Trump Tweets Federal Reserve Chairmen are “Boneheads”

September 11, 2019 1:00 pm EDT Tiff Trump Tweets (Open Thread) 1
Trump Tweets Logo. Image by Lenny Ghoul.

It’s Wednesday.

Today is September 11th, 2019.

I have to confess I’m struggling today to frame this article, to be frank, I went from we can for today ignore President Trump’s Tweets, to don’t be silly back to we can for today remember what it felt like to watch as those towers fell. What it was like to come together as a nation and rally around the families of those that fell, our first responders that gave all to save strangers.

What it felt like to grieve together as a nation.

But, in truth, I think it’s wrong to ignore the tweets, even on this day of remembrance.

So, in this thread, it will be a mixed bag, of just another day covering Trump Tweets, and a remembrance of the day that will live in our hearts forever.

#NeverForget.

So far for 9-11-2019 the President has tweeted 8 times.

On Wednesday China’s Foreign Ministry announced in a statement that they exempted 16 types of U.S. goods from additional tariffs, for some products they also announced they would be refunding the already paid tariffs.

For the commodities listed in Listing 1, from September 17, 2019 to September 16, 2020 (one year), the tariffs imposed on the anti-US 301 measures will no longer be imposed. The tariffs already imposed shall be refunded, and the relevant importing enterprises shall apply to the Customs within 6 months from the date of publication of the exclusion list.

For the commodities listed in Listing 2, from September 17, 2019 to September 16, 2020 (one year), the tariffs imposed on the anti-US 301 measures will not be added. 
The tariffs already imposed are not refundable.

China Foreign Minister Statement.

The first batch of commodities total 12, while the second bath includes 4 commodities, as is noted, the second batch products are not refundable.

CNBC News published the list translated from Chinese as follows:

List 1.

1. Other shrimp and prawn seedlings.

2. Aster meal and pellets.

3. Other purpura (except coarse powder and pellets).

4. Fish meal for feed.

5. Lubricating oil.

6. Grease.

7. Ring line, insecticidal ring, insecticidal nail, polythiane, etc. (including methylthiophosphorus, buprofezin, aspartate, indoxacarb).

8. Decitabine, fluorouridine, cyclophosphamide, gefitinib, capecitabine, raltitrexed, fludarabine phosphate, fluoride, cytarabine hydrochloride, gemcitabine hydrochloride, ectinib hydrochloride, ifosfamide.

9. Nonionic Organic Surfactant.

10. Mineral oil <70% lubricant.

11. Lubricants containing no petroleum or oils from bituminous minerals.

12. Medical linear accelerator.

List 2.

1. Whey for feed (2%-7% by weight protein, 76%-88% lactose).

2. Release agent (oil by weight and oil extracted from bitumen ≥70%).

3. Isoparaffin solvent (early boiling point 225 ° C, flash point 92 ° C, density 0.79 g / cm3, viscosity 3.57mm2/s).

4. Lubricating base oil (product viscosity at 100 degrees Celsius)

Axios explains that the tariff exemption list comes just a week after the U.S. and the Chinese government agreed to restart the stalled trade war talks in D.C., in early October.

The photo was taken 9-11-18 from Shanksville, PA, by New York Times photographer Doug Mills.

According to the article published by the New York Times it was President Trump’s first visit to Shanksville, PA, were passengers on Flight 93, stormed the cockpit and thwarted the terrorists who had hijacked their plane.

All aboard perished.

The Federal Reserve should get our interest rates down to ZERO or less.

Politico explains that the U.S., has never taken the step to go negative as we’ve seen in Japan and some Europeans nations.

As they note, a move to lower to zero, or “less” than zero, would exhaust the tools the Federal Reserve would have to fight a future recession.

David Wessel, the director of Hutchins Center on Fiscal and Monetary Policy told the Washington Post, that what the President is calling for is what is essentially emergency monetary measures.

The president is calling for what essentially are emergency monetary policy measures at a time when unemployment is at a 50-year low, the U.S. economy is doing better than its peers and is still growing

Wessel, via Washington Post.

We should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN…

CNBC News explains that this is a new request not seen before in his attacks on the Federal Reserve.

They go on to say that currently the “U.S. has $22.5 trillion in debt, $16.7 trillion of which is held by the public,” adding, “That debt load has grown $2.6 trillion, or 13% under Trump, due in part to the 2017 tax cut that the president shepherded through Congress. Taxpayers have shelled out $538.6 billion in interest costs in the 2019 fiscal year, easily a record.”

Mark Zandi, a chief economist for Moody’s Analytics, told CNBC News, that the idea of refinancing our debt, is not viable, and that it could lead to significant problems within the financial markets. He also notes that the debt is not prepayable, as the debt is not a mortgage loan.

It’s not viable and could be a significant problem for investors, financial markets and ultimately the economy. The debt is not prepayable. There’s a contractual relationship the Treasury has with investors. This isn’t a mortgage, this is U.S. Treasury debt. I think it would be incredibly disruptive to financial markets, and interest rates would ultimately rise, not fall.

Zandi via CNBC News.

As a reminder on September 8th, 2019, the President shared what we call a “propaganda” video, calling August’s Jobs Report, “record setting.”

From the August Jobs Report.

Total nonfarm payroll employment rose by 130,000 in August, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment in federal government rose, largely reflecting the hiring of temporary workers for the 2020 Census. Notable job gains also occurred in health care and financial activities, while mining lost jobs.

Jobs Report 9/6/19 for August.

Among the major worker groups, the unemployment rates for adult men (3.4 percent), adult women (3.3 percent), teenagers (12.6 percent), Whites (3.4 percent), Blacks (5.5 percent), Asians (2.8 percent),
and Hispanics (4.2 percent) showed little or no change in August. (See tables A-1, A-2, and A-3.)

Jobs Report 9/6/19 for August.

Jobs Report from August 2018.

Total nonfarm payroll employment increased by 201,000 in August, and the unemployment rate was unchanged at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, wholesale trade, transportation and warehousing, and mining

Jobs Report 9/7/18 for August 2018.

Among the major worker groups, the unemployment rates for adult men (3.5 percent), adult women (3.6 percent), teenagers (12.8 percent), Whites (3.4 percent), Blacks (6.3 percent), Asians (3.0 percent), and Hispanics (4.7 percent) showed little or no change in August. (See tables A-1, A-2, and A 3.)

Jobs Report 9/7/18 for August 2018.

“Boneheads.”

Federal Reserve Chairman Jerome Powell, was confirmed by the Senate on 1/23/2018, with 84 senators voting yea, 13 nay’s, and 3 not voting. President Trump officially nominated Powell on 11/2/17 according to the White House website.

Richard Clarida Vice Chair, was appointed according to the Federal Reserve Bio’s page, on Sept. 17, 2018, to fill an unexpired term that ends on January 31st, 2022. The White House notes that the President officially announced Clarida, on April 16th, 2019.

Randal Quarles according to the New York Times article published on July 10th, 2017, is the first person to serve as Vice Chairman for Supervision, a post created by Congress after the financial crisis.

On October 5th, 2017 the Senate confirmed Quarles, according to the New York Times, 65 to 32.

Boneheads indeed…

For What It’s Worth.

The Federal Reserve Bank’s next meeting is scheduled for Sept., 17th and 18th.

I would be leading the “Partners” of the LameStream Media by 20 points. Sorry, but true!

On the 18th anniversary of 9-11, I present the President of the United States of America.

This post will be updated within reason.

This is an Open Thread.

About the opinions in this article…

Any opinions expressed in this article are the opinions of the author and do not necessarily reflect the opinions of this website or of the other authors/contributors who write for it.

About Tiff 2997 Articles
Member of the Free Press who is politically homeless and a political junkie.

1 Trackback / Pingback

  1. Trump Tweets: The Misquoted Rep. Al Green Edition

Comments are closed.