The $6 trillion is not real money? What are you smoking? That ganja in California has you high. This is the problem in liberal Lala land. You don't understand root causes. That $6 trillion is very real. It backstops anyone who has mismanaged their company to the point that they can't pay their debt back, because the Fed is buying up all bad debt. Then when those debts are not repaid, the tax payer is on the hook. How? You bet through inflation. The Fed's inflation numbers are fake. They exclude anything that is inflationary in there.
For example, how high is your health insurance? How high has education costs risen? How high is your rent or mortgage? Assets across the board are ridiculously inflated by what the Fed is doing. That's great for asset holders like me, but terrible for the 99%.
As for Trump jawboning the Fed, yep, we all know he's done that and we know why. Trump knows that an accommodative Fed increases the chances for the stock market to go up, which makes everyone think the economy is doing fine, which increases his chances of getting elected. In fact, many Presidents have done exactly the same thing with similar results. In point of fact, Romney was damned close to beating Obama as the stock market faltered in 2011-12, but the Fed implemented QE and that ramped up the stock market right before the election and Obama got elected. By November, they were running what we used to call QE Infinity, because it was ramping up quite a bit and was open ended. Coincidence? Not on your life. Obama was just far more nuanced and quiet in how he got results through Bernanke and then Yellen, the most dovish Fed Presidents in history. Now Powell joins their ranks.
So you are being a bit disingenuous in your statements that Trump is different. He's a political animal and so were previous Presidents. Obama was just more suave and subtle in his machinations, but he was every bit as fierce a competitor. You bet he was. After all, it was Obama who ok'd the FBI investigations into the Trump campaign during the 2016 election, with all the FBI abuses that have now been uncovered.
So again, stop all your virtue signaling. The Democrats are no better. |
