Luke Posted January 22 Posted January 22 14 minutes ago, Gregmal said: Nah. Didn’t we just have the guys and the media backers who lied for months in late 2020 about “Trump pardoning his family”….lose what little credibility there was left? At this point we can admit this is what government is, and stop with the illusions that it’s these benevolent “public servants”. America has full disclosure, every man for himself…. Yeah there is some truth to that. Democrats where smarter in hiding their shenanigans.
cubsfan Posted January 22 Posted January 22 1 hour ago, Luke said: RFK JR was good to get them into power mate, now trump can do what he wants who cares. That the top mag 7 ceos sit next to the trump family while politicians sit further back tells you everything that is going to happen. It was never BETTER to go long mag 7 than it is now, very ironic. Just be alligned with the present billionaires and who have good relations with trump. Zuckerberg already bowing to the master Wrong - all it tells you is that the Woke Reign of Terror is over.
Dalal.Holdings Posted January 22 Posted January 22 1 hour ago, Junior R said: Trump picked Openai and not Xai...How long before Trump and Elon have issues? lol Weird because that’s not how an Oligarchy is supposed to work. I guess Bernie lied…
Dalal.Holdings Posted January 22 Posted January 22 4 hours ago, cubsfan said: So funny, no wonder all the tech bros are running to kiss his ass now. Amazing that Free Speech has become a foreign concept to many people, especially some of the “highly educated”
Gregmal Posted January 22 Posted January 22 The best is yet to come and that’s Jerome Powells exit. It’s great knowing that elitist piece of shit who spends his time obsessing over guessing what other people think of irrelevant crap like “his credibility” and chasing stupid academic theories at the expensive of the average Americans food and shelter costs is gonna be packing his bags next year.
Sweet Posted January 22 Posted January 22 I take a different view, I actually think Powell has been a very very good Fed chairman.
Gregmal Posted January 22 Posted January 22 (edited) What exactly is he doing right now then? Besides fabricating future inflation based on theory? Cuz what he’s done was make an early “transitory” call, then cave after a year and call transitory supply chain driven covid inflation entrenched and “sticky”; fabricate some wage price spiral nonsense that never occurred, and then completely miss that while at 2-3% CPI, that the predominant source of the remaining inflation, housing, was his fault…..total idiot. Edited January 22 by Gregmal
Blake Hampton Posted January 22 Posted January 22 53 minutes ago, Gregmal said: The best is yet to come and that’s Jerome Powells exit. It’s great knowing that elitist piece of shit who spends his time obsessing over guessing what other people think of irrelevant crap like “his credibility” and chasing stupid academic theories at the expensive of the average Americans food and shelter costs is gonna be packing his bags next year. Powell saved our economy from what was almost the worst credit crisis in U.S. history. He’s a hero who doesn’t get the respect that he deserves.
Sweet Posted January 22 Posted January 22 (edited) 13 minutes ago, Gregmal said: What exactly is he doing right now then? Besides fabricating future inflation based on theory? Cuz what he’s done was make an early “transitory” call, then cave after a year and call transitory supply chain driven covid inflation entrenched and “sticky”; fabricate some wage price spiral nonsense that never occurred, and then completely miss that while at 2-3% CPI, that the predominant source of the remaining inflation, housing, was his fault…..total idiot. He had three major challenges and IMO he did a great job on two of them and a good job on one. Great: Covid-19. SVB fallout. Good: Inflation, though in hindsight should have raised earlier. Edited January 22 by Sweet
Gregmal Posted January 22 Posted January 22 11 minutes ago, Blake Hampton said: Powell saved our economy from what was almost the worst credit crisis in U.S. history. He’s a hero who doesn’t get the respect that he deserves. Which credit crisis was that? Only one I’m aware of was the one he caused by forcing banks to hold certain securities, then stress testing them and saying all good, and then recklessly jacking up rates more than 2x his own stress test scenarios in a matter of mere months solely because he was concerned about a few hedge fund guys attacking his credibility.
LC Posted January 22 Posted January 22 2 minutes ago, Sweet said: Great: Covid-19. SVB fallout. Good: Inflation, though in hindsight should have raised earlier. I agree with this. I think he could've lowered earlier too, but being like 3-6 months late to the party is not a knock against him. Frankly you could argue he took an appropriately conservative path. Right from wikipedia, his job is to: Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates 4.1% unemployment is pretty freaking low. Inflation reads have stabilized. The 10-year is pretty moderate at 4.6% and he has been lowering. Not sure what more I can expect from the guy.
Gregmal Posted January 22 Posted January 22 6 minutes ago, Sweet said: He had three major challenges and IMO he did a great job on two of them and a good job on one. Great: Covid-19. SVB fallout. Good: Inflation, though in hindsight should have raised earlier. Covid great, sure. SVB he caused. And inflation he totally overreacted to and chased his tail. It was transitory all along he just got the timeline wrong. Same timeline a bunch of us here accurately predicted almost to the month. Now he’s just chasing things that don’t exist.
Blake Hampton Posted January 22 Posted January 22 I strongly believe that we’re living in a period of unprecedented disinformation and madness. There are so many people that have shunned reputable institutions, and in turn, have started to believe the most wild things they can find on the internet. People don’t read books, they don’t read newspapers, they don’t consume anything that’s outside of mainstream TikTok, Facebook, TV trash. We have markets that are at their most expensive point in history, a government whose economics are massively unsustainable, a public that couldn’t get any dumber, and a president who has somehow found a way. Thanks for reading my daily rant.
Blake Hampton Posted January 22 Posted January 22 9 minutes ago, Gregmal said: Which credit crisis was that? Only one I’m aware of was the one he caused by forcing banks to hold certain securities, then stress testing them and saying all good, and then recklessly jacking up rates more than 2x his own stress test scenarios in a matter of mere months solely because he was concerned about a few hedge fund guys attacking his credibility. The one in 2020 where the treasury market almost broke. How is it Powell’s fault that Congress could never get control of their budget, so now we’re in a situation where the Treasury market is fucked. Or how is it his fault that so many companies completely rely on debt markets for short-term liquidity. He is simply one man, against seemingly the entire world, who was in-effect trying to save it. I believe that he did an outstanding job, and I think the future problem will be that nobody noticed.
cubsfan Posted January 22 Posted January 22 14 minutes ago, Blake Hampton said: I strongly believe that we’re living in a period of unprecedented disinformation and madness. There are so many people that have shunned reputable institutions, and in turn, have started to believe the most wild things they can find on the internet. People don’t read books, they don’t read newspapers, they don’t consume anything that’s outside of mainstream TikTok, Facebook, TV trash. We have markets that are at their most expensive point in history, a government whose economics are massively unsustainable, a public that couldn’t get any dumber, and a president who has somehow found a way. Thanks for reading my daily rant. I would expect that attitude from a federal employee that just lost an election - sour grapes that the populist is in charge now. You're definitely an elitist snob.
Gregmal Posted January 22 Posted January 22 6 minutes ago, Blake Hampton said: The one in 2020 where the treasury market almost broke. How is it Powell’s fault that Congress could never get control of their budget, so now we’re in a situation where the Treasury market is fucked. Or how is it his fault that so many companies completely rely on debt markets for short-term liquidity. He is simply one man, against seemingly the entire world, who was in-effect trying to save it. I believe that he did an outstanding job, and I think the future problem will be that nobody noticed. So we can agree he handled Covid well. What he’s done since then is poor, but even if we disagree on that, what he’s doing now is inexcusable. Let go of your 15 minutes Fauci 2.0. There’s no inflation right now, and hasn’t been for a while. Strip out housing and derivatives of it and we might even be negative. There’s zero excuse for mortgages to still be 7-8% when the dominating issue for most, especially lower and middle income, is housing costs. Instead he’s jawboning about credibility and literally making up stuff about future inflation occurring.
Blake Hampton Posted January 22 Posted January 22 2 minutes ago, Gregmal said: So we can agree he handled Covid well. What he’s done since then is poor, but even if we disagree on that, what he’s doing now is inexcusable. Let go of your 15 minutes Fauci 2.0. There’s no inflation right now, and hasn’t been for a while. Strip out housing and derivatives of it and we might even be negative. There’s zero excuse for mortgages to still be 7-8% when the dominating issue for most, especially lower and middle income, is housing costs. Instead he’s jawboning about credibility and literally making up stuff about future inflation occurring. I don’t know everything there is to know about being a Fed Chair. But I would assume it’s very difficult to manage interest rate policy considering how it lags. When inflation is rising at 9% YOY, I don’t think they can just offer everyone hope that it’ll go back down. Price stability is literally one their mandates, they have to act.
Blake Hampton Posted January 22 Posted January 22 (edited) 12 minutes ago, cubsfan said: I would expect that attitude from a federal employee that just lost an election - sour grapes that the populist is in charge now. You're definitely an elitist snob. Maybe. But you’re definitely not looking at this situation by the actual figures. Edited January 22 by Blake Hampton
thepupil Posted January 22 Posted January 22 2 minutes ago, Gregmal said: So we can agree he handled Covid well. What he’s done since then is poor, but even if we disagree on that, what he’s doing now is inexcusable. Let go of your 15 minutes Fauci 2.0. There’s no inflation right now, and hasn’t been for a while. Strip out housing and derivatives of it and we might even be negative. There’s zero excuse for mortgages to still be 7-8% when the dominating issue for most, especially lower and middle income, is housing costs. Instead he’s jawboning about credibility and literally making up stuff about future inflation occurring. Powell can't (completely) control the 10 year or MBS spreads though. Do you think he should halt the run-off and purchase MBS in our current economy? Or should ST rates be lower in hopes that 10 yr rates go down and MBS spreads tighten? I am actually impressed with how well housing's held up in the context of 7% rates. Feels like Powell doing what is long term healthy without much short term pain. Of course, I say this from a position of privilege w/ my circa 2021 2 7/8% mtg.
cubsfan Posted January 22 Posted January 22 (edited) 11 minutes ago, Blake Hampton said: Maybe. But you’re definitely not looking at this situation by the actual figures. We know how much smarter you are than the working man & woman. With you in charge, we'll go back to Biden's censorship regime and continue to rig elections to quash their vote. Edited January 22 by cubsfan
Gregmal Posted January 22 Posted January 22 2 minutes ago, thepupil said: Powell can't (completely) control the 10 year or MBS spreads though. Do you think he should halt the run-off and purchase MBS in our current economy? Or should ST rates be lower in hopes that 10 yr rates go down and MBS spreads tighten? I am actually impressed with how well housing's held up in the context of 7% rates. Feels like Powell doing what is long term healthy without much short term pain. Of course, I say this from a position of privilege w/ my circa 2021 2 7/8% mtg. If he’s concerned with housing costs and “the common man” which was the whole argument for this little ruse then yea you could halt runoff or even resume. You have how many hundreds of economists getting paid billions at the Fed to come up with these solutions and all we re getting is…what we re getting lol? So sure you and I are fine. I’m probably buying another house this year and have over 7 figures of sub 4% 30 years as well…but for regular folks or especially the younger part of the workforce? How long do they need to go through this freeze out caused by some guy chasing academic theory and invisible boogeymen? Rents should’ve and would’ve collapsed at the rate they were building a few years ago. How many people are in starter homes that can’t sell them because even just replacing that home would cost 2x, let alone upsizing? Of course building solves this, but all his handwaving(for credibility points) also allowed everyone to reposition, so again, how long is it fair to put a very large percentage of the workforces lives on hold…so some elitist can feel good about his “credibility”?
thepupil Posted January 22 Posted January 22 i guess, I think younger people should just rent if the math doesn't make sense at current rates... I don't have an answer, but the alternative to what he's doing is not obvious to me.
Blake Hampton Posted January 22 Posted January 22 4 minutes ago, Gregmal said: If he’s concerned with housing costs and “the common man” which was the whole argument for this little ruse then yea you could halt runoff or even resume. You have how many hundreds of economists getting paid billions at the Fed to come up with these solutions and all we re getting is…what we re getting lol? So sure you and I are fine. I’m probably buying another house this year and have over 7 figures of sub 4% 30 years as well…but for regular folks or especially the younger part of the workforce? How long do they need to go through this freeze out caused by some guy chasing academic theory and invisible boogeymen? Rents should’ve and would’ve collapsed at the rate they were building a few years ago. How many people are in starter homes that can’t sell them because even just replacing that home would cost 2x, let alone upsizing? Of course building solves this, but all his handwaving(for credibility points) also allowed everyone to reposition, so again, how long is it fair to put a very large percentage of the workforces lives on hold…so some elitist can feel good about his “credibility”? What do you think about a decrease in prices?
Grenville Posted January 22 Posted January 22 31 minutes ago, cubsfan said: I would expect that attitude from a federal employee that just lost an election - sour grapes that the populist is in charge now. You're definitely an elitist snob. hmm it seems everyone else has a moniker your giving them, what’s yours?
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