"Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR,"
“The board is very hostile. They’re very political. They’re doing the wrong thing. They’re a bunch of politicians,” he said, adding, “They’re raising rates to make Trump do as bad as they can possibly do.”
"LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT."
You can't make this up folks. It would be easier for him to just own that his own policies led to a spike in inflation which triggers the Fed to raise rates. Why not just own that Iran didn't work out the way they thought, the tariff wars aren't working out the way they thought, the bond market isn't behaving the way they thought.....I welcome anyone to tell me what IS working out the way they thought? I'll take anything: immigration, health care, taxes......gimme something that is working out right from your viewpoint.
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I'm Republican AF but I like Kevin Warsh. He seems like he's got a solid head on his shoulders, an independent streak, and unlike the last chair, he doesn't have an ego. I've been vocally against the Iran War and we might need a couple increases to undo the impact.
As for one thing that's working right, immigration. Up here, ICE just took a couple more kiddie rapists off the streets. And finally getting people who hate America out of government. That alone was worth contributing to Trump's campaign.
The tariffs are dumb but ultimately sideways. Trump threatens to tariff any nation that doesn't appropriately suck his dick but they realize his short attention span means he'll move on in an hour or two.
Health care, neither party has a fucking clue on any level.
@ThePuddyTat “I'm Republican AF but I like Kevin Warsh. He seems like he's got a solid head on his shoulders, an independent streak”
According to Trump he directed Warsh to vote for the rate hike: “I talked to Kevin. I said you might as well vote with the board because it’s not going to matter.”
I actually agree with you Puddy that Warsh was going to vote to raise rates and that this is just Trump trying to save face. Unquestionably, Trump’s policies have raised inflation and rates needed to be raised but also unquestionably he thinks Warsh works for him. This is a direct contrast to all of the bootlickers Trump has appointed who have fucked up our country since Jan 2025.
@Hank Moody "According to Trump he directed Warsh to vote for the rate hike"
Huh? Trump has been saying left and right up and down to cut rates, and that this is/was a mistake. No one is going to buy that.
@ThePuddyTat I was responding to your point that Warsh is independent. You and I agree he and the Fed are independent from the White House. Trump believes he can direct Warsh on how to vote.
@Hank Moody Really? Warsh hasn't hidden that he'll be fiercely independent. But that's a good thing. I'm a hardcore inflation hawk.
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Interesting that you'd seemingly concerned with kiddie rapists but Trump is mentioned a million times in the Epstein files along with the numerous other child rapists who are being protected by not releasing the full files but there is no concern there. Wonder why?
@dustyj You've already predetermined Trump to be guilty, promised a million different smoking guns, and not delivered. I'll believe it when I see it.
Why are you more upset that Trump hasn't been implicated than that Clinton is?
Trump's immigration policy has been ok. Biden letting a million illegal immigrants cross the border yearly was unpopular with the public. RFK Jr. has undertaken some needed reforms involving the big government health agencies, which had come under too much control by big pharma, big agriculture and the medical cartel in this country. They have used that control to financially benefit themselves. We do not spend too little on medical care. Medical spending went from six percent of GDP in 1960 to almost triple that today, the highest spending of any country in the world. At the same time, the United States went from 26th in 1960 to 46th now in world rankings of average life expectancy.
The Republicans will do poorly in the midterms, though, due to rising prices from inflationary Federal Reserve policies and also from the Iran war.
Clinton hasn't been accused by countless women of sexual assault like Trump has. If Clinton or anyone is guilty then they should be punished and the Epstein files shouldn't be hidden. You pretend to care about this but don't actually care about people. What do you think about the cuts to USAID which has caused thousands of people to needlessly die? Do you care at all?
@dustyj "Clinton hasn't been accused by countless women of sexual assault." You have got to be fucking kidding me.
"Clinton or anyone is guilty then they should be punished" Feel free to start pushing for him to get convicted and jailed, along with Bill Gates. Yet the only politician you ever bring up in this context is Trump.
"You pretend to care about this but don't actually care about people." Oh look, the TUSCL tough talker is the mega-humanitarian now.
"Do you care at all?" USAID was a great money laundering program to Democratic causes, which better explains your indignation at it. I wouldn't have cut it, but the US isn't responsible for everything bad that happens in the world.
In NYC, registered Democrat, but a closet republican in real life. I like that the border is now closed and deporting hardened criminals and anti American exchange students. I like what RFK Jr is doing in health and food. That needed to be done. On foreign policy, it’s tough to weigh in, I’m not in the room, and not getting all the intelligence. Plus, things take time in that space. The judgement will come after he is out of office. On the economy, I think the rates need to be higher than they are now.
On tariffs, not sure it contributed to inflation. I was in shipping and logistics for a number of years. I dealt with customs declarations and duties. I saw the commercial invoices for cargo. How much it really costs to buy overseas. These guys will pay 20-50k per shipping container (cargo, insurance, freight, duties). Then turn around and sell it for 3-5 times the cost. So, there is plenty of room to absorb the increased duty. IMHO, much of the blame goes to distribution costs. Just ask Amazon sellers how much they get charged. Plus, Amazon insists that the seller match their amazon price on other platforms and in stores…. Drives down competition -> increasing prices overall.
@Reachme I largely agree, except that I think RFK Jr is a dumb fuck. He's done some good on food but he seems to want to destroy the scientific infrastructure, and the antivaxxers are shit for brains.
As far as tariffs, I don't think they're systematically doing much. It's more like a cudgel Trump is wildly waving about. Don't like them? Don't worry, his attention will shift in a minute or two. Trump might have had a grand dream of patching the deficit through tariffs but he's so undisciplined and scattershot, and the tariffs are so weaponized, that they'll never be reliable.
How's Mamdani doing? I haven't gotten out of my car in the five boroughs since the before times.
@ThePuddyTat On RFK, im a bit older now and dealing with a few health concerns and with doctors. Based on the service, advice and outcomes, my observation is that too many people in that field are too specialized to see the big picture and to consider 2nd and 3rd order impacts. Some of these guys dont even bother to read the prescription drug inserts, ie how the trials were done and the effectiveness. And precautions. And then recommend this stuff... So some destruction and reevaluation may be healthy in the long term. Otherwise people get too comfortable and intrenched in their positions...
As far Mamdani, he is a mixed bad so far. Day to day, nothing really changed from the DeBlasio years imho.
Other than that, he is acting a bit like Robert Moses, ie he dont give a shit for NIMBY. This is actually good, we might get the BQE back to 3 lanes at some point.
He is starting to get suied for various initiatives, so we'll see how that goes. On a personality side, he is a nuckehead. Tonedeaf. Picks fights that he doesnt need.
My guess we will need to wait to year 2 or 3 of his admisitration to see impacts. Right now, most of the stuff is still in approvals process or on autopilot.
BTW, i would not worry about getting out of the car in the city. As long as its daytime. Parking is another topic altogether though...
@Reachme RFK has no science or medical training, never managed a large bureaucracy. He was a leftist environmental lawyer who'd probably be babbling nonsense on a street corner if he had a different last name. I like a lot of Trump's picks but he blows. I've been in/around pharma most of my adult life, read more prescription drug inserts and peer reviewed studies than I can count, and seen the system as patient and employee. The system works pretty well. There's as much evidence for vaccines or Tylenol causing autism as the sun revolving around the earth. Now we're seeing a rise in measles because he's peddling this shit. He needs to go, stat.
Mamdani seems more interested in trashing Israel and Jews than cleaning trash of the streets of New York.
I didn't mean I was worried about safety driving through New York, just that the extent of it has been driving across the GWB or Cross Bronx to/from New Jersey or Connecticut. I lived in NYC back in the day and hated it and don't have much desire to visit. Maybe I'll take the wife there for a long weekend though I'd want my .357 on my hip.
@ThePuddyTat Id leave the .357 in your trunk, safely locked up. There is a .9999% chance you will not need it. Comming to an area where you'd want to bring your wife, ie Manhattan, downtown Brooklyn, Long Island City, Astoria, Flushing are very safe. Tons of cops and cameras. No one will bother you. And if you do carry it, you have a higher chance to get shot by cops than criminals. Most of the shootings are between gangs, in shitty areas of the Bronx, and outer Queens and Brookyln. And usually happen very late at night.
As far as driving through GWB and Cross bronx, thats all Gov Hockul's fault. GWB is owend by PANYNJ, and Cross Bronx is owned by NYS. And she is too chickenshit to stand up to the NIMBYs to fix anything. We need Cuomo back...
As for RFK, here is the difference. You were in the medical/pharma world, and understand the specifics way better than me. Your outcomes (due to knowlege and exerience) will be magnitudes better than mine. You probably know where the pitfalls, risks and downsides are. Thats not the rest of the population.... I can ship stuff overseas way cheaper and faster than you, but going to the doc is like meeting an alien. Shit, I basely passed bio and chem in school.
@Reachme My .357 comment was semi-tongue-in-cheek. I lived there during Republican Bloomberg but I always kept my head on a swivel out and about anywhere (especially the subway).
I'm not saying the GWB or Cross Bronx were especially bad (though I prefer the Tappan Zee), though I'm sure Hochul has fucked up a lot of other things. I liked how she was begging New Yorkers who left for Florida to come back and cut checks for their welfare programs.
It doesn't take an advanced science degree to see that RFK is a freak show. Just listening to him talk about bear corpses and cutting off a dead raccoon's penis is enough to confirm he's a weirdo.
Personally, since I don't need to get a home loan car loan, or borrow any money from a bank or financial institution. I'm happy to see interest rates go up, I can make more interest on my money in the bank with CD's and T-Bills. I hope the Feds raise it higher.
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As far as I can see, the Fed fiddling with the discount rate is similar to me fiddling with the knob when I'm simmering a pot of beans. The Fed sees low unemployment and high inflation as signs the beans are cooking too fast. So they have to raise the rate to slow down the simmer. In the 70s, the Fed didn't know what to do, because both inflation and unemployment were high. Under Volcker as chair, they decided they had to prioritize lowering inflation over lowering unemployment. Which caused the economy to recover, but only after a very bad recession. Which caused the permanent loss of many decent factory jobs, that were already too scarce. So the Fed is aware that high interest rates are a medicine with bad side effects. That's why they held back with the post-COVID inflation, hoping market forces alone would handle it. But that seemed to work as well as Fed lack of action in 70s, and before the 2008 clusterfuck. So, yeah, we could say high interest rates have bad problems, so let's just not do that. But, good chance it would shake out like saying Obama's deal with Iran had bad problems, so let's just not do that.
@ilbbaicnl Your statement is solid.....but I contend that Trump berating and commenting on the work the Fed does is akin to your toddler watching you cook something on the stove and yelling at you that you aren't doing it right.......without even knowing the contents on the stove.
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@stripperlover777 Artificial Intelligence is a helluva lot more accurate term. Super/Superior/Supreme Intelligence sounds like something out of a comic book from the 1950s. In fact, "superior" is used in a number of IQ tests for humans, which could lead to confusion on if someone is talking about natural human intelligence or artificially created intelligence.
And, speaking of comic books, if someone was talking about supreme intelligence, they could be talking about the Supreme Intelligence artificial intelligence created by the Kree in Marvel Comics.
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@stripperlover777 He looks like he's waiting for someone to call him for advice. After all, he does know more than anyone else.
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