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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#551

Post by rsynnott »

JumpinJack_Cash wrote: post #547
f33d5173 wrote: post #420

Earlier quoted context omitted.

My working theory is that the ai bubble is caused by trump. People are too uncertain to want to invest in most industries, but they have to put their money somewhere, so they put it in ai stocks. Since the supreme court is likely to rule trump's tariffs illegal in a week or so, this may lead to a stock market crash. As people reallocate their portfolios, they will sell their ai stocks, which will pop the bubble and c…

I don't think so. Remember the first time you wanted to buy a stock. You used a product or a service that you liked immensely, realized it had a stock and wanted to be involved. 1 billion people are using AI, not dramatically changing their lives yet of course but for sure they go 'wow incredible I want to be part of this' when they make a video with Sora or generate a pamphlet without having to work

So you’re hoping for the ai bubble to be saved by naive retail investors? I mean, that can’t last forever.

Re: Statement from Jerome Powell

#552

Post by rsynnott »

nabbed wrote: post #251
hash872 wrote: post #165

From an institutional engineering POV (warning- I am a grouchy old former political scientist), it would be interesting to come up with institutional solutions for some of the problems America is facing right now. Specifically I think I'd remove the Attorney General role from the President's authority and give it to Senate, to nominate & confirm exclusively. Let's say 51 votes to confirm and 55 votes to impeach. Even…

>Of course I would strongly prefer to not be a presidential system at all. Having grown up in the US and having blinders on, I always thought all those parliamentary systems seemed unstable and sometimes comical. But now I see the value in it. Once a leader has demonstrated he is not up to the task, has grown out-of-touch, or has descended into madness, he can be replaced by his party, and if that didn't happen, a no…

Also, the ‘leader’ in a parliamentary system is simply a lot less powerful. The executive is the cabinet, not the PM. The PM usually appoints it, but the ministers don’t get to fall back on ‘just following orders’; they are very much using their own authority. And again there’s always the threat of replacement of PM and re-alignment. Realistically, the threat is more important than the thing itself.

Re: Statement from Jerome Powell

#553

Post by jacquesm »

BLKNSLVR wrote: post #411
wat10000 wrote: post #338

Earlier quoted context omitted.

Trump is not the problem, he’s a symptom. The problem is the roughly one third of Americans who think he’s great, and to a lesser extent the roughly one third who don’t care. After all that’s happened, his approval rating is still above 40%. Those people aren’t going away or changing their minds any time soon.

That is the truly scary thing. And from what I've seen, the rest of 'the west' has similarly sized undercurrents of similar sentiment. Strangely, that 40% will be made up of, largely, people whose grandparents lived through WWII.

'Oh gramps, for once, stop talking about the war'.

People really don't want to hear those stories because it makes them uncomfortable. I'm in an absolute minority in that I wanted to hear the stories even if they made me uncomfortable. But the vast majority of the people would love to get through life without learning history's lessons and as a result are much more likely to repeat them.

Re: Statement from Jerome Powell

#554

Post by rsynnott »

Loughla wrote: post #4

Holy 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?

No, you’re correct. It’s more or less what happened in Turkey.

Re: Statement from Jerome Powell

#555

Post by jacquesm »

mrtksn wrote: post #503
sapphicsnail wrote: post #499

Earlier quoted context omitted.

People are out there protesting right now even though ICE and the police have a history of shooting unarmed protestors. Leftists protestors are and always have been more harshly treated by this government than the other side.

> People are out there protesting right now even though ICE and the police have a history of shooting unarmed protestors I never understand what's the point of those protests. They should be taking over power by force or GTFO. Notice that successful revolutions storm the HQ, destroy some building of iconic significance or kill/capture the leader, not just enduring the atrocities of the foot-soldiers of the people who…

> destroy some building of iconic significance

I think you have the parties confused there.

Re: Statement from Jerome Powell

#556

Post by jacquesm »

Tanoc wrote: post #498
mrtksn wrote: post #458

Earlier quoted context omitted.

Of course there’s, it’s just that anti-Trump people don’t care as much and are not as brave as the pro-Trump people. MAGA people stormed the capitol, anti-Trump people just write well thought concerns on the internet. MAGA people for years endured deplatforming and being outcasts but developed methods to deal with it, the anti-Trump people are scared to lose what they have and are too concerned about their difference…

The pro-Trump group don't think about consequences is the thing. The anti-Trump group do, and that's a big reason why they're slow to respond. Performing a siege on the Capitol was a stupid, angry, and impulsive reaction with no thought of the consequences afterwards. That's the way the entire pro-Trump group tends to act. Meanwhile the anti-Trump group think about knock-on effects and long term consequences because…

I think it is much simpler than that: creation takes time, destruction is fast.

Re: Statement from Jerome Powell

#557

Post by jacquesm »

tptacek wrote: post #108
neom wrote: post #54

So 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 li…

Nothing? Trump is playing freeway chicken with Powell, he's driving a Pontiac Fiero and Powell is driving a bulldozer. The Supreme Court has already signaled that they're not on board fucking with the Fed. This will potentially cost Trump his next Fed nomination for awhile, because GOP Senators are putting a hold on his nominations until the legal stuff resolves.

It's nothing. In a sane country Trump would have been impeached many months (or even years) ago and would have never managed to get a second chance at this.

If the continuation of the USA hinges on Powell the man should be given a spot on mt. Rushmore, but I don't think that it is going to happen. Congress and the senate are for the most part filled with people that are too afraid to act. And in the meantime a lot of other crazy stuff will happen (just look at the last 30 days) to push this out of the public eye.

Re: Statement from Jerome Powell

#558

Post by jacquesm »

mrtksn wrote: post #449
neom wrote: post #54

So 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 li…

They are headed for complete fascist take over. Going through a phase that Europeans went through a century ago, end up destroying themselves. It’s very concerning that they have nukes. JD Vance said something about the risks UK and France owning nukes, I think he just wanted to start the conversation because I think he believes that it’s actually US that is the risk. We know that the guy is not actually a Trump ideo…

> Going through a phase that Europeans went through a century ago, end up destroying themselves.

That's not history as I've been taught it since grade school.

Re: Statement from Jerome Powell

#560

Post by smartbit »

dredmorbius wrote: post #377
cal_dent wrote: post #203

The US drift into Adam Curtis' broad thesis in hypernormalisation(a) continues apace I see. Great to see J Pow putting up a fight but I fear this is all going one way. (a) >We live in a world where the powerful deceive us. We know they lie. They know we know they lie. They don't care. We say we care but do nothing.

Curtis's HyperNormalisation , a BBC documentary, for those unfamiliar: https://en.wikipedia.org/wiki/HyperNormalisation > Video, at BBC Online: https://www.bbc.co.uk/programmes/p04b183c >

HyperNormalisation (2016) 2h:46m for those outside the UK https://youtube.com/watch?v=Gr7T07WfIhM
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