My friend Scott chimes in thusly… “Oh, nice post this morning, all I can say and ever say is what Pete Townsend so accurately wrote in Won’t Get Fooled Again: “meet the new boss, same as the old boss””
The man who made a career leveraging daddy’s seed money, gaming the business bankruptcy system (6 times) and a whole lot of debt to become a well known Tabloid and Reality TeeVee star now wants the Federal Reserve to “get our interest rates down to ZERO” so that the Fed can finish exterminating whatever Trump voters it did not kill during the previous run of ZIRP.
Worse, this clown is haranguing Jerome Powell for potentially negative interest rates. He is actually demanding the Fed put the final nail in the coffin of his own hard working, paycheck-to-paycheck earning base in a final extermination of the saver and non-investor/asset owner class.
…and this (Investing.com is no longer badgering about my ad blocker, so I am using their data again).
Long-term yields continue to bounce (thus far that’s all it is, although it’s helped my T bond short positions) and the Yield Curve has recovered from inversion. Ha ha ha, the public will think it is all fine now because the public was too busy getting negatively titillated by the media’s obsession with the doom of the inversion when it is the turn to steepening that is the actual problem. So far it’s just a bounce back, but something about that post-FOMC curve cliff dive felt like an ending move to me and could have been the ‘!’ at the end of the flattener.
Anyway, baby Trump whines and cries to a bunch of doofuses in his base on Twitter about how we too should join the likes of the ECB in completely folding up the tent of responsible finance. “We have the great currency, power and balance sheet” after all. Power? Maybe we can nuke rates back in line with the rest of inflating world. ‘We have the power to kill interest rates 100 times over!’ thinks this president. He is basically saying ‘let’s take a lurch toward banana republic territory; what can it hurt?’.
All about asset appreciation, eh Donny? Kick the can, man. He is imploring the Fed to do exactly what it did under the Obama administration. As I recall on the campaign trail his mug was all over the TeeVee talking about the unsustainable debt. So what is the lie this time? Then or now? Or does he just lie as the winds blow?
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