July 15, 2010
March 6, 2013
March 6, 2013
Charles Denner... Forecasts "Dow 5,000"
- Thread starter Scataphagos
- Start date
Geeeezuz Christ lol... would you guys quit spreading fear.
Ya know... people with 401K's are swinging by here from Google searches in a panic and they read this stuff. They don't know any better. Ya'll aren't helping matters any.
5000 on the f'ing Dow!?
OMG....
After 11 years....S2007 is finally gonna have his day in the sun.
Sell sell sell.
Raaaaaah.
Ya know... people with 401K's are swinging by here from Google searches in a panic and they read this stuff. They don't know any better. Ya'll aren't helping matters any.
5000 on the f'ing Dow!?
OMG....
After 11 years....S2007 is finally gonna have his day in the sun.
Sell sell sell.
Raaaaaah.
Dow 10,000 or 5,000... down -80% or "down only -60%".... either would be devastating to many. In any case, one can make the argument for much lower.
Yes even 10000 would be devastating....no one exoects that low which is why it's possible in my opinion.....again I'm sure the fed will provide liquidity to the market when it freezes and bailouts and free money, again they will prop it up....but they shouldn't...let the markets drop 50%, 65% 90% ...let the free markets decide not without intervention...all they had to do was let it collapse last time but nope, they gave the markets the jumpstart to create the environment we have had for the last decade, it's finally over...now we have to see what magic game they play this time around....but who knows I have been reading articles that trump may fire Powell, not a good thing, but you know he would replace Powell with another bubble ben bernanke....and the first thing they would do is drop rates back under 1% and eventually zero because no market today can handle anything other than 0% market rates.....
Part of the problem is that in the past it has taken interest rate reduction of 4-5% to turn things around. Powell doesn't have that kind of room. And if he just lets things continue as they've been, the maket will eventuall collapse of its own weight/valuation... and the Fed will have no ammo. He needs to "stockpile" some now while he still can. Waiting would only make things worse. Trump is kinda being an ass about this. It's not his fault at all, and there really isn't any alternative. Rather than pissn' and moanin' about Powell, he should be explaining how we got into this mess.
Back in the '80s, Volker raised rates to ~15%. Nobody liked that either, but was necessary to throttle double-digit inflation.
Leaders need to lead.... we don't see much of that.
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Fed Scholar Expects Immediate ‘Market Chaos’ If Trump Ousts Powell
By
Brendan Murray
December 22, 2018, 8:26 AM EST
Jerome Powell
Photographer: Andrew Harrer/Bloomberg
President Donald Trump would create chaos in financial markets if he ousted Federal Reserve Chairman Jerome Powell, according to Peter Conti-Brown, a professor at the University of Pennsylvania’s Wharton School and author of the 2016 book “The Power and Independence of the Federal Reserve.”
Trump has discussed firing Powell as his frustration with the central bank chief intensified following this week’s interest-rate increase and months of stock-market losses, Bloomberg News reported late Friday, citing four people familiar with the matter.
Read More: Trump Said to Discuss Firing Fed’s Powell After Latest Rate Hike
In a series of Twitter posts early Saturday, here’s how Conti-Brown explained what’s involved legally if the president wants to remove a sitting Fed chairman:
By
Brendan Murray
December 22, 2018, 8:26 AM EST
Jerome Powell
Photographer: Andrew Harrer/Bloomberg
President Donald Trump would create chaos in financial markets if he ousted Federal Reserve Chairman Jerome Powell, according to Peter Conti-Brown, a professor at the University of Pennsylvania’s Wharton School and author of the 2016 book “The Power and Independence of the Federal Reserve.”
Trump has discussed firing Powell as his frustration with the central bank chief intensified following this week’s interest-rate increase and months of stock-market losses, Bloomberg News reported late Friday, citing four people familiar with the matter.
Read More: Trump Said to Discuss Firing Fed’s Powell After Latest Rate Hike
In a series of Twitter posts early Saturday, here’s how Conti-Brown explained what’s involved legally if the president wants to remove a sitting Fed chairman:
- “The law isn’t clear. Trump can probably de-designate a Fed Governor as Board Chair, but not fire the Governor. That would violate a deeply held norm in Fed governance, but then, norms and Trump aren’t fast friends.”
- “What immediate effect? Market chaos and Jay Powell still the Fed Chair. Because the even curiouser fact of Fed governance is that there are two Fed Chairs, not one. The Board Chair (controlled by President) and FOMC Chair, controlled by the FOMC.”
- “And the FOMC can elect any of their members to lead them. Rich Clarida (current Vice Chair) would lead on regulation and testify before Congress. The FOMC could elect Jay Powell to lead monetary policy, the only thing Trump cares about.”
- “The next chapter would depend on the Senate. Would they confirm a Mulvaney or a Kushner or a Warsh to succeed Powell? I hope not. I hope they would say ‘We will wait until Powell’s term at the FOMC is up according to our expectation of a four-year chairmanship.’ But who knows?”
- “The fact would be that, confirmed or not, the two chairmanships that each Fed chair has held since 1935 would be separated for the first time. It would feed theories (already rampant) of unaccountability and deep state manipulation.”
- “And it would represent a governance crisis that would damage the Fed, damage the presidency, and damage the nation.”
- In an email, Conti-Brown adds: “It is now all up to the Senate. Will they show resolve to stop this before it starts? I hope so.”
Inflation is higher than what the fed or any economist says...they keep downplaying it, I see inflation almost everywhere, the cost of living is out of control, besides that the rates should have been an easy 5% today but they are literally half that....there is no way they can scale up rates now, it's Farr farr Farr to late now....the higher the rates go the lower the markets will drop...there is no way they can move rates higher, the chance is completely gone, fed has nothing now meaning they will have to start cutting as soon as they see unemployment ticking higher and gdp dropping which you will see taking place throughout 2019...unemployment rates have peaked along with GDP....fed will cut rates down to 2% by end of 2019 and will probably have zero rates in 2020 as the recession comes. Aside from that people can keep thinking I'm crazy but I see negative interest rates...if Powell is fired there will be a huge uproar in the markets....trump better act wisely on this situation...
Fed Scholar Expects Immediate ‘Market Chaos’ If Trump Ousts Powell
By
Brendan Murray
December 22, 2018, 8:26 AM EST
Jerome Powell
Photographer: Andrew Harrer/Bloomberg
President Donald Trump would create chaos in financial markets if he ousted Federal Reserve Chairman Jerome Powell, according to Peter Conti-Brown, a professor at the University of Pennsylvania’s Wharton School and author of the 2016 book “The Power and Independence of the Federal Reserve.”
Trump has discussed firing Powell as his frustration with the central bank chief intensified following this week’s interest-rate increase and months of stock-market losses, Bloomberg News reported late Friday, citing four people familiar with the matter.
Read More: Trump Said to Discuss Firing Fed’s Powell After Latest Rate Hike
In a series of Twitter posts early Saturday, here’s how Conti-Brown explained what’s involved legally if the president wants to remove a sitting Fed chairman:
- “The law isn’t clear. Trump can probably de-designate a Fed Governor as Board Chair, but not fire the Governor. That would violate a deeply held norm in Fed governance, but then, norms and Trump aren’t fast friends.”
- “What immediate effect? Market chaos and Jay Powell still the Fed Chair. Because the even curiouser fact of Fed governance is that there are two Fed Chairs, not one. The Board Chair (controlled by President) and FOMC Chair, controlled by the FOMC.”
- “And the FOMC can elect any of their members to lead them. Rich Clarida (current Vice Chair) would lead on regulation and testify before Congress. The FOMC could elect Jay Powell to lead monetary policy, the only thing Trump cares about.”
- “The next chapter would depend on the Senate. Would they confirm a Mulvaney or a Kushner or a Warsh to succeed Powell? I hope not. I hope they would say ‘We will wait until Powell’s term at the FOMC is up according to our expectation of a four-year chairmanship.’ But who knows?”
- “The fact would be that, confirmed or not, the two chairmanships that each Fed chair has held since 1935 would be separated for the first time. It would feed theories (already rampant) of unaccountability and deep state manipulation.”
- “And it would represent a governance crisis that would damage the Fed, damage the presidency, and damage the nation.”
- In an email, Conti-Brown adds: “It is now all up to the Senate. Will they show resolve to stop this before it starts? I hope so.”
You would easily see a 5-10% one day drop on this news!!!
Fed Scholar Expects Immediate ‘Market Chaos’ If Trump Ousts Powell
By
Brendan Murray
December 22, 2018, 8:26 AM EST
Jerome Powell
Photographer: Andrew Harrer/Bloomberg
President Donald Trump would create chaos in financial markets if he ousted Federal Reserve Chairman Jerome Powell, according to Peter Conti-Brown, a professor at the University of Pennsylvania’s Wharton School and author of the 2016 book “The Power and Independence of the Federal Reserve.”
Trump has discussed firing Powell as his frustration with the central bank chief intensified following this week’s interest-rate increase and months of stock-market losses, Bloomberg News reported late Friday, citing four people familiar with the matter.
Read More: Trump Said to Discuss Firing Fed’s Powell After Latest Rate Hike
In a series of Twitter posts early Saturday, here’s how Conti-Brown explained what’s involved legally if the president wants to remove a sitting Fed chairman:
- “The law isn’t clear. Trump can probably de-designate a Fed Governor as Board Chair, but not fire the Governor. That would violate a deeply held norm in Fed governance, but then, norms and Trump aren’t fast friends.”
- “What immediate effect? Market chaos and Jay Powell still the Fed Chair. Because the even curiouser fact of Fed governance is that there are two Fed Chairs, not one. The Board Chair (controlled by President) and FOMC Chair, controlled by the FOMC.”
- “And the FOMC can elect any of their members to lead them. Rich Clarida (current Vice Chair) would lead on regulation and testify before Congress. The FOMC could elect Jay Powell to lead monetary policy, the only thing Trump cares about.”
- “The next chapter would depend on the Senate. Would they confirm a Mulvaney or a Kushner or a Warsh to succeed Powell? I hope not. I hope they would say ‘We will wait until Powell’s term at the FOMC is up according to our expectation of a four-year chairmanship.’ But who knows?”
- “The fact would be that, confirmed or not, the two chairmanships that each Fed chair has held since 1935 would be separated for the first time. It would feed theories (already rampant) of unaccountability and deep state manipulation.”
- “And it would represent a governance crisis that would damage the Fed, damage the presidency, and damage the nation.”
- In an email, Conti-Brown adds: “It is now all up to the Senate. Will they show resolve to stop this before it starts? I hope so.”
saw that just now
