Most of the 90 minutes last night was a waste - with both candidates lobbing well-worn clichés, slogans and sound bites at the audience and each other.
But there was one brief moment that made it all worthwhile. That was when Donald Trump peeled the bark off the Fed’s phony recovery narrative and warned that the stupendous stock market bubble it has created will come crashing down the minute it stops pegging rates to the zero bound.
“……Typical politician. All talk, no action. Sounds good, doesn’t work. Never going to happen. Our country is suffering because people like Secretary Clinton have made such bad decisions in terms of our jobs and in terms of what’s going on.
Now, look, we have the worst revival of an economy since the Great Depression. And believe me: We’re in a bubble right now. And the only thing that looks good is the stock market, but if you raise interest rates even a little bit, that’s going to come crashing down.
We are in a big, fat, ugly bubble. And we better be awfully careful. And we have a Fed that’s doing political things. This Janet Yellen of the Fed. The Fed is doing political — by keeping the interest rates at this level. And believe me: The day Obama goes off, and he leaves, and goes out to the golf course for the rest of his life to play golf, when they raise interest rates, you’re going to see some very bad things happen, because the Fed is not doing their job. The Fed is being more political than Secretary Clinton.
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5 comments:
Without a doubt! Come November 9th and Trump wins, my guess is that interest rates will go up so as to leave Trump with an even bigger mess to fix. If Hilliary wins then the interest rates will remain the same.
Just my two cents.
Interest rates need to go up. I know many will say no but let's be honest, you can't have an economy with low or no interest rates. Liberals have softened the massive impact of foreclosures and increases of everything else like fuel, groceries, you name it. However, what are we now hearing about grocery prices lately. they're claiming the prices have gone down at least 30%. Foolish Americans stupidly forget the SIZE of the packages we used to get years ago, (not that many years ago, mind you) and now you are getting at least 30% less product for your money. Grocery prices haven't come down at all.
Anyhow, interest rates had to be dropped because every single home in America lost their fake values and IF they hadn't lowered the rates, 80% of the homeowners out there would have lost teir homes to foreclosure.
Donald Trump is going to need a TON of support and patience from Americans to TRY to bring us back to where we used to be. In the very least his idea to tax any business bringing products into America is the ONLY way to rebuild America.
Now, that being said, I'm not stupid. The fees he'll charge companies like Ford, Carrier, GE and so many others will only bring money back to the Federal Government and NOT new jobs. However, those funds, (since they're gone anyway) will help rebuild our roads, airports, bridges and infrastructure. It's a necessity.
Hillary Clinton will actually bury America if we continue down the ridiculous path of free rides and open borders. Trump is our only chance but we must be patient after he is elected President.
Finally, the man is not stupid. He will help rebuild jobs and encourage businesses to stay in America. Only after we are rebounding from the worst economy in Americas history will he support an interest rate increase.
Sorry Joe, I should have proofread my first comment. I agree that interest rates must go up but what I meant to say was that the Fed will probably raise them too much at one time and I feel that this will bring about panic in the short-term. I agree that interest rates have been kept artificially low and we are going to pay for this in the long-run.
And all of the smoke and mirror crap that is going on in the food industry is just that, crap. Proportions have gone down along with costs (for certain items) so there are no real savings going on. But what can the American public do other than not buy those goods?
Just my two cents. I could be wrong.
You are not wrong at all.
Trump said it best the other night. IF we were in a better place in America we could afford to do the things Hillary is proposing. However, we are NOT in any position to offer free college and her list goes on and on. Our infrastructure is in the crapper and every single American knows it.
Liberals just have NO CLUE what it means to MAINTAIN what we have. They believe firmly we live in a throw away society. We built schools 30 years ago and Liberals believe they need to be torn down and new ones built.
THIS IS AMERICA! Affordable Housing, (for example) has destroyed major cities, WHY HAVEN'T WE LEARNED from past mistakes.
Just like the City of Salisbury, it can never rebound and only certain special interests and enjoying its implosion. I share that because it proves on a local level that the people Salisbury residents are electing have failed the good people of Salisbury.
I've spent years trying to expose the $140,000,000.00 Waster Water Treatment Plant, the $14,000,000.00 Fire Palace, multi million dollar lift station reimbursements to developers that have never been used, that list too goes on and on. Now look at Detroit, Chicago, Philly, Baltimore and other big cities. SOMEONE is making a TON of money and it isn't the taxpayers. Now perhaps some of you can understand why I keep saying "it was your election to lose".
The Jake Day revitalization of Downtown Salisbury is simply lipstick on a PIG. Show me how when you place affordable housing in ANY big city has REVITALIZED that city!
IF I had been elected, however, do all of you have any idea how difficult it would have been for me to actually move Salisbury in the right direction with a LIBERAL Council? Hence why I had no problem with the end result.
Now, let's take today's flooding problem locally. Have any of you ever seen how Kiawah Island was engineered, you should look it up. We can't even manage simple flooding around here. However, this kind of engineering costs money. My platform had two major ideas. One, infrastructure and two, economic development. Salisbury is just one small example of what is actually wrong with the entire LIBERAL guided leadership. You have to INVEST and MAINTAIN to be a thriving community, NOT build affordable housing that looks good the first 5 years and then falls apart because no one gives a crap about it and others get pissed off that we have to throw more money at it, (like the Waste Water Treatment Plant) because it wasn't maintained. The very same can be said about our schools. Again, this is a problem throughout America.
SHOW ME A PROJECT DONALD TRUMP OWNS THAT LOOKS LIKE CRAP 10 OR 20 YEARS LATER! Vote Trump 2016!!!!!
I believe the Fed will raise the rates in about 1 year after Trump wins the election.
The ensuing crash of the economy will than be blamed on Trump's policies.
The economy will crash - just a matter of when.
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