Donald wants free money

[Sooner-Be-Dead]

(Bloomberg) - President Donald Trump urged the Federal Reserve to lower interest rates to a level typically reserved for recessions or periods of persistently weak growth, suggesting that such a setting could allow the government to refinance Treasury debt at a lower cost.

The Fed should “get our interest rates down to ZERO, or less,” Trump said in an early Wednesday tweet that went beyond his previous attacks and demand for a cut of one percentage point. “We should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term.”

 

[lucas80]

Not only would this be good for America, it would be good for guys who are crappy at borrowing money and are choking on debt linked to failed golf courses.

 

[blackbones]

At the same time talking out of the other side of his mouth saying the economy is doing great.. Turd

 

[cigaretteman]

Horrible idea. I hope the fed stands firm, but am not confident that they will.

 

[BABiscuit]

Strongest economy ever!

Fed please make people pay us for the privilege of loaning us money.

 

[Hawk_4shur]

Super idea. The millions of Americans that need interest on their CD's for income won't mind at all when they go to 0%.

 

[seminole97]

I’m sure when Krugman calls for some more rates cuts to create a bigger bubble y’all will hop back onboard.

 

[Fijimn]

I’m sure when Krugman calls for some more rates cuts to create a bigger bubble y’all will hop back onboard.

At a time of negative GDP growth or minimal, yes, I think Keynesian economic theory proved to be correct at that time.

 

[cigaretteman]

At a time of negative GDP growth or minimal, yes, I think Keynesian economic theory proved to be correct at that time.

Yep.

 

[Sooner-Be-Dead]

Super idea. The millions of Americans that need interest on their CD's for income won't mind at all when they go to 0%.

Eh. They should just go buy a golf course if they think rates are too low.

And if the operating costs are too high, they should just sell luxury condos on their golf course to Russian oligarchs for cash.

 

[seminole97]

At a time of negative GDP growth or minimal, yes, I think Keynesian economic theory proved to be correct at that time.

You think the correct response to the popping of the tech bubble was to create the housing bubble?
It was indeed the Keynesian response, but I’m curious if you think that was actually the best approach.

 

[TheCainer]

You think the correct response to the popping of the tech bubble was to create the housing bubble?
It was indeed the Keynesian response, but I’m curious if you think that was actually the best approach.

lol

 

[Torg]

Eh. They should just go buy a golf course if they think rates are too low.

And if the operating costs are too high, they should just sell luxury condos on their golf course to Russian oligarchs for cash.

And hire cheap illegal immigrants to work there

 

[Fijimn]

You think the correct response to the popping of the tech bubble was to create the housing bubble?
It was indeed the Keynesian response, but I’m curious if you think that was actually the best approach.

I think that the situation that occurred after the collapse of Bear Sterns, AIG and variousl mortgage banks and the ceasing of the credit markets (long and short-term) that cutting rates, QE and increasing government was the correct decision and, most likely, the only decision -- less we were to return to a barter system and survivalist. I have an issue with former Goldman shareholders letting their competition fail while saving their golden goose -- and no one going to jail.

 

[Hawk_4shur]

The President of the United States called Chairman Powell and his associates at the Federal Reserve "boneheads".

I just can't get used to this. Our 6th grade POTUS name calling other folks in government. Not only is it stupid and childish, it's counter-productive. What kind of confidence in our economy do people feel when the POTUS calls a key economic tool a childish name?

 

[lucas80]

You think the correct response to the popping of the tech bubble was to create the housing bubble?
It was indeed the Keynesian response, but I’m curious if you think that was actually the best approach.

Sometimes it seems like you know some stuff about money, and then you post stuff like this.

 

[lucas80]

Super idea. The millions of Americans that need interest on their CD's for income won't mind at all when they go to 0%.

Punishing responsible savers.

 

[lucas80]

Horrible idea. I hope the fed stands firm, but am not confident that they will.

Easy solution here. FIre them all, and get some sycophants to replace them. Fire every single one who won't pledge fealty.

 

[seminole97]

Sometimes it seems like you know some stuff about money, and then you post stuff like this.

Did you forget Krugman’s calls in 2001 for further reducing the interest rates in his expressed hope of ‘stimulating’ housing? He got exactly what he wanted, but for some reason he didn’t want credit for the consequences.

ALL of the credit manipulation is ultimately bad for the economy because, as Greenspan said, “The law of supply and demand is not to be conned.”

Frankly, we couldn’t have gotten to this point where our govt and private debt are so high without FR’s price manipulation.
It’ll come to tears, it always does.

 

[joelbc1]

(Bloomberg) - President Donald Trump urged the Federal Reserve to lower interest rates to a level typically reserved for recessions or periods of persistently weak growth, suggesting that such a setting could allow the government to refinance Treasury debt at a lower cost.

The Fed should “get our interest rates down to ZERO, or less,” Trump said in an early Wednesday tweet that went beyond his previous attacks and demand for a cut of one percentage point. “We should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term.”

We could have begun to refinance our debt 2 1/2 years ago, right? When those rates were that low. But instead my President decided to grandstand and give the military Carte Blanche and then cut his friends taxes some more.
Besides lying every day, my President allowed a few moments of greatness to slip away by making poor decisions.

 

[seminole97]

I think that the situation that occurred after the collapse of Bear Sterns, AIG and variousl mortgage banks and the ceasing of the credit markets (long and short-term) that cutting rates, QE and increasing government was the correct decision and, most likely, the only decision -- less we were to return to a barter system and survivalist.

Nonsensical FUD.
The industrial capacity of the country wasn’t destroyed.
There was simply going to be new holders to the titles of what capital and capital goods remained after losses were realized and debts were paid to the extent possible.
The Goldmans of the world weren’t interested in that. Instead they turned to the printing press (via backstops measuring in the 10s of trillions of dollars from the Federal Reserve) and were able to socialize their losses via inflation.

I have an issue with former Goldman shareholders letting their competition fail while saving their golden goose -- and no one going to jail.

Me too.
I’d eliminate the system they designed over a hundred years ago to bail themselves out and stick us with the cost.
Counterfeiting should always be a crime, because it is real theft.

 

[PerkyForHerky]

We could have begun to refinance our debt 2 1/2 years ago, right? When those rates were that low. But instead my President decided to grandstand and give the military Carte Blanche and then cut his friends taxes some more.
Besides lying every day, my President allowed a few moments of greatness to slip away by making poor decisions.

I'm proud of you.

 

[Run&Blade]

He should vote democrat.

They are all promising it.

 

[joelbc1]

I'm proud of you.

Perky..,I have always been for a “controlled” budget. We basically have always had one in my lifetime UNTIL. Reagan sold the bullshit of “ supply side economics” as a way to cut taxes for the rich and the supply side fantasy of “ trickle down” economics.
Bill Clinton understood the bullshit and modified the tax structure to where he could get by. He was also smart enough to make a deal with House Republicans to balanced spending....mainly using “ pay-go” to keep things in balance. Sadly, when Bill left, so did the desire of the government to keep its expenses under control. 9/11 followed a foolish tax rebate and tax cuts, 2 wars half way around the world followed, and then a GOP congress chose to “ look the other way” and allow the financial vipers of the nation to rape and pillage in the name of capitalism. Now, we are where we are...and no one to blame but us. There are individual responsibilities on both sides of the aisle but collectively, the position of the GOP leadership the past 20 years ( its positions on deregulation, reducing oversight and allowing corporate rights expansion at the expense of your rights and mine) has to bear the brunt of “ fault” here.

 

[joelbc1]

He should vote democrat.

They are all promising it.

Perhaps. But my President is actively advocating for it....and the GOP says nothing.

 

[Herkmeister]

The King and Queen of FREE MONEY!!!!!!!!!!!

Screw consequences of your own actions!!!

 

[PerkyForHerky]

Perky..,I have always been for a “controlled” budget. We basically have always had one in my lifetime UNTIL. Reagan sold the bullshit of “ supply side economics” as a way to cut taxes for the rich and the supply side fantasy of “ trickle down” economics.
Bill Clinton understood the bullshit and modified the tax structure to where he could get by. He was also smart enough to make a deal with House Republicans to balanced spending....mainly using “ pay-go” to keep things in balance. Sadly, when Bill left, so did the desire of the government to keep its expenses under control. 9/11 followed a foolish tax rebate and tax cuts, 2 wars half way around the world followed, and then a GOP congress chose to “ look the other way” and allow the financial vipers of the nation to rape and pillage in the name of capitalism. Now, we are where we are...and no one to blame but us. There are individual responsibilities on both sides of the aisle but collectively, the position of the GOP leadership the past 20 years ( its positions on deregulation, reducing oversight and allowing corporate rights expansion at the expense of your rights and mine) has to bear the brunt of “ fault” here.

I was proud of you for referring to Trump as your president.

 

[jamesvanderwulf]

Punishing responsible savers.

Agreed. Responsible baby boomers have been loaning their hard earned money to those shiftless millennials for far too long...

 

[Milton Friedman disciple]

Super idea. The millions of Americans that need interest on their CD's for income won't mind at all when they go to 0%.

CDs are a lazy person’s investment.

 

[Hawk_4shur]

CDs are a lazy person’s investment.

Yes, my father is 92 and living in a care facility. He has a lot of money in CD's. He can barely walk or see, but I suppose he's "lazy" too.