(Putting this here because I get 502 errors in the Administration thread.)
Buried in among all the other crises from the end of the week is this one: Trump is mad about the market correction and wants to fire the chairman of the Federal Reserve. That he nominated, mind you.
On the one hand, Trump does not have the legal authority to fire Powell without cause.
But on the other hand, he could probably scrawl a memo in crayon saying the cause is “because Mr Money guy is a big fat poopy face” and Whitaker would go ahead and rubber stamp it. This would then lead to a court case (or possibly more, because there are grave legal doubts about whether Whitaker can actually act as AG, given he was appointed to, y’know, obstruct justice.)
Doing this would also cause the markets to melt. Which is interesting, because this could in theory prove to be the red line for some Republicans in Congress that makes them finally turn. Their billionaire overlords might be content to see the US government go down in flames … but not be willing to let Trump’s fecklessness take their fortunes down with it.
… Oh who am I kidding? Republican Congressmen have no will of their own. Trump has infected them like that fungus that takes over ants.
The only area that Trump hasn’t damaged with his criminality and incompetence is the monetary field, so he may as well destroy that, too. It’s what the great people in the heartland voted for.
I’m so delighted that we spent eight painstaking years piecing the economy back together after the Republicans drove it off the cliff only to turn around and hand them back the keys once things were looking pretty good, all things considered.
It’s no secret that Trump is an imbecile utterly incapable of running the country but we’ve been relatively lucky that he was handed the reins when things were stable and running smoothly. I feel like 2019 is going to be a very bad year.
Yeah, seems pretty relevant to me. This bear market is directly related to the tariffs and other similar shenanigans. Plus, we’re not allowed to make new topics here until we see a 502.
A recession is when your neighbor loses his job ," Reagan said during the 1980 presidential campaign. "A depression is when you lose yours. And recovery is when Jimmy Carter Donald Trumps loses his.
American farmers are facing the “imminent collapse” of key markets and fear uneven trade playing fields as Australian, Canadian and other rival nations take advantage of the soon-to-be implemented Trans-Pacific Partnership.
After President Donald Trump withdrew the US from the TPP on just his third day in the White House in 2017, the States will be left on the sidelines when the re-shaped TPP-11 comes into effect 12am on Sunday AEDT.
Australia, Canada, Japan, Mexico, New Zealand and Singapore were the first nations to ratify the agreement, formally titled the Comprehensive and Progressive Agreement. Vietnam, Chile, Brunei, Peru and Malaysia are set to follow in coming months
US farmers, already hit hard by Trump’s tariff battle with China and the lack of a free trade agreement with Japan, are bracing to immediately lose market share.
