Scraping the bottom of the barrel

President Trump on Federal Reserve Board Chairman, “Here’s a guy, nobody ever heard of him before and now, I made him, and he wants to show how tough he is. OK. Let him show how tough he is.”

This is the President of the United States. How rude. But what about the most important point… Artificially low interest rates, which Trump craves like diet soda, lead to booms which lead to busts. They create an atmosphere of prosperity that is shallow and unsustainable (now there’s a shallow word).

When Trump gets his way and the printing presses are put in high gear a boom will occur and the bust will come after he leaves office. The blame for hard times will fall on the next president.

But instead, it’s a celebrity bashing party. And all the discussion will center on Trump’s rudeness and brashness and the inept Chairman, without any mention that interest rates can be set purely by supply and demand with a stable currency backed by a substance that resists manipulation (like, heaven forbid, gold). There could never be a fairer way to establish an interest rate than an agreement between the lender and the borrower. Want fair? There you go.

On the Democratic side there’s this: A guy named Castro wants reproductive rights for transexuals.

Image result for tru7mp and castro

3 responses to “Scraping the bottom of the barrel

  1. “The blame for hard times will fall on the next president.”

    No, Fritz, not if the next president is a Democrat. Right now, it’s either Trump who gets 99% of the blame for all that’s {supposedly) bad domestically, or It’s blame Iran for anything viewed (by the propagandistic media) as bad relative to U.S. foreign policy.

    Trump’s straight-forward talk has a lot to do with what got him elected. He talks like the guy sitting next to you in a neighborhood bar.

    • Yes, I know what you meant with your comments. But it seems to me that before the U.S. goes belly-up financially, a lot more dominoes around the world have to fall first. The FED’s quantitative easing has been in place since at least Bernanke’s time. The dollar gets stronger, the dollar is still the world’s reserve currency. Oil price and stock market performance do not portend a calamity.

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