President Joe Biden forgets he already shook Senator Chuck...

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ProfessorBen

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07/07/24

21:48

Post #: 74645738
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Originally posted by kacy: ↑

"Well, Biden said only the lord almighty can make him drop out."

That's because he is making too much money from rigging the market and being a big time arms dealer.

Biden must be putting pressure on the fed to cut rates and that's why Powell is flip-flopping again. On Tuesday Powell said rate cuts are coming and the market rallied. On Wednesday he said he will only cut rates if inflation gets to the 2% target - which pulled the market back a bit. The bond market has been going crazy too.

Biden want's Powell to cut rates so he can con the public into believing he has delivered a soft landing. But the reality is Powell cant cut rates under these conditions, because the banks will stop buying gov bonds and will become bond sellers because they believe (know) inflation will take off again. Since no one else is buying the bonds, that would send the gov broke. So, Powell can only cut rates if the banks (i.e. the bond market) believe a recession is guaranteed.

A recession would happen instantly if Biden stops palming out millions of public service jobs like confetti (see my post above). But how is Biden going to get re-elected if unemployment goes up and the Sahm Rule is triggered? So, it looks like checkmate game over for Biden?

There is another problem - once the fed cuts rates it is committed to go all the way to zero - which will require a big crisis and QE to move the gov's massive debt pile into the fed. This is because the US gov will go broke if the banks stop buying the bonds and they will do that if inflation (and rates) turn around and go back up. This is a huge risk with Russia controlling so much oil supply.

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President Joe Biden forgets he already shook Senator Chuck Schumer's hand (youtube.com)

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President Joe Biden forgets he already shook Senator Chuck...

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President Joe Biden forgets he already shook Senator Chuck...

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