The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on December 20, 2018, 05:04:23 pm
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In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy – Dow Lost Over $4 Trillion in Value – FIRE HIM ALREADY!
by Jim Hoft December 20, 2018
Since October The Fed has single-handedly dismantled the US economy. The Trump tax cuts at year end 2017 set the economy on fire. The US stock markets set numerous records. So the Fed had to step in and kill the economy or, God forbid, he would get re-elected in 2020!
The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year. The Dow immediately dropped 720 points in 10 minutes. The DOW was down at one point by 894 points!
more
https://www.thegatewaypundit.com/2018/12/in-3-months-fed-chair-jerome-powell-just-destroyed-trump-economy-dow-lost-over-4-trillion-in-value-fire-him-already/ (https://www.thegatewaypundit.com/2018/12/in-3-months-fed-chair-jerome-powell-just-destroyed-trump-economy-dow-lost-over-4-trillion-in-value-fire-him-already/)
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Trump and Republicans were saying through most of Obama's administration (and even back to Bush's administration) that the fed keeping the interest rates at almost 0, well below inflation, was a timebomb waiting to happen and unnecessary currency manipulation. They were right. The Fed was artificially propping up the market and creating a market bubble. However, now that they are bringing it slowly back in line with inflation (as interest rates should be if we are to have a Fed) they are complaining about the same thing they demanded- just because it makes their guy look bad.
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Fed Chair Jerome Powell nominated by who?
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This guy makes Andrea Mitchel's hubby look like a genius.
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We've had a huge multiyear exuberance top. The froth needed to come off the market, simple as that. I think the Fed played crappy pool the way they went about it, but it still needed to happen.
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In Parliamentary Governance, such as the UK, the Exchequer
controls monetary policy and is managed by the party in power.
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I'm sure it has nothing to do with tariffs that disrupted numerous businesses...
Or the massive deficit spending that can't continue...
Or the Dems taking control of the house due to GOP inaction or doing the opposite of what they campaigned on previously...
Business hates uncertainty and we have heaping loads of it now...
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This guy makes Andrea Mitchel's hubby look like a genius.
It doesn't matter who nominates anyone for shit. 5 minutes after they get the job they do whatever the hell they want.
BTW most of the Dow issues up and down are because there aren't traders making decisions anymore. Wall Street is run by computers and algos to squeeze a fraction of a cent out of a trade a billion times over in a nanosecond.
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Abolish the Fed. It serves no purpose.
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The Fed is still 2-3% low...
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I'm sure it has nothing to do with tariffs that disrupted numerous businesses...
Or the massive deficit spending that can't continue...
Or the Dems taking control of the house due to GOP inaction or doing the opposite of what they campaigned on previously...
Business hates uncertainty and we have heaping loads of it now...
I'm leaning Tariffs..
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In Parliamentary Governance, such as the UK, the Exchequer
controls monetary policy and is managed by the party in power.
Do you really want the Dems to control the Monetary policy??
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Fed Chair Jerome Powell nominated by who?
I that the Deep State put him there..
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I that the Deep State put him there..
:rolling: