Krugman thread on Mnuchin's idiotic calls to bank CEOs today

[highplainsdem]

Starting here:

Link to tweet

This is amazing. It's as if Mnuchin was trying to create a panic over something nobody was worried about until this release 1/




Alternatively, Mnuchin could just be an idiot 2/






Not just me 3/






You know, nobody seriously trying to think about the economic risks is envisioning a replay of 2008; the problems now are much less bank-centered, much more about trade and lack of monetary space. But *maybe Mnuchin doesn't know that* -- and maybe nobody in the admin does 4/




We should take seriously the possibility that we're looking at an economic team as clueless as their boss -- and that they'll respond to real problems by firing off off-point tweets from various golf courses 5/

[guruoo]

1. Disaster capitalism at work here? nt

[wasupaloopa]

2. You'll have to watch Faux News to get the rest of the story. Then talk to your wing nut neighbors

and see if they are afraid of anything besides Mexicans.

[Wellstone ruled]

5. Yah,that will work.

Trouble is,my wing nut Neighbors would not have a friggin clue. But,need to get rid of them Mexicans. You can not fix Stupid.

[rgbecker]

3. Future Shock....

They're going to take advantage of the coming/continuing chaos.

Hang on.

[edhopper]

4. They want to blame it on the Feds

and fire Powell.

[Brother Buzz]

7. I wonder if firing Powell will be next to impossible with "Low IQ" Waters running point on the....

Financial Services Committee come 03 Jan.

Waters Chosen by House Democrats to Be First Woman and African American to Chair Financial Services Committee
https://democrats-financialservices.house.gov/news/documentsingle.aspx?DocumentID=401703

............................................

The United States House Committee on Financial Services, also referred to as the House Banking Committee and formerly known as the Committee on Banking and Currency, is the committee of the United States House of Representatives that oversees the entire financial services industry, including the securities, insurance, banking and housing industries. The Financial Services Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission and other financial services regulators. It is currently chaired by Republican Jeb Hensarling from Texas; its Ranking Member is Democrat Maxine Waters from California. Waters has been elected as chair of the committee, and will assume office on January 3rd 2019.


I may be off the mark, but it looks like Maxine Waters is poised the become a burr under the orange one's saddle.

[Hekate]

6. "Alternatively, Mnuchin could just be an idiot" -- Spot on, Dr. Krugman. nt

[Volaris]

8. Lol@them thinking capital liquidity is going to be the problem if the crash comes

It seems they're fighting the last war, cause they aren't smart enough to know better.


I hope the bank ceos are smart enough to realize not to panic just the OrangeOnes lackeys....aren't.