| Trumpenomics 08:48 - May 19 with 1341 views | nrb1985 |
You have to laugh really.
Comes in telling the world he's going to bring interest rates down to help his base.
Cue enacting a raft of textbook inflationary policies and receiving a rating downgrade on Friday.
30yr treasury through 5% this morning and 10yr back above 4.5%.
Sure we'll hear lots this week about how it's Powell or Biden's fault... [Post edited 19 May 9:35]
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| Trumpenomics on 09:02 - May 19 with 1271 views | EuanTown |
What I would say is that trump will be in the news everyday this week, like he has been everyday since his election. Maybe not for what we think he will be. More left field policies and statements to throw the world into more chaos and confusion. As the only way to maintain control is to keep the opposition guessing and off guard. |  | | |
| Trumpenomics on 09:15 - May 19 with 1232 views | nrb1985 |
| Trumpenomics on 09:02 - May 19 by EuanTown |
What I would say is that trump will be in the news everyday this week, like he has been everyday since his election. Maybe not for what we think he will be. More left field policies and statements to throw the world into more chaos and confusion. As the only way to maintain control is to keep the opposition guessing and off guard. |
"As the only way to maintain control is to keep the opposition guessing and off guard"
Great way to run a sports team, not a great way to run an economy. We have seen first hand here, post-Brexit, what uncertainty does for business and inward investment. [Post edited 19 May 10:29]
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| Trumpenomics on 09:15 - May 19 with 1227 views | SuperKieranMcKenna |
Even he realises it’s bullsh1t, which is why he keeps launching attacks on the Fed. When they are left with no room to drop rates he’ll tell his base it’s the Fed working against the people (or similar rubbish), and try and take control. Hopefully the checks and balances can prevent this, as there would be real world consequences outside the US.
Both the hard left and hard right in the UK would like to get rid of the BoE’s independence too so they can push through ideology driven monetary policy. | | | |
| Trumpenomics on 09:20 - May 19 with 1212 views | nrb1985 |
| Trumpenomics on 09:15 - May 19 by SuperKieranMcKenna |
Even he realises it’s bullsh1t, which is why he keeps launching attacks on the Fed. When they are left with no room to drop rates he’ll tell his base it’s the Fed working against the people (or similar rubbish), and try and take control. Hopefully the checks and balances can prevent this, as there would be real world consequences outside the US.
Both the hard left and hard right in the UK would like to get rid of the BoE’s independence too so they can push through ideology driven monetary policy. |
To the credit of most of the hard left and right in this country (I say credit with a bad taste in my mouth), I haven't really seen anybody seriously suggesting the BoE should lose their independence? | | | |
| Trumpenomics on 10:03 - May 19 with 1110 views | SuperKieranMcKenna |
| Trumpenomics on 09:20 - May 19 by nrb1985 |
To the credit of most of the hard left and right in this country (I say credit with a bad taste in my mouth), I haven't really seen anybody seriously suggesting the BoE should lose their independence? |
I’ve seen it on here on occasion. Usually some argument that they are working to whatever benefits the banks. However, given the Fed have to work against Trump policies, and the BoE had to work against Truss (two fairly hardened capitalists- albeit incompetent), it’s fairly obvious the Central Banks are impartial. | | | |
| Trumpenomics on 10:28 - May 19 with 1069 views | nrb1985 |
| Trumpenomics on 10:03 - May 19 by SuperKieranMcKenna |
I’ve seen it on here on occasion. Usually some argument that they are working to whatever benefits the banks. However, given the Fed have to work against Trump policies, and the BoE had to work against Truss (two fairly hardened capitalists- albeit incompetent), it’s fairly obvious the Central Banks are impartial. |
Indeed.
In the U.S. as long as Bessent is around I think he keeps a lid on the really mad stuff. Trump did row back quite quickly on firing Powell once the loss of independence narrative gathered pace on the back that.
I can easily see a scenario though whereby Bessent leaves at some point, fed up of all the tomfoolery. Then all bets would be off. [Post edited 19 May 10:29]
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| Trumpenomics on 11:49 - May 19 with 937 views | Pinewoodblue |
| Trumpenomics on 10:28 - May 19 by nrb1985 |
Indeed.
In the U.S. as long as Bessent is around I think he keeps a lid on the really mad stuff. Trump did row back quite quickly on firing Powell once the loss of independence narrative gathered pace on the back that.
I can easily see a scenario though whereby Bessent leaves at some point, fed up of all the tomfoolery. Then all bets would be off. [Post edited 19 May 10:29]
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Bessent made a comment over the weekend warning Countries, when negotiating over tariffs, to do so in good faith, as if anyone could trust Trump not to do 180 degree turn. |  |
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| Trumpenomics on 11:52 - May 19 with 928 views | bournemouthblue |
Newsnight suggested a while ago that he would use tariffs to shrink the US economy to make their exports more attractive overseas
The economy was actually doing alright under Biden but the public weren't necessarily feeling those benefits |  |
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| Trumpenomics on 12:00 - May 19 with 914 views | nrb1985 |
| Trumpenomics on 11:49 - May 19 by Pinewoodblue |
Bessent made a comment over the weekend warning Countries, when negotiating over tariffs, to do so in good faith, as if anyone could trust Trump not to do 180 degree turn. |
Tbf - in Trump v.1 China bought considerably less from the U.S. than they had agreed to in the trade deal they signed in 2018.
I assume that's what their intention will be to do again, given Trump has mid terms in 18 months and only 3.5 years overall.
This is one of the issues when you try to negotiate with country that was a 400 year time horizon and an administration that has a 4 year one.
But as you say, a bit rich coming from a Trump... | | | |
| Trumpenomics on 12:02 - May 19 with 908 views | SuperKieranMcKenna |
| Trumpenomics on 11:52 - May 19 by bournemouthblue |
Newsnight suggested a while ago that he would use tariffs to shrink the US economy to make their exports more attractive overseas
The economy was actually doing alright under Biden but the public weren't necessarily feeling those benefits |
Yeah he’s done a good job of weakening the Dollar, however any export benefit of that will be cancelled out by reciprocal tariffs.
Plus the cost of a product/service is only one facet of exports, there are plenty of non-tariff barriers. Regulatory wise he won’t get around local regs (think safety features of cars, capital requirements in FS etc). | | | |
| Trumpenomics on 16:51 - May 19 with 746 views | ArnoldMoorhen |
| Trumpenomics on 09:20 - May 19 by nrb1985 |
To the credit of most of the hard left and right in this country (I say credit with a bad taste in my mouth), I haven't really seen anybody seriously suggesting the BoE should lose their independence? |
Phrases like "Hard Right" are ambiguous and mean different things to different people.
Jacob Rees Mogg, and those aligned with him, have certainly questioned the continuing independence of the Bank of England in setting monetary policy for the UK:
https://www.theguardian.com/business/article/2024/may/13/jacob-rees-mogg-accuses | | | |
| Trumpenomics on 18:51 - May 19 with 673 views | nrb1985 |
You could loosely file him, Truss and their followers under "lunatic fringe" rather than hard right. | | | |
| Trumpenomics on 20:37 - May 19 with 561 views | reusersfreekicks |
| Trumpenomics on 09:20 - May 19 by nrb1985 |
To the credit of most of the hard left and right in this country (I say credit with a bad taste in my mouth), I haven't really seen anybody seriously suggesting the BoE should lose their independence? |
Hard left!
Hilarious |  | | |
| Trumpenomics on 09:53 - May 20 with 327 views | ArnoldMoorhen |
| Trumpenomics on 18:51 - May 19 by nrb1985 |
You could loosely file him, Truss and their followers under "lunatic fringe" rather than hard right. |
Truss was Prime Minister and Rees-Mogg was Business Secretary, so we need to drop the "fringe", too.
Real power in the hands of sociopathic ideologues. Extreme "Market forces: good, Government involvement: bad" ideologues, who, if not racists themselves, we're happy to exploit division over immigration for their own ends, rather than work towards constructive solutions to underlying issues causing tensions between communities.
Because "Government shouldn't intervene" or because "Don't like Brown people"? Who knows?!? But the net result was the same. | | | |
| Trumpenomics on 12:20 - May 20 with 271 views | SuperKieranMcKenna |
| Trumpenomics on 09:53 - May 20 by ArnoldMoorhen |
Truss was Prime Minister and Rees-Mogg was Business Secretary, so we need to drop the "fringe", too.
Real power in the hands of sociopathic ideologues. Extreme "Market forces: good, Government involvement: bad" ideologues, who, if not racists themselves, we're happy to exploit division over immigration for their own ends, rather than work towards constructive solutions to underlying issues causing tensions between communities.
Because "Government shouldn't intervene" or because "Don't like Brown people"? Who knows?!? But the net result was the same. |
“ Market forces: good”
That’s is the exact opposite of Trump, and Truss however. It was the sovereign debt market reaction that led to her downfall. Likewise Trump has now overseen the US lose its top tier Sovereign rating. These are populists who give little thought to market forces. | | | |
| Trumpenomics on 12:34 - May 20 with 254 views | ArnoldMoorhen |
| Trumpenomics on 12:20 - May 20 by SuperKieranMcKenna |
“ Market forces: good”
That’s is the exact opposite of Trump, and Truss however. It was the sovereign debt market reaction that led to her downfall. Likewise Trump has now overseen the US lose its top tier Sovereign rating. These are populists who give little thought to market forces. |
Truss' line is that it was "the Establishment" rigging the bond markets that brought her down. She believes the markets wouldn't have behaved that way without Establishment intervention.
I'm not saying I agree with her on that (!) but she is part of the Rees-Mogg "Disaster Capitalism" club. | | | |
| Trumpenomics on 12:49 - May 20 with 236 views | SuperKieranMcKenna |
| Trumpenomics on 12:34 - May 20 by ArnoldMoorhen |
Truss' line is that it was "the Establishment" rigging the bond markets that brought her down. She believes the markets wouldn't have behaved that way without Establishment intervention.
I'm not saying I agree with her on that (!) but she is part of the Rees-Mogg "Disaster Capitalism" club. |
Right which is why she’s part of the populist club with Trump, perhaps a demagogue. She’s stupid, but not so terminally thick that she believes the UK ‘establishment’ influences the international sovereign debt markets. She just thought she was smarter than she is.
Same with Trump he knew the markets wouldn’t find his plans credible - he’ll just blame the downgrade on something Biden did years ago! | | | |
| Trumpenomics on 14:43 - May 20 with 164 views | nrb1985 |
| Trumpenomics on 12:49 - May 20 by SuperKieranMcKenna |
Right which is why she’s part of the populist club with Trump, perhaps a demagogue. She’s stupid, but not so terminally thick that she believes the UK ‘establishment’ influences the international sovereign debt markets. She just thought she was smarter than she is.
Same with Trump he knew the markets wouldn’t find his plans credible - he’ll just blame the downgrade on something Biden did years ago! |
"She’s stupid, but not so terminally thick that she believes the UK ‘establishment’ influences the international sovereign debt markets"
I'd probably challenge this!
I'm still not quite sure why she blames the BoE for what happened but I'm fairly confident she doesn't blame herself. | | | |
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