POTUS on ballooning debt "I won't be here" when it blows up

[MKTrader]

That's why Powell wants to increase the interest rate now to rein in the debt because he knows the POTUS won't be around to deal with it so he doesn't care but he, Powell will.

Or not. The last two Fed doves from the Obama administration aren't around now to deal with their excesses.

 

[Handle123]

https://www.washingtonexaminer.com/how-much-debt-did-each-president-leave-for-the-country

 

[TJustice]

So why are we worried about borrowing money from the FED but not worried about how many trillions more the FED is creating? I just do not understand why people don't see that the deficit is a distraction if we don't keep track of money creation.

 

[JSOP]

Or not. The last two Fed doves from the Obama administration aren't around now to deal with their excesses.

Yellen was forced to resign because Trump didn't like her. Not her choice to not be here and btw she was not a dove, she was the one who started the initiative of the gradual increase of interest rate which Powell is carrying out.

 

[Arnie]

The debt doesn't matter until it does. They just keep kicking the can down the road, because that's the easiest thing to do. There aren't any martyrs in the political class.

 

[El OchoCinco]

Except Obama practically never faced the music in the MSM. They just gave him undue credit for the Fed-induced stock rally (starting with marked-to-market accounting change in March '09 then it was all ZIRP and QE...even his really bad policies couldn't stop it).

That is the point, people giving Obama credit is something you can go after those people and say they know not of which they speak. Obama however did not get up on his pedastal and brag daily how all of the growth was because of him and it was a stock market no one has ever seen before.

Trump has to tweet daily for recogniztion because of his frfagile ego, he needs to make sure people give him credit for all the things he actually knows very little about. Well if he wants credit for this shit then he shoudl tweet about how it is his fault when it goes wrong as well.

 

[MKTrader]

Yellen was forced to resign because Trump didn't like her. Not her choice to not be here and btw she was not a dove, she was the one who started the initiative of the gradual increase of interest rate which Powell is carrying out.

Yellen started the rate hikes too late. She did one rate hike in Dec. 2015...and didn't raise them again until a year later. While it certainly helped Obama to have a whopping one rate hike in 8 years (with a bunch of cuts early on), it was a lousy decision for the nation. She certainly was a dove while Obama was in office.

 

[MKTrader]

That is the point, people giving Obama credit is something you can go after those people and say they know not of which they speak. Obama however did not get up on his pedastal and brag daily how all of the growth was because of him and it was a stock market no one has ever seen before.

He certainly did take credit for the stock market and economy when it was 100% the Fed's doings. In fact, he's still taking credit for the current economy, though he blamed anything wrong on Bush while he was in office. Revisionist history dies hard.

You can't compare over 2% of rate hikes in under 2 years to almost 8 years of ZIRP + multiple rounds of QE. Anyone who makes this comparison is a complete economic ignoramus. It's beyond apples and oranges...it's like GMO-enhanced apples vs. oranges trying to be grown in the Sahara with no irrigation.

 

[Arnie]

Yellen started the rate hikes too late. She did one rate hike in Dec. 2015...and didn't raise them again until a year later. While it certainly helped Obama to have a whopping one rate hike in 8 years, it was a lousy decision for the nation. She certainly was a dove while Obama was in office.

I agree. The Fed has been behind the curve for too long. Seems to be SOP with them. The dual mandate doesn't help, either.

 

[JSOP]

Yellen started the rate hikes too late. She did one rate hike in Dec. 2015...and didn't raise them again until a year later. While it certainly helped Obama to have a whopping one rate hike in 8 years (with a bunch of cuts early on), it was a lousy decision for the nation. She certainly was a dove while Obama was in office.

Better late than ever. The current Trump is crying foul even Powell is raising interest rates now.