Trump: 'The only problem our economy has is the Fed'

[TomCADem]

Source: Yahoo News

President Donald Trump on Monday renewed his attacks on the Federal Reserve, calling the central bank the “only problem” in the economy.

“They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Border,” Trump said in a Twitter post Monday morning ET. “The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!”

The latest Twitter post riffs on a previous theme the president expressed prior to the Federal Open Market Committee’s meeting last week. Just hours before Fed officials convened last Tuesday, Trump said he hoped “the people over at the Fed” would “feel the market” before “they make yet another mistake,” or decide to raise rates again.

The Federal Reserve announced its decision to raise its benchmark interest rate for the fourth time in 2018 last week, upping the new band 25 basis points to between 2.25% to 2.5%.

Read more: https://www.google.com/amp/s/www.yahoo.com/amphtml/finance/news/trump-only-problem-economy-fed-160605546.html

[NickB79]

1. Because runaway inflation worked so well for 1930's Germany

It destroyed people's purchasing power, made them angry, and set the stage for an evil facist to grab power by claiming to make their nation great again.

Wait a minute.......

[Botany]

2. This has to be a put on news story.

Nobody could be this dumb.

Just because his tax cuts allowed the really rich to buy their company's stocks
which artificially inflated the market or that his trade war with China has made
millions of farmers plow their crops underground because they don't have the
largest market in the world anymore nobody could be stupid enough to blame
the fed for the market and the economy's downturn.

[drray23]

3. Many are this dumb.

I see it around twitter already. His deplorables are echoing that along with the fact that since Democrats took the house the market would start crashing.

[Botany]

4. In many cases "they" even voted for Trump too.

Like this farmer in Louisiana.

https://www.reuters.com/article/us-usa-trade-china-grains/harvesting-in-a-trade-war-us-crops-rot-as-storage-costs-soar-idUSKCN1NQ0GA

or about 1/2 of the workers @ this Lordstown, OH GM plant ... even after Obama and his team saved GM

https://www.cnn.com/2018/11/27/business/gm-plants-closing-lordstown-ohio/index.html

[pangaia]

5. That first story is frightening.

Further ways putin has arranged the destruction of the American economy.
Grocery prices are already going up[ but this will REALLY hit soon.

DEMS must get out in front this pronto.. Not just react to stuff.

Show those fucking repub voters what is about to hit them (AND US) and WHY !

[Botany]

10. Sadly we have a core of people who will always..

... be for Trump and the GOP because Hillary is a d***e b***h, Obama is a n****r, and don't tell me about global warming because it is a lie and don't you dare show me any "science stuff" about it either.

Until and even it hits them @ home their minds are made
up and the rich and powerful will continue to manipulate this group of "lost souls" so they can up being rich and
powerful. That includes people like the Koch brothers and Putin.

We need to write off these people and make sure we turn out to vote and our votes are counted.

[pangaia]

14. Agree with all you say.

I think I just mean all the lost souls who might better be described as 'wandering.'

The ones who CAN be turned around.

I worked a little for the Nate McMurray campaign in western NY trying to oust chris collins. We came really close, which means Nate got the support of a LOT of republicans, as this is a badly gerrymandered repub district.

It's those folks I mean...

[Botany]

16. The depth of their delusions in some cases is massive

Did you know that Obama was gonna bring in Hamas fighters from Lebanon with the help of the UN in order to
get a 3rd term and to take away the people's guns?

I had somebody tell me this after the election in 2012.

People have been fed hate and lies 24/7 for years.

[Lucky Luciano]

13. I work at a large hedge fund. Nobody has said "OMG!! The Dems won!! Market Crash!!"

They talk a lot about tariffs and government shutdowns.

They know raising rates hurts equities, but they understand why.

[INdemo]

15. I have a small annunity with diversified investments and I took a hell of a hit in

just a month
so there of course are those wealthy investors that have taken hits and no one could convince me they are saying
"oh well" and still support this idiot we have in the White House

[Wolf Frankula]

6. He figures he'll do as he always does

Declare corporate bankruptcy and leave the suckers holding.

Wolf

[LastLiberal in PalmSprings]

11. Trump never takes responsibility for any of HIS mistakes.

That keeps him from learning, and allows him to believe he's smarter than everyone else (when the truth is opposite). History will show his vindictive tariffs will be a major factor in the downturn of the global economy, as will his attacks on the Fed and its chairman.

He has to go. Without Mattis and the rest of the adults to reign him in, Trump is going to act on every destructive impulse he has -- which is to say, he'll do whatever Putin tells him to. It's going to be hard enough to recover from two years of his shit -- there are so many relationships to repair with our allies -- but if he stays another two years, it's going to be catastrophic.

What gets me are all the reports of him throwing tantrums (many of which are visible in public appearances and on Twitter) and spending his days obsessing over Fox News and other television reports about him. This is not normal behavior for anyone, let alone a president. We now have an unhinged psychopath having direct control of the world's largest nuclear arsenal, without anyone (like Mattis) to act as a buffer. God help us!

He has got to go.

[paleotn]

18. Seems some of his creditors....

are like those who don't write off non-performing loans without breaking a few legs. I hear polonium tea is all the rage nowadays.

[mellow]

7. I am very eager ...

... to take economic advice from Bankruptcy Boy.

[sakabatou]

8. Ugh, the stupid!

[RockRaven]

9. Translation: "*I* have a problem w/ rising interest rates b/c of my massive variable-rate loan debt"

It's always about him, and how things affect him. Interpret all of his babblings with that in mind.

[duforsure]

12. The Fed doing the same things that worked well for President Obama,

And now trump wants the interest rate lower because of his debt, causing his loan rates to increase, and to run up ours more if he can. This is just an act from trump because it costs him more because of his own debts.

[paleotn]

17. Maybe it's because....

the Trump organization owes millions in variable rate loans and stands to be hammered as rates go up. Well, that's what happens when no reputable financial operation will loan him any money. He has to float garbage debt and accept variable rates. A sure sign of a two bit real estate operation, built on nothing but bluff, bluster and illegal activity.


Back to reality. The Fed should have taken away the heavily spiked punch bowl of extremely low rates some time ago. Then we might not have such a heavy overhang of junk debt. I expect another round of musical chairs in the coming months and woe to those who end up with such debt sitting on their books as "assets", ie. without a chair when the music stops. It rimes quite distinctly with the balance sheet collapse of 07 - 09. The hope is, the Fed can raise rates in small enough increments over time to avoid too much pain but get things back to the normality prior to 2008.

[Ilsa]

19. Trumpy's true believers want him to take down the Fed.

They don't trust it for controlling rates or money supply. For them, and others like Rand Paul and Teabaggers, it's the most important thing they want him to do.

[TomCADem]

20. Bernie Sanders Op-Ed: To Rein In Wall Street, Fix the Fed

In fairness, hasn’t Bernie also attacked the Fed whenever they raise interest rates?

https://www.nytimes.com/2015/12/23/opinion/bernie-sanders-to-rein-in-wall-street-fix-the-fed.html

WALL STREET is still out of control. Seven years ago, the Federal Reserve and the Treasury Department bailed out the largest financial institutions in this country because they were considered too big to fail. But almost every one is bigger today than it was before the bailout. If any were to fail again, taxpayers could be on the hook for another bailout, perhaps a larger one this time.

To rein in Wall Street, we should begin by reforming the Federal Reserve, which oversees financial institutions and which uses monetary policy to maintain price stability and full employment. Unfortunately, an institution that was created to serve all Americans has been hijacked by the very bankers it regulates.

The recent decision by the Fed to raise interest rates is the latest example of the rigged economic system. Big bankers and their supporters in Congress have been telling us for years that runaway inflation is just around the corner. They have been dead wrong each time. Raising interest rates now is a disaster for small business owners who need loans to hire more workers and Americans who need more jobs and higher wages. As a rule, the Fed should not raise interest rates until unemployment is lower than 4 percent. Raising rates must be done only as a last resort — not to fight phantom inflation.

[Ilsa]

22. I don't think Sen. Sanders is on the same page as

Donald's base. Reform and transparency are not the answer for them. Tea Party and the trump base want it dissolved.

[INdemo]

21. Is Trump setting up the firing of the Fed Chairman?

It sure sounds like it.