Federal Reserve Is Cutting Rates To Counteract The Damage From Trumps Disastrous Trade Policy

skews13

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Mar 18, 2017
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President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
 
This would seem to indeed be the case. Some have argued it is worth it. I'm not sure why we should steal from seniors to cover up Trump's inability to be the "great negotiator" he claims to be.
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Bwaaaaahhaaaa. FED cutting rates so the US can compete with the other countries who are manipulating their currency by rate cutting. I really do hate people who have to LIE all the time.

Trump: US Should Match China, Europe's 'Currency Manipulation Game'
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Bwaaaaahhaaaa. FED cutting rates so the US can compete with the other countries who are manipulating their currency by rate cutting. I really do hate people who have to LIE all the time.

Trump: US Should Match China, Europe's 'Currency Manipulation Game'

The argument is that the economy is booming under Trump. China cut their rates because their economy has slowed down.

I've asked over and over how it is you defend cutting rates when the argument is the markets are booming and employment is at record lows.

Which is it? The economy is strong or it is not?
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Stupidity. Neither he nor Yellan raised rates at the pace they should have. We should be at 2-3 times where we are now. They have almost no bullets in their gun when the coming recession gets here, and wasting one now is just dumb.
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.

What hump? The argument is that the economy is booming? Is that not true?
 
Lol, the Fed is cutting rates, the President is getting us out of bad trade deals and you call that a disaster? Youā€™re a special kind of stupid arenā€™t you?

Yes, if you understand anything about economics you understand why you do not cut taxes now. Outside of that, why should we steal from seniors that have saved their entire lives to boost the stock market?

Is stealing from those who have to give to those who want, wrong or not?
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.
Lol, like you've ever negotiated a trade deal.
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.

What hump? The argument is that the economy is booming? Is that not true?
Where were you when Obama with QE 1, 2, 3 and forever printed 4.5 trillion dollars so corporations could borrow it at zero percent and make their stocks look better by buying back the stock thus artificially inflating those stock prices? Yes, our economy is doing well, jobs are back, our energy is not making US hostage to OPEC, but then other countries manipulate their currency to an unfair advantage, we either completely cut off those countries or we play their game. You liberals sure do bitch a lot, when things are going good, but when the last admins economy was under 2% and called the new norm, you were cheering for that fag.
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.

What hump? The argument is that the economy is booming? Is that not true?
You really are stupid... The pain of increased prices even in a booming economy that will go down once a trade deal is reached.
 
Lol, the Fed is cutting rates, the President is getting us out of bad trade deals and you call that a disaster? Youā€™re a special kind of stupid arenā€™t you?

Yes, if you understand anything about economics you understand why you do not cut taxes now. Outside of that, why should we steal from seniors that have saved their entire lives to boost the stock market?

Is stealing from those who have to give to those who want, wrong or not?

Not only do I know economics, but I can follow a logical line of thinking. Apparently you cannot. None of that is actually happening. Educate yourself.
 
Lol, the Fed is cutting rates, the President is getting us out of bad trade deals and you call that a disaster? Youā€™re a special kind of stupid arenā€™t you?

Yes, if you understand anything about economics you understand why you do not cut taxes now. Outside of that, why should we steal from seniors that have saved their entire lives to boost the stock market?

Is stealing from those who have to give to those who want, wrong or not?
Is stealing from those who have to give to those who want, wrong or not?
So now you admit that Congress who steals money from the working class and business owners, then gives it to people sit on their lazy liberal asses as wrong, what are you going to do about it?

quote-i-have-never-understood-why-it-is-greed-to-want-to-keep-the-money-you-have-earned-but-thomas-sowell-43-1-0165.jpg
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.

What hump? The argument is that the economy is booming? Is that not true?
Where were you when Obama with QE 1, 2, 3 and forever printed 4.5 trillion dollars so corporations could borrow it at zero percent and make their stocks look better by buying back the stock thus artificially inflating those stock prices? Yes, our economy is doing well, jobs are back, our energy is not making US hostage to OPEC, but then other countries manipulate their currency to an unfair advantage, we either completely cut off those countries or we play their game. You liberals sure do bitch a lot, when things are going good, but when the last admins economy was under 2% and called the new norm, you were cheering for that fag.

I was complaining endlessly. I was not here, but yes, if need be I can prove that. Obama was a failure at almost everything he did.

If it was wrong for Obama though, why is it OK for Trump?
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.

What hump? The argument is that the economy is booming? Is that not true?
You really are stupid... The pain of increased prices even in a booming economy that will go down once a trade deal is reached.

It isn't getting reached. The "Great Negotiator" can not negotiate.
 
Lol, the Fed is cutting rates, the President is getting us out of bad trade deals and you call that a disaster? Youā€™re a special kind of stupid arenā€™t you?

Yes, if you understand anything about economics you understand why you do not cut taxes now. Outside of that, why should we steal from seniors that have saved their entire lives to boost the stock market?

Is stealing from those who have to give to those who want, wrong or not?

Not only do I know economics, but I can follow a logical line of thinking. Apparently you cannot. None of that is actually happening. Educate yourself.

Obviously you do not.
 
President Donald Trump has long been infuriated with his Federal Reserve chairman, Jerome Powell, who he originally tapped to replace Janet Yellen in 2017, allegedly because he was taller than her. The president has violated all decorum by trying to lean on the Fed to reverse their recent interest rate hikes, accusing the central bank of trying to slow down the economy.

Now, Powell is finally cutting interest rates. But according to Politico, it isnā€™t because Trump demanded it. Rather, itā€™s because Trumpā€™s trade policy is such a disaster for the economy that Powell has to resort to expansionary measures to keep things running.

ā€œThere is just no question that Powell has been ā€˜Trumpedā€™ here,ā€ said investment strategist Ed Yardeni. ā€œJust read Powellā€™s comments during his recent congressional testimony and trade comes up eight times in the context of weighing on the global economy. All Trump had to do was keep up geopolitical trade uncertainty for a while and heā€™d get the Fed to cut rates.ā€

Trump has aggressively pursued an isolationist trade agenda, trying to bully Americaā€™s international partners into renegotiating trade agreements by slapping them with harsh tariffs. As a result, global growth is slowing, consumer prices are rising, and American farmers are losing billions.

The Federal Reserve is cutting interest rates to counteract the damage from Trumpā€™s trade war: report

It's a good thing we have a government to check this loser and grifter. It may be to late though.
Obviously you have never negotiated a trade deal. Some times you must endure short term pain for long term gain. Trump understands this and you obviously do not. You think that you should have your cake, frosting and all right up front without having to work for it. Idiot!

The Fed is working with trump to get over the hump of short term pain to get to long term gain. But the left is to stupid too understand this.

What hump? The argument is that the economy is booming? Is that not true?
Where were you when Obama with QE 1, 2, 3 and forever printed 4.5 trillion dollars so corporations could borrow it at zero percent and make their stocks look better by buying back the stock thus artificially inflating those stock prices? Yes, our economy is doing well, jobs are back, our energy is not making US hostage to OPEC, but then other countries manipulate their currency to an unfair advantage, we either completely cut off those countries or we play their game. You liberals sure do bitch a lot, when things are going good, but when the last admins economy was under 2% and called the new norm, you were cheering for that fag.

I was complaining endlessly. I was not here, but yes, if need be I can prove that. Obama was a failure at almost everything he did.

If it was wrong for Obama though, why is it OK for Trump?
Because Obama didnt give a shit about people whose jobs ended up going to Mexico and China. Thus he will go down as a failure for putting the most in poverty since the war on poverty started. Again, now that jobs are back, we are energy independent, we MUST still find a way to compete with other countries who manipulate their currencies by lowering their rates. This is called economic warfare, they play dirty, we do the same, eventually they will come clean or go bankrupt like the USSR did.
 
got to love the crazy left. They were all yelling about 44 economy being so great but the fed never raised rates. Trump gets into office and the Feds raise rates twice in a very short time. But now when they realize that two raises might be two much it is Trumps fault.
I seem it was not that long ago the crazy left kept floating the idea that it was 44 economy. Suddenly it is Trumps and only Trumps.

At one time TPP was called the gold standard by a certain someone then when she had to back it up even she admitted it was not that good. So if Dems can admit it was not that good why are they afraid to try and make it better?
 
Lol, the Fed is cutting rates, the President is getting us out of bad trade deals and you call that a disaster? Youā€™re a special kind of stupid arenā€™t you?

Yes, if you understand anything about economics you understand why you do not cut taxes now. Outside of that, why should we steal from seniors that have saved their entire lives to boost the stock market?

Is stealing from those who have to give to those who want, wrong or not?
Is stealing from those who have to give to those who want, wrong or not?
So now you admit that Congress who steals money from the working class and business owners, then gives it to people sit on their lazy liberal asses as wrong, what are you going to do about it?

quote-i-have-never-understood-why-it-is-greed-to-want-to-keep-the-money-you-have-earned-but-thomas-sowell-43-1-0165.jpg

No, I believe as a "Christian nation" we help the poor. What we are doing here, is taking from those who expect to pay their bills from their savings to give to those who already have.

Explain to me why that is OK?
 

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