I was listening to AM Radio this morning and they are just one or two neurons away from putting Trump atop the reasons why the Fed increased interest rates. They appear to have the tariffs and fuel prices as the issues. They had an economist on who was doing their best to spin while being technically honest on the math of economics.
This is the
worrying part.
article said:
President Donald
Trump took to his Truth Social platform on Wednesday after the Federal Reserve agreed to a
significant increase in interest rates — demanding that they do the opposite and make a massive cut instead.
"Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR," wrote Trump.
There are two massive problems here. And while Trump BS's all the time, I think this statement is how he actually feels.
1) He seems to think the Fed sets the bond rate. While they can influence the bond rate or react to the bond market (as this hike was designed), the Fed doesn't set the bond rates. That'd be the free market. Nations and massive banking institutions. Not understanding this is quite dangerous because...
2) Trump's entire business philosophy is about debt. He has killed every company with it. Junk bonds are his type of bonds and he wants to issue more US debt to... I'm not certain what. It isn't like he has a grand vision of expanding US *insert something*. He just wants the status quo with cheaper debt. Doesn't want to control spending. Doesn't want to aim spending towards a particular aim. He just wants cheaper debt so he can have more debt. He is leading America down the same path he led his casinos down. Utter ruin.
article said:
"Our Country is BOOMING with new Investment! If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year."
JFCoaS! This, to me, is impeachable. Or at least a sign that Trump should be kept to the side putting gold leaf up in the White House while the adults do the work. Of course, Treasury Secretary Bessant seems to have a forward outline on finances that goes out roughly 2 or 3 decades ago. Canadian PM Carney is out trying to figure out how to expand Canada quickly and is developing the plans for raising capital, making stronger alliances with allies and not so allies in order to reduce Canadian reliance on the US, all in a very short period of time. Bessant... just keeps saying things used to work so... *profit*
Trump is showing a shockingly ignorant understanding of trade. And no one is stopping him. This is why interest rates are going up, despite the GDP not. Stagflation anyone?
article said:
"The word 'Deficit' is nothing more than a fancy word for LOSS," Trump continued. "We are 'carrying' almost every country in the World, and that cannot go on any longer. LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST!"
So his solution is to make US debt cheaper... so the US can... *profit*.
35% of the nation approves of this nonsense.