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TRUMP says he isn't going to fire Fed Chair Powell
Posted by: samintx
Date: October 11, 2018 11:06AM
Can he? Ambiguously written in the law but 45 wouldn't care anyway. He can brag about unemployment but not the economy even is the Stock Market comes back. People, IMO, are going to be on edge.

45 uses the stock market as a barometer on how smart he isOld Fogette

45 just said he knew more than the Fed. RollingEyesSmiley5



Edited 2 time(s). Last edit at 10/11/2018 12:38PM by samintx.
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: NewtonMP2100
Date: October 11, 2018 11:11AM
....he is trigger happy.....towards everything.....



____________________________________________________

I reject your reality and substitute my own!
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: Lemon Drop
Date: October 11, 2018 12:05PM
Yes he can fire the Fed chair. But he won't. The Fed is helping him be popular and successful as Prez. The Senate has to confirm new hires and they want people who will contain inflation, which is what the Fed is (wisely) doing.

Trumps wants everyone to hang on to his everyday manufactured hysteria. It drives his popularity and makes it all the more likely that he'll be re-elected in 2020, which I believe now is likely to happen.

The stock market is fine. Dow is up 13% for the past 12 months even after this very minor downturn.
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: samintx
Date: October 11, 2018 01:55PM
Wish I could see your “very minor turndown”, Lemon Drop.
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: Lux Interior
Date: October 11, 2018 02:06PM
Quote
samintx
Wish I could see your “very minor turndown”, Lemon Drop.

Yeah. This is a pretty good correction.

But it will bounce back. No underlying defects like in 2007.
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: Lemon Drop
Date: October 11, 2018 02:27PM
A "correction" would mean a 10 percentage point drop (or more) from a recent high. By my math the market is down 5.5% over the past 5 days. Does somebody have a different number I could sure be wrong.

We did have a real correction in February. Nobody died. We'll see where we end today but we're still up a good bit for the past 12 months.

Have to take the long view, short term worry about the stock market is pointless.
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: rjmacs
Date: October 11, 2018 03:03PM
Quote
Lemon Drop
We did have a real correction in February. Nobody died. We'll see where we end today but we're still up a good bit for the past 12 months.

I'm honestly not trying to be glib, so please understand that I understand that you meant that February's correction was not catastrophic - my comments aren't a criticism aimed at you so much as a reminder to myself in public.

I try to remember that when the system we live in/under experiences losses (e.g., February's correction), the consequences are material and unequally distributed. I'm not a big fan of causal arrows, but the impacts of a correction don't stay inside 401Ks and pension funds. Salaries tighten, needed bonuses are skipped, benefits promised are withheld, etc. As a consequence, rent might be missed, an insurance payment can bounce, a high co-pay is too much for the family budget, and a prescription goes unfilled. People did die, but they weren't noticed by me. I was insulated from the shock by my privilege(s), earned and unearned alike.

OK - don't want to be preachy. I'm sorry if I was anyway; please let me know.



rj
AKA
Vreemac, Moth of the Future
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: Lemon Drop
Date: October 11, 2018 03:39PM
Quote
rjmacs
Quote
Lemon Drop
We did have a real correction in February. Nobody died. We'll see where we end today but we're still up a good bit for the past 12 months.

I'm honestly not trying to be glib, so please understand that I understand that you meant that February's correction was not catastrophic - my comments aren't a criticism aimed at you so much as a reminder to myself in public.

I try to remember that when the system we live in/under experiences losses (e.g., February's correction), the consequences are material and unequally distributed. I'm not a big fan of causal arrows, but the impacts of a correction don't stay inside 401Ks and pension funds. Salaries tighten, needed bonuses are skipped, benefits promised are withheld, etc. As a consequence, rent might be missed, an insurance payment can bounce, a high co-pay is too much for the family budget, and a prescription goes unfilled. People did die, but they weren't noticed by me. I was insulated from the shock by my privilege(s), earned and unearned alike.

OK - don't want to be preachy. I'm sorry if I was anyway; please let me know.


Sorry but I don't agree with the lines you're drawing from routine, mild swings in the stock market to those types of life events. People who have their salary or bonus tied to their company's stock performance are generally very well off. If a person lives on their 401K for regular income and has that much of it in volatile stocks they are asking for trouble and don't understand investing.

In a normal economy there is a stock market correction about once a year. It is part of the normal business cycle. Because our economy has not been "normal" over the past few years we have not had as many corrections so people seem to have forgotten that they are not that big of a deal. They typically swing back fairly quickly and do no long term harm. In fact, corrections can be beneficial to overheated markets. They also provide the buying opportunities that make the stock market more profitable for smaller investors.

I'm not talking about a crash like in 2008/2009, I'm talking about events like what happened in 2018.

Maybe this will help to educate and soothe nerves?
[www.fool.com]
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: rjmacs
Date: October 11, 2018 05:02PM
Okay! Thanks for the info - I appreciate it.



rj
AKA
Vreemac, Moth of the Future
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: Ombligo
Date: October 11, 2018 06:40PM
I'll take a major downturn for the next six weeks if it gets people to vote against the party in power.

(then it can rebound regardless of who wins)



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: TRUMP says he isn't going to fire Fed Chair Powell
Posted by: max
Date: October 13, 2018 03:47PM
Quote
Lemon Drop
Yes he can fire the Fed chair. But he won't. The Fed is helping him be popular and successful as Prez. The Senate has to confirm new hires and they want people who will contain inflation, which is what the Fed is (wisely) doing.

Trumps wants everyone to hang on to his everyday manufactured hysteria. It drives his popularity and makes it all the more likely that he'll be re-elected in 2020, which I believe now is likely to happen.

The stock market is fine. Dow is up 13% for the past 12 months even after this very minor downturn.


Wow! You too are starting to see the sparks of understanding....
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