when does yellen get the boot?

[TopSecretBoiler]

She does nothing. I mean nothing. “I would also hope that fiscal policy changes will be consistent with putting U.S. fiscal accounts on a sustainable trajectory.”
really? This is what you say after obama dumps 9T on the debt? Now we're talking about a sustainable fiscal trajectory?
Boot yellen.

 

[TheBoris]

She does nothing. I mean nothing. “I would also hope that fiscal policy changes will be consistent with putting U.S. fiscal accounts on a sustainable trajectory.”
really? This is what you say after obama dumps 9T on the debt? Now we're talking about a sustainable fiscal trajectory?
Boot yellen.

I don't disagree but with the stock market ride we've had since Nov 8th, you don't want to rock the boat. Dow Jones 30 closing in on 20,500 as I type this.

 

[TopSecretBoiler]

I don't disagree but with the stock market ride we've had since Nov 8th, you don't want to rock the boat. Dow Jones 30 closing in on 20,500 as I type this.

seems like a reason to rock the boat to me...shiller is almost up to 29. could use some downward pressure.

 

[atmafola]

She does nothing. I mean nothing. “I would also hope that fiscal policy changes will be consistent with putting U.S. fiscal accounts on a sustainable trajectory.”
really? This is what you say after obama dumps 9T on the debt? Now we're talking about a sustainable fiscal trajectory?
Boot yellen.

were you also shouting when Reagan trippled the debt, or when W doubled it. Or is Obama not even doubling it your only problem? Hypocrisy much

 

[TopSecretBoiler]

were you also shouting when Reagan trippled the debt, or when W doubled it. Or is Obama not even doubling it your only problem? Hypocrisy much

yes yes and yes. no hypocrisy on my part bubba. just on yellen's. try again.

 

[atmafola]

yes yes and yes. no hypocrisy on my part bubba. just on yellen's. try again.

even just talking economics. What does Yellen have to do fiscal policies? She doesn't set tax rates or spending levels. How is she responsible for national debt again?

 

[TopSecretBoiler]

even just talking economics. What does Yellen have to do fiscal policies?

i dont have time to educate you on this. if you dont understand the feds role in fiscal policy you need to do that research on your own.

 

[atmafola]

i dont have time to educate you on this. if you dont understand the feds role in fiscal policy you need to do that research on your own.

please give me the basics oh master. I will argue she's net positive. By keeping rates low, and the economy growing, shes increasing tax receipts, reducing tax spending on recession-generated spending, and thus reducing deficits. The ball is in your court to explain how the feds are responsible for national debts

 

[TopSecretBoiler]

please give me the basics oh master. I will argue she's net positive. By keeping rates low, and the economy growing, shes increasing tax receipts, reducing tax spending on recession-generated spending, and thus reducing deficits. The ball is in your court to explain how the feds are responsible for national debts

why is it in my court to explain that? i didnt say that. i said shes a bitchy little hypocrite for making that statement in trumps first month and should be kicked to the curb. she said nothing of the sort while lord obama burned money. why is it suddenly in her interest to have a fiscally responsible govt? i ALWAYS call for that no matter who is in charge. i support the balanced budget ammendment.

 

[atmafola]

why is it in my court to explain that? i didnt say that. i said shes a bitchy little hypocrite for making that statement in trumps first month and should be kicked to the curb. she said nothing of the sort while lord obama burned money. why is it suddenly in her interest to have a fiscally responsible govt? i ALWAYS call for that no matter who is in charge. i support the balanced budget ammendment.

wrong wrong wrong. She has been resisting call for more fiscal help for two years. and has been singnalling the end of the economy needing monetary support for a year +. Take out your partisan bias. yellen is a top notch economist. Even people who are aggressive on stimulus like Krugman are still in support of long term fiscal prudence. They are just not as wedded to it as balanced-budget hypocrites and certainly not when the economy (esp labor market) is weak. Right now, the economy is growing, labor market is all but nearly recovered, it is indeed the right time to start talking about putting long-term fiscal concerns in a sustainable trajectory. That rumbling has been going for a year plus now if you actually paid attention.
You better believe that if the economy goes south tomorrow (inflation bottoms, and unemployment starts rising sharply) regardless of who is in power, I am pretty sure Yellen will be all for fiscal and monetary supports, "deficits be damned"

and you still haven't explained how Yellen is responsible for national debt.

 

[TopSecretBoiler]

wrong wrong wrong. She has been resisting call for more fiscal help for two years. and has been singnalling the end of the economy needing monetary support for a year +. Take out your partisan bias. yellen is a top notch economist. Even people who are aggressive on stimulus like Krugman are still in support of long term fiscal prudence. They are just not as wedded to it as balanced-budget hypocrites and certainly not when the economy (esp labor market) is weak. Right now, the economy is growing, labor market is all but nearly recovered, it is indeed the right time to start talking about putting long-term fiscal concerns in a sustainable trajectory. That rumbling has been going for a year plus now if you actually paid attention.
You better believe that if the economy goes south tomorrow (inflation bottoms, and unemployment starts rising sharply) regardless of who is in power, I am pretty sure Yellen will be all for fiscal and monetary supports, "deficits be damned"

and you still haven't explained how Yellen is responsible for national debt.

If you're going to try to hang with me, you have to have a decent level of reading comprehension. Where did I say "yellen is responsible for national debt"? You're just looking silly right now because you are literally making things up. This thread is not that long and already you've convinced yourself I said something I did not. Now, think, understand, and try to come up with something on topic.

 

[Bethboilerfan]

To the people posting here: Please read how the Fed is set up. Neither the president nor the Congress can fire the Chair of the Fed even though the president appoints the Fed chair subject to the approval of the Senate. Nor can they cut off the funding of the Fed. The Fed has to be separate from politics - imagine what would happen if it weren't.

 

[TopSecretBoiler]

To the people posting here: Please read how the Fed is set up. Neither the president nor the Congress can fire the Chair of the Fed even though the president appoints the Fed chair subject to the approval of the Senate. Nor can they cut off the funding of the Fed. The Fed has to be separate from politics - imagine what would happen if it weren't.

This is somewhat true but only part of the story. The positions of the board of governors are appointed so it's not truly separate from politics. The FOMC board has vacancies and Trump could appoint more admin-friendly people there. He could make her life hell. So ya, she won't get fired in the classical sense, but if she's going to act a fool in public, he can put a lot of pressure on her in return.

 

[Bethboilerfan]

I was replying to your initial post where you said, "Boot yellan" I probably totally misread your post as I thought you meant by "Boot yellan" that Trump should/could fire her. What did you mean? That he could put pressure on her to resign? Putting pressure on her might not work as she does not have that much longer to serve and may want to finish her term.

 

[TopSecretBoiler]

I was replying to your initial post where you said, "Boot yellan" I probably totally misread your post as I thought you meant by "Boot yellan" that Trump should/could fire her. What did you mean? That he could put pressure on her to resign? Putting pressure on her might not work as she does not have that much longer to serve and may want to finish her term.

If I were prez (god forbid right?) and she was putting me on blast in the campaign and then started making public statements like this, I would destroy her. I would use whatever tools at my disposal to get her out. She clearly has no interest in working with this administration so she should leave.

 

[Bethboilerfan]

I don't know as I do not have the thick skin required of people in politics. She has less than a year to serve but will remain on the board for many more years. I don't really understand people who are into power but I suspect that nothing will get her out. It would be like trying to get rid of a Supreme Court Justice. Power must be potent as they rarely seem able to give it up.

 

[atmafola]

If you're going to try to hang with me, you have to have a decent level of reading comprehension. Where did I say "yellen is responsible for national debt"? You're just looking silly right now because you are literally making things up. This thread is not that long and already you've convinced yourself I said something I did not. Now, think, understand, and try to come up with something on topic.

if you dont understand the feds role in fiscal policy you need to do that research on your own.

your words not mine. so please explain what role feds have on fiscal policies. no long explanations needed, one sentence will suffice.

 

[miksta]

i dont have time to educate you on this. if you dont understand the feds role in fiscal policy you need to do that research on your own.

"Fiscal policy decisions are determined by the Congress and the Administration; the Federal Reserve plays no role in determining fiscal policy."

https://www.federalreserve.gov/faqs/money_12855.htm

 

[TopSecretBoiler]

I don't know as I do not have the thick skin required of people in politics. She has less than a year to serve but will remain on the board for many more years. I don't really understand people who are into power but I suspect that nothing will get her out. It would be like trying to get rid of a Supreme Court Justice. Power must be potent as they rarely seem able to give it up.

Could be. Some people are stubborn. But usually they realize they can make a lot more money with a lot less stress somewhere else.

 

[TopSecretBoiler]

your words not mine. so please explain what role feds have on fiscal policies. no long explanations needed, one sentence will suffice.

Sure. They set the federal funds rate.
Folow up:
What effect does the federal funds rate have on interest rates?
And bonus follow up:
What effect does an increased interest rate have on debt where the full interest payment and principal payment are not being payed?

 

[TopSecretBoiler]

"Fiscal policy decisions are determined by the Congress and the Administration; the Federal Reserve plays no role in determining fiscal policy."

https://www.federalreserve.gov/faqs/money_12855.htm

except that's not really true or they wouldn't have been involved in the crash. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

So...what would you call that...exactly?

feel the bern or whatever...https://www.sanders.senate.gov/newsroom/press-releases/the-fed-audit

“No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president.”

 

[miksta]

except that's not really true or they wouldn't have been involved in the crash. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

So...what would you call that...exactly?

feel the bern or whatever...https://www.sanders.senate.gov/newsroom/press-releases/the-fed-audit

“No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president.”

lol they lent money...which is part of what the Fed does. Not seeing where that pertains to taxing and spending?

If you're going to snarkily tell someone they don't understand what fiscal policy is, perhaps you should ensure you do first.

 

[atmafola]

Sure. They set the federal funds rate.
Folow up:
What effect does the federal funds rate have on interest rates?
And bonus follow up:
What effect does an increased interest rate have on debt where the full interest payment and principal payment are not being payed?

now you are floundering all over the place with your dilattantish knowledge of the issues you are trying to discuss. And the sad thing is your partisan bias prevents you from even learning.

 

[atmafola]

lol they lent money...which is part of what the Fed does. Not seeing where that pertains to taxing and spending?

If you're going to snarkily tell someone they don't understand what fiscal policy is, perhaps you should ensure you do first.

I strongly suspected the guy had no idea what he was talking about. But I like to give people benefit of doubt until their ignorance becomes self-evident and inexcusable.

 

[TopSecretBoiler]

now you are floundering all over the place with your dilattantish knowledge of the issues you are trying to discuss. And the sad thing is your partisan bias prevents you from even learning.

you are pathetic. you incorrectly assumed I was ok with runaway spending from republican presidents. Then you tried to say I said she was responsible for the national debt. Clearly never stated. But I'm floundering? Look in the mirror.

 

[TopSecretBoiler]

lol they lent money...which is part of what the Fed does. Not seeing where that pertains to taxing and spending?

If you're going to snarkily tell someone they don't understand what fiscal policy is, perhaps you should ensure you do first.

You don't think they spend money?