He's not an idiot. He knows exactly what the consequences of his actions are. He lowered interest rates at a time that they normally wouldn't purely to help the Biden administration, and now they're doing the opposite to Trump because they want to hurt his administration.
Chris Martenson at Peak Prosperity likes to call Powell and Yellen "monetary vandals."
Honestly i think it’s far more nefarious than this. The fact is this is just a precursor of the massive housing surplus that will happen when boomers start passing away. Those 1 million dollar (overvalued) homes won’t sell and this will be used used as an excuse to mass immigrate again and those immigrants will receive low interest loans from the government to buy houses and “save” the market. Create the crisis and sell the solution.
The last time we gave browns mortgages to buy houses resulted in the Global Financial Crisis of 2008. Those toxic loans are still on the Fed's books, despite then-Chairman Ben Bernanke promising it's a "temporary" emergency measure and it would be sold on the open market "eventually".
He's not an idiot. He knows exactly what the consequences of his actions are. He lowered interest rates at a time that they normally wouldn't purely to help the Biden administration, and now they're doing the opposite to Trump because they want to hurt his administration.
Chris Martenson at Peak Prosperity likes to call Powell and Yellen "monetary vandals."
I think it's an apt description.
Honestly i think it’s far more nefarious than this. The fact is this is just a precursor of the massive housing surplus that will happen when boomers start passing away. Those 1 million dollar (overvalued) homes won’t sell and this will be used used as an excuse to mass immigrate again and those immigrants will receive low interest loans from the government to buy houses and “save” the market. Create the crisis and sell the solution.
The last time we gave browns mortgages to buy houses resulted in the Global Financial Crisis of 2008. Those toxic loans are still on the Fed's books, despite then-Chairman Ben Bernanke promising it's a "temporary" emergency measure and it would be sold on the open market "eventually".