Posted on 01/28/2017 4:36:41 PM PST by Right-wing Librarian
"If Hillary Clinton would have won the election, then the Fed would have continued with more moderate interest rate hikes – or none at all – as they did for President Obama. So let’s get this straight – when the Fed raises interest rates it is to worsen the U.S. economy. Why? When interest rates go up, what happens? There is less borrowing. So what do you suppose happens to the total amount of money in the U.S. economy when there is less borrowing? There is less money. And that’s how the Fed justifies it.
Didn’t Volcker raise rates sky-high during the Reagan years?
Economy grew at 5-7%.
You might want to check with an economist on your statements on the fed. I think it was rand Paul that said if we did away with thy fed private banking system we would be about 17% richer in out bank accounts.
SHUT THE FED DOWN. Bulldoze the building and prosecute them for fraud!!
If the Fed gets too hostile Trump could do the following.
1. Audit and investigate the Fed. Probably could do with EO via Treasury dept. It’s a private corporation operating in the US and it can be audited and investigated like any other US corporation.
2. Issue Treasury notes for currency to increase money supply if interest rates go up.
An interest rate increase in Dec was expected long before the election and it had nothing to do with Trump. Hurting the economy? Interest rates are very low from historic perspective. Raising rates a 1/4 point can hardly be judged as hurting the economy. This was the 2nd time rates had been increased in a decade. The fed kept rates artificially low for far too long IMO.
Each Fed bank is audited, like any other corporation.
>>You might want to check with an economist on your statements on the fed.’
*************************************************************
They were not my comments. They were by the author of the video.
That said, ask 100 economists a question, and you will get 150 different answers. : )
No, Volcker raised them during the Carter years and maintained them to kill inflation which had grown out of control under Carter.
Volcker kept interest rates high in the first two years of Reagan’s first term which prompted the political establishment to provoke a showdown between Reagan and Volcker (Reagan did not have a GOP Congress) in order to embarrass Reagan and try to make him own the legacy of inflation which they thought was permanent.
But Reagan roared back with one of his legendary sayings “STAY THE COURSE!” meaning let Volcker do what he needs to do. Because we knew that Volcker was trying to do the country good by slaying the inflation dragon which was quite dangerous in the Carter years. Volcker had not allowed his Fed to become politicized.
As it is today, we have a politicized Fed. We have massive corruption everywhere and in everything. It is a different situation today than it was during the early 1980s.
Today, the Fed needs reform, badly bigly needs reform.
I think Volker was under Jimmy Carter, and he limited the money supply which eventually raised home interest rates to around 24% for a new home loan.
Regan was afterwards with Trickle Down Economics and very successful as I recall.
“SHUT THE FED DOWN. Bulldoze the building and prosecute them for fraud!!”
Agreed.
What the hell is ‘the fed’?
What part of government is ‘the fed’?
Is ‘the fed’ like federal express?
It has no right to exist. It is a private bank.
Andrew Jackson killed the bank, and now its back.
Trump needs to emulate his distant Godfather Andy Jackson and shut down the Federal Reserve. Then let the market take care of interest rates. We are in for a crash of some sort and the sooner it happens the less severe it will be. The bust of 2007 should have been let to take out all the weak and grossly overextended corporations, most of them financial. We would be in a blazing recovery from the resulting deep crash even now did that happen.
Well said, Art.
“If Hillary Clinton would have won the election...”
Where is this coming from? It’s everywhere.
Should be: “Had Hillary Clinton won...” or “If Hillary Clinton had won...”
No. Rates went sky-high in 1979-81. Caused terrible recession. Slowed inflation. Lots of idiots voted Democrat in 1982, as though that was supposed to accomplish anything.
I know. Ain’t their mamas done learned them nothin’? LOL.
20 trillion dollars of debt, wreckless spending, and zero % interest rates had to come do. The world did everything in their power to prop up the teleprompter messiah. They hoped Obama would finally destroy the US and join the one world government.
Now, Trump won. The world banks, feds, and every little thug in the federal government is going to make sure to punish America for Trump. They are going to throw everything at him and the fed will raise rates. All to say, “you see, you see? You stupid Americans voted for a republican and look at the pain.”
Spot on, OP!
HOORAY Bill Still and zerohedge. Thanks for posting. UNaccountable bureaucrats.
DISMANTLE CFPB
DISMANTLE FED
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