Why Trump’s attacks on the Fed’s independence are so dangerous

[foragefarmer]

Trump's attack on Jimmy Kimmel backfired.

Comedians are very successful at getting under politician's skin, and Kimmel has done that to Trump.

Wasn't there someone on Agriville chirping about how bad Kimmel was, ABC doesn't seem to see it that way.

[chuckChuck]

That was the most watched late night talk show episode in recent years! And the legacy stations who boycotted it, drove their viewers to other providers!

When fellow republicans are alarmed about the erosion of free speech you know it was bad for Trump and MAGA!

"Never an assiduous student of history, Trump probably doesn’t realize that some not-too-distant episodes of political interference in Fed policy didn’t end well. After the second world war, Harry Truman’s treasury department pressured the Fed to hold down interest rates to make it easier to finance the war debt. That helped fuel double-digit inflation in the late 1940s.

Richard Nixon pressed Arthur Burns, then Federal Reserve chair, to hold down interest rates to help Nixon win re-election 1972. By doing Nixon’s bidding, Burns helped fuel a burst of late 70s inflation that caused his successor as Fed chair, Paul Volcker, to jack up interest rates to 20% to tame inflation. Those 20% rates threw the US into a deep recession. “Once Fed credibility is lost it can be costly to regain, as the depth of the Volcker recession demonstrated,” Bernanke and Yellen wrote."

[chuckChuck]

And PP "Trump lite" also said he would fire the Bank of Canada governor at one time!

The right wing wants to politicize every independent institution! Even if causes the worst runaway inflation of the 1970's and 80s!

Imagine how many farms would go bankrupt at 10% or 20% interest rates!

Tighten your belts and sharpen your pencil!

[furrowtickler]

Wow , every post this morning from Chuck about Trump again

[shtferbrains]

And PP "Trump lite" also said he would fire the Bank of Canada governor at one time!

The BOC head is a political appointment.
Trudeau installed him over the the lady that everyone expected to get the job because he knew he would provide unlimited funds for Trudeau's virtue signaling climate activism.

Of course he will loose his job when the government changes.
He's been a disaster for the economy.

[shtferbrains]

Carney announced to every grifter in the world that he will look all oppertunites to have money laundered.
He gave $60 million to Haiti, the failed state being run by street gangs.
He also gave $47 million to Gaza where Hamas runs everything and is supported by 80% of the population.

[cropgrower]

Im sure many wont like my opinion but interest shud be at least 10 % then people would be encouraged to save up and live within their means

[foragefarmer]

Im sure many wont like my opinion but interest shud be at least 10 % then people would be encouraged to save up and live within their means

There sure be a lot less farmer at 10%, many aren't living within their means, unless some of you 51st Staters move south.

[AlbertaFarmer5]

Trump's attack on Jimmy Kimmel backfired.

Comedians are very successful at getting under politician's skin, and Kimmel has done that to Trump.

Wasn't there someone on Agriville chirping about how bad Kimmel was, ABC doesn't seem to see it that way.

When you realize that some people get their "news" from late night comedians, a lot of things begin to make sense.

[foragefarmer]

When you realize that some people get their "news" from late night comedians, a lot of things begin to make sense.

I figured it out long ago that Trump turns to Kimmel for his news, good to see you've finally figured it out AB5 after 10 months.