Someone somewhere better be digging a shallow orange grave with plans to fill it soon…
Maybe he could generate some more NFTs, that’s always good for the economy.
this is exactly like his first term. I mean this one thing. Everything else has been much worse but this is how he got rates low before covid hit.
Not the same at all like Covid. The difference between then and now is our recession was caused by reduced spending due to Covid and closed ports, again due to Covid.
Our current situation is caused by idiotic foreign and international trade policy. No amount of reduced rates will cause foreign entities to spend more. Covid was reduced domestic spending. Now is reduced international spending.
It’s funny that he’s yelling at Powell for something that Japan, Canada, and the EU are doing. This is a strategically coordinated (and imo fully justified) retaliatory fiscal policy being enacted by our (former) allies in direct response to our apocalyptically idiotic tariff policies. This is the Find Out part.
This is a relatively gentle “find out” from them too. If they decide to actually be mean we are super boned and 2/3 of the country will deserve it either for voting for it or for not voting against it. It’s only fucking April and we have to make it to January for the next congressional session…
This is a relatively gentle “find out” from them too.
Well, the US is majority-white.
It’s gentle, but it’s moving with the certainty of a trash compactor on the Death Star, and R2D2 isn’t gonna save us because we sold him for parts.
The idea behind lower rates is to promote investment. But investment is being severely discouraged by the absolute dumpster fire of a political environment the country is in right now where nobody knows if a “good” investment will suddenly turn into a terrible investment at the whim of the irrational toddler in charge. As a result, lowering the interest rates would most probably do nothing more than promote inflation. Powell knows that and this is why he refuses to lower the rates.
The president throwing a tantrum and trying to pressure a position that can only properly do its job of regulating the economy if it is shielded against political influence will only push investors away even more.
Buckle up Americans, looks like a great depression is coming. And it was entirely manufactured by your president’s incompetence.
No, this is not incompetence, it is insider trading. They had a plan with tariffs and made their money. When Trump finally falls the people that raised up that useful idiot will all get to keep the insider trading money they made by yo-yo’ing the economy.
The issue the OC is talking about isn’t something you can just walk back and take your winnings. Owning the husk of a once great economy isn’t really a great outcome.
I don’t think anyone understands that if he ousts Powell/gets his interest rate lowered, we’re looking at a depression or worse. That kind of economic crisis has the potential to ruin literally anyone, including the wealthy/elites.
I don’t think anyone understands that if he ousts Powell/gets his interest rate lowered, we’re looking at a depression or worse.
Um, I think everyone except his hardcore followers understands that.
If that were the case he wouldn’t be in power anymore. Either enough people don’t understand or don’t believe it.
Many cowards in the Republiqan Party. Also a whole lotta stupid people more engaged in their stupid identity politics who have the mantra of “any criticism of donvict is because someone just has ‘trump derangement syndrome’ and something something argle bargle DEI”.
Calling it now. It will be called the DEI-pression
The Republicans who could and should hold him to account (senators, representatives, and Supreme Court justices) are too afraid of his rabid base to do anything. If they oppose him, Trump will start raging on truth social that they are communist America haters that need to be “dealt with”. Stochastic terrorism is a real thing, and these people are cowards.
The oligarchs that put him in power thought they were smart enough to control him. I think they are just now realizing that they can’t, and they are freaking out.
Buckle up Americans, looks like a great depression is coming
So that’s what all the MAGA idiots are going for
The greatest depression, some will say
What’s hilarious to me is that the Fed did cut rates at least twice I can recall in the months leading up to the inauguration
Then this dumbass comes in and fucks everything up
“Ah you think depression is your ally? You merely adopted the depression. I was born in it, molded by it. I didn’t see optimism until I was already a man, by then it was nothing to me but unrealistic idealism!” - Me… and… most millennials, probably.
Crash of '87
4yo me:
Translation: the early numbers on unemployment are awful
Who could have known that firing a quarter of a million federal employees while making it impossible for industry and commerce to function would increase unemployment? No one knew economics could be so complicated.
“Actually anyone who was paying attention in Economics 101 would underst…”
gets punched in the shoulder
“Oh, right…yeah, nobody knew it was this complicated.”
He’s going to blame Powell for the recession/depression, and the sheep will baaaa in unison.
They’re gonna Fauci this fucker
They’ll do more than that. I hope Powell has good private security.
Someone tried telling me the other days interest rates won’t go down because that would be a stupid move…
That’s not going to factor in Trump’s decision at all, either Powell caves or trump seizes more control and Republicans refuse to stop him.
If you’re referring to our exchange, you either misunderstood me or are misrepresenting what I said. I said that the odds of rates going down are decreasing because of Trumps idiocy. The Fed are increasingly more likely to raise rates than lower rates, but if Trump forces rates down it’s going to blow the whole thing up. The market is not going to like that at all because the Fed maintaining its independence is integral to the functioning of the US economy.
and the democrats will continue to help
