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Statement from Jerome Powell

federalreserve.gov

721–730 of 871 posts

Re: Statement from Jerome Powell

#721

Earlier quoted context omitted.

Well you can be right, or you can win. This thread is a consequence of being right.

Well, some people can win. Other people will simply die of massive blood loss. As long as it's not you, right?

If Roe v. Wade is gone now, what point are you trying to make?

Re: Statement from Jerome Powell

#722

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

> 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'

Subtract the part that doesn't know they're using AI or when they do know have mixed experiences.

Then subtract the vast vast majority of people who don't have the money to invest.

Re: Statement from Jerome Powell

#723

Earlier quoted context omitted.

It’s clear that he’s very easily persuaded on many topics that he already has a slight bias towards, but that he also has his pet projects that his handlers don’t want to mess with because that would jeopardize their political capital (ball room). Quick heuristic I have is: vanity project = Trump; neocon pet project = Heritage Foundation; anything related to racial purity = Stephen Miller; quackery = RFK and other gr…

I'm not sure that the tariffs are just bias plus bad economic theory. I think it's that Trump sees tariffs as a source of revenue under his personal control - that is, not subject to the congressional budgeting process. It remains to be seen whether the courts will agree with that. Last I saw, they didn't, but it wasn't a final decision.

More directly, Tariffs are something he can threaten and then ignore with the right "fees" paid.

It's just grift.

Re: Statement from Jerome Powell

#724
post #217

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.

> I fear this is all going one way That belief isn't the consequence of the situation, but the cause. There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. They do it in Iran. The Republicans and MAGA movement have made changes that would have been unbelievable ten years ago.

> That belief isn't the consequence of the situation, but the cause. There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history.

True. But it’s very overwhelming since we are so democratically inept right now.

> They do it in Iran.

We know this because the local elites underlined it for us.

Re: Statement from Jerome Powell

#725
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…

> I wonder where you guys are headed. You need to know only two facts about America to guess that: * Fifty three percent of Americans now read below the sixth grade level. * As (ostensibly) a representative Democracy America's fate is dictated by the majority of it's citizens. Our future is to become a broken nation governed by middle-school student level thinking. The only way to build a better America is to build a…

> It's so simple: everyone is stupider than me. These are facts dontcha know. The science is on my side.

Re: Statement from Jerome Powell

#726

Earlier quoted context omitted.

It's probably going to collapse anyway. He's been hitting all of the pillars of the economy with a sledge hammer.

Yes, but for now the USD has more or less survived. If Trump forcibly removes the FED chair on a pretext things could go downhill very fast. You can probably kiss the USD as a reserve currency goodbye overnight and China is going to have a real problem given the amount of debt they hold. This could easily knock the last pillar that holds it all up away.

> Yes, but for now the USD has more or less survived.

Excuse me? It lost over 10% in a year against the euro and almost 10% against the British pound.

https://www.xe.com/currencycharts/?from=USD&to=EUR

Re: Statement from Jerome Powell

#727
post #674

Earlier quoted context omitted.

being against abortion is equivalent to condemning women to death when their pregnancy is going wrong. you see how moral absolutes (don't) work?

That was the point. democrats often point out those rare cases where the womens life is in danger and then use that as the absolute we must allow all abotions. Nobody will argue for the compromise and so you lose a lot who won't acpept the absolute.

We had a working compromise for decades.

Re: Statement from Jerome Powell

#728
post #217

Earlier quoted context omitted.

> I fear this is all going one way That belief isn't the consequence of the situation, but the cause. There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. They do it in Iran. The Republicans and MAGA movement have made changes that would have been unbelievable ten years ago.

> There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. This is the political will of a plurality of American voters. They certainly can't claim they didn't know what they would get, and they seem unconcerned by any of these actions that many of us find terrifying. It is difficult to see how we can democracy o…

The political will of a plurality of American voters elected this administration a little over a year ago. We don't have direct evidence of what the current political will of a plurality of American voters is. We have some indirect evidence via polls and off-cycle elections that this is not the political will of most Americans. We'll have stronger evidence after the vote for the full House and third of the Senate later this year.

Personally, I don't think we have evidence yet that the democratic process in the US is broken. I have concerns as many people do, but the recent off-cycle elections went off just fine.

Re: Statement from Jerome Powell

#729

Earlier quoted context omitted.

> I wonder where you guys are headed. You need to know only two facts about America to guess that: * Fifty three percent of Americans now read below the sixth grade level. * As (ostensibly) a representative Democracy America's fate is dictated by the majority of it's citizens. Our future is to become a broken nation governed by middle-school student level thinking. The only way to build a better America is to build a…

> * As (ostensibly) a representative Democracy America's fate is dictated by the majority of it's citizens. No, it's determined by the people who actually go out and vote. Bizarrely, voter turnout among younger people remains low. It's beyond frustrating to work with large groups of young people who are seemingly always talking politics and angry about something political, then to watch as half of them either forget…

Maybe ask the young people if they actually wanted to vote for the options they had, before jumping to them being apathetic or hypocritical. And yes, I know the adult-in-the-rooms will be quick to point out that its simply rational and responsible to hold your nose and vote for the lesser evil, and the kids should know that, etc etc. But while it may be a good prescription to people, it doesn't actually address the problem. Maybe we should, but still, if you just want to scold people into voting for you, then you probably don't have a good platform and you probably don't deserve the support you do get.

The fact is, it would of been already incredibly hard for someone to be enthusiastic voting for Dems last presidential election; frankly even without even considering the utter and pointed moral failure with Gaza.

You want young people to vote, you can try to tut-tut them to vote for literally whoever, or you can, you know, listen to what they are saying, what they feel passionate about, and try even just a little bit to address it or, heck, put it on the platform. Its supposed to be a political party, something that unites people under some shared vision.

You want every single young person in the US to vote? Just say: free healthcare.

Re: Statement from Jerome Powell

#730
post #217

Earlier quoted context omitted.

> I fear this is all going one way That belief isn't the consequence of the situation, but the cause. There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. They do it in Iran. The Republicans and MAGA movement have made changes that would have been unbelievable ten years ago.

> There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. This is the political will of a plurality of American voters. They certainly can't claim they didn't know what they would get, and they seem unconcerned by any of these actions that many of us find terrifying. It is difficult to see how we can democracy o…

This is what has been repeated again, again, again, again, and again since the election. Those other commoners did it. They wanted it.

So much effort spent talking about how democracy was so powerful—all the wrong commoners got what they wanted—right up until Trump and now it’s too late, no one cares about this one comment box.

I’m not an American. I just have a vested interest in the commoners of America getting their stuff together.

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