Thanks. Typical Friedman, but give us please the whole talk at Cornell. A Great American University -- though a little hard to get up that damn hill from Ithaca to the campus in February.
Trump is Right to Blow Up the Fed
- Thread starter Tsing Tao
- Start date
I didn't say anything about either one's intelligence. You did. All I said was neither understood the Fed's impact outside of "cheap money rises the stock market and makes me look good." Both appointed fools to the ship.
Good! Don't need bankers. Need businessmen. Bankers are what got us into this mess in the first place.
I'm making the statement that both parties are corrupt and do whatever is in their best interest, and neither is qualified to make the decisions regarding a central bank.
The chief responsibility of the Fed, to manage interest rates, could be managed by an algorithm. The rest of the corruption isn't necessary.
No one but you cares.
More complaining Nonsense.
What mess are we in exactly? There are a number of very serious messes since Trump took over so please specify.
I have zero doubt Obama understood the Feds role and it’s a fact he kept a healthy distance and allowed the fed to operate as they needed.
Trump is the one that points to the stock market as his shining glory in life and continues to corrupt the fed with pressure tactics.
But my point is that your analysis of home affordability is flawed. You’re looking under the bed for a bogeyman when the real problem is personal debt.
But you are judging the man's intelligence by making such idiotic statements. The man has a degree in economics, not a business degree that Daddy paid for.
So we're not in any mess? Or we are in a bunch of messes? Or is it just that everything we are currently in is Orange Man's fault?
Right, Orange Man bad, everyone else good.
He does, indeed. But you're an idiot if you think that previous Presidents did not "pressure" the Fed before. Trump is overt, that's all.
I've mentioned debt about a dozen times in regards to the Fed. I've also mentioned affordability of overall price. I've also mentioned that there are multiple reasons why homes are out of reach. For whatever reason, you just want to keep pushing the report that says almost the same thing. And again, I say "great. next."
Ah, well if he has a degree, he must be smart.
You guys are so lost in the wilderness I doubt you'll ever find your way out.
Not very difficult here, which mess were you referring to?
Obama had a lot of faults. Interfering with the Fed was not one of them. You say previous presidents have pressured the Fed, ok, which ones and how?
How about the entire macro economical situation the US is currently in? Asset prices overvalued, a record Fed balance sheet, record debt (Personal, corporate and government), a massive, enormous inequality between the very rich, and everyone else? You think all of this happened in the last two years because of Trump??
Every President since Nixon (at least) pressured the Fed.
By assets so far we’ve only discussed stocks and houses, so I have to assume these are what you are referring.
Let’s talk about the market because while I’m sure you’re going to disagree with me I don’t view it as completely futile altogether.
The market is overvalued buuuuuut not because of the fed but because of the tax bill.
This market is almost solely pumped off of buybacks. All the smart money is on the sidelines waiting for the next recession coming in a year or so.
Now will a dovish fed delay the inevitable, maybe. Will it pad profits immediately, yes. Will it be harmful when the next recession hits, very much so.
Now to their balance sheet, a record by what metric?
Asking if I believe “all of this happened in the last two years” is just silly. As a leader you have to handle to challenges in front of you as they come. Whether it’s the macro economy or anything else.
I don’t know if you’ve ever owned a business but everyday is a new challenge. Prices go up, products change, regulations change, law suits come in, you name it. Almost everyday it’s something threatening you. You have to be able to meet the challenges and overcome to prosper.
Trump doesn’t have a “winning” mentality. He’s a cheater by nature and he is unable to meet the challenges before this nation. As such, I do not have faith in his administration’s ability to meet the macroeconomic challenges of this nation.
But this may surprise you, the macroeconomic situation was good when he took over. We were certainly on a better course than we had been for quite some time. We have squandered that in a little more than 2 years.
O and as to your assertion every president since Nixon has pressured the fed in some way, again, where’s your proof or at least hypothesis of how it was done?