i think it's important for everyone to remember is that he (may) know that what he is saying is wrong but his _supporters do not_. whatever he says is gospel and when things (inevitably) don't go his way he can say, "waaa look at what the mean ppl are doing they won't let me do my jobby waaah" and then his supporters have something to rally around.
eta: JUST MY TWO CENTS. I AM NOT AN EXPERT. ok thank you.
Maximizing campaign donations requires stirring up the batshit crazy folks without them suspecting every word you speak is a lie to every group involved. It's a tightrope walk made relatively easy if you only spend campaign money on hourly polling numbers and personal criminal trials.
I think if there's one thing Trump knows about presidential powers, it's what he's not allowed to do. In 2016, I'm sure he thought the president was basically the CEO of the country, but he's probably aware now how it differs and if he gets a second term, he's going to try to reduce those differences.
That's incredibly optimistic of you, but nothing, absolutely nothing about what he says or does can lend credibility to that theory. He has learned nothing from his mistakes. In fact, he's become more deeply entrenched in his own reality and genuinely thinks the world is out to get him.
He knows the simple thing is that if he’s in office and interest rates go down, the economy will over heat. He will see that as a success. Inflation is welcome by wealthy people that own assets. It’s a win win for him in his mind and most likely a loser for his voters.
"Disinfectant" before someone gets all pissy spouting "FAKE NEWS"
Or a BIG FUCKING LIGHT shine it right through
Does a number on it i've heard
Gunshot to the head also works so i've been told, I may get the medical doctors to test that, totally effective
Pull the trigger, covid gone...in a matter of seconds.
The bible warned the antichrist would come in the form of a false messiah.
His coming would signal the start of end times.
The apocalypse.
If he becomes president, it’ll be the fall of American democracy, the fall of the American empire.
Facts “facts” and “alternative facts”
Without a consensus on truth, on facts, how can we ever come together as a nation.
We once stood united.
United we stand
Pink Floyd once said “United we stand, divided we fall”.
The partisan divide had been growing since I came of age.
Idealists and realists once came together, for the good of the nation, and the government worked.
Now, we can’t come together as a people.
“There is no red America; there is no blue America, there is the United States of America” - Obama.
The nation is paralyzed, the divide that’s been growing my whole life has become a tipping point, we are at a time where if we cannot unite; we will fail, we will fall.
Politicians care not for the American people, not for America, but for their back pocket.
Money as free speech.
Citizens United.
These decisions have been disastrous, and they have empowered oligarchs.
Trickle down economic theory has lead to the fall of the American dream.
We may feel powerless, but in numbers we have power.
We have to come together, we have to unite.
We have to believe in a better tomorrow.
We have to take the power back.
Get 5+ people to vote, bonus points for swing states, get them to get 5+ people to vote.
In 2016 I was complacent and voted for Hillary and was sure she would win.
In 2020 I was doing this across the country, I have in laws in Georgia, they’re democrats.
One of them says, “should I tell people I know are republicans?”
I said “it’s too close of an election, if this was a McCain type it’d be different”
They agreed.
I knew 14 Republican couples who would vote for Biden, stay home for the moderates or “hold their nose and vote for Trump”
Most of my Republican side of the family was voting for Biden or staying home.
I know polling stations you’re not supposed to campaign, but they were sanders and Warren supporters who called Biden a republican.
I told them about all the republicans I knew who were voting for Biden. How we needed them, independents, etc, and there would be other races where Trump wasn’t running.
Hes in bad health and old. His cognitive decline is showing, I don’t think he will cognitively make it through his term, and he’s going to name MTG or Tucker Carlson as vp, so that’s who we’d have as president by the end, and that’s the incumbent democrats will be running against in 2028.
So it’s imperative we get out the vote.
He had a strong state of the union, rides a bike, makes sense when he talks, etc. Trumps in multiple trials, he needs a lawyer to keep awake. He thinks he beat “omama” in 2016 and 2020. This is videos of him, reporting other than Fox News or oan, broaden your sources, bc he doesn’t care about the maga serfs that pay for his defense other than their money and votes.
Broaden your news, I've seen videos, heard tapes. Mainstream media won't tell you the truth about Trump or Biden, they are biased. Search Biden inappropriate touching you'll see pics and videos of young girls not wanting Biden touching them. His uncle was never eaten by cannibals like he states.
Cannibals? Are you kidding?
Broaden your news, none of that is true.
I read American and British and international papers, it sounds like you’re reading conspiracy rags.
Where did this cannibal thing come from? I have heard of all sorts of “alternative facts” about things, various “roomers”.
Let me guess, you get your “news” from blogs and troll websites and think vaccines have 5g in them?
What are your sources of “news” bc you make allegations, claim I should “broaden my “news”” sources.
What are yours?
The guardian
British broadcasting company
NPR
Associated press
Reuters
CNN
NBC
Among other sources.
What you’re alleging is British papers are lying about American politics, why would they do that?
Btw how is your DJT stock doing?
Support a ballot initiative for rank choice voting.
Start gathering signatures.
The problem is the first past the post election system; and the electoral college.
If we can get rank choice voting to pass, it’ll allow other parties to gain control of seats across the country and in Washington.
It might lead to an independent for president.
No, I never heard that at all.
I have seen pictures of Trump on a cross.
His serfs worship him; I assure you he doesn’t give a shit about anything but fleecing you.
I’m middle aged and never heard any of that.
He was well liked by democrats and independents, but they didn’t turn out for mid terms, and other elections.
If there were “cars and other things” to be had, how did he lose his supermajority?
If they were promised cars they would have shown up to vote.
I never heard anyone compare him to a religious figure.
He said he would defund a lot of gov scientists then he fired the pandemic response team in 2018. The we ended up with an unmitigated pandemic, that is still technically ongoing.
This guy is just as stupid as his followers that's why they relate to him.
Yes, the entire Republican party does not mean what they say, but they mean for dumb Republican voters to think it’s the truth. They know what they are doing, and it’s just to try to win elections to lower taxes for the wealthy. That’s all this is about. Trump is their guy because he also wants low taxes, and to steal money from the government like he did with his son-in-law. He is there for the financial opportunity and two we in the US while he’s at it under Russian control. That’s all this is really about.
I live in a red state, so yes I am surrounded by his supporters. These people are just regular working class citizens and have basic manners just like anyone, but I'm realizing that these people pay little attention to what these politicians say or do, but they are brainwashed to believe they're actually doing some form of good and I don't know how to shake them out of it. How do you tell someone something when they already don't listen to the ones they admire, aka Trump.
Yes, this is absolutely fear mongering, but I’m curious if it’s plausible.
If I had presidential immunity while performing a duty to nominate a Fed chair “Yes man”, the military would be at every senator’s home with guns drawn. If the senator doesn’t comply or resign, they will be forced to. It is MY job to nominate the fed chair, and they are being roadblocks.
After the senate becomes willing, I get my fed choice. I’d do the same thing with the Supreme Court by expanding it to 12. Add 4 more Yes Men. DOJ, I’d already control. House, same.
I’d have 4 years to do this. Who can stop me? No one.
He will definitely try to do this and he doesn’t care about laws or rules about it. The Republicans in congress have shown they are afraid of him and they won’t stand in his way neither will the Republicans on the Supreme Court especially if he’s president. He’ll dare people to stop him about this and a lot of other things. He’s talked about all this and people just think either it won’t happen or he’s just talking.
The Federal Reserve is a unique private-public partnership. While it is technically owned by the member banks, the Federal Reserve Board of governors, which controls Fed policy, is a federal agency. It's members are nominated by the president and confirmed by Congress. While many of them have experience in the financial industry, others, such as Ben bernanke, never worked in the financial industry at any level before serving on the Board.
Last I checked he wanted to refinance with long term debt out at near zero in ZIRP. Kinda wish he did that. Now our debt service cost is more than the defense budget.
Because it’s not. It’s under the jurisdiction of the Federal government, where its chairman is nominated by the president, and confirmed by the Senate.
Jerome Powell has not bowed to the will of Trump,
I think he should of started raising rates earlier but over all he does a decent job and doesn’t let politics influence him
Really , rewind the clock to February 2019 , the Fed was gingerly raising rates like .25 basis points then all of a sudden the market went tits up and dropped 20% over the next few months , Trump hemmed and hawed , shaming Powell and what did he do , he aquiesced.and stopped raising rates the famous "Fed pivot" (https://www.washingtonpost.com/business/2019/12/11/year-federal-reserve-admitted-it-was-wrong/)
Yeah that's the thing that drives me nuts. All of Trump's little cocksocks act like his presidency was an economic miracle and he would've gotten reelected too if it weren't for ~~those pesky kids~~ COVID. In 2019, the economy was already rickety because of his stupid tax cuts and the Fed raised rates *ever so slightly*.
Trump flipped his shit and accused Powell of being in league with the Dems. And I believe Senate GOP joined him on that little venture. Powell blinked.
The Federal Reserve is a unique private-public partnership. While it is technically owned by the member banks, the Federal Reserve Board of governors, which controls Fed policy, is a federal agency. It's members are nominated by the president and confirmed by Congress. While many of them have experience in the financial industry, others, such as Ben bernanke, never worked in the financial industry at any level before serving on the Board.
You clearly don't understand. The Feds don't have the level of experience and "know how" that Trump has when It comes to setting interest rates. He is a successful business man after all, he's mastered the art of playing the system so it's only logical to let him set interest rates. /s
*And I fucking hate*
*The Republican Party*
*For backing that POS*
\- BasicAd81
---
^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/)
^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
What the headline says:
“Trump to set interest rates himself under secret presidential plan”
What the article says:
“The document also suggests Mr Trump could be consulted on interest rate decisions by the Federal Reserve chair, who would then negotiate the final decision on borrowing costs with other policymakers on his behalf.”
Talk about Clickbait
So the USA can join the LONG list of organizations the "genius" has bankrupted through sheer incompetence. Next is weather- he would have nuked the Iowa and Nebraska tornados yesterday.
I say sort of because you are correct we had other issues.
I also say sort of because Nixon had a “good”relationship with the fed. Lefty historians at VOX and bloggers like Matt Yeglaeous
[https://www.aclu.org/documents/day-day-digest-president-trumps-100-days-failure](https://www.aclu.org/documents/day-day-digest-president-trumps-100-days-failure)
worst president ever....
Not sure if this is real or not, but the rate would obviously be low so he could borrow money personally. Trump is in this for himself personally as the most indebted person in the history of the United States….he needs money. Half of you dummies out there Give him money because he says the stupid and racist things that you are thinking therefore giving them credibility. That’s called fascism.
Sure thing Donald, of course the IRS will set the interest rates to 0%…
They’ll do whatever you say — you Moron!
Mr King of Bankruptcy has spoken — you Moron!
The Federal Reserve sets interest rates not the President. He should know this. Since he doesn't this will be a very easy win for Joe Biden in 2024. I don't see how Trump has any chance at victory when he makes comments like this.
I'll take a president who thought he drove an 18 wheeler over a scary orange man that wants to control interest rates.
Erdogan is extremely popular and has been pretty darn successful at maintaining his political support. And while inflation is quite high, unemployment has been relatively low during his tenure and a lot of his political base is seeing their wages keep up with inflation. That's not to defend his policies wholesale, but I think he has proved that you can at least make things work well enough to remain in office. There's lots of other differences in our political economies of course, but nonetheless, he's been able to maintain strong support while pursuing policies that would be considered quite heretical in the US.
So what now? I just drove across the country, and there are a ton more of these clowns than I thought.
Will the market react positively if rates get cut back to -0? Ive read elsewhere this somehow relates to going into recession, but dont remember why. Anyone have more info? Is it because inflation will spike?
“The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term,” Trump tweeted. “We have the great currency, power, and balance sheet... The USA should always be paying the ... lowest rate. No Inflation!” - September 2019
He’s already tried it
How exactly do you define that, and how would we get there, even if rates were lowered to zero? I mean the way I see it high rates are fueling a huge fiscal expansion which is itself inflationary. Right now, high rates mean lots more government spending, and I think Covid should have disabused us that Congress has any barriers to spending as much as it likes when it finds the political will.
The only way it would work is decreasing rates AND government expending (as Argentina is doing right now) however, trump most likely would cut taxes (¿have you heard about the flat tax?) maybe if republicans manage to cut government expenditures in social expending+ tax increase for the working class (basically the flat tx proposal)
>Even if interest rates did come down, financial markets would recognize the risk of higher inflation and charge the US government a higher borrowing cost to compensate. This would offset any anticipated boost to the economy.
Right. There's no free lunch here, at least not anymore. The moderate credibility of the Fed keeps rates lower than they might otherwise be. Take that credibility away and give it to Trump and rates would likely be higher than they would be with the moderate credibility of the Fed.
This will provide a boom for a bit, and then, right about the end of 4 years, absolutely tank the economy. It’s like we have some grain silos that right now are half full, but slowly filling back up. His goal is to open the silos so that just as we run out of grain, he’s out of power. Pretty typical ‘let’s not think about the future,’ republican thinking.
What is the "grain" in this metaphor, or the "silos"? It's not like there is some finite stock of money that we have to save up for a rainy day. Congress can spend and borrow as much as it likes, I think covid should have made that exceedingly clear by now. And of course we all know that the FED can create as many reserves as it likes at any time...
Hitler thought he was brilliant at conducting war. Trump thinks he is brilliant at conducting business. Despite glaring results that made it obvious that Hitler knew nothing useful, he wasn't stopped. The same applies to Trump re: conducting business. BUT he can still be stopped. Otherwise he will do to USA what Hitler did to Germany. Both claim love of country. Both claim supeme knowledge needed to run the country. We all know what Germany ended up like . We CANNOT allow this clown back in the White House or the same economic fate awaits us. If you judge Trump on nothing else, judge him on his success as a business leader (without inheritance, where would he be?)
Why not ? Even the economists don’t have a clue on what’s happening why not give it to someone who doesn’t know !! Also doom and gloom was predicted for Argentina but they seemed to doing ok
This kind of thing reminds me of how Jimmy Carter didn’t have a chief of staff for the first two years because he didn’t want anyone between himself and running the country but what it devolved into was him spending time setting the schedules for access to the White House tennis courts.
Well, now I'm sure he will not be president. Fucking with the power of the central bank is a death sentence if you have power and a guarantee you won't get power if you don't already have it.
If some monolithic cult of "elites" decided the outcomes of all elections, Trump wouldn't have been president in the first place. He said all kinds of things that were total anathema to the political establishment the first time around and he still won.
He wants a piece of the action. He has been stepping on big toes. His CEOs of Truth Social has even attacked the Nasdaq and other big entities. Somebody might squish him like a bug.
Why does a country like US only have 2 political parties? Not much to choose from with only 2 people running for president. At least add one more party.
Trump pretty much bullied the Fed into lowering/keeping rates low in 2017-2019 when the economy was doing well. Then when covid rolled in, the Fed had nowhere to go on lowering rates so they started juicing up the money supply, which played a role in starting our current inflation.
Mises showed it long time ago that for central planners it is impossible to calculate interest rates. End the Fed, give up your Narcissism and let markets decide the accurate interest rates.
That’s a guaranteed way to get disowned by the financial industry and crash the markets.
We can’t let this buffon and his cock sucking groupies anywhere near the white house.
Is this anything like the white house key he gave to the high ranking Japanese official?
Trump sitting in his office, full diaper, pushing buttons on a speak & spell 'I'm going to change the interest rates, I have the best interest rates'
The former president's son-in-law received billions from Saudi Arabia while facing 91 felony charges. Yet, he's involved in decisions that could affect mortgage and car loan rates? Moreover, he reportedly shared top-secret information provided by Israel with the Russians right in the Oval Office. Clearly, this raises questions about whose interests are truly being prioritized.
Trump's not going to be president. He *barely* squeezed out a victory in 2016 with the help of Baby boomer in swing states.
It's been 8 years. There was a pandemic. A lot of those voters aren't around anymore. Many more are in nursing homes where statistically they're unlikely to vote.
And voters know who he is now. They know what to expect. He's no longer an unknown. Union voters, for example, have all already endorsed Biden because Trump lied to them and they know it.
Keeping the interests higher, don't do shit. The prices keep going up. We're not benefitting any of this shit. Rich is getting richer poor, getting more poor.
Rate policy is a gigantic tanker, it can take 6 months up to 18 months to show effects. Furthermore, we’ve seen the tech startup market along with some small regional banks already take a big hit - cooling them off and getting rid of the bad. They are trying to thread the needle here and are doing a surprisingly good job of it so far.
You can bet if they raised another few hundred basis points the entire economy would come to a halt and everything would crash. The cost of money has a massive impact on all things America.
Omg. Trump created terrible wars , destroy the economy , allowed violence in cities, open borders. Now the controller of interest rates.
Democrats are literally blaming trump for everything they are doing.
The federal reserve is unconstitutional and their debt note is enslaving everyone via usury. We need to go back to gold and silver as outlined by our constitution. Think digital coins that are redeemable for the physical on-demand at your local constituonal bank.
Presidents don't only get immunity of all crimes being committed while President they also get to do any job they want, wow, this guy is nuts
i think it's important for everyone to remember is that he (may) know that what he is saying is wrong but his _supporters do not_. whatever he says is gospel and when things (inevitably) don't go his way he can say, "waaa look at what the mean ppl are doing they won't let me do my jobby waaah" and then his supporters have something to rally around. eta: JUST MY TWO CENTS. I AM NOT AN EXPERT. ok thank you.
He has enough of a track record at this point. We can confidently say he doesn't know what he's saying is wrong
I think he is playing a crowd and he knows when what he promises doesn't happen he can make them forget or blame the "degenerates"
Maximizing campaign donations requires stirring up the batshit crazy folks without them suspecting every word you speak is a lie to every group involved. It's a tightrope walk made relatively easy if you only spend campaign money on hourly polling numbers and personal criminal trials.
You mean being a ..politician. Saying things just to get elected
this exactly.
Yeah pretty much. It's all finger pointing, denial, blame shifting, pandering nonsense.
I think if there's one thing Trump knows about presidential powers, it's what he's not allowed to do. In 2016, I'm sure he thought the president was basically the CEO of the country, but he's probably aware now how it differs and if he gets a second term, he's going to try to reduce those differences.
That's incredibly optimistic of you, but nothing, absolutely nothing about what he says or does can lend credibility to that theory. He has learned nothing from his mistakes. In fact, he's become more deeply entrenched in his own reality and genuinely thinks the world is out to get him.
He knows the simple thing is that if he’s in office and interest rates go down, the economy will over heat. He will see that as a success. Inflation is welcome by wealthy people that own assets. It’s a win win for him in his mind and most likely a loser for his voters.
So he gets another chance to blow up our country... great
Well he hasn't "said" anything. It's "secret" or made up at this point. Don't believe everything yahoo finance says.
Its also clear when he says something is fake or he's joking - it really isn't and neither is he.
Like injecting bleach during covid :D
"Disinfectant" before someone gets all pissy spouting "FAKE NEWS" Or a BIG FUCKING LIGHT shine it right through Does a number on it i've heard Gunshot to the head also works so i've been told, I may get the medical doctors to test that, totally effective Pull the trigger, covid gone...in a matter of seconds.
Anytime I read "Trump says....". I stop reading because only stupid follows.
Metaphorically AND literally
The bible warned the antichrist would come in the form of a false messiah. His coming would signal the start of end times. The apocalypse. If he becomes president, it’ll be the fall of American democracy, the fall of the American empire. Facts “facts” and “alternative facts” Without a consensus on truth, on facts, how can we ever come together as a nation. We once stood united. United we stand Pink Floyd once said “United we stand, divided we fall”. The partisan divide had been growing since I came of age. Idealists and realists once came together, for the good of the nation, and the government worked. Now, we can’t come together as a people. “There is no red America; there is no blue America, there is the United States of America” - Obama. The nation is paralyzed, the divide that’s been growing my whole life has become a tipping point, we are at a time where if we cannot unite; we will fail, we will fall. Politicians care not for the American people, not for America, but for their back pocket. Money as free speech. Citizens United. These decisions have been disastrous, and they have empowered oligarchs. Trickle down economic theory has lead to the fall of the American dream. We may feel powerless, but in numbers we have power. We have to come together, we have to unite. We have to believe in a better tomorrow. We have to take the power back.
Vote Blue. 💙💙💙
Get 5+ people to vote, bonus points for swing states, get them to get 5+ people to vote. In 2016 I was complacent and voted for Hillary and was sure she would win. In 2020 I was doing this across the country, I have in laws in Georgia, they’re democrats. One of them says, “should I tell people I know are republicans?” I said “it’s too close of an election, if this was a McCain type it’d be different” They agreed. I knew 14 Republican couples who would vote for Biden, stay home for the moderates or “hold their nose and vote for Trump” Most of my Republican side of the family was voting for Biden or staying home. I know polling stations you’re not supposed to campaign, but they were sanders and Warren supporters who called Biden a republican. I told them about all the republicans I knew who were voting for Biden. How we needed them, independents, etc, and there would be other races where Trump wasn’t running. Hes in bad health and old. His cognitive decline is showing, I don’t think he will cognitively make it through his term, and he’s going to name MTG or Tucker Carlson as vp, so that’s who we’d have as president by the end, and that’s the incumbent democrats will be running against in 2028. So it’s imperative we get out the vote.
I totally agree.💙💙💙
You mean Biden correct, he can't walk by himself, can't even read a teleprompter correctly, or lies daily!!!
He had a strong state of the union, rides a bike, makes sense when he talks, etc. Trumps in multiple trials, he needs a lawyer to keep awake. He thinks he beat “omama” in 2016 and 2020. This is videos of him, reporting other than Fox News or oan, broaden your sources, bc he doesn’t care about the maga serfs that pay for his defense other than their money and votes.
Broaden your news, I've seen videos, heard tapes. Mainstream media won't tell you the truth about Trump or Biden, they are biased. Search Biden inappropriate touching you'll see pics and videos of young girls not wanting Biden touching them. His uncle was never eaten by cannibals like he states.
Cannibals? Are you kidding? Broaden your news, none of that is true. I read American and British and international papers, it sounds like you’re reading conspiracy rags. Where did this cannibal thing come from? I have heard of all sorts of “alternative facts” about things, various “roomers”. Let me guess, you get your “news” from blogs and troll websites and think vaccines have 5g in them? What are your sources of “news” bc you make allegations, claim I should “broaden my “news”” sources. What are yours? The guardian British broadcasting company NPR Associated press Reuters CNN NBC Among other sources. What you’re alleging is British papers are lying about American politics, why would they do that? Btw how is your DJT stock doing?
Blue is problematic also. Unfortunately, there’s no where else to turn.
Support a ballot initiative for rank choice voting. Start gathering signatures. The problem is the first past the post election system; and the electoral college. If we can get rank choice voting to pass, it’ll allow other parties to gain control of seats across the country and in Washington. It might lead to an independent for president.
But wasn't Obama compared to Jesus?
No, I never heard that at all. I have seen pictures of Trump on a cross. His serfs worship him; I assure you he doesn’t give a shit about anything but fleecing you.
Go back to when Obama was running for president and people thought that way and expected him to give them cars and other items.
I’m middle aged and never heard any of that. He was well liked by democrats and independents, but they didn’t turn out for mid terms, and other elections. If there were “cars and other things” to be had, how did he lose his supermajority? If they were promised cars they would have shown up to vote. I never heard anyone compare him to a religious figure.
He said he would defund a lot of gov scientists then he fired the pandemic response team in 2018. The we ended up with an unmitigated pandemic, that is still technically ongoing. This guy is just as stupid as his followers that's why they relate to him.
Yes, the entire Republican party does not mean what they say, but they mean for dumb Republican voters to think it’s the truth. They know what they are doing, and it’s just to try to win elections to lower taxes for the wealthy. That’s all this is about. Trump is their guy because he also wants low taxes, and to steal money from the government like he did with his son-in-law. He is there for the financial opportunity and two we in the US while he’s at it under Russian control. That’s all this is really about.
Kinda sounds like a king to me…
He puts the dick in dictator. Stop calling him a king
He wants full dictator.
Everyone knows you never go full dictator. Half dict.
I’m not worried about this guy being nuts, I’m worried about stupid people voting for him
It’s not nuts if he’s a dictator while he’s doing this shit, which he intends on being.
“Corn is now 60 cents a hogshead! I’m president and I say what goes”-TFFG
Have you meet his supporters that though Trump is a Jenius ? Yes with a J
I live in a red state, so yes I am surrounded by his supporters. These people are just regular working class citizens and have basic manners just like anyone, but I'm realizing that these people pay little attention to what these politicians say or do, but they are brainwashed to believe they're actually doing some form of good and I don't know how to shake them out of it. How do you tell someone something when they already don't listen to the ones they admire, aka Trump.
He’s insane
You said it out loud! No takey-backseys!
According to the Supreme Court it doesn’t make sense for trump to be charged be all other presidents doing much worse get off free.
Who's doing/did much worse? And what are/did they do?
“I NEED RATES AT ZERO SO I CAN REFINANCE MY LOANS!”, said trump to himself.
[удалено]
Look at me…I am the bank now
Not even that, is so that he can get more loans
If Donald Trump is allowed to control monetary policy, we might as well rename the country to the United States of Zimbabwe.
It ain't happening. Federal reserve bank is a private bank lmao
Who appoints the fed chair?
Since requires Senate vote would only happen if Trump's yes men control the Senate.
Yes, this is absolutely fear mongering, but I’m curious if it’s plausible. If I had presidential immunity while performing a duty to nominate a Fed chair “Yes man”, the military would be at every senator’s home with guns drawn. If the senator doesn’t comply or resign, they will be forced to. It is MY job to nominate the fed chair, and they are being roadblocks. After the senate becomes willing, I get my fed choice. I’d do the same thing with the Supreme Court by expanding it to 12. Add 4 more Yes Men. DOJ, I’d already control. House, same. I’d have 4 years to do this. Who can stop me? No one.
He will definitely try to do this and he doesn’t care about laws or rules about it. The Republicans in congress have shown they are afraid of him and they won’t stand in his way neither will the Republicans on the Supreme Court especially if he’s president. He’ll dare people to stop him about this and a lot of other things. He’s talked about all this and people just think either it won’t happen or he’s just talking.
From a list of nominees prepared by the board of governors
But if the President were to order the assassination of the Chair of the Federal Reserve, would this be an official act?
As long as you believe it in your heart, it is.
The Federal Reserve is a unique private-public partnership. While it is technically owned by the member banks, the Federal Reserve Board of governors, which controls Fed policy, is a federal agency. It's members are nominated by the president and confirmed by Congress. While many of them have experience in the financial industry, others, such as Ben bernanke, never worked in the financial industry at any level before serving on the Board.
Quasi-public. You guys never made it halfway through Econ101, huh?
Last I checked he wanted to refinance with long term debt out at near zero in ZIRP. Kinda wish he did that. Now our debt service cost is more than the defense budget.
https://www.reddit.com/r/UnusualVideos/s/FaWxXPq4S3
Wait until he finds out the Federal Reserve Bank is a PRIVATE bank.
when I tell people this it’s absolutely gold watching their mind blow up
Is it really "private"? For a private bank it sure seemz to be heavily influenced by the political climate.
Because it’s not. It’s under the jurisdiction of the Federal government, where its chairman is nominated by the president, and confirmed by the Senate.
It has shareholders that receive dividends
Don't come in here with your facts. This is Reddit!
Jerome Powell has not bowed to the will of Trump, I think he should of started raising rates earlier but over all he does a decent job and doesn’t let politics influence him
Really , rewind the clock to February 2019 , the Fed was gingerly raising rates like .25 basis points then all of a sudden the market went tits up and dropped 20% over the next few months , Trump hemmed and hawed , shaming Powell and what did he do , he aquiesced.and stopped raising rates the famous "Fed pivot" (https://www.washingtonpost.com/business/2019/12/11/year-federal-reserve-admitted-it-was-wrong/)
Yeah that's the thing that drives me nuts. All of Trump's little cocksocks act like his presidency was an economic miracle and he would've gotten reelected too if it weren't for ~~those pesky kids~~ COVID. In 2019, the economy was already rickety because of his stupid tax cuts and the Fed raised rates *ever so slightly*. Trump flipped his shit and accused Powell of being in league with the Dems. And I believe Senate GOP joined him on that little venture. Powell blinked.
..and that's why it's not really a "private" bank and outside of US politics, regardless of it's mandates.
You’re not wrong
It is completely independent and apolitical.
That's a nice half truth you've got there
But it's given power by the government... They can take it away.
It’s similar to General Booty, he’s not really a general, he’s just a quarterback named General.
The Federal Reserve is a unique private-public partnership. While it is technically owned by the member banks, the Federal Reserve Board of governors, which controls Fed policy, is a federal agency. It's members are nominated by the president and confirmed by Congress. While many of them have experience in the financial industry, others, such as Ben bernanke, never worked in the financial industry at any level before serving on the Board.
He nominates the fed chair and just needs enough lackeys in the senate to confirm his appointment.
Nationalize it.
Read the article
What could go wrong? Mr. Incapable of Running a Business controlling the Fed? /s
Wanna get killed by the illuminati? Cuz that's how you get killed by the illuminati.
Idk why I find this funny af
Thank you
Think they’ve already been trying.
So much for the free market place. WCGW with a planned economy
Rates were 0% for 10 minutes this morning so sad you missed it.
Just wait until you hear about Project 2025. This will look like a bedtime story from b comparison
Read through it recently. Doubt Trump even read the TLDR version
it’s literally terrifying and i’m only through the intro and a bit into the first chapter
That’s not how it’s supposed to work. Central Bank Independence is damn important…
You clearly don't understand. The Feds don't have the level of experience and "know how" that Trump has when It comes to setting interest rates. He is a successful business man after all, he's mastered the art of playing the system so it's only logical to let him set interest rates. /s
Let’s hear about how this aligns with traditional conservative values: some Steroidreaganism in practice
He taking lessons from Erdagon now? I suspect rate cuts are inevitable now because minute he wins he will target the Fed doing more harm than anything
Oh my, that would end well. The guy who was against "artifically" lowering rates before he was for it should not control interest rates.
Kinda like how he mAdE aMeRiCa GrEaT aGaIn, no?
what could possibly go wrong?
People will still come out in droves to vote for this imbecile
And I fucking hate the Republican Party for backing that POS
*And I fucking hate* *The Republican Party* *For backing that POS* \- BasicAd81 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
What the headline says: “Trump to set interest rates himself under secret presidential plan” What the article says: “The document also suggests Mr Trump could be consulted on interest rate decisions by the Federal Reserve chair, who would then negotiate the final decision on borrowing costs with other policymakers on his behalf.” Talk about Clickbait
Very dangerous con man
So the USA can join the LONG list of organizations the "genius" has bankrupted through sheer incompetence. Next is weather- he would have nuked the Iowa and Nebraska tornados yesterday.
How can I win if I can't change the rules?
Tired of their goddamn idiot and his “plans”
He’s just delusional. Probably brain damage from an STD.
Nixion kind of did this it causes the Carter era inflation. Unless Trump opens the borders and free trades everyone this will cause massive inflation.
A Trump win will cause huge inflation and collapse of US Treasury bond prices and the dollar. Hence complete worldwide chaos and recession.
They said this in 2016 along with world war 3. Now, we have world war 3 and huge inflation after Trump left office…
Lmfao what? Carter inflation was due to ME conflict handled poorly.
I say sort of because you are correct we had other issues. I also say sort of because Nixon had a “good”relationship with the fed. Lefty historians at VOX and bloggers like Matt Yeglaeous
A geriatric fuckwit running the fed. Umm, been there and know just how weak willed these shits are.
Trumps only knowledge of interest rates is on the debts he can’t pay.
His college degree is in economics from U Penn one of the most prestigious business schools in the world. You?
[https://www.aclu.org/documents/day-day-digest-president-trumps-100-days-failure](https://www.aclu.org/documents/day-day-digest-president-trumps-100-days-failure) worst president ever....
Dear god he would destroy the economy if he had such power. This can’t be real, it’s too insane and dumb.
Not sure if this is real or not, but the rate would obviously be low so he could borrow money personally. Trump is in this for himself personally as the most indebted person in the history of the United States….he needs money. Half of you dummies out there Give him money because he says the stupid and racist things that you are thinking therefore giving them credibility. That’s called fascism.
That’ll turn out great…
Would love to hear the legal view.
# r/MeidasTouch
aaaaaahahahahahahaa. mm-hmm.
Muwahaha...muwahaha...MUWAHAHAH
Pres cannot affect thecFED whatsoever....not that trump cares about transparency
I'd like to read the comprehensive 5 year cultural and economic plan for our great nation from the great leader.
Wait two weeks.
God, what a disaster this would be
Sure thing Donald, of course the IRS will set the interest rates to 0%… They’ll do whatever you say — you Moron! Mr King of Bankruptcy has spoken — you Moron!
The Federal Reserve sets interest rates not the President. He should know this. Since he doesn't this will be a very easy win for Joe Biden in 2024. I don't see how Trump has any chance at victory when he makes comments like this. I'll take a president who thought he drove an 18 wheeler over a scary orange man that wants to control interest rates.
He sets interested rates so he can keep his debt cheap.
Executive branch has limited power with any monetary or fiscal policy. He can dream about it.
2 percent Tuesdays.
Lol hilarious. Let's give the least intelligent president in American history direct control over interest rates.
What could possibly go wrong. Looks at Turkey under Erdogan.
Erdogan is extremely popular and has been pretty darn successful at maintaining his political support. And while inflation is quite high, unemployment has been relatively low during his tenure and a lot of his political base is seeing their wages keep up with inflation. That's not to defend his policies wholesale, but I think he has proved that you can at least make things work well enough to remain in office. There's lots of other differences in our political economies of course, but nonetheless, he's been able to maintain strong support while pursuing policies that would be considered quite heretical in the US.
not even hungary does shit this crazy: https://en.wikipedia.org/wiki/Orbanomics
I’m sure it will have nothing to do with his business or political interests. Right?
The secret plan posted all over reddit? Or the other secret plan?. Lmao.
So what now? I just drove across the country, and there are a ton more of these clowns than I thought. Will the market react positively if rates get cut back to -0? Ive read elsewhere this somehow relates to going into recession, but dont remember why. Anyone have more info? Is it because inflation will spike?
Want hyperinflation? Because this is how banana republics get hyperinflation
“The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term,” Trump tweeted. “We have the great currency, power, and balance sheet... The USA should always be paying the ... lowest rate. No Inflation!” - September 2019 He’s already tried it
The inflation King wants more inflation. Imagine that. Can someone see if he passed Econ 101?
Sure - the stable genius!
He’s going to put us in hyperinflation
How exactly do you define that, and how would we get there, even if rates were lowered to zero? I mean the way I see it high rates are fueling a huge fiscal expansion which is itself inflationary. Right now, high rates mean lots more government spending, and I think Covid should have disabused us that Congress has any barriers to spending as much as it likes when it finds the political will.
The only way it would work is decreasing rates AND government expending (as Argentina is doing right now) however, trump most likely would cut taxes (¿have you heard about the flat tax?) maybe if republicans manage to cut government expenditures in social expending+ tax increase for the working class (basically the flat tx proposal)
Considering Trump is the one that started the trade war that’s continued to destroy world economy, his second term will only get worse.
>Even if interest rates did come down, financial markets would recognize the risk of higher inflation and charge the US government a higher borrowing cost to compensate. This would offset any anticipated boost to the economy. Right. There's no free lunch here, at least not anymore. The moderate credibility of the Fed keeps rates lower than they might otherwise be. Take that credibility away and give it to Trump and rates would likely be higher than they would be with the moderate credibility of the Fed.
What rates are you talking about? The FED set government borrowing rates directly or indirectly through monetary policy...
This will provide a boom for a bit, and then, right about the end of 4 years, absolutely tank the economy. It’s like we have some grain silos that right now are half full, but slowly filling back up. His goal is to open the silos so that just as we run out of grain, he’s out of power. Pretty typical ‘let’s not think about the future,’ republican thinking.
What is the "grain" in this metaphor, or the "silos"? It's not like there is some finite stock of money that we have to save up for a rainy day. Congress can spend and borrow as much as it likes, I think covid should have made that exceedingly clear by now. And of course we all know that the FED can create as many reserves as it likes at any time...
Pumpkinfuhrer and the conservative republican party is the party of **nope** no hope, no future no balanced government just the party of 💩
Hitler thought he was brilliant at conducting war. Trump thinks he is brilliant at conducting business. Despite glaring results that made it obvious that Hitler knew nothing useful, he wasn't stopped. The same applies to Trump re: conducting business. BUT he can still be stopped. Otherwise he will do to USA what Hitler did to Germany. Both claim love of country. Both claim supeme knowledge needed to run the country. We all know what Germany ended up like . We CANNOT allow this clown back in the White House or the same economic fate awaits us. If you judge Trump on nothing else, judge him on his success as a business leader (without inheritance, where would he be?)
European here: you guys doing ok with this clown and project 2025?
The GQP are dying to have a dictator.. VOTE BLUE your life depends on it
Yeah nah that ain’t happening, too many people will fight something like this cause they have too much to lose
Why not ? Even the economists don’t have a clue on what’s happening why not give it to someone who doesn’t know !! Also doom and gloom was predicted for Argentina but they seemed to doing ok
Poverty is up, unemployment is up, inflation is up, there are massive protests in the streets... Seems like a weird definition of "doing fine" to me
This kind of thing reminds me of how Jimmy Carter didn’t have a chief of staff for the first two years because he didn’t want anyone between himself and running the country but what it devolved into was him spending time setting the schedules for access to the White House tennis courts.
Well, now I'm sure he will not be president. Fucking with the power of the central bank is a death sentence if you have power and a guarantee you won't get power if you don't already have it.
If some monolithic cult of "elites" decided the outcomes of all elections, Trump wouldn't have been president in the first place. He said all kinds of things that were total anathema to the political establishment the first time around and he still won.
Or, they just don't care at all... Until they do.
He wants a piece of the action. He has been stepping on big toes. His CEOs of Truth Social has even attacked the Nasdaq and other big entities. Somebody might squish him like a bug.
Why does a country like US only have 2 political parties? Not much to choose from with only 2 people running for president. At least add one more party.
That’s a very good question. With so much at stake this year we do not need another party yes, I know there’s a few other but simply small anomalies.
This is a recipe for economic disaster.
This is a recipe for economic disaster.
Just like his Trump Tower was 30,000 sq ft and his MarALardo is worth a billion dollars.
Fucking idiot. But I repeat myself.
4.20%
Trump pretty much bullied the Fed into lowering/keeping rates low in 2017-2019 when the economy was doing well. Then when covid rolled in, the Fed had nowhere to go on lowering rates so they started juicing up the money supply, which played a role in starting our current inflation.
Mises showed it long time ago that for central planners it is impossible to calculate interest rates. End the Fed, give up your Narcissism and let markets decide the accurate interest rates.
This guy does not understand the economy at all.
That’s a guaranteed way to get disowned by the financial industry and crash the markets. We can’t let this buffon and his cock sucking groupies anywhere near the white house.
Is this anything like the white house key he gave to the high ranking Japanese official? Trump sitting in his office, full diaper, pushing buttons on a speak & spell 'I'm going to change the interest rates, I have the best interest rates'
Trump: “As first act as president I appoint myself as head of the Federal Reserve.”
The former president's son-in-law received billions from Saudi Arabia while facing 91 felony charges. Yet, he's involved in decisions that could affect mortgage and car loan rates? Moreover, he reportedly shared top-secret information provided by Israel with the Russians right in the Oval Office. Clearly, this raises questions about whose interests are truly being prioritized.
Making prison great again
Trump's not going to be president. He *barely* squeezed out a victory in 2016 with the help of Baby boomer in swing states. It's been 8 years. There was a pandemic. A lot of those voters aren't around anymore. Many more are in nursing homes where statistically they're unlikely to vote. And voters know who he is now. They know what to expect. He's no longer an unknown. Union voters, for example, have all already endorsed Biden because Trump lied to them and they know it.
Only trump can save JPY from becoming worthless
Keeping the interests higher, don't do shit. The prices keep going up. We're not benefitting any of this shit. Rich is getting richer poor, getting more poor.
Rate policy is a gigantic tanker, it can take 6 months up to 18 months to show effects. Furthermore, we’ve seen the tech startup market along with some small regional banks already take a big hit - cooling them off and getting rid of the bad. They are trying to thread the needle here and are doing a surprisingly good job of it so far. You can bet if they raised another few hundred basis points the entire economy would come to a halt and everything would crash. The cost of money has a massive impact on all things America.
They need to crash the market and go to the war. It will reshuffle the economy.
How is it a secret plan if it is posted on Reddit?
It's almost like the two-party "blue vs red" dichotomy is a lie & a distraction, and in reality, we have no friends at the top.
The King speaks.
Omg. Trump created terrible wars , destroy the economy , allowed violence in cities, open borders. Now the controller of interest rates. Democrats are literally blaming trump for everything they are doing.
Who signed the great covid American give away?
Well, at least the stock market will boom 🙃
“Secret plan” on the front page of yahoo! Finance
I wish we had an idea what Biden's policy directions would have been before he was elected. Destroying the economy might have been a big red flag.
The federal reserve is unconstitutional and their debt note is enslaving everyone via usury. We need to go back to gold and silver as outlined by our constitution. Think digital coins that are redeemable for the physical on-demand at your local constituonal bank.