Trump has a new rule for Fed Chair, and he wants to terminate media licenses too.
The Trump Rule
The Financial News today was great — GDP up 4.2% as opposed to the predicted 2.5% (and this, despite the downward pressure of the recent Democrat Shutdown!) — But in the Modern Market, when you have good news, the Market stays even, or goes down, because Wall Street’s “heads” are wired differently than they used to be. In the old days, when there was good news, the Market went up. Nowadays, when there is good news, the Market goes down, because everybody thinks that Interest Rates will be immediately lifted to take care of “potential” Inflation. That means that, essentially, we can never have a Great Market again, those Markets from the time when our Nation was building up, and becoming great. Strong Markets, even phenomenal Markets, don’t cause Inflation, stupidity does! I want my new Fed Chairman to lower Interest Rates if the Market is doing well, not destroy the Market for no reason whatsoever. I want to have a Market the likes of which we haven’t had in many decades, a Market that goes up on good news, and down on bad news, the way it should be, and the way it was. Inflation will take care of itself and, if it doesn’t, we can always raise Rates at the appropriate time — But the appropriate time is not to kill Rallies, which could lift our Nation by 10, 15, and even 20 GDP points in a year — and maybe even more than that! A Nation can never be Economically GREAT if “eggheads” are allowed to do everything within their power to destroy the upward slope. We are going to be encouraging the Good Market to get better, rather than make it impossible for it to do so. We are going to see numbers that are far more natural, and far better, than they have ever been before. We are going to, MAKE AMERICA GREAT AGAIN! The United States should be rewarded for SUCCESS, not brought down by it. Anybody that disagrees with me will never be the Fed Chairman!
It’s absolute idiocy to propose GDP will rise by 15 or 20 percent in a year. But it’s par for the course from an absolute idiot.
Trump Kennedy Center
Truth Social: THE TRUMP KENNEDY CENTER HONORS will be broadcast tonight, on CBS, and Stream on Paramount+. Tune in at 8 P.M. EST! At the request of the Board, and just about everybody else in America, I am hosting the event. Tell me what you think of my “Master of Ceremony” abilities. If really good, would you like me to leave the Presidency in order to make “hosting” a full time job? We will be honoring true GREATS in the History of Entertainment: Sylvester Stallone, Michael Crawford, KISS, George Strait, and Gloria Gaynor.
The center was named by Congress. Trump has no right to change it.
But yes, I would love to see Trump resign to be a talk show host.
Network Licenses
Truth Social: If Network NEWSCASTS, and their Late Night Shows, are almost 100% Negative to President Donald J. Trump, MAGA, and the Republican Party, shouldn’t their very valuable Broadcast Licenses be terminated? I say, YES!
This is exactly how dictators operate everywhere. If they don’t like the news, they shut the media down.
It’s a sad day in this country to have such talk be anything but universally blasted by all party leaders.
The Real Rule
Anyone who disagrees with Trump on anything will be ostracized, shamed, or primaried.
These are all actions of dictators or would-be dictators like Trump. Anyone who does not see this has a bad case of Trump Worship Syndrome TWS.
It’s disgusting, and frankly scary.
I worked in the bond market for decades (’84 ~ ’15) and I’m seriously concerned that this secular train of long rates falling (in cycles) since 1980ish could reach a new paradigm of higher [than otherwise] rates as bond portfolio managers don’t want to add duration out of Trump inflation risks. E.g. by a excessively aggressive new Fed Chief, or deficits killing the US credit. If you were running money wouldn’t you be concerned about long bond rates and inflation? I would and am.
Trump is gonna propose a Tariff rebate to US citizens making less than $200k per year of about $2k.
The media and economists will say that this is inflationary.
Trump will wallop them by saying that these media and economists said that putting the tariffs in place was inflationary. He will further use this to show that the Federal Reserve was full of !#$% for not lowering interest rate further and vocally saying that his tariffs were inflationary when they were in fact the exact opposite.
Hopefully, by showing how incompetent the FOMC is, he can clean house there.
Truth Social: If Network NEWSCASTS, and their Late Night Shows, are almost 100% Negative to President Donald J. Trump, MAGA, and the Republican Party, shouldn’t their very valuable Broadcast Licenses be terminated? I say, YES!
Saying and doing are two different things. Trump is pointing out the well known fact that the mainstream media is left wing. When the current owner of the L.A. Times decided not to endorse a candidate in 2024, the editorial department had a fit. When Larry Elder ran for governor in the Newsom recall, a writer in the L.A. Times called him the “black face of white supremacy.” Elder is no such thing. I stopped watching the network news programs a long time ago, due to their bias and the late nite talk shows have a political bias as well, since Jay Leno left the air. I even stopped watching the awards shows of the industry i used to work in, due to them becoming politicized.
I read some time ago that Roosevelt held radio broadcasters license terms to 6 months so that they wouldn’t risk saying anything bad about him.
Being number 1 in viewership, I thought Fox was main stream media and it is not left leaning.
The deranged and demented tyrant needs to be stopped at all costs before he does enough damage that will take years, if not decades, to undo.
Absolute worst president in the history of the US and ranks near the top of most deplorable leaders from every country in the world.
All of taco’s degrading of biden has come back to haunt him. The lesson is one should be be careful what they wish for others as it might come back to haunt them (and justifiably so).
I don’t understand how the people who voted for the guy who incited January 6th could have expected a different outcome.
I remember the 4 year coup against Trump by the Democrat Party. I would have expected a different outcome than behavior like that from the Democrat Party. I wouldn’t have expected the FBI to have illegally spied on candidate Trump in 2016. I wouldn’t have expected 51 intelligence officials to sign onto a letter fraudulently claiming the the Hunter laptop had the earmarks of Russian disinfo, to interfere in our election. I wouldn’t have expected the Capitol Police to have fired on the Jan6 protestors without warning or the Capitol Police Chief to have been deliberately kept out of the intelligence loop that day. What was being plotted against the protestors?
“The Capitol Police fired on the protesters without warning….”
Where do you get this stuff?
Didn’t they shoot someone dead?
Are you referring to Kushner’s laptop or Hunter?
If he invade Venezuela it won t be about bringing demovracy but right wing cronism and billionairs.
That is the same regime as in Russia.
Maduro s regime is corrupt but you have better to side with someone pretending to be good rather being overtly bad.
Well, if it can’t get abolished yet, at least it could be Trumpified……
The only virtue in the Donald is that he’s finally exposing the insides of the federal government. The only difference between him and his predecessors is that he drops the trappings of the presidency, but the office has been nothing but a facade for decades. Let the ring master host the three ring circus that is DC.
This is oversimplified and naive. I have friends who work at the SEC (a part of the government) and they are definitely not merely propping up a facade. Blasting that of which you know next to nothing is a waste of time.
No, he’s creating “insides of government” that never existed before. All this talk of corruption and waste, and how many charges have been filed? Why did they still have to borrow 1.8 trillion dollars? Like the people who were stealing all the money from – they weren’t – USAID. Corrupt Musk and corrupt Trump just made that up. USAID was a part of farm income, now destroyed, and now he’s paying out a 12 billion dollar bailout, it will get bigger, to keep farmers voting for the Republicans, from Red farming states, and their horrifically bad, yet again, management of the farm economy.
Kevin “Smiles” Hassett said he believes in the independence of the Fed, so presumably he will have to lick around a 100 miles of butt crack to get back in Trump’s good graces.
“At the request of the Board, and just about everybody else in America”
,…..nobody asked me.
-Miffed D
Merry Christmas everybody!!!!!
he’s going to appoint a guy that cuts to like 1% in a year. i am investing accordingly .
at least he’s being hoenst about it.
he’s appointing puppets loyal only to him. in a very real sense, he’s appointing himself.
If true, its worse than scary… I think his alma mater should have its credentials revoked.
He will appoint a guy that wants to cut 2% in a year but that guy doesn’t make the decision himself and the fed governors aren’t exactly lining up behind Powell today. I can’t believe they will be more subservient to Trumps sock puppet chair or at least I hope not.
If you are old enough to remember Nixon’s nomination of Arthur Burns to head the Fed, you might recall that he got Burns to commit to a low interest rate policy as a condition of his being nominated. Nixon was more concerned about winning his re-election as president than about the state of the US economy.
Nixon had two rounds of wage and price controls. It’s a myth that Republicans believe in free markets or any type of freedom. Nixon was a great example.
The fed should not care about the stock market.
Sounds like another way trump can enrich himself
They have to be, millions of finanicial advisors and insurance companies depend on it to make a living.
Breaking: President Trump desires next Fed Chair to have perspectives that align with his administration’s.
Dude- name me a single President since the Fed was founded that didn’t want a Chairman who shared their views.
What a stupendously stupid and ignorant post, wreaking of liberal desperation.
Stupid person defends stupid pedo… a story as old as time.
I can name you one. President Ronald Reagan renominated Paul Volcker as fed chairman in 1983, after President Jimmy Carter nominated Paul Volcker during his presidency. Reagan and Volcker were not aligned as to policy issues.
And Biden wasn’t aligned with Powell either.
For those of us not in a psychotic state of worship, it’s fascinating to watch how depraved and wicked the lot of you have become
This is so far beyond liberalism vs conservatism, it’s like a parody
Sharing views and not having a single disagreement are sort of not even in the same galaxy.
Your’e missing the point.
With Trump we know he wants the Fed to cut drastically. he said he wants rates to be zero or close to it. He thought at the last meeting that the rate should have been lower by .75% at least.
No one other than him thinks rates should be zero now or anything near that. He’s nuts. But he will appoint someone who will just do it because they want to be Fed chair.
and other POTUS never had this sort of meddling. yes, they may choose someone generally in tune with their philosophy but will pick whoever is deemed most reputable and has the experience. Obama appointed Yellen because she was at the Fed already ad was well respected. he didn’t do what Trump is doing: applnting a Fed chair solely based on him agreeing to do exactly what he wants and what he wants is drastic.
Trump appointed Powell for the same reason, but now he doesn’t care about qualifications he just wants someone to do what he wants.
Bo, most Presidents appreciate the concept of countercyclicality. Trump is literally advocating for pro-cyclicality. Economies don’t do well without counterbalance.
Picture altered much? 😆
Mike, it’s “wants to terminate”, not want to terminate ..Cheers!
I’m sure you saw this Mish, David Stockman too is putting people, like Lacalle, on blast notice for agreeing with Trump’s stupid economics:
https://davidstockman.substack.com?utm_source=navbar&utm_medium=web
It has to be some form of Stockholm Syndrome, cause these people know better, yet join the cult, while ignoring all economic knowledge they have cause TWS.
https://davidstockman.substack.com/p/no-senor-lacalle-trump-didnt-make-933
Crap bad link to the article
Strong Markets, even phenomenal Markets, don’t cause Inflation, stupidity does!
Interesting…
Einstein thought stupidity is infinite. Explains many, many inexplicable things.
The means of payment money supply just increased by 1/2 trillion dollars. M2 didn’t move that much. But there was a massive shift from time deposits to demand deposits.
Time deposits have relatively low turnover rates. But demand deposits turnover is spectacular.
well we just found out our president watched a man kill his own 13 year old neice’s newborn baby on a yacht in lake michigan