Guess who?We're doing well as a country. If the Fed would ever lower rates, you know, we'd buy debt for a lot less," Trump said as the workers looked on.
And then we could "afford" tax cuts for the 1%?
"It's a shame, this guy. I have a guy. Do you ever have a guy that's not a smart person and you're dealing with him and you have to deal?" Trump asked the workers.
That's an oddly familiar acenario.
"He's not a smart guy. He's worried about inflation. I said, 'That's all right, if there's inflation in six months or nine months, you lower the rates or you raise the rates. You can do whatever you want'...So let's say there's rampant inflation, which there's none. You know what? There is a success. I got a call from Congress last night: 'Sir, there's a problem.' I said, 'What is it?' 'Money is pouring in. We don't know how to account for it.' I said, 'Check the tariffs.' $88 billion came in from tariffs. No inflation. And it's going to get even more. So, I know what I'm doing. So, we have a stupid person frankly at the Fed."
"He probably won't cut today. Europe had 10 cuts and we had none. And I guess he's a political guy. I don't know. He's a political guy who's not a smart person, but he's costing the country a fortune. So, what I'm going to do is, you know, he gets out in about nine months. He has to. He gets fortunately terminated."
Trump then claimed people are losing "hundreds of billions" and "even trillions of dollars," because Powell is "too late" cutting interest rates.
"I call him 'Too Late Powell,' because he's always too late. I mean, if you look at him, every time I did this, I was right 100%. He was wrong. Maybe I should go to the Fed. Am I allowed to appoint myself? I don't know. Am I allowed to appoint myself at the Fed? I'd do a much better job than these people."
Who is going to explain to him that the Fed is not a sole proprietorship, and Powell does not set interest rates by fiat? And Trump appointing himself to chair the Fed? Even Lindsay Graham wouldn’t lapdog that one.
Trump bombs Iran I hope no one is counting on the price of oil falling. Or that everything isn't going to go to total hell. And without the prep of having Colin Powell lie to the UN or any of that. Three major wars in a quarter of a century at the behest of he Israeli government is going to prove too much for most Americans rather fast. Probably those in the military and their families first of all.
ReplyDeleteWe bombed shit out of Germany. It was boots on the ground that caused Germany to surrender. Trump has said only complete surrender will be accepted. We won’t get to that with drones and “bunker busters.” I seriously doubt we have the manpower to get there. I know we don’t have the national will. Yeah, I guess we’ll all be anti-semites soon.
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