Attack on the Feds independence

[SAJ-99]

Man I think most of you live in a bubble. He's not any less popular with the people who actually voted for him that he was. Polls are full of shit. Remember, he wasn't even supposed to win the first go around? Just walk outside and talk to your neighbors, none of them are worked up about anything that they attribute to him. They think, if they do, that what he's doing to the Fed is the correct thing, he's fighting for them after all.

I can believe that. But I would bet none of them could tell you what the Fed actually does and how it does it.

 

[Irrelevant]

I can believe that. But I would bet none of them could tell you what the Fed actually does and how it does it.

Sure, but that's not on the test for voting.

Nor do I think people vote with their pocketbooks/bank accounts. despite what others claim. Heck, I don't think people know with any reasonable clarity how they are paid. What people do understand are simple social issues and the emotions associated with them, and right now one party has cornered the market in using it to their advantage.

How can you support having guys in the girls' sports or in girls' bathrooms?
Killing babies?
How can you not want to "Put America First"?
"Drain the swamp"
etc
etc
etc

From my [very lucky] economic perspective, nothing appreciable has changed since I started my career. It doesn't matter who's in office or what party they represent.

 

[Gulf of America]

well, combine the short term memory of the electorate and the average education level and reading comprehension of adult americans and voila!

but for real, nobody actually knew what was in project 2025. there were sound bytes, and a few articles about some pieces here and there. but the average person just had no idea. and who could blame them? i really didn't fully understand what it was about. hindsight is 20/20.

many other things were loudly and proudly proclaimed that nobody took seriously. some started to, I started to.

i was for sure done after jan 6.

The smartest thing they could do with Project 2025 is exactly what they did: publish the whole 940 pages where anybody with Google can look right at it. It’s absurdly long and boringly written. I didn’t make it past the OMB section written by Russ Vought, the appointed director of OMB. They made it so that anyone looking for a bullet list had to get it from a source that they either implicitly trusted or implicitly didn’t.

 

[SAJ-99]

The smartest thing they could do with Project 2025 is exactly what they did: publish the whole 940 pages where anybody with Google can look right at it. It’s absurdly long and boringly written. I didn’t make it past the OMB section written by Russ Vought, the appointed director of OMB. They made it so that anyone looking for a bullet list had to get it from a source that they either implicitly trusted or implicitly didn’t.

All they really had to do was get Trump to say he didn’t know anything about it. Hell, some people are still denying it is the playbook.

SCOTUS hears the Lisa Cook case in the coming days, which is a litmus test for firing Powell and the Senate Finance Committee, because Stephen Miranda’s temporary appointment expires at the end of the month and he will need to be made permanent. So Tillis blocking nominees is a great sound bite now but it will be put up or shut up very soon.

What is lost in this is the Administration is showing that now monetary policy is Fiscal policy. They can’t grow tax revenue so they want lower rates and a devalued dollar. They can’t grow our way out of the deficit so they will try to inflate it down. 3% inflation is the new normal under this path. For 60% of Americans that don’t own significant wealth this will be an economic gut punch that lasts for decades. The only real winner in all this is China as they find new trading partners and more influence across the globe.

 

[Flatrock]

It will be interesting to see if Powell stays on as a Fed board governor after he is done being Chairman. Sounds like nobody has ever done that but I don't think it would be a big surprise if he sticks around. I hope he does. Could make for an interesting dynamic.