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PostPosted: April 5 19, 2:17 pm 
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this is terrifying.

Basically as his tariffs hurt, and as his tax plan shows not to be a huge bump to the economy, Trump, who is despite that still presiding over the longest expansion in our economy in history, is demanding the Fed bow to his wishes to artificially bump the economy more, propping us up for a crash later but helping his re-election cause.

Additionally terrifying are the names that are being tossed around for the Fed. Herman Cain, The Godfather's Pizza Sexual Harassment King. Stephen Moore, a guy with a bloodthirsty vendetta against interest rate hikes.

This is dangerous stuff.


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PostPosted: April 5 19, 2:59 pm 
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Mr. Trump, escalating his previous critiques of the Fed, called on Friday for policymakers to return to a policy of so-called quantitative easing: buying assets like Treasury bonds and mortgage-backed securities as a way of stimulating economic growth. The Fed gobbled up more than $4 trillion worth of bonds, increasing the supply of money in the financial system and encouraging investors to get back into the market.


Quantitative easing was only brought into existence to deal with the aftermath of the 2007-08 financial crisis. And the only reason the Fed even did it at all is because Congress refused to pass a big enough stimulus bill. I should have known it would become a regular thing to do whenever they feel like it.


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PostPosted: April 5 19, 4:45 pm 
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pioneer98 wrote:
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Mr. Trump, escalating his previous critiques of the Fed, called on Friday for policymakers to return to a policy of so-called quantitative easing: buying assets like Treasury bonds and mortgage-backed securities as a way of stimulating economic growth. The Fed gobbled up more than $4 trillion worth of bonds, increasing the supply of money in the financial system and encouraging investors to get back into the market.


Quantitative easing was only brought into existence to deal with the aftermath of the 2007-08 financial crisis. And the only reason the Fed even did it at all is because Congress refused to pass a big enough stimulus bill. I should have known it would become a regular thing to do whenever they feel like it.

As much as I respect and admire Barack Obama, you can lay this at his feet. He should have allowed Volker to clean house at the banks and rid us of those who brought us to the 2008 crisis. Instead, those people are still in charge with very few consequence. IMO, it has lead directly to the fascism we have today.


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PostPosted: April 5 19, 5:24 pm 
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33anda3rd wrote:
this is terrifying.

Basically as his tariffs hurt, and as his tax plan shows not to be a huge bump to the economy, Trump, who is despite that still presiding over the longest expansion in our economy in history, is demanding the Fed bow to his wishes to artificially bump the economy more, propping us up for a crash later but helping his re-election cause.

Additionally terrifying are the names that are being tossed around for the Fed. Herman Cain, The Godfather's Pizza Sexual Harassment King. Stephen Moore, a guy with a bloodthirsty vendetta against interest rate hikes.

This is dangerous stuff.


Even weirder, Cain loves high interest rates. This is so strange.


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PostPosted: April 6 19, 2:22 pm 
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The lasting damage here is the moves made on the judiciary and the fed. America is done. Even if the Dems do happen to get power back in two years there is no mechanism for them to recover from all this corruption we are seeing. Not to mention the Republicans have learned they can get away with anything so they will just cheat harder.


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PostPosted: April 9 19, 9:06 am 
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I didn't realize that Stephen Moore was behind the Kansas tax-cutting plan that wrecked the state economy.

That alone should be cause for disqualification. In a sane world it would go:

Senator: "Did you help draw up that lousy financial plan for Kansas that killed the state's economy?"

Moore: "Sure did."

Senator: "Ok, do we need to waste time on a formal vote or would you like to just show yourself the door?"


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PostPosted: May 2 19, 9:25 pm 
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As noted in the Trump staff thread, Trump tweeted out that Stephen Moore was withdrawing his candidacy for the Fed. It is a bit reassuring, because Moore is an untalented hack. To pull a random name from a hat, somebody like Paul Ryan probably would agree with Moore about 99% of the time on economic issues, but Ryan can make a vaguely coherent argument for policies based on something sounding like principles. Moore barely tries to disguise that his monetary policy is "raise rates when a D is POTUS, lower rates when a R is POTUS." He doesn't have any business being in a public-facing position like the Federal Reserve. Lo and behold, the R's in the Senate figured this out.

So there is a line they will not cross. I suppose it makes sense that the line involves a position where some very wealthy people on Wall Street could lose a bunch of money because Moore would be awful at his job.


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