Today U.S President Donald Trump said "the fed has gone crazy"
Um... Trump likes the Fed. He just wants them to do what he wants them to do.Originally Posted by Itsback
Today U.S President Donald Trump said "the fed has gone crazy"
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Or maybe he is setting them up.
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
Like print more money to sustain thisbubbleawesome economy
What has the fed done to benefit you?
Do something Danke
MAGA = Make America Great Again begins.........
We evidently have 3.7% unemployment. The FED just reacted.
Do they feel this is too much of a good thing? Like its the apex,
the peak of the gradual recovery from the Recession bottom of
2008/09 & there is nowhere to go but down? DJT is a tad upset.
"Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
"War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.
Today U.S President Donald Trump said "the fed has gone crazy"
The shutting down of the current iteration of the Fed has been already planned. This is part of the show.
Ya think it's a coincidence that the sell-off leading to today's rhetoric from Trump started when the 10 year bond landed exactly on yield of 3.22? Jesuits playing Jesuit games for the Vatican's looting of the markets. Skull and Bones '322' refers to Genesis 3:22.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
LOL
Once again Trump raises an issue that is of concern primarily to libertarians.
Once again the significance of this event will go totally over the heads of the false friends of liberty.
Once again Trumpkins have misinterpreted what Trump has said, clearly and repeatedly, in order to delude themselves into believing something that is patently untrue.
Not sure what you mean... The issue most liberty folks have with the Fed is not how they are managing monetary policy; it's that they're managing it at all.
Almost all Presidents have criticized Fed policy at some point because they want the Fed to work for their political benefit. That's nothing new. The markets have gotten addicted to artificially low interest rates like a junkie on heroin - Trump doesn't want them weaned. That's pretty typical. Presidents using the bully pulpit to influence Fed policy. Unless I missed it, did Trump suggest that monetary policy should not be managed?? Now, that would be a significant event.
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Don't need a weather man to know which way the wind blows
Not "setting them up", Just impulsively looking for someplace to point the finger. After claiming all credit for the tail end of the bubble economy, "it was all due to him," now he wants to blame the fed for the crash. The problem isn't the pricking of the bubble, it was the past ten years of bubble inflation. And yes, that is the Fed's fault. The problem is he has set himself up these past two years take the blame - his continued cheerleading for the bubble expansion, his proposals to increase spending, his signing record setting deficits, and budget spending. He unfortunately set himself up to be the fall guy. He walked, no ran, right into it.
When the market continues its 10 yr bubble expansion - Trump: "It is all me. All because of me. I am great. This fake bubble economy is great!!"
When the market crashes - Trump: "The Fed has gone crazy. Why won't they inflate the bubble. Print, print print. The Fed has gone crazy. It's all the Fed's fault."
The Fed hasn't gone crazy. Its been crazy. This teensy, tiny, miniscule quarter point rate hike is about the sanest thing the Fed has done in a long while.
The economy and market bubble are so phony that all it takes is a teensy, tiny, miniscule quarter point rate hike to set off "the sky is falling" panic.
Trump was right as a candidate - the economy was phony, the market was a bubble, the labor statistics were phony and we had a phony Fed inflated bubble economy.
As soon as he took office, everything he called fake and phony suddenly became ""real". He embraced the same fake numbers, spouted the phony lies sounding exactly like Obama - "Oh look at these jobs numbers. I am the greatest. I made it all happen. The best economy ever, ever, ever!"
Last edited by AZJoe; 10-11-2018 at 07:35 PM.
"Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
"War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.
Meet the new boss...Trump was right as a candidate - the economy was phony, the market ws a bubble, the labor statistics were phony and we had a phony Fed inflated bubble economy.
As soon as he took office, everything he called fake and phony suddenly became ""real". He embraced the same fake numbers, spouted the phony lies sounding exactly like Obama - "Oh look at these jobs numbers. I am the greatest. I made it all happen. The best economy ever, ever, ever!"
Don't need a weather man to know which way the wind blows
Wish I could +rep you!!!
There is no spoon.
No dude....it's a blame game. I am sure we all agree rising rates are what's causing the volatility and wild swings, but the Fed raising those rates 25 basis points every few months in what is supposed to be this booming economy is not what's causing the jumps in those rates. What's causing it is China is doing the "You want to see how it can be, Trump?" move to show Trump they don't need to be able to match Trump in tariff for tariff and are dumping bonds. Now....in all honesty there is a limit as to how much China can do that as to dump all their holdings would be done at a loss to China so unless something happened to make China say screw it and go scorched earth that scenario won't play out. Not to mention that China doesn't want to see our economy completely tank like that would cause. At least for now....because not many people are really talking about how freaking busy China has been in places like South Africa regarding establishing manufacturing facilities. And if people thought labor was cheap in China (which technically their labor costs have been rising over the years as their middle class has grown) they have no way to grasp the kind of cheap labor force China is building in South Africa.
"Self conquest is the greatest of all victories." - Plato
I doubt the Fed would be tightening if Obama was in charge. They are a political animal, even when they say otherwise.
It's not even a question. The Fed dropped the rate from 1% to zero as soon as Obama took office, and kept it there for seven years when they gave a 0.25% hike.
Then as soon as Trump was elected we've had a flurry of rate hikes with more promised to come.
While rate hikes are a good thing in the macro (they really should be at 5% or so for a healthy balance between borrowing and saving), the timing screams partisan politics.
Here's the test: if you put an openly partisan Democrat in charge of the Fed, what would be done differently? Not a hell of a lot.
This much is true. They are a political animal. But the idea is to kill the beast, not tame it and use it for your own purposes.
"And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat
"It is difficult to free fools from the chains they revere." - Voltaire
Exactly. Trump wants artificially low rates to avoid pricking the massive bubble.
It's amusing to listen to the Obama fans like Zippy and TheCount and Trump fans like Swordsmyth try to blame the other guys for everything. The fact is that this bubble has been growing since 2008, Obama was all for blowing air into it and now Trump is all for blowing air into it. And the economy has not been "great" under Obama or Trump because it requires trillions of dollars a year of stimulus to support it.
Exactly, and if he can pin the blame on the Fed we may just get an audit or even an end of the Fed.
Will it matter if they are blamed for raising interest rates instead of suppressing them if/when they are gone?
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
Well maybe Randal can start whispering in Trumps ear about an audit.
Wrong.
If you listened to Peter Schiff's show that was posted you would know that Trump wants to keep low interest rates until we pay off our debt.
That means two things.
1) Trump understands that we will be in a lot of trouble if interest rates go way up due to our high levels of debt
2) Trump wants to pay off the debt - and since he also wants lower taxes, that means he wants to drastically cut spending
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
LOL, if anybody knows that we ain't ever paying off that debt, its Trump. At least not at face value.
when things are going great trump takes the credit , when not good he looks for a goat to blame it on .
The Fed has gone crazy. Raising rates too fast, they want to cause the bust because all the bankers will sell high first, then buy the rock bottom low. Its a club and you are not in it.
I just want objectivity on this forum and will point out flawed sources or points of view at my leisure.
https://www.reuters.com/article/us-u...-idUSKCN1ML2KM
OCTOBER 11, 2018
WASHINGTON (Reuters) - A stock sell-off, rising trade tension with China, slower global growth and verbal pressure from the White House are unlikely to dent the U.S. Federal Reserve’s rate hike plans in an economy performing in line with the central bank’s forecasts.
U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017.
A bumpy 48 hours included an 800 point drop in the Dow Jones Industrial Average and hefty declines in other stock indexes, a forecast of slowing global growth from the International Monetary Fund, and a broadside from President Donald Trump in which he called the Fed “crazy,” “loco,” and “too aggressive” in raising rates.
But data since the Fed’s last meeting in September has been in line with the central bank’s portrait of an economy in which historically low unemployment will be coupled with inflation running near the central bank’s 2 percent target for the foreseeable future.
Gradual rate increases - moving the overnight federal funds rate over the next year and a half or so from between 2 and 2.5 percent now to around 3.4 percent - would slow the economy a bit, but keep inflation in check during a record-setting era of recession-free growth spanning the Obama years and Trump’s first term.
Compared to the recent years in which the Fed has battled both high unemployment and weak inflation, it is a remarkably rosy scenario that, most analysts and officials have said, justifies what the Fed has done so far and offers little reason to shift gears.
Even chief Trump economic adviser Larry Kudlow, qualifying the president’s opinion of Fed chair Jerome Powell’s Fed, said he thought the central bank was “on target,” and that its ability to raise rates was a sign of “economic health, that is something to be welcomed and not feared..”
The unemployment rate in September dipped to 3.7 percent, a level not seen in nearly half a century, while an inflation report on Thursday indicated the pace of price increases remained under control around the Fed’s target.
Flags fly above the Federal Reserve building in Washington, DC, U.S., August 22, 2018
Even the sharp rise in long-term bond yields that has spooked equity investors this week is a sign of an economy working more normally than it has since the financial crisis. Indeed depressed long-term rates had led some Fed officials to worry that short-term rates might rise above them and cause the sort of bond yield “inversion” that precedes recession. But the spread between short- and long-term debt is now widening.
Trump’s comments and the stock slide “won’t be enough to prevent the ‘crazy’ Fed from raising rates again in December,” Capital Economics analysts wrote on Thursday after the last consumer price data, which, while slightly below expectations, were still roughly in line with the Fed’s plans.
Forecasters with Macroeconomic Advisers left their outlook for annualized gross domestic product growth unchanged at 3.7 percent for the third quarter and 2.6 percent for the fourth quarter.
The Fed has been revising its own growth forecasts higher through the year, as the impact of recent tax cuts and increased federal spending have been felt.
Dramatic and sustained stock market declines can feed into that outlook through a “wealth effect” if they begin to erode household and business confidence, and prompt consumers and investors to curtail spending.
Major U.S. markets were lower again in Thursday afternoon trading, with the Dow and S&P 500 down roughly a half percent each.
But both indexes remain a full 10 percent higher than following similar dips in February and March. A dip in equities may even take the edge off asset values some Fed officials worry have been “stretched” compared to historic levels.
Among investors in federal funds futures, continued Fed rate hikes remained a solid bet, with a December increase assigned a 78 percent probability - down only 3 percentage points from before Wednesday’s market turmoil and Trump’s comments.
I listened to it and you left out the most important part. The part where Schiff said Trump was full of crap because he's loading up on the debt instead of paying it down.
C'mon man. That was weak.
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