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Trump hates rate hikes

By gsr follow gsr   2018 Jul 20, 11:04pm 5,020 views   28 comments   watch   nsfw   quote   share    


http://www.latimes.com/business/la-fi-trump-federal-reserve-20180720-story.html#
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In unprecedented back-to-back statements, Drumpf escalated his criticism of the nation’s central bankers for, in his view, hurting the economy by continuing to inch up their benchmark rate in a process known as monetary policy tightening.

After saying Thursday in a CNBC interview excerpt that he was “not thrilled” by the Fed’s recent rate increases, Drumpf took to Twitter on Friday morning to say the hikes were “taking away our big competitive edge” with China and the European Union.
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#housing #trump
1   mell   ignore (6)   2018 Jul 20, 11:16pm     ↓ dislike (0)   quote   flag      

This is definitely an opportunistic flip-flop. He used to criticize the Feds ZIRP - to be fair a bit different than 1%-2% but still - but now that he is in power he doesn't want higher rates so that his economic numbers - which are by almost every measure fantastic nonetheless - stay where they are and don't decline. Don't think it's a big deal, the market barely reacted, neither did the Fed. Keeping his hate relationship with the Fed, could be worse. But def a flip.
2   clambo   ignore (5)   2018 Jul 21, 9:03am     ↓ dislike (0)   quote   flag      

There is no need for the Fed to raise interest rates.

The purpose of raising rates was to combat inflation. Paul Volker raised rates when inflation was over 10%.

I hope they don't raise rates either.
3   Tenpoundbass   ignore (14)   2018 Jul 21, 9:10am     ↓ dislike (0)   quote   flag      

mell says
But def a flip.

If he said he was happy they would cut the rates to 0.025%, now they may raise it to 5% where it belongs. Just to Fuck Trump, Trump is so good he fucks them with their own dicks.
4   mell   ignore (6)   2018 Jul 21, 9:26am     ↓ dislike (0)   quote   flag      

clambo says
There is no need for the Fed to raise interest rates.

The purpose of raising rates was to combat inflation. Paul Volker raised rates when inflation was over 10%.

I hope they don't raise rates either.


Well there is inflation in local goods and services that cannot be imported, just look at housing or healthcare. Overall it is not super high, but prices in general have been rising a bit faster lately. I think the Fed shouldn't exist at all and let the market set the rates.

Tenpoundbass says
mell says
But def a flip.

If he said he was happy they would cut the rates to 0.025%, now they may raise it to 5% where it belongs. Just to Fuck Trump, Trump is so good he fucks them with their own dicks.


Ha maybe.
6   skridlov   ignore (0)   2018 Jul 23, 11:54am     ↓ dislike (0)   quote   flag      

mell says

Well there is inflation in local goods and services that cannot be imported


Trump is setting up a scapegoat if/when his trade policy blows up the economy, the goat is the Fed. Doesnt matter that he appointed Powell. Inflation is still low but the fed wants to get out in front of it. The markets have already built in the higher rates. The big problem politically is the tax cuts have not significantly increased wages yet (it could still happen but unlikely), and the actual tax reductions for many people are pretty insignificant, so rising interest rates are a drag on the economy and will tend to tamp down wages while his trade policy raises the cost imported goods. It gives him less room to maneuver. Plus he has to blame somebody if/when things go south, the buck never stops at his desk, never.
7   MrMagic   ignore (10)   2018 Jul 23, 12:08pm     ↓ dislike (0)   quote   flag      

skridlov says
Plus he has to blame somebody if/when things go south, the buck never stops at his desk, never.


Exactly...

That $20 TRILLION of debt on the books (left by Obama) when he took office is ALL Trump's fault, right?
8   skridlov   ignore (0)   2018 Jul 23, 1:03pm     ↓ dislike (0)   quote   flag      

MrMagic says
ALL Trump's fault


Of course not, but the trade policy change is all his, his actions rightly or wrongly on trade aren't Obama's or Hillary's or the Congress therefore he, not being willng to ever take responsibility when things turn out not as he and his band of retarded advisers say they will, needs to blame someone and its the Fed.
9   Shaman   ignore (2)   2018 Jul 23, 1:14pm     ↓ dislike (0)   quote   flag      

skridlov says
is the tax cuts have not significantly increased wages yet


I’ve been hearing job recruitment ads on the radio lately. Never heard that before. Mostly for blue collar positions. Studies majors probably still have a time finding work.
Anyway the labor market is tight and Trump is trying to keep it that way to make wages go up. It’s starting to work! Wages up about 3% in the last year alone.
10   WookieMan   ignore (5)   2018 Jul 23, 2:02pm     ↓ dislike (0)   quote   flag      

MrMagic says
That $20 TRILLION of debt on the books (left by Obama)


Lol! Debt has been created over pretty much any administration over a 4/8 year period (administration as in what congress passes and the president decides to sign). What you quote also doesn't say that it's all Trump's fault, just he won't take blame (which is true). I don't mind Trump so far, but to put $20T on Obama is laughable. https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
11   MrMagic   ignore (10)   2018 Jul 23, 6:56pm     ↓ dislike (0)   quote   flag      

WookieMan says
Debt has been created over pretty much any administration over a 4/8 year period (


True.

WookieMan says
I don't mind Trump so far, but to put $20T on Obama is laughable.


OK, only HALF of that happened under Obama, the rest was under all previous 43 Presidents.... COMBINED...



LOL
12   Strategist   ignore (2)   2018 Jul 23, 7:14pm     ↓ dislike (0)   quote   flag      

clambo says
There is no need for the Fed to raise interest rates.

The purpose of raising rates was to combat inflation. Paul Volker raised rates when inflation was over 10%.

I hope they don't raise rates either.


Today, the purpose of raising interest rates is to prevent inflation from getting out of hand. Politicians in office will hate it, because they are only looking to benefit in the short term until the next election. The Federal Reserve seems to have a more long term outlook. They know if inflation gets out of hand, we will all pay a very stiff price down the road.
13   Strategist   ignore (2)   2018 Jul 23, 7:18pm     ↓ dislike (0)   quote   flag      

skridlov says
MrMagic says
ALL Trump's fault


Of course not, but the trade policy change is all his, his actions rightly or wrongly on trade aren't Obama's or Hillary's or the Congress therefore he, not being willng to ever take responsibility when things turn out not as he and his band of retarded advisers say they will, needs to blame someone and its the Fed.


You are being kinda hasty with these accusations against Trump. Eventually, it will all work out, and we will benefit the most. China is an unfair trading partner, and always has been. Lets fix it.
14   Strategist   ignore (2)   2018 Jul 23, 7:30pm     ↓ dislike (0)   quote   flag      

Quigley says
skridlov says
is the tax cuts have not significantly increased wages yet


I’ve been hearing job recruitment ads on the radio lately. Never heard that before. Mostly for blue collar positions.


There are more jobs available than job seekers. They are even going after the homeless to fill those jobs. It's a sign of desperation.
I tried to get handymen to work on a condo, and they don't even show up. They are too busy.
A good handyman I use for my own home, did not bother to come by for a month. When he did, he charged me almost twice as much as he normally does.
Dog groomers out here won't give you an appointment for more than a week. They are too busy.
This is insane.
15   skridlov   ignore (0)   2018 Jul 23, 8:03pm     ↓ dislike (0)   quote   flag      

Strategist says

There are more jobs available than job seekers


This is true in certain parts of the country, definitely true where I live. Currently I am in "flyover country" things are not so good job wise. But the number of jobs wasn't the issue, it was: are wages rising from the tax cut as was promoted and promised. So far there not clear indications of that happening to any significant extent. Granted its early, so maybe best wait a few quarters and see, but I am a skeptic. Making the rich richer and corporations fatter (with borrowed money) so that they may willingly bestow their largess upon the working stiff seems a very sketchy proposition to me.
https://www.bloomberg.com/view/articles/2018-07-18/trump-s-tax-cut-hasn-t-done-anything-for-workers
16   MrMagic   ignore (10)   2018 Jul 23, 8:24pm     ↓ dislike (0)   quote   flag      

skridlov says
Currently I am in "flyover country" things are not so good job wise.


Must be looking in the wrong places:

http://www.dailyjobfix.com/

Plenty of jobs in flyover country.

skridlov says
So far there not clear indications of that happening to any significant extent. Granted its early, so maybe best wait a few quarters and see, but I am a skeptic.


Is there suppose to be a change a week after the law is signed?

skridlov says
https://www.bloomberg.com/view/articles/2018-07-18/trump-s-tax-cut-hasn-t-done-anything-for-workers


Ahhh, the SECOND time today a "Opinion" piece is being pushed off as "Fact" from a site known to have a YYUUGGEE bias against Trump.

Tax Revenues Jump 13% To Record High In April — When Will Dems Admit They Were Wrong About Trump's Tax Cuts?

The federal government collected far more taxes this April than it did a year ago, despite the "budget busting" Trump tax cuts. So, we'll ask again: Are the tax cuts paying for themselves? According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%. That's a faster rate of growth than occurred during President Obama's last years in office. Individual taxes, the CBO report says, are up 11.5% so far this fiscal year, and payroll taxes are up 2.8%. Both are signs of a healthy labor market, which is creating more jobs, higher wages and, as a result, more tax revenues.
https://www.investors.com/politics/editorials/trump-tax-cuts-revenues-record-high-april-paying-for-themselves/
17   MrMagic   ignore (10)   2018 Jul 23, 8:27pm     ↓ dislike (0)   quote   flag      

RafiMaas says
When Obama took office the debt was at $10.7 trillion so this meme is a bit dishonest. Also when Obama left the debt was $19.9 trillion so more like $9.2 trillion on Obama's watch.


Crying over a few billion when he destroyed the country by adding TRILLIONS..

Nice...
18   MrMagic   ignore (10)   2018 Jul 23, 8:43pm     ↓ dislike (0)   quote   flag      

RafiMaas says
MrMagic says
Crying over a few billion when he destroyed the country by adding TRILLIONS..

Nice...

Trump is only up to $1.4 trillion, I wouldn't call that trillions yet but he'll get there, don't worry.


Interesting, Obama was up $2.1 Trillion at the same point in his first term. I don't remember any Democrats/Liberals crying over that extreme amount?

Why was that?
19   Strategist   ignore (2)   2018 Jul 23, 9:01pm     ↓ dislike (0)   quote   flag      

skridlov says
But the number of jobs wasn't the issue, it was: are wages rising from the tax cut as was promoted and promised. So far there not clear indications of that happening to any significant extent. Granted its early, so maybe best wait a few quarters and see, but I am a skeptic. Making the rich richer and corporations fatter (with borrowed money) so that they may willingly bestow their largess upon the working stiff seems a very sketchy proposition to me.


When you have a shortage of workers, incomes will rise. It's as simple as that. Another way to increase income is to get a good skill. Skilled employees will get a much better raise. If you can't or will not do anything, why would anyone deserve a raise to begin with?
20   Strategist   ignore (2)   2018 Jul 23, 9:07pm     ↓ dislike (0)   quote   flag      

MrMagic says
Tax Revenues Jump 13% To Record High In April — When Will Dems Admit They Were Wrong About Trump's Tax Cuts?


Wow. Maybe the Welfare Queens declared their prostitution earnings.
21   MrMagic   ignore (10)   2018 Jul 23, 9:27pm     ↓ dislike (0)   quote   flag      

RafiMaas says
probably because we were in a recession the likes of which hadn't been seen since the 1930's.


Ahhh, I see.... when revenues drop, just keep spending like a drunken sailor or increase spending (no offense to sailors). Nice excuse.

So, the recession ended, and Obama tacked on ANOTHER $7- $8 Trillion of debt. Why's that? (Can't wait to hear the excuse for that part.)

RafiMaas says
Did Trump have to deal with the same shit as Obama was handed? If no then why the hell has he add $1.4 trillion?


Wait, first you're defending Obama's spending because he had to clean up Bush's shit, and think he should get a pass, but when Trump is stuck cleaning up the shit Obama left him, it's time to impeach him?

Really? Just how does this Liberal Logic work?
22   MrMagic   ignore (10)   2018 Jul 24, 8:57am     ↓ dislike (0)   quote   flag      

RafiMaas says
Why is it that only Obama's debt is bad?


Why is it that only Trump's debt is bad?
23   FortWayne   ignore (4)   2018 Jul 24, 9:05am     ↓ dislike (0)   quote   flag      

Every president hates rate hikes. Duh!!!
24   Shaman   ignore (2)   2018 Jul 24, 9:18am     ↓ dislike (0)   quote   flag      

Strategist says
The Federal Reserve seems to have a more long term outlook. They know if inflation gets out of hand, we will all pay a very stiff price down the road.


The last time that happened, wages rose 400% and home owners found their mortgages seemed suddenly very small. Debt of all sorts was minimized, and the wealthy had trouble finding investments that could increase their fortunes more than inflation was decreasing the value of their money!

While runaway inflation might not be great for the economy or retirees especially, it’s not horrible for the working class! Many fortunes were made during those years by working stiffs who invested in housing.
25   MrMagic   ignore (10)   2018 Jul 24, 9:45am     ↓ dislike (0)   quote   flag      

RafiMaas says
Personally I would have like to see all those rich fucks loss a shit load of money in 2008.


Really? You think the rich people didn't lose any money in the 2008 melt down?? I'm speechless.....

....."When the economy crashed in the fall of 2008, the wealthiest Americans lost the most money.

From the time the Great Recession started in late 2007 until it officially ended in 2009, the richest 1 percent of America saw its income drop 36.3 percent, according to a new report by economists Emmanuel Saez and Thomas Piketty . Collectively, the top 1 percent lost 49 percent of the billions in wealth that vanished like so much Lehman Brothers stock.





RafiMaas says
At least I can admit that it and don't go walking around with niether Trump's dick nor Obama's dick in my mouth.


Well, your posting history would dispute that.
26   MrMagic   ignore (10)   2018 Jul 24, 10:06am     ↓ dislike (0)   quote   flag      

RafiMaas says
If debt was bad then it should still be bad now only a hippocrate would support Trump's debt over Obama's.


I agree, can you point out anywhere where I've supported Trump's debt.

RafiMaas says
You still haven't explained what shit Trump is stuck cleaning up.


Apparently you've haven't been paying attention.

Start here:

https://www.politico.com/agenda/story/2017/12/29/138-trump-policy-changes-2017-000603
27   skridlov   ignore (0)   2018 Jul 24, 10:43am     ↓ dislike (0)   quote   flag      

Quigley says

The last time that happened, wages rose 400%


On what planet did that occur?
28   MrMagic   ignore (10)   2018 Jul 24, 12:57pm     ↓ dislike (0)   quote   flag      

RafiMaas says
MrMagic says
I agree, can you point out anywhere where I've supported Trump's debt.


Yes


RafiMaas says
Any post made in favor of a tax cut is also in favor of deficit spending.


Wow, talk about reaching.....

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