Another shockingly anemic Trump jobs report - only 22k jobs added in August

Walt said:
trump has already removed one of the Fed Governors, and is threatening to remove the rest. None of that is how it is supposed to work. But here we are.
Click to expand...
Presidents appoint Fed governors (or Chairman) all the time, it doesn’t mean they vote the way they want them to. (See Powell, Jerome).

So going back to your claim, how would it actually work since the President doesn’t control rates.
 
cawacko said:
Presidents appoint Fed governors (or Chairman) all the time, it doesn’t mean they vote the way they want them to. (See Powell, Jerome).

So going back to your claim, how would it actually work since the President doesn’t control rates.
Click to expand...
Is there any doubt Trump is seeking to manipulate the numbers to make himself look like "the Greatest President Evah!"?
 
Walt said:
This is the first time that a Fed governor has been removed.

The Fed is setup by the Congress, so does not serve at the pleasure of trump.
Click to expand...
You keep pivoting away from your original claim and still haven’t explained how that would actually work.
 
cawacko said:
You keep pivoting away from your original claim and still haven’t explained how that would actually work.
Click to expand...
trump's "solution" is a 1% prime rate that would cause double digit inflation. You can find nothing wrong with that statement, so you claim that it is not in trump's power, because we have an independent Fed. That does not change what his "solution" is, just that you do not think trump will get his "solution."

So now we move on to whether he gets his "solution" or not. trump is certainly trying to get rid of the independence at the Fed. Will he be successful is another question.

You might be right that trump will fail to get his way. That does not change what his way was, and that he tried to get it.
 
Cypress said:
Two years from now he will still be blaming Biden and Obama!
Click to expand...
Trump never takes responsibility. Why do so many MAGAt leaders support pedophilia? Is it because they only care about their own pleasures and never care about the harm they do to others?
 
Walt said:
trump's "solution" is a 1% prime rate that would cause double digit inflation. You can find nothing wrong with that statement, so you claim that it is not in trump's power, because we have an independent Fed. That does not change what his "solution" is, just that you do not think trump will get his "solution."

So now we move on to whether he gets his "solution" or not. trump is certainly trying to get rid of the independence at the Fed. Will he be successful is another question.

You might be right that trump will fail to get his way. That does not change what his way was, and that he tried to get it.
Click to expand...
He can say he wants rates at 1%, and he has, but he doesn't control them. Even Fed Governors talking about cuts are only mentioning about 25 bps, not 300.
 
Cypress said:
We hated guys at work who always shifted blame to others, and they never lasted very long.

Republicans hold that kind of guy in high esteem and praise.
Click to expand...
It's because they are all scumbags, lowlifes, liars and anti-American traitors who need to be treated as such if there's a civil war.
 
cawacko said:
He can say he wants rates at 1%, and he has, but he doesn't control them.
Click to expand...
So I was right, trump's "solution" is high inflation?

cawacko said:
He can say he wants rates at 1%, and he has, but he doesn't control them. Even Fed Governors talking about cuts are only mentioning about 25 bps, not 300.
Click to expand...
The Governors are trying to find a middle ground between the sanity of raising rates, and the insanity of dropping rates insanely. If I had to guess, we will be at 2 to 3% by next year. Inflation will follow.

It might be a perfect storm of tariff inflation and monetary inflation hitting at the same time.
 
Walt said:
So I was right, trump's "solution" is high inflation?


The Governors are trying to find a middle ground between the sanity of raising rates, and the insanity of dropping rates insanely. If I had to guess, we will be at 2 to 3% by next year. Inflation will follow.

It might be a perfect storm of tariff inflation and monetary inflation hitting at the same time.
Click to expand...
Now you're trying to twist my words. He can want 1% but that doesn't guarantee high inflation. Rates can certainly contribute, as we saw just a few years ago, but it's not automatic.

You actually sound very Austrian here. Remember their claims posts GFC that ZIPR and QE would cause runaway inflation? Instead we got disinflation for years.
 
cawacko said:
Now you're trying to twist my words.
Click to expand...
Your words were, "He can say he wants rates at 1%, and he has, but he doesn't control them", which is saying his solution is a prime rate of 1%. There is no twisting of words there. You agree with my initial statement.

You even went on to admit he was trying to get his solution. The only argument left is whether he will get it or not.

I agree he might not get what he wants, but we disagree about how much of what he wants he will get. I think a lot more than any of us will want.

cawacko said:
He can want 1% but that doesn't guarantee high inflation.
Click to expand...
If the prime rate were set at 1%, that would guarantee high inflation. Are you arguing that he will not get what he wants? That is more reasonable, but no where certain. Again, we are not debating trump's solution, just whether he will get it or not.

cawacko said:
Remember their claims posts GFC that ZIPR and QE would cause runaway inflation? Instead we got disinflation for years.
Click to expand...
We had deflation, and basically zero interest, and were desperately trying any novel methods to spark inflation. QE was meant to cause inflation, as would dropping interest rates. It worked as intended.

We now have inflation, and want to drop it. The solution is simply, raise interest rates.
 
Crepitus said:
Don't you remember them saying they would on the campaign trail?
Click to expand...
Trump left office in 2020 with the economy in taters, and he mishandled the COVID pandemic.

If an NFL head coach guides a team to a 3-14 record, MAGA morons should know better than to rehire him.
 
Walt said:
Your words were, "He can say he wants rates at 1%, and he has, but he doesn't control them", which is saying his solution is a prime rate of 1%. There is no twisting of words there. You agree with my initial statement.

You even went on to admit he was trying to get his solution. The only argument left is whether he will get it or not.

I agree he might not get what he wants, but we disagree about how much of what he wants he will get. I think a lot more than any of us will want.


If the prime rate were set at 1%, that would guarantee high inflation. Are you arguing that he will not get what he wants? That is more reasonable, but no where certain. Again, we are not debating trump's solution, just whether he will get it or not.


We had deflation, and basically zero interest, and were desperately trying any novel methods to spark inflation. QE was meant to cause inflation, as would dropping interest rates. It worked as intended.

We now have inflation, and want to drop it. The solution is simply, raise interest rates.
Click to expand...
You’re still twisting this. I do think dropping rates to 1% would fuel inflation, but that’s not the same as saying it guarantees double-digit inflation. Rates can add fuel, but history shows it isn’t automatic. After the GFC we had ZIRP and QE for years without runaway inflation. That’s why calling 1% ‘free cash’ that guarantees high inflation is oversimplified. It depends on the broader conditions.
 
You must log in or register to reply here.
Back
Top