is the next recession, like theres always the next drought, and theres always the next thunderstorm, and theres the next hurricane. There is going to be one. Theres going to be another shooting.
I predicted that, by the way. How smart do I look? After the Marjory Stoneman Douglas school, I predicted there was going to be another shooting. How right was I? How brilliant did I look? You know (interruption) Well, it was very difficult to make that prediction. David Hogg was running around. The media was leading everybody to believe we could stop the next one. We were having sessions. We were having protests in Washington. We were having legislation to take away assault weapons.
We were going to have new gun control laws. We were going to stop the next one from happening. I threw cold water on it, and I said there will be another one. I was the only one with the courage to predict there would be another shooting. There have been many since I made that prediction. Im not exaggerating.
At that point in time, the whole point is the media wants you to think we can stop them if we just have new gun laws. We can stop them if we have new this or new that or if we get rid of Trump or whatever it is, they say. And now theyre trying to say we can stop this recession if we just dont elect Trump. We can get rid of Trump and we can stop the recession.
Now, Wilbur Ross knows full well that theres going to be another one. And he was looking at the stats that CNBC put on the screen and he said (paraphrasing), Look, youre talking about 1,000th of one percent of an inversion. Thats the yield curve, price versus yield curve in the bond market. And he said its 1/1000th of a one percent inversion, which means its still basically a straight line. And the idea that this is going to be the end of the US economy hes exactly right, this isnt going to be end of the US economy. Theres been inversions before. The bond markets been in sort of a static spot for a long time.
And the idea that its going to cause the end of the economy, which is exactly what theyre out predicting now. Now, theres one more here. Wilbur Ross was asked by Joe Kernen, Yesterdays move by the president to unilaterally delay the next round of tariffs on the ChiComs until December, was the president doing that to make it easier for consumers at Christmastime? Did China blink on anything, or was this totally the United States blinking?
ROSS: There had been all sorts of research done before. There were public hearings about what items to put on and nobody wants to take any chance of disrupting the Christmas season. We dont think
KERNAN: So youre saying we didnt extract anything from China to do this? There was no quid pro quo?
ROSS: not a quid pro quo.
KERNAN: No quid pro quo.
ROSS: It was a decision to do what we decided to do.
RUSH: Okay. So, Wilbur, hes basically giving the media what they want. You mean Trump just gave them a delay? We didnt get anything back? And Wilbur said (paraphrasing), Nope, we didnt. Weve got solid markets for the next six months and we got a good Christmas guaranteed. There was no quid pro quo.
And because there was no quid pro quo, now the Democrats can run around and the media can run around saying Trump caved. The ChiComs didnt cave, that the ChiComs are winning the trade war, making a fool of Trump. This is what theyre all wanting to say. And they are saying it, not just wanting to.
” I dont think people understand the implications of having nowhere to go at the beginning of a recession when your rates are already near zero. “
They will get to share Limbaugh’s surprise upon learning that negative interest rates exist.
With the Democrat House, you see, we aren’t getting necessary defense funding without continuing too much spending on nonessential programs elsewhere. There’s even more trouble ahead with anti-Second-Amendment legislation being proposed by way of anecdotes blown out of proportion for emotional effect. It’s reminiscent of the feminist putsches to destroy the family with similar legislation (VAWA, etc.).
The most dangerous thing about shopping at Walmart besides the germs, is the buildup of Chinese military forces including the nuclear weapons buildup in the nations of the new axis.
“Wed see more efforts towards better solutions, if we hadnt allowed the Democrats to take the House.”
Who had the House the prior two years?
“Artificially low rates for so long results in starving the middle class, savers, and seniors of badly needed cash flow that comes from bank deposits and short term Treasuries.”
We have lived with that situation since the beginning of Dubya’s administration. The poor return on Treasuries since 2001 is what had investment banks farming the subprime mortgage market for high yield paper, and the resulting housing bubble.
“Who had the House the prior two years?”
Paul Ryan Republicans, a wholly owned subsidiary of the US Chamber of Congress.
What you wrote has absolutely nothing to do with my post that your referenced.
You keep blaming whatever ails us on the Democrats. Bad as the Dems are, they would be powerless if the Republicans would fight and stand up for what is right for America.
The Democrats usually prevail because Republicans are wet noodles and allow it. Plain and simple.
Instead of blaming the existence of Democrats for everything, everyone’s time is best spent getting Republicans in there who are not afraid to do the job they took an oath to do.
Finally, if you care to go back and address my post #12 to you, feel free.
Can’t blame that on the Democrats, now can we?
Blaming one person (Ryan) for the failure of the entire Republican party is a fool’s errand.
And in case you are not aware, the stench that is the RNC needs to be cleaned up as well, namely, Karl Rove and Ronna Romney.
Still, you are getting away from the thrust of the article which is Rush claiming that our real and perceived economic problems are because of the Federal Reserve.
That is, of course, not true.
“Still, you are getting away from the thrust of the article which is Rush claiming that our real and perceived economic problems are because of the Federal Reserve.”
Considering that I’ve made that very same point I have no idea what you mean.
“Blaming one person (Ryan) for the failure of the entire Republican party is a fools errand.”
Note the ‘s’ on ‘Paul Ryan Republicans’. That means “more than one”, as in delineating a group led by him as Speaker.
You are arguing as if I disagree with you, which I don’t.
“Nine of the last four recessions have been predicted by: economists, media, the market etc .there truly is nothing new under the sun.”
Compare the interest rate with the Rest of the World PLZ!!!
Foreign banks, investment institutions, corporations and individuals are buying USTs because their rates are zero or negative. It’s free money for them. This is what’s driving the UST yields down.
It’s a global economy. Having the highest interest rate and currency is scr#wing US corporations, employers, workers and investors. Get a flipping clue!
“Trump is a republican......the sky is falling memo must have been sent out”
I’m loving the volatility. It could be the mother of all Bear Traps.
Get your own flipping clue. Your post has absolutely nothing to do with the quote I was commenting on. Learn to read before you spout off.
“Get your own flipping clue. Your post has absolutely nothing to do with the quote I was commenting on. Learn to read before you spout off.”
Talk about spouting off and ad hominem!
You posted:
“Thats just stupid. The Feds Discount Rate is still near an historic low. Its at the low end of what it considers its sweet spot of 2.5%-5%. The inverted yield curve is due to heavy buying of T Bills.”
I posted:
“Compare the interest rate with the Rest of the World PLZ!!!
Foreign banks, investment institutions, corporations and individuals are buying USTs because their rates are zero or negative. Its free money for them. This is whats driving the UST yields down.
Its a global economy. Having the highest interest rate and currency is scr#wing US corporations, employers, workers and investors. Get a flipping clue!”
Beyond this you lack basic economic comprehension of how interest rates and bonds work on the global market.
In both of your posts you fail to mention the statement by Limbaugh that I was commenting on. Learn to read.
Here, I’ll dial it in a bit for you:
“Its at the low end of what it considers its sweet spot of 2.5%-5%”
A BS statement, particularly in light of the near 0% during the Obama administration. And Greenspan just came out saying there’s nothing preventing a negative yield. Whatever metrics supported 2.5%-5% prime rate are clearly not in play anymore and haven’t been for over 10 years. It’s not the US rate in a vacuum. It’s the US rate in comparison to the REST OF THE WORLD (ROW). That’s why the ‘recession signal’ inverted yield curve is BS and manufactured by FED high rates vs ROW. This is ripping off the US courtesy of the FED-set bond yields. Got it now?
I, like many, believe that President Trump is under God's "hedge of protection."
It would explain his ability to survive the many, many attacks against him and what he's accomplished for America in terms of "righting the ship."
If white liberal elites and their global brothers want a recession they’ll create one.
FYI:
https://www.foxbusiness.com/politics/bill-maher-presses-for-recession
Millionaire Bill Maher pushes for recession
Published August 10, 2019TaxesFOXBusiness
Bill Maher is rooting for a recession to keep President Trump from winning re-election in 2020.
On HBOs Real Time with Bill Maher Friday, the 63-year-old millionaire told his audience and guests they should wish for a recession because that will definitely get Trump unelected.
We have survived many recessions, Maher said. We cant survive another Donald Trump term.
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