Another controversy awaits.

Mac1958 said:
Clumsy and transparent attempt at deflection appreciated.

Trum
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Mac1958 said:
Clumsy and transparent attempt at deflection appreciated.

Trump is an economic illiterate.
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Biden/Harris and the Democrats spun inflation out of control to record levels last Administration and you people were telling US how great the economy was doing and now you are concerned about Trump’s economic policies.
 
LeftofLeft said:
Biden/Harris and the Democrats spun inflation out of control
Click to expand...
Let me start with this question. Do you acknowledge that post-COVID inflation was a global phenomenon?
 
berg80 said:
Let me start with this question. Do you acknowledge that post-COVID inflation was a global phenomenon?
Click to expand...
What was so phenomenal about global inflation post-COVID? I’ve never denied its existence but I have questioned the Biden-Harris policies that exacerbated global inflation on US.
 
berg80 said:
Powell has moved to try to defuse one of the pretenses trump may use.

Powell asks inspector general to review $2.5 billion renovation after Trump blasts Fed project​

Click to expand...
You mean this?

The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue.

Fed Chair Jerome Powell asked for the review, following blistering criticism of the project, initially pegged at $2.5 billion but hit by cost overruns that have brought accusations from President Donald Trump and other administration officials of “fundamental mismanagement.”

“The idea that the Fed could print money and then spend $2.5 billion on a building without real congressional oversight, it didn’t occur to the people that framed the Federal Reserve Act,” Kevin Hassett, director of the National Economic Council, said Monday on CNBC’s “Squawk Box.” “We’ve got a real problem of oversight and excess spending.”

The inspector general serves the Fed and the Consumer Financial Protection Bureau and is responsible for looking for fraud, waste and abuse. Powell’s request was reported first by Axios.

What is Trump Pretending? Is it fake that the Fed Chairman is spending in excess of $2.5B expanding the Fed building at a time when even Medicaid recipients are being asked to tighten their belts and get to work for the sake of preventing a fiscal disaster?

How is the Fed Chairman sending his own employee to check to see of the Fed Chairman is doing a good job going to "defuse" it? Will the Inspector General be able to get that money back?
 
frigidweirdo said:
You think it's instantaneous?

He's talking about imposing tariffs on August 1st.... and you're saying "well, the inflation hasn't come yet"... well, duh
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They don't know how tariffs work.

They have no concept of domestic supply chains.

They think the other country pays the tariffs.

They are Trumpsters.
 
LeftofLeft said:
you people
Click to expand...
"You people" -- Americans across the political spectrum, including many conservatives who are horrified about Trumpism, not to mention Trump's former WH staff, former Chief of Staff, former Vice President, former Cabinet, former Generals, former WH attorneys, former Security Department officials, conservative judges, conservative attorneys and many current and former Republican elected officials.

And YOU KNOW THAT.

Yeah. "You people".

:rolleyes:
 
berg80 said:
President Donald Trump suggested that a $2.5 billion renovation plan at the Federal Reserve might be sufficient cause to fire Fed Chair Jerome Powell, an escalation of his recent attacks against the central banker.

“I think he’s terrible… But the one thing I didn’t see him as a guy that needed a palace to live in,” Trump told reporters. “But the one thing I would have never guessed is that he would be spending two and a half billion dollars to build a little extension onto the Fed.”

He's grasping to find a rationale to fire Jerome when we all know the actual reason Dotard wants to fire him.
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Yer kewl with the 2.5 Billion Dollar Boondoggle, then?

Yer kewl with the idea of the Fed and the Consumer Financial Protection Bureau simply printing money for projects to agrandize themselves, with no oversight from Congress?

Yes, it was very clever of Powell to start an IG investigation.

Wanna bet that when Powell is called before Congress and asked about the Boondoggle, he says he can't talk about it due to an ongoing investigation?
 
Mac1958 said:
They don't know how tariffs work.

They have no concept of domestic supply chains.

They think the other country pays the tariffs.

They are Trumpsters.
Click to expand...
Yep, in a fantasy world, everything your overlord does is amazing because you get told it is. Trump knows this, he takes credit for anything and everything, and passes the blame for things he things are bad (like Powell).
 
Mac1958 said:
"You people" -- Americans across the political spectrum, including many conservatives who are horrified about Trumpism, not to mention Trump's former WH staff, former Chief of Staff, former Vice President, former Cabinet, former Generals, former WH attorneys, former Security Department officials, conservative judges, conservative attorneys and many current and former Republican elected officials.

And YOU KNOW THAT.

Yeah. "You people".

:rolleyes:
Click to expand...
What people outside of Democrats and Liberals were telling US how great the economy was under BidenHarris? YOU need to go back and re-read my post.
 
berg80 said:

Trump Wants Lower Rates. Firing Powell Could Push Them Higher.​

Investors (meaning the bond market participants), not the Fed, control the interest rates that matter most to businesses and consumers. They might demand higher returns if the central bank’s independence comes into question.
Click to expand...
I think firing Powell would have more of a negative impact on the stock market than interest rates.
 
LeftofLeft said:
What people outside of Democrats and Liberals were telling US how great the economy was under BidenHarris? YOU need to go back and re-read my post.
Click to expand...
What people outside of Trump and MAGAs were telling us how great his economy was in his first term?

What people outside of Trump and MAGAs are telling us how great his economy is now? The first quarter GDP growth contracted to 0.5% and inflation is rising.
 
berg80 said:

Trump ‘likely’ will fire Fed Chair Powell ‘soon,’ White House official says​

President Donald Trump told a room full of Republican lawmakers that he will fire Federal Reserve Chair Jerome Powell, after receiving approval from them to make the move, a senior White House official told CNBC.

Amid repeated denials from administration officials and high-ranking Republicans, the exchange came Tuesday evening in the Oval Office, following Republicans blocking a vote on cryptocurrency legislation that Trump has favored.

“The President asked lawmakers how they felt about firing the Fed Chair. They expressed approval for firing him. The President indicated he likely will soon,” said the official, who spoke on the condition of anonymity to speak candidly on the issue.

Powell has moved to try to defuse one of the pretenses trump may use.

Powell asks inspector general to review $2.5 billion renovation after Trump blasts Fed project​


Everyone knows this isn't about renovations. It's about the Fed holding rates steady before the evidence of whether tariffs are causing inflation is in. Don wants cuts now to boost the economy for political reasons as his government falters and fails in so many other areas.
Click to expand...
Soros and shit
 
berg80 said:

Trump ‘likely’ will fire Fed Chair Powell ‘soon,’ White House official says​

President Donald Trump told a room full of Republican lawmakers that he will fire Federal Reserve Chair Jerome Powell, after receiving approval from them to make the move, a senior White House official told CNBC.

Amid repeated denials from administration officials and high-ranking Republicans, the exchange came Tuesday evening in the Oval Office, following Republicans blocking a vote on cryptocurrency legislation that Trump has favored.

“The President asked lawmakers how they felt about firing the Fed Chair. They expressed approval for firing him. The President indicated he likely will soon,” said the official, who spoke on the condition of anonymity to speak candidly on the issue.

Powell has moved to try to defuse one of the pretenses trump may use.

Powell asks inspector general to review $2.5 billion renovation after Trump blasts Fed project​


Everyone knows this isn't about renovations. It's about the Fed holding rates steady before the evidence of whether tariffs are causing inflation is in. Don wants cuts now to boost the economy for political reasons as his government falters and fails in so many other areas.
Click to expand...
He needs a REALLY BIG Controversy to change the subject off of the Epstein fiasco....that would be it!
 
berg80 said:
“I think he’s terrible… But the one thing I didn’t see him as a guy that needed a palace to live in,” Trump told reporters.
Click to expand...
Says the guy who turned the White House into a tacky gold palace.
 
The Federal Reserve is self-funding. No tax dollars are at stake with the Fed's renovations. The building was built nearly 100 years ago and contains asbestos and lead. More than was expected.

Trump's claims of unapproved lavish upgrades are bullshit. He is lying.

Any building built that long ago is obviously overdue for renovations, and it is coming out of the Fed's pocket.

www.federalreserve.gov

Marriner S. Eccles Building and 1951 Constitution Avenue Building Project

The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov
 
15th post
Contumacious said:
REPEATING

walk me through the process whereby TARIFFS cause INFLATION...
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TARIFFS ARE A TAX ON IMPORTERS. 97 PERCENT OF OUR IMPORTERS ARE SMALL BUSINESSES.

SMALL BUSINESSES CANNOT ONSHORE MANUFACTURING. THEY ARE CAUGHT IN THE MIDDLE OF THIS SHIT.

HIGHER TARIFFS ARE A TREMENDOUS TAX INCREASE ON AMERICAN BUSINESSES.

SMALL BUSINESSES HAVE NO CHOICE BUT TO PASS THOSE COSTS ON TO THEIR CUSTOMERS.

ERGO, INFLATION.

HOPE THIS HELPS.
 
g5000 said:
TARIFFS ARE A TAX ON IMPORTERS. 97 PERCENT OF OUR IMPORTERS ARE SMALL BUSINESSES.

SMALL BUSINESSES CANNOT ONSHORE MANUFACTURING. THEY ARE CAUGHT IN THE MIDDLE OF THIS SHIT.

HIGHER TARIFFS ARE A TREMENDOUS TAX INCREASE ON AMERICAN BUSINESSES.

SMALL BUSINESSES HAVE NO CHOICE BUT TO PASS THOSE COSTS ON TO THEIR CUSTOMERS.

ERGO, INFLATION.

HOPE THIS HELPS.
Click to expand...
ASSUMING THAT YOU WERE CORRECT, AND YOU ARE NOT , THE FACT THAT PRICES INCREASE IS NOT INFLATION - SUPPLY AND DEMAND AFFECT PRICES

A 30% TARIFF ON CHINESE CELL PHONES, FOR EXAMPLE, WILL ONLY AFFECT CELL PHONES AND YOU, IF YOU INSIST ON BUYING CHINESE CELL PHONES

CAPISCE?
 
Contumacious said:
ASSUMING THAT YOU WERE CORRECT, AND YOU ARE NOT , THE FACT THAT PRICES INCREASE IS NOT INFLATION - SUPPLY AND DEMAND AFFECT PRICES

A 30% TARIFF ON CHINESE CELL PHONES, FOR EXAMPLE, WILL ONLY AFFECT CELL PHONES AND YOU, IF YOU INSIST ON BUYING CHINESE CELL PHONES

CAPISCE?
Click to expand...
Having to pay more for an item due to tariffs means more money chasing the same goods. Or even less goods because higher prices suppress demand.

Capisce?
 
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