Take a look at local money market makers wielding far more influence over the daily lives of Americans than any pezzonovante politicos . . .
Market Watch: Fed’s George backs two more interest-rate hikes this year, ‘several more’ in 2019
BB: Fed's George says rate hike criticism by Trump won't sway Fed
FoxBiz: Kansas City Fed chief supports central bank independence
As money gets tighter, look for City Hall to get squeezed thanks to a spate of recent borrowing but very little local improvements outside of the loop to show for it.
You decide . . .
Trump is fucking stupid AF, so of course the Fed won't listen to him. Good for them.
ReplyDeleteSuch a great economy! You're about to pay more interest on your credit cards, ARM mortgages, and auto loans.
ReplyDeleteMaybe you should'nt carry a balance on your charge cards and take the risk of an ARM. Rookie mistakes. It will will be nice to finally earn some interest on FDIC insured CDs though. Not all bad being a geezer in my 40s.
DeleteI have my 401, union pension and social Security. President Trump is doing a Great Job. Also keep a zero balance on my credit cards every month.
ReplyDeleteWhy haven’t we abolished the Fed?
ReplyDeleteMaking the world a tougher place to live for the middle class and poor...all to own Trump! what a wonderful future
ReplyDeleteThey raise the interest rates to stop inflation. Everyone knew that those tax cuts to the 1% were not really free. Deliberately ballooning our national debt lowered our credit worthiness.
ReplyDeleteThat is the only way to bring Trump And the Republicans Down You raise interest rates.And tighter credit. The stock market crashes. The Democrats take over the WORLD ORDER IS BACK IN BUSINESS .THE SMART MONEY HAVE BEGUN SELLING. AND THEY WILL SHORT THE MARKET ON THE WAY DOWN. They have there money and when have the country is starving .They will have there few Acers in Colorado THE OZARKS Montana ect.They are prepared as well as the Rocker Welcome Venezuela to the U.S.AND SAY THANKS TO GEORGE SORASS ...
ReplyDeleteInterest rates have been held down way too long creating asset bubbles along the way. The Fed may have managed to keep us from a deeper recession in 2009 but it only prolonged the damage and laid the groundwork for the next bubble that bursts.
ReplyDeleteHey 9:23AM you seriously need to get off the Faux News bubble. You have your Social Security right now, but Paul Ryan and your buddies in the GOP are coming for it. They want to reduce it so they can pay for the income tax they passed for their rich buddies. Don't believe me? Look it up! It's coming after the mid-terms. Somebody has to pay for that tax break...guess what? It's you and every other senior who is currently getting Social Security. MAGA! Congratulations, you voted against your own interests again! Fucking morons.
ReplyDelete^^^You're the moron. Any changes to the Social Security Act will not affect current beneficiaries, because their rights to current benefits are vested.
ReplyDeletePayroll taxes, which fund SS payments, were not changed by tax reform. Any shortfall comes out of the general fund, but for many years Treasury used excess payroll tax revenues to fund other programs, with the result that Treasury now owes SS several trillion dollars, all of which predated the tax reform package.
Finally, moron, you seem ignorant of the established fact that reduction in tax rates does not necessarily mean a reduction in tax revenues. That appears to be happening now. We'll have a clearer idea of its extent next year.
^^ Hey 12:07PM-Are you retarded or a member of the GOP? You are wrong on every single point you mentioned. No where ever, anyplace, are your current benefits vested! You have absolutely no idea what the fuck you're talking about!!! You fucking moron! Jesus Christ, there is a thing called the internet, they invented it awhile ago. Look it up. Do the fucking work and get back to us. Tell me where your benefits are vested! I fucking dare you! Oh yea, also take a look at the deficit numbers the GSA put out. The deficit has and will continue to explode under this tax cut. Don't come back here until you educate yourself. I always wondered how people could be so fucking stupid to support any GOP fiscal policy. I see how now. You fucking morons will believe anything you're told and you have ZERO fucking idea what you're talking about!!! Fucking moron!!!
ReplyDelete12:28, your counter-arguments are so rational and yet exquisitely subtle that I am almost convinced that whatever you're ranting about is true. But not quite. Try harder.
ReplyDelete^^No need to convince me your a geriatric fucktard. Your post confirms it.
ReplyDelete@12:28 Don't be mad that us geezers have guaranteed income and you will have to save be disciplined and save your own money. I want to thank all of you for supporting my beer, Harley, and vacation habit in my old age through my Social Security income. I could easily survive without it, as I now live off of my investments, but I consider my SS income as play money. Hooray! I am buying another cruise for my kids! Thanks Social Security!
ReplyDeleteWell let’s see fucktard, you’re retired and you still live here? Sounds like you’re broke or a geriatric fucktard. Likely both. You ride a Harley? That confirms you’re a geriatric for sure....also confirms fucktard stays as well. Your beer habit? Also confirms your a heaving humping hog as well. Nice try gramps...you’re fooling no one. Now get back to your cat food dinner. It’s a long way way Neil your SS check comes again. No need to thank me fucktard, I work.
Delete8:56: Fed interest rates have generally been 5%; they were drastically lowered because of W's Great Recession, hurting savers. Rates are merely returning to their historic levels.
ReplyDelete9:23: YOU have your 401(k), Social Security, and your union pension plan, but there are proposals to means test Social Security, and very few younger workers will ever see a pension. When Congress decided to tax first 50% and then 85% of Social Security, current beneficiaries were not exempt. The Supreme Court has ruled there is no vested right to Social Security.
12:28: You ask, "Are you retarded or a member of the GOP?" These are not mutually exclusive.