Posted on 08/21/2019 6:49:48 AM PDT by Moonman62
Doing great with China and other Trade Deals. The only problem we have is Jay Powell and the Fed. He’s like a golfer who can’t putt, has no touch. Big U.S. growth if he does the right thing, BIG CUT - but don’t count on him! So far he has called it wrong, and only let us down....
.....We are competing with many countries that have a far lower interest rate, and we should be lower than them. Yesterday, “highest Dollar in U.S.History.” No inflation. Wake up Federal Reserve. Such growth potential, almost like never before!
A cut would not be stimulus because the Fed is manipulating short term rates to be much higher than what the market would charge.
The Fed is working against Trump's great economic policies.
Why can’t he fire this guy?
I don’t know if he can legally fire him. I’ve read that he can demote him.
Trump won’t wait forever. Sessions was fired as soon as it was politically possible to do so.
Related FR post:
https://www.freerepublic.com/focus/f-news/3773354/posts
UPDATE 1-Germany sells new 30-year bond with negative yield, a first
Why can’t he fire this guy?
This may be 2020’s version of Russia....Deep State back at it, ”UnF’ing”
believable in the USA.
Cut spending!
No question, the Fed is working against Trump. And, he failed once again in picking his man to run it.
But if we continue to go lower in order to compete with what Germany and others are doing, we will be in the territory of negative interest rates very soon—which is its own major tax on savings in particular.
And, he failed once again in picking his man to run it.
...
There was some hope for Powell because he was an outsider.
It’s easy to criticize from the sidelines.
But if we continue to go lower in order to compete with what Germany and others are doing, we will be in the territory of negative interest rates very soon—which is its own major tax on savings in particular.
...
We should go lower because the Fed is manipulating short term rates to be higher than what the market would charge.
We are cutting taxes and regulations which the Germans aren’t doing.
Your comment reminds me of the time I asked my cousin, who has a masters degree in finance and is a banker, a question about money. About a minute or two into her answer I realized I was in way over my head.
Think of it like this. You borrow $1000 from the bank at 2% interest. Then you borrow $1020 at 2% interest from another bank to pay back the initial loan. Now you owe $1020 plus 2% interest on that. It never pays off the initial $1000. But the debt just keeps building up.
“Only equity can repay debt.“
This is true, but fiat money is only part of the Ponzi scheme that’s screwing us. Deficit spending, taxation, regulation, fiat money creation - all of these mechanisms are being used (abused) for unauthorized wealth redistribution - essentially legal plunder.
Some amount of wealth redistribution is a good thing - authorized by the people according to our constitution and via our elected representatives - for a social safety net, for national defense, etc..
But the massive wealth redistribution happening increasing exponentially over the last hundred years or so far, far exceeds the authorized amount. Private sector wealth is being milked and redistributed via fiat money creation for the benefit of the banking cartels, but also by other powerful players via other wealth transfer mechanisms, such as taxation, regulation and spending programs.
Trying to stop the unauthorized wealth redistribution by reforming the Fed alone would be like squeezing a balloon - the problem would simply manifest in other forms.
The Fed needs to be replaced with an honest central bank that is subject to the will of the people, but the rest of the problems need to be addressed at the same time - eliminate the abuse of government spending programs, eliminate the abuse of taxation, eliminate the abuse of regulatory control.
All of these mechanisms are being abused so that powerful people can legally plunder wealth from the rest of us.
Until we either get rid of or bypass the Federal Reserve bank to create US dollars cutting spending will do nothing to reduce the debt. It will be an infinitesimal reduction because at present we cannot reduce the debt. We just pay interest on it.
Which is not to say the size and scope of the US government does not need to be reduced. It does. Our entitlement programs do need to be reformed. We do not spend our money wisely.
In this analogy the $1000 is M1? Eventually some of the money is from China.
I do like the analogy of: If you borrow a million dollars from your bank and you can't pay back you are in trouble. I you borrow a hundred million from your bank and you can't pay back your bank is in trouble.
Mr. President, you appointed him.
Yes. Cut spending. Bigly.
I’d like to abolish at least 9 departments.
We should reduce the debt ceiling. It might force them to cut spending.
END THE FED!!!!
“Until we either get rid of or bypass the Federal Reserve bank to create US dollars cutting spending will do nothing to reduce the debt.”
I agree totally but the reverse is also true - unless government spending is controlled, holding the fed accountable will accomplish nothing.
Here’s how I think it would play out: Let’s say you were to successfully replace the Fed with a central bank that was accountable to the people - thus freezing out the bank cartels, dealing them a huge loss. I say you would only be cutting off one head of a many headed serpent.
The very next day, a different head of the same serpent, namely the banking cartel’s K street lobbyists and their puppets in Congress, would approve an x trillion $ bailout that would make them whole.
Bailouts are part of government spending - so government spending is not always infinitesimal, it’s whatever it needs to be to serve the powerful people at the top. They will get their money one way or another.
Whatever they can’t get through taxes and regulatory control, they will get by government spending, or fiat money. It’s like squeezing a balloon - you need to pop the balloon - cut off all the heads at once and make sure the serpent is dead. IMHO. :-)
I think President Trump is doing an amazing job - but what he’s up against is a thing of nightmares. The only way Donald Trump wins this fight is by inspiring patriots - waking enough of us up.
FReepers are always talking about CW2, but I think it’s another American Revolution we need, not another Civil War.
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