To understand why it’s stupid, ask yourself what would happen if Democrats get complete control again.
Trump Calls for Three Debates Against Harris, More Influence Over the Fed
The Wall Street Journal reports Trump Calls for Three Debates Against Harris, More Influence Over the Fed
Donald Trump called for three debates against Kamala Harris, said presidents should have influence over the Federal Reserve and conceded he might be losing support among Black women during a news conference meant to recapture the spotlight after his rival picked up momentum.
The former president and 2024 GOP nominee said he agreed to a Sept. 4 debate on Fox News, a Sept. 10 debate on ABC, and a third on NBC on Sept. 25. The ABC debate was previously agreed upon when President Biden was in the race. Trump had called into question whether he would face off on ABC with the vice president now at the top of the Democratic ticket.
“I hope she agrees to them,” Trump said during a news conference at his Mar-a-Lago estate Thursday afternoon. “I think they will be very revealing.”
On the Fed, Trump asserted that he has better instincts than the central bank’s chairman and governors. “I feel that the president should have at least [a] say in there, yeah. I feel that strongly,” he said.
“I think that, in my case, I made a lot of money,” he added. “I was very successful and I think I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman.”
Off Track Message of the Day
The Fed is independent for a reason. It is to stop partisan nonsense.
I do not like the Fed and think we should end it, but only on the proviso the free market sets rates, not partisan hacks from either party.
One thing worse than an independent Fed is letting political parties control interest rates and money supply.
Trump is off in Fantasyland, again, instead of keeping on track. It’s brutal.
Trump Fires Arrows Missing the Target Badly
This morning I asked Trump Fires Arrows Missing the Target Badly, Will a Recession Save Him?
The best we can hope is Trump keeps his mouth closed enough so that his foot no longer fits in it.
Would that be enough and will Trump do it?
Heck, Trump could not even last a single day
But Trump has help. For example … How Progressive is Tim Walz, Kama Harris’ VP Running Mate?
We now have repetitive dueling mistakes.
I am sick of the whole damn thing. Am I the only one?
There shouldn’t even be a “Fed”… I don’t understand the logic of Congress (legislative branch of our government) having the authority to DELEGATE it’s responsibility to manage the nation’s money supply. Look at it this way; if you hire a specific babysitter to watch over your toddler children and come home to find another babysitter caring for your kids, would you not see that as in issue?
There is a separation of powers issue with the executive branch of government having control of the “Fed” which makes this discussion an entire waste of time and energy. NO PRESIDENT should have control over managing the nation’s money supply as it’s the responsibility of Congress!
Trump has no idea the favours Jay Powell has done for his candidacy.
It’s stupid because not even central banks understands how economics and finance works, so how are politicians going to understand how little actual “influence” they actually have?! You can see how that goes by looking at Turkey. Erdogan deludes himself into thinking he can make a dent in the global financial system, the reality is that the global financial system chews him up and spits him out. In a democratic system, the leader trying to “influence” central bank policy will just take the blame even more, when the economy turns to shit. Volunteering for such blame is dumb.
Only upside, is that noone can, even in theory,do a worse job at arbitrarily setting rates than anyone else. So, at worst (as well as at best…) Trump will do an equally good job as whomever is currently doing it.
“Trump Calls for Three Debates Against Harris”
Interesting that Harris refused to debate Trump on Fox News. The MSM broadcast networks are all left wing. Left wing moderators. In 2016, during the second debate, Trump reamed Hillary over the server, then the female CBS co-moderator jumped in to put words into Hillary’s mouth as a response to Trump’s comments. Partisan political activism, not moderation. In 2020, there was a Fox News moderator, but he was another Democrat, not a Republican. The second debate was 2 separate interviews, during which Trump was treated differently than Biden. More partisan political activism, not moderation.
Some years ago.
JQ Public We are calling because our Roof is leaking.
RF Oh OK . May I have your address to come by and take a look?
JQP 111 Main St.
RF OK will be there at time _____
RF goes outside starts up truck, drives on over
RF Hi, brought a Ladder will go up there and see whats going on.
RF (up on roof) hm seems to be a lot of softness in sheathing will take a peak in Attic.
RF to JQP. Need to get up into attic, can I come inside.
JQP Sure
RF inside notices buckets around the rooms.
RF to self hm…..
RF up inside attic, roof sheathing rotten and so are some rafters and main timbers. got Termites and Carpenter ants working also. Goes back down thru scuttle hole.
RF How long have you needed buckets to catch rainwater leaks?
JQP Oh that’s been several years. It started slowly and then it just seems to get worst over time. Can you do something now as green mold is staining our walls.
RF You mean you have known about this for some time? Is there some kind of reason this was not addressed when first started happening?
JQP Can’t you just fix it quick?
Yes I get it its’ Trumps fault because he’s a stupid idiot.
I hope Trump keeps coming up with these really great ideas. He just looks more weird by the day. Trump’s ideas are all out of autocrat’s playbook.
We had 4 years of Trump. The paranoid and obedient will continue to believe whatever nonsense is spewed about orange man bad to maintain their hatred of the guy regardless of how disconnected from reality the propaganda is. He’s a fool, but he’s not an autocrat.
Your desperation, while apparent with Headboard Harris, just gets more laughable the more you talk.
Democratic party voters love the feeling of obedience.
The Democrat’s ticket is weird. Green New Deal is autocratic. Democrats support the WHO Pandemic Treaty, which is submission to Tedros. Autocratic.
He can’t look weirder than democrats with weird democrat cross dressers and a weird democrat cackling empty-headed hag running to be the next puppet.
The racist democrats are the definition of weird.
Here is what walz thinks about you and me
https://twitter.com/Breaking911/status/1821234990299943303?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1821234990299943303%7Ctwgr%5Eae7ad5bac3e3b9a4ef2ee172147561fa32103c4d%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.armstrongeconomics.com%2Fworld-news%2Fcorruption%2Fwalz-the-covid-tyrant%2F
It’s just easier for Democrats to obey orders. They are all closeted TSA agents.
Trouble is Trump has the same flawed credit utilization style as the Fed and Central Banks.
Those statements by Trump about the Fed are not only amazingly stupid, what is more amazing is that the mainstream press continues to treat Trump as a fairly normal candidate. What Trump memorably claimed about women in fact applies to the US mainstream press: “They let you do it (i.e. be a complete idiot in this context) if you are a star.”
Yep. So far it is a replay of 2016 in how the media is treating Trump. The questions yesterday at Mar-a-lago were an absolute joke and no followups were allowed. This is autocrat style. I am pretty sure it was limited to Trump-friendly journalists and they probably had to sign an NDA.
You forgot to say it’s weird, the other buzz word Democratic party voters are compelled to repeat. Obedience. Remember.
Casual Observer is too racist to remember the Manchurian Candidate trigger words the DNC put in his walnut.
“I am pretty sure it was limited to Trump-friendly journalists and they probably had to sign an NDA.”
Which means you don’t know. Kamala refused to hold the first debate on Fox News, which is autocrat style.
Do Fox News have ANY journalist? We know the kind that when taken to court for defamation, he claimed his audience knows his program is “entertainment” not news. Is that the “News” network are you referring to?
More than CNN, who are now officially valued at $0 as a company – the value of MSNBC, CBS, ABC lying and propaganda.
I am afraid all those journalists, whether mainstream or Trump-friendly, don’t have the guts to push back against a bully like Trump. What happened at Mar-a-Lago is a disgrace for US journalism. Even in autocracies around the world, journalists show more backbone.
Racist Democrat Bully Biden and weird Hate Harris, and their weird paedophile insider trading corrupt propaganda media mafia don’t push back Democrat Dictatorship.
Paedophile Biden and the Racist Democrats never answering questions is Democrat Dictator style.
Presidents already have enough influence over the Fed through their ability to appoint the Fed chairman. They don’t need any more than that.
Besides, why does Trump even care because he can’t run for re-election if he wins so it doesn’t matter if things crater or not due to Fed policies. So he should be freed up from worrying about re-election to concentrate on doing important things.
Does anyone believe that there will be any debate about how Fed operates coming out of Congress or any other Branch of Government?
Is there a problem when 1% of population controls more wealth then entire middle class?
So Donny opens his mouth. So what!
Is he going to magically get granted power over Monetary policy because he questions what is going on with Fed operations?
Most Americans must be questioning what Fed is doing every time they collect a paycheck or go grocery shopping or go look for a roof over their head.
How is anything going to get corrected as to outcome if no one asks the simplest question about Results of monetary policy?
Is the Fed really all that independent as they claim or are they beholden to Banking sector?
Maybe ask Ron Paul about what Fed policy should be.
Add: If Trump does get re-elected and people now understand that their financial lives are in taters. Who but Head of the highest administrative office in the Nation should be that Tip of Spear needed to get Congress off their asses and take some responsibility.
Some do not like his approach, yet where is any change supposed to come from with things as they are?
Like it or not, Trump is a liberal, just not as liberal as the other side. He spends like crazy, just like the dems, on different things of course but still spending and causes much debt. To turn this country around, we will need much pain, and I don’t think any politician can deliver that.
Trump was duped by the people he hired into this “warp speed” BS, which killed alot of innocent people….
At least under Trump he did not order anyone to take the Vaccine. I and my Wife choose to not participate.
There are still the lunatics out there who want to make government final arbiter. I will not comply!
Agree with you, it was obvious to me that the jab was worse than stupid.
I agree with you about Trump and spending. It is problematic for me.
However if the Fed is not challenged about its own cult religion of Keynes economics, basing entire Monetary policy upon creating Demand or Demand destruction, the path forward is only going to keep getting worst.
Where is it in anyone’s interests to keep increasing the concentration of Wealth into fewer and fewer hands.
With current policy those with direct access to Fed window are first in line when it comes to controlling assets with Debt.
All other people are Debt serfs within the current Debt based control system.
Is there a problem making Kings and Queens of Wall street or trans national corporations having divine rights that super-cede those of the peasantry.
Trump rarely got much of what he proposed as entrenched interests are right there to subvert change from happening.
It is a beginning of change. I wish we had some real leadership in Government. We do not, so even if it is using a 16 oz hammer to scratch the walls of the citadel it will never change until the first Hammer swing gets taken.
No one that matters at the Fed actually believes the garbage economic theories they subscribe to. They serve only as a means to an end.
He can try. You need a lot more than the executive branch yakking at Congress. If people who wanted to end the Fed were smart, they would come up with a REFORM plan and float through both parties of congress. I think there would be support. When you move to ideas like ending the Fed you sound weird and crazy like Ron Paul or Rand Paul. Ending the Fed would not be better than what we have now.
Am considering voting Harris, this way the Crash will come sooner and then can get on with rebuilding America.
I had thought there was some people left with enough questions to want an avoid catastrophe.
Am finding that those who think this is some form of upmanship that can end in a positive are where the problem sources.
I have prepared for either eventuality first being some short term turmoil then clearing skies or the second which will be tyrannical ending in another Robespierre scenario.
They are already in tatters (and Irish taters too), you illiterate fop. Unemployment rose every month for the last 2 years of Democrat fascist incompetence.
I enjoy your posts. They provide hope there are others who have had enough.
Did you read my other items about Fed?
By the way am not a fop. Drive a 1995 Dodge Ram with a Cummings diesel. Jeans with holes in them is a way of life for me.
Do not consider myself a high intellect, but do have a lifetimes worth of common sense learning’s under my Belt. The illiterate part probably has some truth to it.
So, just a reminder, all of the problems including the debt is not fixable by voting.
Debt has no constituents either. Who exactly does the government owe the debt to that has constituency.
Debt is borrowed from the future, and stymies growth in the present. It’s bought by foreign governments and large scale investors like pensions, transferring wealth from the young to the old, and to prop up unsustainable public health systems.
Government debt is a tax on hope that rewards the indolent and destructive.
I am sick of all of it as well Mish. My god what have we done to deserve these two? Is this the best we have to offer?
As far as the fed goes, the free market sets the rates not the fed. Pull up a few charts, the market always is ahead of the fed.
People have to realize that both trump and biden spent like crazy sailors during covid and both are to blame for the inflation we currently have. Actually congress is to blame since they are the ones that pass the spending legislation.
And nobody is talking about the real problem which is the 35 trillion in debt, going up 1 trillion every 100 days.
the debt thing is only important insofar as it drags the economy and leads to malinvestment. worse case senario on the debt is it lowers standards of living, but as long as factories keep getting built and things keep getting bought and sold it can be managed. Not the zombie apocalypse as i used to think.
The debt is the reason interest rates are going up and will continue to go up as long as the congress keep spending like fools, which the majority are. Yes, I understand that if they stop spending we end up in a depression, so be it, we can crawl out of that in a few months and start again..
that makes no sense. the debt was just as bad when interest rates were near zero for a decade.
…or the quadrillion in derivatives.
Every president since Clinton increased the debt, though Bush did so mainly in the GFC emergency that he passively allowed to happen after Clinton passively allowed the dot com bust to happen.
Blast from the past: “The problem that I have is with the Fed. The Fed is going wild. I mean I don’t know what their problem is but they are raising interest rates and it’s ridiculous,” Trump said late Wednesday night. “The problem in my opinion is Treasuries and the Fed. The Fed is going loco and there is no reason for them to do it and I’m not happy about it.”
I believe the Fed is controlled by the same people who control our representatives (with the exception of a few) in government. Call it crony capitalism if you like. The Fed has been a scam on the American people from day one. It never was independent and never will be. Therefore the discussion should not be about Fed independence, but about its total abolishment. Period.
you are right it is not independent. it a function of the government with 2 mandates 1:maximize employment 2: keep inflation low. the question is if they are competent at their jobs. mish says no, but i am not pulling out my hair over it.
Fed is created to stabilise the banking system.
It couldn’t prevent the Great Depression in 1930’s
but tamed the 2008 Great Recession of 2008.
Obviously there will be problems with Fed and
without Fed.
Many, including myself, believe that the Fed is the main reason behind the Great Depression and every recession since. The only thing that is obvious is that they took pre-Fed local banking shenanigans to a national level.
There was a simple Shepard named John Keynes who was out tending his flock. Yet behold up on distant Mt Sinai he saw a light,
I must go and see this wondrous light that does not waver said John Keynes.
John Keynes thus climbed a footpath and went and saw, behold a burning bush that is not consumed, and a voice came to his mind and said behold take off thine shoes for thou standith on Holy ground.
And the finger of God reached out and wrote these words upon a tablet of stone,
“aggregate demand- measured as the sum of spending by households, businesses, and the government-is the most important driving force in an economy”
Being as we have the great Prophet John Keynes bring us this glad tiding thus was born modern Central Banking.
Saint Jerome who must not be questioned as to outcome of wealth distribution is currently sitting upon the Throne of Fed.
Is not the return of Feudalism with all it’s glorious court of maids, maidens, lords and Ladies a wonderful thing.
why do you people always have to be so dramatic. theater kids the lot of you.
Truth hurts when it gets stated so simply.
That is why I got out of Building Houses for people who at 35 years of age were still children.
Much like these times, sad to say.
There’s a fellow calls himself Frederick on these Blog pages. He should chime in why he departed the Building Business.
The Fed is independent? Very funny! It is owned by the large banks and controlled by the money center banks. It works for them and has done a great job of protecting their interests. The Fed and stable currency are a joke. Dollar has lost 90% plus of it’s value. Economic stability? I don’t think so. No one could do a worse job for the American people than the Fed
the economy has been pretty stable tbh. the most recent time it wasnt was 2008 and that was because of deregulation and bankers got greedy and moral hazard. dollar lost 90% of value? who cares? do you pine for the days when you could buy a horse for a quarter? Money is money, what’s the diff what the abstract number was 100 years ago?
I just want an America where drag shows are in gay bars not kindergartens and you can get a good gyro for $10. I guess I’m just old-fashioned.
and you immediately start slandering lgbt for no reason out of nowhere. THATS WEIRD
I can’t say that I agree totally with your approach, because it isn’t working either, but I do agree something has to change!
– The Fed is independent for a reason. It is to stop partisan nonsense. > Unfortunately it has been corrupted, and as a result it has become Independent In Name Only! The Dems have totally taken it over, obviously.
– I do not like the Fed and think we should end it, but only on the proviso the free market sets rates, not partisan hacks from either party. > While again I agree to a point, because the Fed as a corrupted institution is useless and detrimental to Our Country. However, so is a corrupted “Free Market” so to speak, in “Name Only” as well, as they control the MSM!
– One thing worse than an independent Fed is letting political parties control interest rates and money supply. > You would be hard pressed to find a truer sentence! Politicians NEVER should be in charge of Money, and/or Interest Rates. In Fact, we need to get them the hell out of the Military As Well!!!
– Trump is off in Fantasyland, again, instead of keeping on track. It’s brutal. > It’s way too early for that call. He was cooped up for a bit, so the dog had to bark, once of the leash, that a “Good Thing” for Our Country, as we need some Passion!
the Fed is anything but federal. It was born after congress left for the holidays while the bankers implemented their plan in 1913 as I recall. Look back to 2008 for the answer. From one mess to the next.
When the US was comatose until we know what we don’t about the virus JP raided bank’s accounts, short selling other people’s money, who knew nothing about it. He lent the money to Steven Mnuchin who paid the unemployed, small businesses, landlords, restaurants, shingle mums… Since we couldn’t fly, buy a house or buy a car the money stayed in the banks. JP raided again creating a tsunami of money used by Trump. It worked : SPX dropped 1,347 points and popped from the bottom 1,347 x 1.618 to 5,670.
Trump couldn’t be as stupid as Jerry Powell and the banksters.
A virus so novel that it decided to kill more 15-64 year olds in 2021 versus 2020 in the US as it became less virulent. I believe the vaccine rolled out in 2021 🤔.
Excess in 2020: 124k
Excess in 2021: 215k
A 73% increase.
Gee I wonder what happened
https://www.humanityprojects.info/scorecard.html
You’re like a broken vinyl record, give it a rest.
literally noone wants to talk or think about covid any more. 1M+ obese elderly people died, shit happens. pols tried to mitigate it as best as they could given the information at the time. it’s over, time to move on.
Some of the impulse to push the shots was to mitigate the supposed risk. The infection fatality risk of Covid Classic was 4/1,000ths of 1% among people under age 35. Less than the flu. The mandates were mostly about control (and an eventual vaccine “passport” / digital ID). This was obvious in September2021 when CDC Director Rachel Walensky admitted in testimony before the Senate that people who’d recovered from Covid already had immunity at least on par with that conferred by the “vaccines”.
The Biden Administration tried to get millions of Americans fired if they wouldn’t take the “vaccines” that were probably unnecessary for the millions who’d already recovered from Covid.
all the evidence is that vaccines worked. they eradicated small pox and reduced mortality for covid. people didnt want their elderly parents exposed to the virus from selfish weirdos. either way its over and done, why relitigate it again now? We can argue about it again when the next pandemic happens.
Trump controlling the Fed is like Erdogan controlling the Fed. No thanks. Trump had my vote in spades, but he’s forced me to hold my nose and vote for Kamala, who I believe is literally the worst leader in US history — worse than D.C. mayor Marion Barry, and that is really hard to do.
I thought you held your nose, voting for the “Best” Candidate, no matter what? That’s what I always have lived by myself.
I have never held my nose to vote for a worse candidate though, as that seems contradictory to the purpose?
You do You however…
If Trump wants to force Presidential control over interest rates, he will be the worse candidate. That’s my point.
no one controls the Federal Reserve bank but the banksters
We are doomed with these kind of idiots running for office, but who picks them? That’s right, the American idiot population. We are our biggest enemy, and the media and Deep State like it that way.
americans are idiots, immigrants are burning everything, the Deep state is “evil”, destruction bad horror. if you believe all that then why not just kill yourself? or move away? this constant negative whining from people sitting in AC with a $90K tricked out F-250 in their garage is getting wild.
Maximus, the Fed was born after the panic of 1907. Andrew Jackson killed the first central bank which was used to finance a campaign against him and his wife.
andrew jackson was not just some poor schmuck persecuted by the central bank. if he didnt like you he would shoot you in the face with a gun.
Translation: shut up and don’t complain. You’re probably too young to remember the bumper stickers “America, love it or leave it”. They were meant to shut up protesters against the Vietnam War.
and your point being???????????????
Wrong. The DNC and RNC filter candidates before we can vote for them. Honest and competent people will never again make it to office until the Federal government collapses. Don’t worry though — that will be really soon, the way things are going.
in what world in the past were candidates selected by the people? it wasnt until the 70s that popular vote primaries were made a thing. Harding was selected by the party in 1920 because he “just looks like a president”
so what was wrong was corrected except the practice of money being the determining factor in a lot or political races.
reform the supreme court and get citizens united tossed. there’s your solution
my biggest issue with candidate selection is that there are no regular people. no plumbers, nurses, or bricklayers. why does every pol have to be a lawyer or a rich businessman?
The American idiot population did NOT pick Kamala, now nor in 2020.
I agree that the four issues in the “target”: housing, inflation, immigration, economy should be his focus – with an occasional reminder she’s a San Francisco radical. One thing I find stupid is how republicans talk about inflation. They pick up on one or two commodities – gasoline, eggs, lately it’s been bacon. As though if gasoline drops to $2.99 she deserves to win. Like any politician has bought bacon lately. It’s $4 at Aldi, BTW. How about car insurance? How about rent? Gee, I wonder if letting in 10+ million illegals affects rent?
your theory is that rent is $4K/mo for a studio in LA is because mexican farmhands are bidding up the price. do you hear yourself?
You obviously don’t live in L.A., as there are about six people per studio, and most are nowhere near $4K.
correct i dont live in la but i know rents are out of this world. but i also know that rents aint high because of immigrants, its because building codes restricting new construction and multi family units, and because there are a lot of people with high salaries willing to pay higher prices to live in LA
The housing supply is inelastic because of housing codes and cost of construction, but every additional person increases demand – which works its way from the bottom up. Even at five people per unit, 15 million illegals (likely) is 3 million units. That absolutely has an effect on nationwide rents. On the other hand, wages are suppressed – which you probably think is a good thing.
Of course it has an effect, but it’s even worse, because the renters of which you speak are not paying rent, You Are! The Feds are paying the Landlords big (your) money to make up for losses. It’s a mess…
labor participation is a huge problem. too many people have no access to work either because they are on disability, or addicts or worst of all ex con, who noone will hire sadly. so if there are people who want to come to the us for grueling work that our population doesnt want to do ,then i dont see a problem with it – wish there were legal channels to do it though . of course it is business owners that benefit the most from the current system but we are not allowed to criticize those people.
Glad to hear you’re sad for the ex-cons. I’m sure they appreciate it. They could get hired if there were no illegals here.
mish i first learned and became interested in finance because of you way back in 2007 and your disgust of the fed has informed a lot of how i think about economics today, and you’ve been consistently and principally against the fed the whole time. but i think its fair to point out that the economy was much more boom and bust before the fed. i asked chatgpt to describe the worst recessions before the fed and they were brutal:
“Panic of 1837The Panic of 1837, spurred by risky lending and restrictive monetary policies, led to a severe economic downturn and ousted President Martin Van Buren due to perceived economic mismanagement.
Panic of 1857Caused by a drop in global demand and domestic overexpansion, the Panic of 1857 exacerbated economic disparities between the North and South, fueling pre-Civil War sectional tensions.
Panic of 1873The Panic of 1873, triggered by reckless railroad investments and a global slowdown, resulted in a prolonged depression and spurred the rise of the Populist movement advocating for economic reforms.
Panic of 1893The Panic of 1893, due to overextended railroads and banking failures, led to a deep economic slump and shifted political allegiances towards the silver currency movement during the 1896 election.”