bloomingkales
joeyagreco
> The tech cuts aren’t scary at all because who can cry foul when the ice cream machine is about to replace the ice cream man? Ice cream man was never a real job to begin with.
what ?
alabastervlog
Stagflation seems likely, due to the combination of terrible and harmful ideas being implemented at once, in which case the Fed's hands will be tied on rate cuts regardless of the unemployment rate.
If Trump successfully gets people to think this is all somehow the Fed's fault, the Musk-backed and recently (re-)introduced in the Senate bill to eliminate the institution entirely might get traction.
Then there's the "department heads, submit a report in 90 days on whether I should invoke the Insurrection Act" thing that's due in about 45 days.
Lots of balls in the air and not enough hands to catch them.
null
bloomingkales
The Fed audit is in the Bingo cards I guess.
Only the president can set interest rates.
Raises hand, “Bingo!”
techpineapple
[flagged]
null
hedora
Heh; like many, I've been wondering if Trump would dismantle US democracy faster or slower than Hitler (this is Trump's day 45; Hitler took 53).
We've been asking the wrong question: How quickly will he break the economy, and will it be a record?
A quick search comes up with some runner-ups:
- Herbert Hoover mismanaged the stock marker crash of 1929, leading to Hoovervilles and the Great Depression. That was multiple months after he got into office, and ended when FDR implemented the New Deal.
- James Buchanan arguably caused the Panic of 1857, but that hit in August of his first year, and ended with the Civil War.
https://teachnthrive.com/history-passages/u-s-passages/the-w...
https://en.wikipedia.org/wiki/Panic_of_1857
So, in about 4 years, we can either expect a leader that ushers in new era of functional government and economic prosperity, or a debilitating war.
Does anyone know of anyone that was faster?
The searches I ran mostly came up with US leaders. I'm guessing there's at least one country with a leader that managed to stop international trade and start printing money faster than this.
AnimalMuppet
"Start printing money"? Trump 1 printed lots of money, Biden printed lots of money. (Don't recall specifically, but Obama probably did too.)
Is there any sense in which Trump has "started" printing money since January?
Powell said no rate cuts until hiring cools. This is an interesting way to do it.
The tech cuts aren’t scary at all because who can cry foul when the ice cream machine is about to replace the ice cream man? Ice cream man was never a real job to begin with.