Trump Putting US Currency & Financial System In Serious Risk

[imnotyourbabe10 6,120]

It's something every day with this "president".

OP: Thank you for sharing this.  It's a sector I'm not familiar with and should be! (More social science oriented, here...and this stuff is relevant to that as well!)

 

[Eighteen 5,430]

the tide of facism is slowly rolling in. 

[Economy 53,076]

1 minute ago, Eighteen said:

the tide of facism is slowly rolling in. 

While I always hated Trump from the Beggining, at first I thought comments like "he's a dictator" were exaggerations from his opposers

 

But now I see I was wrong and they were on to something. He has an attitude of wanting to control everything and oversteps his authority all the time

 

A president is not a king or a dictator. There are many things that are not his to govern or within his jurisdiction... Why can't he accept that?

 

And this isn't even a grey area. It's extremely well established that the Fed is to operate seperately from the Government to avoid politics swaying important decisions they must make

 

Getting monetary policy right is very important to keep things stable and politics hinders their ability to do things properly. Most Nations recognize this that's why the Majority of the Nations world wide have the same policy to not interfere with the decisions of their Central Bank

 

It's a sacred rule most governments world wide have come to respect. The central bank comitees are the experts on controlling interest rates and money supply and know just how much the economy needs at any given time to keep inflation and the financial system stable

 

But no, Trump just has to go and attack and like a child throw tantrums when he doesn't agree with the Federal Reserve

 

ITS NOT HIS PLACE!!!!!

[Eighteen 5,430]

3 minutes ago, Economy said:

While I always hated Trump from the Beggining, at first I thought comments like "he's a dictator" were exaggerations from his opposers

 

But now I see I was wrong and they were on to something. He has an attitude of wanting to control everything and oversteps his authority all the time

 

A president is not a king or a dictator. There are many things that are not his to govern or within his jurisdiction... Why can't he accept that?

 

And this isn't even a grey area. It's extremely well established that the Fed is to operate seperately from the Government to avoid politics swaying important decisions they must make

 

Getting monetary policy right is very important to keep things stable and politics hinders their ability to do things properly. Most Nations recognize this that's why the Majority of the Nations world wide have the same policy to not interfere with the decisions of their Central Bank

 

It's a sacred rule most governments world wide have come to respect. The central bank comitees are the experts on controlling interest rates and money supply and know just how much the economy needs at any given time to keep inflation and the financial system stable

 

But no, Trump just has to go and attack and like a child throw tantrums when he doesn't agree with the Federal Reserve

 

ITS NOT HIS PLACE!!!!!

i agree. i don't think any of us thought that what's happening and what continues to happen was even possible even a few years ago. but US democracy really is changing and all of donald trump's terrible policies aside (which are pretty much "normal" republican positions in general), they pale in comparison to his erosion of democratic institutions and norms. 

[PartySick 174,145]

9 hours ago, ltlmnstr said:

This is one of my worst fears. Can you imagine $5 gallon of milk?

With a $7.25 minimum wage. Gotta love Republican economic policies.

[Economy 53,076]

Just now, Eighteen said:

i agree. i don't think any of us thought that what's happening and what continues to happen was even possible even a few years ago. but US democracy really is changing and all of donald trump's terrible policies aside (which are pretty much "normal" republican positions in general), they pale in comparison to his erosion of democratic institutions and norms. 

I also can't stand his hypocracy. Before he was elected he constantly criticized the Fed for keeping rates too low and Inflating bubbles for short term gain. Now that he's president and they raise rates suddenly he's against it. As if we forgot he had the exact opposite position just 3 years ago

 

Also what ever happened to $20 Trillion in debt and it's a problem etc? Now he's running deficits like no one ever has outside of a recession. He's slowly bankrupting America and the debt used to be one of his biggest criticizing points

 

He just lies so much and contradicts himself so much when convinient. It's actually infuriating and I don't even live in America and he pisses me off

[Economy 53,076]

Just now, PartySick said:

With a $7.25 minimum wage. Gotta love Republican economic policies.

Are u talking about the minimum wage as the policy or the fed policy that would bring inflation?

 

Cuz the latter isn't a republican policy, it's a Trump policy that he isn't even supposed to have

[Eighteen 5,430]

3 minutes ago, Economy said:

I also can't stand his hypocracy. Before he was elected he constantly criticized the Fed for keeping rates too low and Inflating bubbles for short term gain. Now that he's president and they raise rates suddenly he's against it. As if we forgot he had the exact opposite position just 3 years ago

 

Also what ever happened to $20 Trillion in debt and it's a problem etc? Now he's running deficits like no one ever has outside of a recession. He's slowly bankrupting America and the debt used to be one of his biggest criticizing points 

 

He just lies so much and contradicts himself so much when convinient. It's actually infuriating and I don't even live in America and he pisses me off

not to mention republicans made so much noise regarding the rising deficit and debt. but now not so much as a peep. lol #USpolitics

[PartySick 174,145]

2 minutes ago, Economy said:

Are u talking about the minimum wage as the policy or the fed policy that would bring inflation?

 

Cuz the latter isn't a republican policy, it's a Trump policy that he isn't even supposed to have

Just as a general fact. Wages are low, Trump and the GOP are driving the cost of living sky high while stripping necessary programs from the poorest people.

I don't think it's a surprise that Trump's ego and sh*t financial sense will ruin us.

[Economy 53,076]

Just now, PartySick said:

Just as a general fact. Wages are low, Trump and the GOP are driving the cost of living sky high while stripping necessary programs from the poorest people.

I don't think it's a surprise that Trump's ego and sh*t financial sense will ruin us.

I agree the federal minimum wage is pitifully low. It should be at least $11/h in my opinion (and more in states with higher cost of living like NY and California). What's the minimum wage there?

 

Here in Canada we don't really talk about the National minimum wage. I think we have one but pretty much all the Provinces have it set higher so it ends up not being a thing we talk about nationally. It's more of an individual province issue

 

Many provinces are making plans to raise minimum wage to $15/h (Alberta already has)... That's equivalent to about $12/h in US dollars

[Economy 53,076]

3 minutes ago, Eighteen said:

not to mention republicans made so much noise regarding the rising deficit and debt. but now not so much as a peep. lol #USpolitics

I know

 

Here in Canada the Liberals the Centre Wing party (we have 3 main parties, a left, centre and right) have the worst track record for deficits

 

In Ontario the biggest province after 15 years of liberal rule the province is completely drowning in debt (most Indebted Sub-Sovereign Jurisdiction in the world)

 

And Federally we ran surpluses for 18 years and only went to deficit when the recession came. The budget was almost balanced again as as soon as Trudeau and Liberals won they went back to deficit and he promised only 4 years of deficits at $10 Billion max. It's been almost 4 years and the deficit is $20 Billion and there's no longer a plan to eliminate it

 

$20 Billion is still a small deficit on the grand scheme of things but the point is Trudeau lied and the Liberals ruined and almost balanced budget

[PartySick 174,145]

8 minutes ago, Economy said:

I agree the federal minimum wage is pitifully low. It should be at least $11/h in my opinion (and more in states with higher cost of living like NY and California). What's the minimum wage there?

 

Here in Canada we don't really talk about the National minimum wage. I think we have one but pretty much all the Provinces have it set higher so it ends up not being a thing we talk about nationally. It's more of an individual province issue

 

Many provinces are making plans to raise minimum wage to $15/h (Alberta already has)... That's equivalent to about $12/h in US dollars

It's $11 in both NY and Cali. Here in Florida it just tot raised to $8.49 but prices everywhere are climbing faster than the 25 cents a year the minimum wage is being raised.

Add in Trump and the GOP trying (and usually succeeding) to slash education budgets, welfare, medicare, medicaid, social security, food assistance, etc and people can't even scrape by. How can they expect people to get ahead? The answer: they don't. Keep 'em dumb and desperate and you solidify a future for people like Trump and the establishment GOP.

[Economy 53,076]

Just now, PartySick said:

It's $11 in both NY and Cali. Here in Florida it just tot raised to $8.49 but prices everywhere are climbing faster than the 25 cents a year the minimum wage is being raised.

Add in Trump and the GOP trying (and usually succeeding) to slash education budgets, welfare, medicare, medicaid, social security, food assistance, etc and people can't even scrape by. How can they expect people to get ahead? The answer: they don't. Keep 'em dumb and desperate and you solidify a future for people like Trump and the establishment GOP.

Yeah that's insane

 

While I am not a supporter of high minimum wages because of the impact on business hiring, competitiveness, investment and inflation...

 

A minimum wage that's too low is also destructive there needs to be a balance

 

The $8.49 in Florida is definitely too low

 

[PartySick 174,145]

30 minutes ago, Economy said:

The $8.49 in Florida is definitely too low

About a 6th of my paycheck is taken out in taxes (I don't have any dependants or write offs), even though I make more than minimum wage we'll just use that as the standard.

$8.49 an hour, even with a full time job (30 hours in Florida) means you earn about $846 a month, $10,272 a year. That's ignoring the fact that a lot of "starter jobs" would rather hire a ton of employees and give them each 10-20 hours a week max than have stable full time workers. Hell, the company I'm currently a manager with expects me to share 113 hours between nine different employees but somehow keep everyone happy and willing to retain employment. I constantly go over hours and they take their money back out of my annual sales bonus and paid vacation time if I can't come in under hours the following week which is why I'm going today to see about a much better job.

None of this is sustainable. Low wages, allowing companies to be cheap on hours but pay CEO's millions/billions, allowing benefits to be cut in exchange for higher wages, it's all sh*tty and ridiculous.

I think I may be derailing your thread a bit though, apologies.

[Economy 53,076]

5 minutes ago, PartySick said:

About a 6th of my paycheck is taken out in taxes (I don't have any dependants or write offs), even though I make more than minimum wage we'll just use that as the standard.

$8.49 an hour, even with a full time job (30 hours in Florida) means you earn about $846 a month, $10,272 a year. That's ignoring the fact that a lot of "starter jobs" would rather hire a ton of employees and give them each 10-20 hours a week max than have stable full time workers. Hell, the company I'm currently a manager with expects me to share 113 hours between nine different employees but somehow keep everyone happy and willing to retain employment. I constantly go over hours and they take their money back out of my annual sales bonus and paid vacation time if I can't come in under hours the following week which is why I'm going today to see about a much better job.

None of this is sustainable. Low wages, allowing companies to be cheap on hours but pay CEO's millions/billions, allowing benefits to be cut in exchange for higher wages, it's all sh*tty and ridiculous.

I think I may be derailing your thread a bit though, apologies.

Good jobs are hard to come by tbh

 

I get $18/h and overtime (which goes to $27/h for the overtime hours)

 

Not terrible. Only it's a tough construction type job that should be at least $22/h based on average salaries for the industry in my province but my boss is cheap