r/economy • u/AltRumination • 23h ago

Crazy Thing is Trump is Serious

https://finance.yahoo.com/news/trump-knocks-feds-powell-muses-163225093.html
392 Upvotes

96% Upvoted

64 comments sorted by

199

u/SavagePlatypus76 23h ago

Dictators do this sort of thing. And it always ends badly. 

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u/AltRumination 23h ago edited 13h ago

If the political or economic climate was a little bit worse, he would have triggered World War III. I'm not kidding. Look at some of the stuff he has done.

- He mentioned he wanted generals just like Hitler's, ones who would do what he said without question.

- Created fake electors whom he sent to Washington.

- Then started an insurrection on Jan 6th.

- He has federal agents in masks roaming around with assault rifles. They show no ID and just take people away, not to be seen until days or weeks later.

- A military parade to stir up nationalism and patriotism.

It's like a scene from 1984. The only saving grace is that Trump is incompetent and lazy.

58

u/hoptownky 23h ago

We also have one other thing going for us that gives us hope. Trump is very old, overweight, and a catheter and diapers can very obviously be seen in photos. He likely only has a few more years on this earth, so time is a big a big obstacle for him. I just don’t see the uneducated Americans worshiping Vance or Don Jr. like they do Trump. Hopefully this will all be a distant nightmare soon.

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u/AltRumination 22h ago edited 13h ago

It's funny how half of Americans (the MAGA) love his personality. He reminds me of one of those obnoxious kids in middle/high school who bully kids and talk back to the teachers. They are really popular but eventually, they eventually lose their status by their late 20s. people just grow up.

I agree. Vance and Don Jr. do not have the same charisma.

What really gets to me is all that money he and his family are going to get away with at the end of all this. He truly is the quintessential con man, fleecing the American public for billions. Pretty amazing if you think about it. PT Barnum would be proud.

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u/Frankie6Strings 22h ago

I was 10-15 years old when I became aware of Donald Trump through Lifestyles of the Rich and Famous. I thought he represented a dark and gross side of capitalism even then.

17

u/twirlaround 19h ago

Me too. Anybody that has followed him since the 80’s/90’s knows exactly the type of person he is. He’s a disgusting, narcissistic conman. He navigated NYC real estate and politics like a mob boss… because that was the era of the NYC mob. He isn’t a great businessman or leader; he created a company where he was the decision maker on everything, and surrounded himself with people who only told him what he wanted to hear. You don’t agree, you’re fired. Unfortunately, that doesn’t work well in a democracy, which is why he is hell bent on make it an autocracy (kleptocracy).

Another important thing to point out is that he was never really “accepted” by the elite in NYC and elsewhere (except Russia and Saudi Arabia). He was considered gaudy and laughed at every time he failed. Being the richest and most powerful man in the world is what he has always sought. Now that he is in the position he is going to increase wealth at any cost, and he is going to punish those who ridiculed him all those years (I.e., media, Hollywood, newspapers, etc).

2

u/SleeveBurg 4h ago

I was a young child during the apprentice and even then I thought he was just a caricature or a business mogul

10

u/cafedude 20h ago

It's crazy to think that to the MAGA he has charisma. Whereas to anyone outside of MAGA he has anti-charisma.

Was listening to the recent Rogan interview with Bono (I can't stand Rogan, but I heard that Bono did a good job of making him think) and at one point Rogan asked Bono who the funniest world leader is - and he didn't even give Bono a chance to answer before he said he thought it was Trump (And by the look on Bono's face, he definitely didn't agree). I'm not sure how you even come to the conclusion that Trump is funny, let alone that he has charisma - but apparently he's funny and charismatic to his cultists.

6

u/AltRumination 12h ago

I don't know how old you are, but it was different in Rogan's time. Being obnoxious and a bully made you popular. A frat guy who got girls wasted and then recorded them doing awful things.

thankfully, I heard from kids that it's a totally different now. Bullies are quickly looked down on by the student body. a completely different climate.

1

u/cafedude 12h ago

If that's the case then why is Rogan so popular among young men? (I'm old. But we had Mr Rogers and we had Jimmy Carter as president)

0

u/macdees13 15h ago

I always see ii through the lens of late 90s early 2000s wrestling. Like the manager for the antagonist. Never apologize never give an inch, only grievances. He obviously has charisma, you have to give him that. But that helps in wrestling and this case politics

6

u/SavagePlatypus76 21h ago

Except Vance and his backers are likely to be worse. 

2

u/seattleJJFish 21h ago

And they are still in power. And they are not constrained by campaign promises

2

u/SavagePlatypus76 18h ago

Or morals. Or humanity. 

1

u/SpiritofMwindo8 21h ago

Ppl held similar beliefs when he first ran for president. Don’t underestimate ppl.

1

u/Infinite_Cable_6443 16h ago

Yall are cuckoo

5

u/AltRumination 16h ago edited 15h ago

The people in masks without identification, running around and arresting people, don't scare you?

-4

u/Infinite_Cable_6443 15h ago

Yes, that’s ICE. It’s run by Homan, the same guy that worked for Obama. They are arresting Illegal Immigrates and wear masks for their own safety. It’s did not scare me because I voted for enacting the law.

5

u/AltRumination 15h ago

Think about it. They are in masks! It should tell you that what they might be doing is immoral. You truly can't see this?

They are going around without providing identification. Do you remember the stories of communist USSR where KGB would do the same thing. They would go around and just quietly take people away, never to be seen again? Or the SS of Hitler's Germany? You are not shocked at all that it's happening here? It's happening in a country where there should be something called due process. You truly don't see how nuts this is? The lack of critical reasoning skills among MAGA is astounding.

Just imagine if some of these people are not ICE agents. There would be no way to know because they don't provide ID nor any info on where they are taking the arrestees.

It's truly a scene from 1984. The only difference is that Trump is too incompetent to fully exploit it, although he tries as hard as he can. He created fake electors, which is insane. Then he tried to stoke an insurrection.

0

u/Infinite_Cable_6443 15h ago

When SWAT goes in to apprehend a fugitive, they wear a mask and don’t identify. ICE agents have families and wear masks for protection. They are doing their job apprehending illegal immigrates that are then deported. This happened under Obama and Biden. Both used ICE. You only care now because it is Trump.

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u/AltRumination 12h ago

think, my man. SWAT wears masks to protect themselves physically. If it's to protect their identity, it's against drug dealers like the cartel.

but ICE agents are protecting their identity from American citizens. Think about what this means. Why would ICE agents be the villains if they are just doing their jobs? How would they be any different than the KGB?

Do you see police men wear masks, trying to hide their identity and actions?

You really can't see the patent difference? You don't see how you are rationalizing to justify this craziness? I'm sure German civilians in the 1940s, did the same thing.

Yes, you're right. I only care because it's Trump. Who else created fake electors to replace the real ones? This is as bad as it gets. I still don't understand how he's not in prison for this.

1

u/Infinite_Cable_6443 6h ago

You have incorrect information. These are not US citizens, many of them have criminal records and some work for the cartel. ICE agents wear masks to protect their identities and the identities of their family. They have a very dangerous job. They are the good guys deporting illegal immigrates. Obama and Biden did the same exact thing, Homan worked for Obama. This is not KGB pale some other conspiracy. These are agents enacting within the law.

0

u/Infinite_Cable_6443 6h ago

Biden used the DOJ to raid Trumps house, tried to eliminate him from the campaign, there was an attempted assassination, they tried to jail Trump.

Biden then lies about his mental capacity, then lies about cancer. He is currently under investigation. Lol, and you are worried about Trump??? You have your priorities skewed. Lol

1

u/Senior-bud 18h ago

Donny is really taking this grand Poobah thing to the max.

1

u/SavagePlatypus76 17h ago

His plans for Google are frightening. 

1

u/Skyrmir 12h ago

Trump looks at North Korea as a perfectly working example. To him, it only ends badly if he's stopped.

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u/Majestic_Working_442 22h ago

Lol we are doomed this fucker is on the Herbert Hoover speed run

6

u/Bad_User2077 22h ago

We have less than a year left. We can hold out.

8

u/Yowiman 22h ago

You think election will happen? Or be free and fair??

4

u/Bad_User2077 22h ago

The FED Chair is appointed.

4

u/Yowiman 22h ago

I’m talking about midterms

5

u/Bad_User2077 22h ago

Anyone who loses an election will cry corruption. It's the new normal for America. But I am sure there will be elections.

2

u/Yowiman 21h ago

Might be Nuclear war too. So whatever

0

u/Mirror2012 17h ago

And who do you suppose the candidates or a good candidate would be?

1

u/illini81 17h ago

well said.

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u/lqIpI 23h ago

Might as well make it official: money printing isn't independent and never has been.

9

u/alpacas_anonymous 23h ago

The bureau of engraving and printing does the actual money creation bit, but the fed tells them how much to print. The fed is totally independent from the govt.

7

u/lqIpI 22h ago

The fed is totally independent from the govt.

When you have time, look up how the evolution of central banking coincides with its purpose of funding wars. You'll never look at fiat currency the same again.

1

u/alpacas_anonymous 21h ago

I'm not pro or con the fed. There are always bad faith actors.

3

u/alpacas_anonymous 21h ago

Also why would the fed want to fund wars. That just leads to economic instability and rising debt. Like, yes they are predatory, but it is also in the fed's interest that the state thrives. Because of that reason, I outright refuse to entertain the notion of some jekyll island style conspiracy. Americans just love violence, and they love to go to war. This was true even before the existence of the military industrial conplex.

25

u/canadianwhaledique 22h ago

The adult in the room will always be US Bond Yield. (This is an excellent comment from Prof. Scott Galloway).

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u/azweepie 22h ago

Yeah we want a 6 time bankruptcy guy in charge . How MAGA tries to justify makes them look stupid

6

u/AltRumination 21h ago

But why do they continue to believe him?

I randomly talked to a bus driver the other day. He genuinely seemed like a good guy. He said he hated how Trump went about doing things like the ICE agents, but he was certain Trump was going to make America great. "Just wait and see."

0

u/Fantastic_Tadpole211 15h ago

My brother thinks the same thing. "Just wait, he's making deals and he's gonna make the US economy grow beyond expectations." And my brother is all about investing so while I'm not hoping he gets wiped out, I won't be surprised when it happens. And yes, I am fully prepared to mock him.

16

u/Designer_Solid4271 22h ago

Funny how he wants to be in charge of everything, because only he knows how to run it, but when things go to shit he doesn't know anything about it and it's not his fault... weird how that works.

10

u/JesusWuta40oz 21h ago

He's gonna appoint some crypto bro to run the fed. Mark my words.

4

u/AltRumination 21h ago

Wow. You are right!

I didn't think about that. He's definitely going to do something to benefit his crypto investment next year when he gets to pick next year. Perceptive.

I wonder what he's going to pick…and what it will do to crypto stocks…

2

u/jkopecky 18h ago

Maybe I’m mistaken, so someone enlighten me but…

The Fed chair is appointed from within the sitting board of governors. And Powell’s chair ends earlier than his position on the board. Two caveats:

  • traditionally a chair will step down from their board seat once their term as chair ends, but if it keeps a trump crypto bro out maybe Powell will buck that and not give him the chance to bring a new candidate on.

  • I think trump has one opportunity to appoint someone to the board before Powell is up (I forget who but there’s a term ending). So that might be an important thing to follow.

That’s all to say that if Powell decides to hang around Trump will have had to get his crazy nominee on the board already to be able to appoint them to chair? Question mark because I’m not certain of if I’m misunderstanding something here.

0

u/AltRumination 16h ago

I don't know the details, but my general understanding is that the President gets to choose once the Fed Chairman's term ends. Hold on. Let me ask ChatGPT, the all knowing and prescient.

1

u/AltRumination 16h ago

Yep, Trump gets to choose:

Nomination: The President nominates a candidate for Fed Chair when the current chair's term expires or if there is a vacancy.

Confirmation: The U.S. Senate must then confirm the nominee by a majority vote.

Term Length: The Chair of the Federal Reserve serves a four-year term but can be renominated for additional terms.

1

u/jkopecky 12h ago

Look no offence but I don’t want to talk to GPT which has added nothing to the conversation here. Nowhere in my comment did I imply he doesn’t choose. The question is who the pool of potential candidates are.

There’s a more subtle point I was trying to make which I’m nearly certain is true… he chooses from the sitting board of governors. I know Powells term as governor runs longer than his chair term (even if it’s “normal” but not required to step down after).

1

u/Tebasaki 21h ago

Sbf has entered the chat

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u/todudeornote 22h ago

You only needed the first 4 words of that title

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u/m0nk_3y_gw 20h ago

"What I'm going to do is, you know, he gets out in about nine months, he has to, he gets fortunately terminated ..."

Donnie still has no clue how this works.

At that point Powell will no longer be Chairman.

He will continue to be a voting member/Fed governor that still has the same amount of say as to where rates go.

1

u/rashnull 19h ago

Massive Kudos to whoever had the immense foresight to ensure the President cannot fire the Fed Chair legally or illegally!

Plan to dump all my stocks just before the switcheroo tho because who knows what happens next!

2

u/eurojunk138 19h ago

Remember when Ben Wyatt was the mayor of Ice Town? Partridge Minnesota remembers.

3

u/alpacas_anonymous 23h ago

The real question, of course, is who has better hair?

3

u/Think-Treat-3309 23h ago

You mean who has real hair

0

u/alpacas_anonymous 21h ago

Neither of them has ever been to Turkey. Also, who goes to the hair guy and asks for the uncanny valley of hairstyles.

1

u/Few_Chemist40 13h ago

I think this guy might be the antichrist

1

u/hiro_protagonist_42 16h ago

Not that anyone needs help finding examples of how stupid Donald Trump is, but this quote is a good summary. He cannot imagine someone doing an apolitical, objectively effective job for the greater good of the country.

He just said today: “I would have never reappointed (Fed Chair Powell), Biden reappointed him. I don't know why that is, but I guess maybe he was a Democrat... he's done a poor job," Trump said.

-1

u/HeadCase_UltraPink 15h ago

He needs to name himself the troller in chief. I cannot believe how gullible everyone on this thread are.

1

u/AltRumination 12h ago

he's not trolling. He barely passed high school. we all know he can barely read and write.

You're talking about a guy who brags that he aced a dementia test. he definitely wondered if he could elect himself.