It might take a minute, but sometime in the near future you will come to the realization the content you've followed is a bit fantastical and sensationalized.
There is virtually no difference between modern fed chairs, they all have the same goals/mandates, prevent recessions/plunge protection team, that's about it. If/when there is any real economic calamity, you will see that.
"A war between davos and the fed"...sounds like a dark fuckin Bond movie. To take LIBOR to SOFR and get all that you've interpreted from it is just being played. I will bump this thread in the next 6-12 months or so when the fed pivots and you are left wondering "Wait what, why are they cutting rates? I thought Powell wanted to decimate regional banks and the Euro banking system, huh?"
Sheriff Joe? Is that you?
jesus RT....If the fed wanted to fix the imbalances in the banking system/economy and was completely fine with some short-term pain to go with it (I'd argue this can't be done w/ just short-term pain but that's discussion for another time), they wouldn't have been a fucking year behind the inflation curve when it came to finally raising in early '22.
If you wanna put your faith in bureaucrats then so be it tho.....Goldwater rolling over in his grave my man.
done playing for now I guess, when he pivots and does everything he can to prevent economic calamity because that is all he cares about, I'll be bumping the thread and you will be capitulating on your stance. Sure, that isn't much but it is the poli forum in 2023, we don't got much else here.
Glad you've found a hero to believe in though, that's pretty cool even if it is a central banker
if there is any type of mass contagion in the banking sector, you best believe the fed will be working frantically with .gov to prop it up as best they can. He ain't throwing JoeyB under the bus for the long-term good of the country
Glad you've found a hero to believe in though, that's pretty cool even if it is a central banker
if there is any type of mass contagion in the banking sector, you best believe the fed will be working frantically with .gov to prop it up as best they can. He ain't throwing JoeyB under the bus for the long-term good of the country
at this point you're just regurgitating garbage talking points with absolutely no clue what you're talking about. Your probably think this is QE and you still wouldn't be able to explain how it's QE without injecting additional liquidity into the market.
you dismissing the importance of LIBOR to SOFR tells me your limited understanding of the markets and interest rates and, with that, control of the world's money. I gave you my list in detail of what would need to happen for me to be wrong. I am in no way saying I'm 100% correct which is why i'm totally fine being wrong but, for all of us, right now pray that Powell is the great savior of America. It ain't fn Trump....he's the Antichrist or just a remarkable grifter, not sure which
what else you want from me? you asked for a list of what will prove i'm wrong and i laid it out. you asked for the thought leaders i follow which i offered up via DM and you ignored. You are king troll right now. you know it, I know it. It's fine, happens on every forum. You see you're swimming in the deep end so need to resort to troll tactics because you can't really grasp what's happening, or at least my version. Yet everything that happened this week fits perfectly into the scenario.
European Central Banks just increased interest rates 3% IN A DAY and you believe that's completely normal. just business as usual.
btw enjoy JuJu, dude is a piece of shit
lol, he's been a think tank fellow and has worked for the fed for over a decade
Jerome Powell - Wikipedia
In 2008, Powell became a managing partner of the Global Environment Fund, a private equity and venture capital firm that invests in sustainable energy.[32]
Between 2010 and 2012, Powell was a visiting scholar at the Bipartisan Policy Center, a think tank in Washington, D.C., where he worked on getting Congress to raise the United States debt ceiling during the United States debt-ceiling crisis of 2011. Powell presented the implications to the economy and interest rates of a default or a delay in raising the debt ceiling.[31] He worked for a salary of $1 per year.[33]
In December 2011, along with Jeremy C. Stein, Powell was nominated to the Federal Reserve Board of Governors by President Barack Obama.
I'll go with bureaucrat, think most would agree
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at this point you're just regurgitating garbage talking points with absolutely no clue what you're talking about. Your probably think this is QE and you still wouldn't be able to explain how it's QE without injecting additional liquidity into the market.
you dismissing the importance of LIBOR to SOFR tells me your limited understanding of the markets and interest rates and, with that, control of the world's money. I gave you my list in detail of what would need to happen for me to be wrong. I am in no way saying I'm 100% correct which is why i'm totally fine being wrong but, for all of us, right now pray that Powell is the great savior of America. It ain't fn Trump....he's the Antichrist or just a remarkable grifter, not sure which
what else you want from me? you asked for a list of what will prove i'm wrong and i laid it out. you asked for the thought leaders i follow which i offered up via DM and you ignored. You are king troll right now. you know it, I know it. It's fine, happens on every forum. You see you're swimming in the deep end so need to resort to troll tactics because you can't really grasp what's happening, or at least my version. Yet everything that happened this week fits perfectly into the scenario.
European Central Banks just increased interest rates 3% IN A DAY and you believe that's completely normal. just business as usual.
btw enjoy JuJu, dude is a piece of shit
Time will do its thing, not too much more to say. My explanation isn't going to change your opinion, time will. A year goes by, two years and you'll view this the same way you viewed your foray into Q, a waste of time where you got a bit carried away with some half truths combined with some leaps that felt convenient to believe.
You're just spewing nonsense now, I didn't call it QE (although QE is always around the corner with the fed) and I didn't dismiss the importance of LIBOR, I just said you're putting a fantastical spin on the transition.
I dunno why you can't post citation/sources here? No one is reading this.
All good either way
well you conveniently left out the part where he was a long-time investment banker and then a partner at the world's largest private equity firm. well done, Pats.lol, he's been a think tank fellow and has worked for the fed for over a decade
Jerome Powell - Wikipedia
en.wikipedia.org
In 2008, Powell became a managing partner of the Global Environment Fund, a private equity and venture capital firm that invests in sustainable energy.[32]
Between 2010 and 2012, Powell was a visiting scholar at the Bipartisan Policy Center, a think tank in Washington, D.C., where he worked on getting Congress to raise the United States debt ceiling during the United States debt-ceiling crisis of 2011. Powell presented the implications to the economy and interest rates of a default or a delay in raising the debt ceiling.[31] He worked for a salary of $1 per year.[33]
In December 2011, along with Jeremy C. Stein, Powell was nominated to the Federal Reserve Board of Governors by President Barack Obama.
now that you realize his extensive private sector experience please show me the extensive private sector experience of Yellen and Bernanke. this will be a blank response btw
ECB didn't raise rates 3% in a day either, not sure what you are speaking of. They raised rates .5% which had been forecasted for awhile now. Like I said, there isn't much I can say besides point to the clock.
edit: umm I linked his wiki, that shows his entire resume, I showed "since 2008", obviously he didn't just get out of college then, jesus christ you are grasping RT...but c'mon, he's been a gov busy body for awhile now. Yes, I know he once worked in private equity.
edit: umm I linked his wiki, that shows his entire resume, I showed "since 2008", obviously he didn't just get out of college then, jesus christ you are grasping RT...but c'mon, he's been a gov busy body for awhile now. Yes, I know he once worked in private equity.
Decent listen from some VCs in SV who were at ground zero of SVB collapse. They go into how spread the issue might be, it is pretty dry but maybe a few people will want to listen.
I have no opinion about how widespread the issue is, after 13 years of QE/ZIRP, there are all sorts of imbalances in the economy (RE, stocks, tech, bonds, crypto) so if/when something reaches a tipping point I try to be measured about.
Got fucking crushed on my oil holdings last 2 weeks because of this though, so hope it quickly reverses.
"The 25 biggest US banks gained $120 billion in deposits in the days after SVB collapsed. All the banks below that level lost $108 billion over the same period. It was the largest weekly decline in smaller banks’ deposits in dollar terms on record." - WSJ
You think that means anything to what you said? That is some incredible dot connecting.
It is comical how little you know about this topic. Can you do me a favor though? Bump this thread when the fed pivots (happening sooner than later) and be man enough to accept the fact you have no clue what you're talking about.
It doesn't even seem like you know why SVB failed or why there is stress in the banking system.....It has nothing to do with "cheap money lent to risky ventures", it has to do with the rapid changing of interest rates and their purchasing of t-bills. Some incompetence for sure, but still not really anything you seem aware of from reading through the thread.
The irony here? Donald Trump, who you despise and clown regularly, has a far better understanding of this issue than you do.
Everything rolltide is saying is some fantasy that he got from some people that are apparently decently persuasive (combined with him being very gullible) but LOL @ the idea Powell would want to "crush" regional banks. Regional banks are massively instrumental in the economy, they hold something like 70% of commercial RE loans, 50% of residential, 50% of biz loans....He wants to engineer a crash in this because..... (insert the word davos, it sounds cool)
gee golly I'm onto the scent and the rest of y'all are stuck in the R v D paradigm - Rolltide....dude, whatever netflix show you're getting this stuff from deserves an emmy, story makes no sense but sounds captivating as hell
gee golly I'm onto the scent and the rest of y'all are stuck in the R v D paradigm - Rolltide....dude, whatever netflix show you're getting this stuff from deserves an emmy, story makes no sense but sounds captivating as hell
despise? nah, thought he was a good prez for 3 years and a horrible one for 1 and continues to make himself a clown shilling for boosters but he was best prez of my lifetime for 1000 days and then the Uniparty's cuck for the rest of the term.
and he's the guy that showed Powell down Congress' throats to get into this position. Powell is his boy and everything he does is aligned with Trump's agenda. The Fed finally becoming the Central Bank of the USA and not the Central Bank of the world is as MAGA as it gets
