Its crazy how you can see where things are heading and still be surprised when they arrive there.
Everyone calling it out was named a doomer. Well doom is here. Congrats.
Gradually (last 3 decades) ==> Suddenly (we are here)
Statement from Jerome Powell
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Re: Statement from Jerome Powell
#52Does anyone have a steelman argument for this?
Re: Statement from Jerome Powell
#53I’m of the opinion from the old Yiddish proverb: “when the cat and dog are fighting, the mouse is safe”. If the admin is fighting with the Federal Reserve, it means they are not focused on figuring out how to further screw us over…
Puerile and uninformative, unfortunately. I respect that each of us has their world view, but if the last decade has shown anything at all, it is that when you are in the public square, you are asking for interlocution, not for escapism to be indulged. And the best thing is to do as you implicitly ask, and interlocute.
Re: Statement from Jerome Powell
#54So I'm sitting here as a Canadian wondering what the American people are going to do? I understand a lot of what the President of The United States says - I even agree with some of it, the problem is I don't feel like we're engaging with the American people anymore. I really wonder where you guys are headed and what it means for the rest of us, I spent 15 years in the states, built a public company there, I really like the Americans, but I don't want annexation. I wonder where you guys are headed.
Re: Statement from Jerome Powell
#55Holy shit. So our monetary policy will be just set at the arbitrary whims of the president if this new scheme works. Why does all of this feel like it's just sliding completely out of hand? Am I just being a doomer?
I hope I turn out to be wrong, but the most convincing explanation I've seen for the "why" is that the 1945-2000 period was an anomaly, and now we're reverting to the mean: despotic governments, frequent wars for territory, and massive wealth inequality leading to powerful oligarchies as the only other important political players aside from the despot. This was the norm for the overwhelming majority of human history…
Probably it coincides with the fact that the last people who remember WW2 are now gone.
None of us understand the devastation that a WW incurs.
Re: Statement from Jerome Powell
#56Economists: The interest rate on US Treasuries is often used as a benchmark for the “risk free rate” Trump: Hold my beer.
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Re: Statement from Jerome Powell
#57And of course equity futures immediately dropped on the news
Re: Statement from Jerome Powell
#58Holy shit. So our monetary policy will be just set at the arbitrary whims of the president if this new scheme works. Why does all of this feel like it's just sliding completely out of hand? Am I just being a doomer?
I find myself seeking out non-doomer people to read, since the doom and gloom doesn't really help, it's just demotivating. "Look for the helpers" and all that. This outlet has some good things from time to time, like https://www.liberalcurrents.com/we-are-going-to-win/ That said, yeah this is really bad.
Not sure about that article. In the short term maybe you might get through this round, but the long term really doesn’t look good. https://www.theatlantic.com/ideas/archive/2021/04/how-stop-m...
I’m applying to jobs in Europe.
Re: Statement from Jerome Powell
#59I’m of the opinion from the old Yiddish proverb: “when the cat and dog are fighting, the mouse is safe”. If the admin is fighting with the Federal Reserve, it means they are not focused on figuring out how to further screw us over…
I don't think a fight with the Federal Reserve will stop ICE from murdering civilians.
Re: Statement from Jerome Powell
#60So this is the bar for the next country to surpass the US as the world's economic super-power, if this continues it's most likely going to be China to surpass the US.
An opportunity for the EU to stop its bureaucracy and cleanup its act. If it cannot convince anyone that they are next, then one can argue that democracy is completely finished.
If this nonsense continues it will be the UAE + Saudi Arabia + China, cutting off the west and that's that.