Resign Please

[savvyman]

Why?

Because this piece of crap ruling class controlled FED Chariman was single handily driving this great jobs producing economy into a recession.

And why was he doing this?

Because just like in 2000 & 2007 - After years of average Americans not getting a wage increase - in 2017 workers wages started to rise for the first time in years and the FED responds by shutting down the economy.

Thank goodness for President Trump who has been fighting these assholes for the past 5 months - on his own - for the benefit of the bottom 90% of Americans.

https://www.cnbc.com/2019/01/04/fed-chief-jerome-powell-says-he-would-not-resign-if-trump-asked-him-to.htm

[idhawkman]

I wouldn't mind having the fed totally shut down and bring back the monetary policy back into the proper branch of the government. No where in the federalist papers or the constitution do I see a provision for someone outside of government controlling our currency.

[Hawktawk]

Hell just abolish the entire constitution and declare Trump president for life!!!! Way to parrot the idiot in chief!!!!

Powell unlike you Trumptard zombies understands that the credit policies of the last umpteen years have encouraged excessive risk taking due to there being no return whatever on money in traditional lending institutions. When the GDP rises at 2.5 or 3% per year and the market goes up 25% in 18 months that's called a huge bubble, a ponzi scheme. It's not sustainable as the wild gyrations are showing recently. It's time to cool it off. Americans harbor more personal debt than at any time in history and most live paycheck to paycheck.Banks are most likely getting pretty close to the tipping point on debt to asset ratio , particularly with the relaxing of regulations keeping it in check. Its setting up for a crisis that will make 2008 look like an economic boom.

Its been the longest economic expansion in history and is not sustainable indefinitely. It's time for a correction, a reset and using artificial means like basically zero credit to forestall that will only make for a harder landing.

Of course Trump and his tards want to push it beyond 2020 so their idol can be reelected assuming he's not gone through impeachment , indictment or removed under the 25th amendment any of which I lustily root for.

Resign indeed Traitor!!!!

[RiverDog]

I wouldn't mind having the fed totally shut down and bring back the monetary policy back into the proper branch of the government. No where in the federalist papers or the constitution do I see a provision for someone outside of government controlling our currency.

I would mind. For the past 40 years, the fed has been essential in keeping inflation under control by manipulating interest rates. Back in the 70's, everyone was borrowing on credit. The motto was "better buy today because tomorrow the price goes up." Along with the COLA clauses they had in union contracts, we were caught in an inflation/wage/price death spiral. I'd get a 10% pay raise only to see it eaten up by a 13% rate of inflation. IMO it's essential that the fed chairman remain independent of the government and its constantly changing political winds. Trump doesn't like interest rates going up because it could damage his re-election bid if it slows the economy.

[Hawktawk]

I would mind. For the past 40 years, the fed has been essential in keeping inflation under control by manipulating interest rates. Back in the 70's, everyone was borrowing on credit. The motto was "better buy today because tomorrow the price goes up." Along with the COLA clauses they had in union contracts, we were caught in an inflation/wage/price death spiral. I'd get a 10% pay raise only to see it eaten up by a 13% rate of inflation. IMO it's essential that the fed chairman remain independent of the government and its constantly changing political winds. Trump doesn't like interest rates going up because it could damage his re-election bid if it slows the economy.

All true RD. Lets dont forget the shyster businessman has lots of huge loans loans out as well so raising interest rates is estimated to cost him MILLIONS OF DOLLARS ANNUALLY in interest payments. One of 1000 reasons you don't want a shyster businessman WHO HAS NOT DIVESTED OF HIS BUSINESS HOLDINGS LIKE EVERY OTHER PRESIDENT making decisions that affect 350 million people in America alone and billions around the world.

[RiverDog]

I would mind. For the past 40 years, the fed has been essential in keeping inflation under control by manipulating interest rates. Back in the 70's, everyone was borrowing on credit. The motto was "better buy today because tomorrow the price goes up." Along with the COLA clauses they had in union contracts, we were caught in an inflation/wage/price death spiral. I'd get a 10% pay raise only to see it eaten up by a 13% rate of inflation. IMO it's essential that the fed chairman remain independent of the government and its constantly changing political winds. Trump doesn't like interest rates going up because it could damage his re-election bid if it slows the economy.

All true RD. Lets dont forget the shyster businessman has lots of huge loans loans out as well so raising interest rates is estimated to cost him MILLIONS OF DOLLARS ANNUALLY in interest payments. One of 1000 reasons you don't want a shyster businessman WHO HAS NOT DIVESTED OF HIS BUSINESS HOLDINGS LIKE EVERY OTHER PRESIDENT making decisions that affect 350 million people in America alone and billions around the world.

Well, I wouldn't necessarily go that far. The point is that the fed chairman has to be insulated from political rhetoric in order to be effective. If he starts reacting to the notoriously short term concerns of any POTUS, then he's not going to have the long term vision needed to steer the economy based on a year-to-year tact.

[idhawkman]

I would mind. For the past 40 years, the fed has been essential in keeping inflation under control by manipulating interest rates. Back in the 70's, everyone was borrowing on credit. The motto was "better buy today because tomorrow the price goes up." Along with the COLA clauses they had in union contracts, we were caught in an inflation/wage/price death spiral. I'd get a 10% pay raise only to see it eaten up by a 13% rate of inflation. IMO it's essential that the fed chairman remain independent of the government and its constantly changing political winds. Trump doesn't like interest rates going up because it could damage his re-election bid if it slows the economy.

The fed isn't what keeps inflation in check and hasn't for almost 30 years. The internet is what keeps inflation in check. Used to be that if someone in Iowa wanted to liquidate their stock it didn't affect the stores in Idaho. now it does. You go online, search for what you want and get the best buy and if other merchants want to move stock, they have to compete with everyone else. I think if you really think about it, you'll agree that I'm right about the inflation.

The only thing the fed does is tighten or loosen money with how much they print and how much they allow banks to loan by setting solvency rates. They don't control inflation at all.

[savvyman]

I wouldn't mind having the fed totally shut down and bring back the monetary policy back into the proper branch of the government. No where in the federalist papers or the constitution do I see a provision for someone outside of government controlling our currency.

I agree. They FED haas no problem with Assets going up 400% - But wages go up finally after 9 years only 3%? And they want to shut down the economy? Below are the results of the Great job by the FED over the past few decades.

wage growth since 1965 copy.png (479.89 KiB) Viewed 904 times