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When the Fed Became
a Socialist Job Creator

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Posted By: tisHimself, 7/9/2019 9:16:27 AM

The rhetorical battle between President Donald Trump and Federal Reserve Board Chairman Jerome Powell is nothing if not amusing. But beneath the political theater is a darker reality: the longer-term drift of America’s economics from the old world prudence of the 19th century to the silly socialism of the 21st. The battle between democratic free markets and state socialism has deep roots stretching back more than a century to World War I, the Great Depression, and World War II.

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Reply 1 - Posted by: MDConservative 7/9/2019 9:43:31 AM (No. 118459)
FTA: “When you start to use money as a tool of government, for regulating the economy, then that’s at the expense of what money is meant to be—which is a reliable measure of dependable stored value.” Ever since FDR, Presidents have been held responsible for the performance of the economy and employment. One who learned the lesson and the link between easy money and a growing economy was Dubya, whose father lost an election during one of those "worst than the Big Depression" downturns, accused of being unable to manage the economy. Among other things, his economic policies led to the Crash of 2008 after the longest economic expansion in history. Today, Trump takes credit for job growth and again is beating the Fed to maintain lower interest rates to keep the hot fires burning. Eventually, it all comes to an end. And who is expected to fix it? The President and government. "It's the economy, stupid." Pocketbook issues. A chicken in every pot.
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Reply 2 - Posted by: JackBurton 7/9/2019 4:09:50 PM (No. 118897)
You raise rates to strengthen the dollar, slow the economy (when overheating) and in response to inflation. None of which are needed now. Further, buy a copy of the Wall Street Journal and check out the bond page. Half of our economic, financial competitor countries have NEGATIVE rates... for 2 AND 10 year debt. WHY raise our rates? Well, because it's in the interest of the deep state... but I can't think of any other reason. Meanwhile, the best way to keep from having negative rates as an incentive to get involved in the economy (produce/consume) is to have positive returns on business. Lower taxes helps. Less regulation helps. Growth helps most of all.
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