King trump wants to fire the Fed Chief

[JimH52]

https://www-m.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html?r=https://www.cnn.com/

He won't be happy until he has double digit inflation and a bankrupt America..IDIOT!

Jim you’re the only idiot, you cannot raise rates this fast, I’m in Housing and we are in a down market moron! Housing is crucial to a growing economy and its not working well at the moment. We’ve had sub 5% rates for almost a decade and now we’re north of 5%! Get your head out of your ass moron!

Powell is Fed Chair.....AND YOU ARE A NOBODY!

Jim your ignorance is showing, Powell has raised the rates too fast! The market has proven this, all you have to have is a BRAIN!

Merry Christmas...

Gee...call FOX! Maybe they can get you a job in the White House. I heard there is plenty empty office space. Maybe you and Miller can come up with some more Nazi policies?

 

[GWV5903]

https://www-m.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html?r=https://www.cnn.com/

He won't be happy until he has double digit inflation and a bankrupt America..IDIOT!

Jim you’re the only idiot, you cannot raise rates this fast, I’m in Housing and we are in a down market moron! Housing is crucial to a growing economy and its not working well at the moment. We’ve had sub 5% rates for almost a decade and now we’re north of 5%! Get your head out of your ass moron!

Powell is Fed Chair.....AND YOU ARE A NOBODY!

Jim your ignorance is showing, Powell has raised the rates too fast! The market has proven this, all you have to have is a BRAIN!

Merry Christmas...

Gee...call FOX! Maybe they can get you a job in the White House. I heard there is plenty empty office space. Maybe you and Miller can come up with some more Nazi policies?

The Market always tells the story, maybe you’ll learn this someday...

 

[McRocket]

I think the Fed fucked up raising rates so fast with no sign of inflation. The Feds' unwinding of the $4T of QE on its books at $50b a month in addition to raising interest rates was probably too aggressive considering the frailness of the world economies. I hope Jerome walks back his prediction for 2 rate hikes in 2019.
Federal Reserve Board - Recent balance sheet trends

You have a degree in economics...do you?

No, just investments and financial responsibilities. I can also Monday morning QB on these forums. I don't think I saw any of your posts in the economics section??

trump cannot fire the head of an organization 80% privately owned..Bang...

Actually, he probably can:

'and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.'

Federal Reserve Board - Section 10. Board of Governors of the Federal Reserve System

'cause' has never been determined in court...so unless Congress tries to stop him, Trump could probably fire Powell.

 

[g5000]

So you no have issue with the interest being charged for "borrowing" the money for your programs at interest?

First, that interest earned is given to the US Treasury after operating expenses are deducted.

Second, did you ever stop to think that if Deficit Donald didn't SPEND more than the government receives in revenues, he wouldn't have to borrow so fucking much?

He just submitted a budget which has a TRILLION DOLLAR DEFICIT.

Dipshit Donald has DOUBLED the deficit.

That shit isn't the Fed's fault. It's ALLLLLLLLLL Trump.

 

[g5000]

I think the Fed fucked up raising rates so fast with no sign of inflation. The Feds' unwinding of the $4T of QE on its books at $50b a month in addition to raising interest rates was probably too aggressive considering the frailness of the world economies. I hope Jerome walks back his prediction for 2 rate hikes in 2019.
Federal Reserve Board - Recent balance sheet trends

You have a degree in economics...do you?

No, just investments and financial responsibilities. I can also Monday morning QB on these forums. I don't think I saw any of your posts in the economics section??

trump cannot fire the head of an organization 80% privately owned..Bang...

Actually, he probably can:

'and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.'

Federal Reserve Board - Section 10. Board of Governors of the Federal Reserve System

'cause' has never been determined in court...so unless Congress tries to stop him, Trump could probably fire Powell.

"Cause" means criminal behavior. Like violating campaign finance laws to pay off your hooker girlfriend.

Shit like that.

It does NOT mean "because the apprentice president is having a snit".

 

[g5000]

READ MY LINK IDIOTS!


The Fed is “privately owned” in the sense that member banks that join the Fed umbrella are required by Law to put up money to purchase an amount of shares of the Fed.

Those are non-voting shares. Shares cannot be sold or traded. Dividends are fixed at 6% by Law.

The reality is more like the “owners” are owning the equivalent of a “security deposit” such as when a firm leases a warehouse or retail space to conduct business, they will likely have to put up a security deposit.

So if the Fed is “privately owned”, but Congress can control and change the Laws governing Fed operations by passing legislation or rules changes — and has, over 200 times — and the President gets to appoint (but not fire) the Chairman and Board of Governors, with confirmation by the Senate ..

So you no have issue with the interest being charged for "borrowing" the money for your programs at interest?

I have a problem with double digit inflation. That is what the Fed is fighting. Your orange king doesn't get it.

You can wait until it happens before you do something about it.

A little undirected reading would do you a world of good. All your doing is regurgitating the crap you read in the MSM. The raising of the rates is tanking the Market, it's just that simple.

Nope. Trump's shutdown, trillion dollar deficit, and failing tariff war are tanking the market.

His tariff war killed the market the entire year. Long before the 25 basis point hike.

25 basis points and you tards are acting like it's Armageddon while you ignore the fuckwit doubling the federal deficit.

 

[g5000]

Heritage Experts Analyze President Trump's FY 2019 Budget Proposal

This morning, the Trump administration released its fiscal year 2019 budget proposal. This is President Trump’s second budget proposal since becoming president. Below is reaction from multiple Heritage Foundation experts on the President’s proposal.

<snip.

However, this proposal would add an additional $7 trillion to the national debt – something not even a big spender like President Obama ever proposed.

 

[g5000]

Remember when the pseudocons cared about debt? Ain't it funny how they have gone radio silent about debt for the past two years while Trump DOUBLED THE DEFICIT?

Heritage Foundation: High Debt Is a Real Drag

Three teams of economists have separately shown that high government debt has a negative effect on long-term economic growth. When government debt grows, private investment shrinks, lowering future growth and future wages.

Estimates across advanced economies show that debt drag reaches large and statistically significant levels as debt grows, with the worst effects occurring after debt reaches 90 percent of gross domestic product (GDP). With U.S. federal, state, and local government debt at 84 percent of GDP and rising, policymakers should begin taking debt drag into account when considering new deficit spending.

 

[g5000]

More from the Heritage Foundation: The Many Real Dangers of Soaring National Debt

Recent and projected growth in U.S. government debt poses a serious hazard to the nation. At a minimum, high levels of government debt mean substantial government resources must go toward servicing debt—to pay interest. Further, theory indicates and a growing body of research suggests a consistent relationship between high levels of government debt relative to the size of the economy and abnormally high interest rates consistent with lower levels of domestic investment.

 

[g5000]

CBO Director’s Statement About the Budget and Economic Outlook for 2018 to 2028

Deficits Are Set to Increase Rapidly Over the Next Four Years
In the Congressional Budget Office’s baseline projections, which incorporate the assumption that current laws governing taxes and spending generally remain unchanged, the federal budget deficit grows substantially over the next few years. Later on, between 2023 and 2028, it stabilizes in relation to the size of the economy, though at a high level. As a result, federal debt is projected to be on a steadily rising trajectory throughout the coming decade—approaching 100 percent of gross domestic product by 2028.


Thanks Trump!

 

[g5000]

These retarded End-the-Fed fuckwits think our politicians should be the ones with their hands on the monetary printing press.

You know what Congress would have done if that were the case. You know damned well.

That $22 trillion debt we have? They would have printed it.

We'd have an extra $22,000,000,000,000 in circulation right now.

 

[g5000]

The problem isn't the Fed. The problem is dumb fucks like Deficit Donald, writing trillion dollar checks the American taxpayer can't cash.

"...growth in U.S. government debt poses a serious hazard to the nation..."

"When government debt grows, private investment shrinks, lowering future growth and future wages."

"...policymakers should begin taking debt drag into account when considering new deficit spending."

 

[toobfreak]

He won't be happy until he has double digit inflation and a bankrupt America..IDIOT!

Far better a King Trump than a Jizz Boy Jerk Muslim.

 

[McRocket]

I think the Fed fucked up raising rates so fast with no sign of inflation. The Feds' unwinding of the $4T of QE on its books at $50b a month in addition to raising interest rates was probably too aggressive considering the frailness of the world economies. I hope Jerome walks back his prediction for 2 rate hikes in 2019.
Federal Reserve Board - Recent balance sheet trends

You have a degree in economics...do you?

No, just investments and financial responsibilities. I can also Monday morning QB on these forums. I don't think I saw any of your posts in the economics section??

trump cannot fire the head of an organization 80% privately owned..Bang...

Actually, he probably can:

'and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.'

Federal Reserve Board - Section 10. Board of Governors of the Federal Reserve System

'cause' has never been determined in court...so unless Congress tries to stop him, Trump could probably fire Powell.

"Cause" means criminal behavior. Like violating campaign finance laws to pay off your hooker girlfriend.

Shit like that.

It does NOT mean "because the apprentice president is having a snit".

It does not necessarily mean 'criminal behavior'.

'cause
noun
\ˈkȯz \
Definition of cause
(Entry 1 of 2)

1a: a reason for an action or condition'

Definition of CAUSE

If Trump can prove that the Fed is doing undue harm to the economy...that would certainly be 'cause', IMO.

You cannot just have (for example) the Fed printing trillions of dollars every hour for weeks (which is legal and it can do without Congressional approval) and not have the POTUS/Congress be able to stop them. That would be crazy.
Remember, the Fed could buy every, single American bank and corporation if it wanted (if it could get it's hands on enough stock) and it can legally 'print' infinite amounts of American dollars. It is literally the most powerful economic force on the planet...by FAR.
Of course the POTUS/Congress can fire it's Chairperson for almost any 'cause' it feels is justified. It would be HUGELY, potentially dangerous if it could not.


Now I personally do not want the Fed Chairman fired. But it is obvious that Trump probably could fire him (if Congress went along or - at least - did not try to stop him).

 

[basquebromance]

i predicted Trump was gonna get in a wrestling match with the fed on these very boards (after i heard Michael Savage predicting it on his radio show)

 

[McRocket]

These retarded End-the-Fed fuckwits think our politicians should be the ones with their hands on the monetary printing press.

You know what Congress would have done if that were the case. You know damned well.

That $22 trillion debt we have? They would have printed it.

We'd have an extra $22,000,000,000,000 in circulation right now.

Not end the Fed, but simply end it's powers to manipulate the economy.

And to prevent government spending wildly, you just put a rock-solid law that Congress can never post a deficit unless a declared war was on.

The Fed has FAR too much economic power and has done FAR too much damage.
They completely botched the housing boom...keeping rates far too low for far too long.
And they did the same thing after 2009. Plus, their ridiculous ZIRP and QE's have massively widened the wealth gap, caused record amounts of debt to be floating around and have created a giant debt bubble.
Plus, they have proven time and again how monumentally ignorant they are about how economies actually work.

Fed Misread Crisis in 2008, Records Show

While the economy was falling apart...these macroeconomic ignoramuses completely underestimated it.

Remember, these people are bankers...not economists. And bankers usually stink at economics...but are great bean counters.

At the VERY least, the Fed should have it's ridiculous 'full employment' mandate taken away.

 

[McRocket]

Heritage Experts Analyze President Trump's FY 2019 Budget Proposal

This morning, the Trump administration released its fiscal year 2019 budget proposal. This is President Trump’s second budget proposal since becoming president. Below is reaction from multiple Heritage Foundation experts on the President’s proposal.

<snip.

However, this proposal would add an additional $7 trillion to the national debt – something not even a big spender like President Obama ever proposed.

Heritage.org...those neocon nutjobs.

It's interesting what they say...but let's just look at the facts:

https://www.fiscal.treasury.gov/files/reports-statements/mts/mts.pdf

The first two months or FY 2019 have seen an average monthly deficit of just over $152 billion. Over a full year - at that rate - that equals a $1.8+ trillion deficit for FY 2019.

The deficit is (apparently) COMPLETELY out-of-control.

 

[ThunderKiss1965]

https://www-m.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html?r=https://www.cnn.com/

He won't be happy until he has double digit inflation and a bankrupt America..IDIOT!

King ? You really do not understand how the US Government works.

 

[JimH52]

READ MY LINK IDIOTS!


The Fed is “privately owned” in the sense that member banks that join the Fed umbrella are required by Law to put up money to purchase an amount of shares of the Fed.

Those are non-voting shares. Shares cannot be sold or traded. Dividends are fixed at 6% by Law.

The reality is more like the “owners” are owning the equivalent of a “security deposit” such as when a firm leases a warehouse or retail space to conduct business, they will likely have to put up a security deposit.

So if the Fed is “privately owned”, but Congress can control and change the Laws governing Fed operations by passing legislation or rules changes — and has, over 200 times — and the President gets to appoint (but not fire) the Chairman and Board of Governors, with confirmation by the Senate ..

So you no have issue with the interest being charged for "borrowing" the money for your programs at interest?

I have a problem with double digit inflation. That is what the Fed is fighting. Your orange king doesn't get it.

You can wait until it happens before you do something about it.

A little undirected reading would do you a world of good. All your doing is regurgitating the crap you read in the MSM. The raising of the rates is tanking the Market, it's just that simple.

Nope. Trump's shutdown, trillion dollar deficit, and failing tariff war are tanking the market.

His tariff war killed the market the entire year. Long before the 25 basis point hike.

25 basis points and you tards are acting like it's Armageddon while you ignore the fuckwit doubling the federal deficit.

If Dem ran such a deficit during a good economy...the GOP would be squealing and threatening. But NOT A WORD about the fool trump.

MUELLER IS COMING...and the Dem House will not let the mole Whitaker bury the report.

 

[JimH52]

https://www-m.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html?r=https://www.cnn.com/

He won't be happy until he has double digit inflation and a bankrupt America..IDIOT!

King ? You really do not understand how the US Government works.

He thinks he is a King and has a Regime...not an Administration.