Paul Krugman, he of the Nobel prize in Economics fame, has pegged Moore as a veritable idiot and liar. This is not a good appointment, yet true to form for Trump.
Wingnut welfare strikes again…
This guy is the epitome of a Kochsucker…
A friend of Laffer and FOX commentator, good choice for Trump, he found another useless hack…
In the 2014 Kansas City Star opinion piece “What’s the matter with Paul Krugman?” Moore responded to Krugman’s opinion piece “Charlatans, Cranks and Kansas.”[14][15] Moore claimed that job creation had been superior in low-taxation states during the five years ending June 2009 following the recession. ***After substantial factual errors were uncovered in Moore’s opinion piece, the Kansas City Star indicated that it would no longer print Moore’s work without “thorough factchecking.”[16][17] Miriam Pepper, editor of the Kansas City Star, decided to stop publishing Moore’s work for its inaccurate statements.***[18] Jonathan Chait, in his New York magazine column, in response to Moore’s February 15, 2015 Washington Times column on Obamacare, stated, “Perhaps the most revealing aspect of Moore’s column is the fact that, five years after its [Obamacare’s] passage, the chief economist of the most influential conservative think tank in the United States [the Heritage Foundation] lacks even a passing familiarity with its [Obamacare’s] fiscal objectives.”
https://en.wikipedia.org/wiki/Stephen_Moore_(writer)
In case anyone missed it, the 3-month - 10 year spread just inverted…
The party is over…
And Krugman is 110% right. But the Republican senate will waive him through. And the really horrible thing is that in 2016 the democrats lost several senate seats because moderate voters thought Clinton would win, and wanted a check on her, so voted for republican senatorial candidates as a check on her. Absent that, we would have the senate (or would have had it in 2017-19)
Robert Reich must be ROTFLHAO. The word idiot really pegs Moore especially when I’ve seen Moore and Reich debate.
The dumbfuckery is strong in this one!
The Fed is the most consequential financial institution in this country. It’s been run extremely well since the 1980’s. Stephen Moore is a trickle down chuckle head.
The others on the Board of Governors are at minimum a few steps shy of being asshat tools. Love to be a fly on the wall in each of their offices right now. This would be like the locker room of the New England Patriots shortly after they were all informed Johnny Manziel was coming aboard as quarterback.
This man is former head of the Club for Growth and a longtime core Koch seminar member. He has. I thing to do with Trump’s popular appeal. He is an ultra free market billionaire server.
Greenspan had his moments, but on the whole, I would rate him below average. He had the easiest time of it and all kinds of room with interest rates when there was a crises (Asia currency, latin america debt). Compare that to Volcker and Bernanke.
You could argue that Bernanke saved the world from financial collapse…
I much prefer it when Trump is screwing over his base. These destroyers of worlds are a real downer.
I’m an economic dunce (among other dunceitudes) but I’m puzzling it out from context that this is bad news for the future economy.
When the yield curve inverts (short money is more expensive than long term) it signifies a recession is in the cards. It is also a major sell signal for the stockmarket.
The last time the 3m-10y inverted was in 2007…
Click on max, shaded areas are recessions…
The corporate bond sector has also been flashing warning signs…
Yeah, considered a signal of recession.
see here (sorry, there is a silly autoplay video on the link)
An inverted yield curve is an interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the same credit quality. This type of yield curve is the rarest of the three main curve types and is considered to be a predictor of economic recession.
… An inverted yield curve is sometimes referred to as a negative yield curve…
Historically, inversions of the yield curve have preceded many of the
U.S. recessions. Due to this historical correlation, the yield curve is
often seen as an accurate forecast of the turning points of the
business cycle. …
Well, thanks, both of you. I know we’re said to be overdue for a recession. Torn between the political effects and my own desire to eat and have a roof over my head.
Eating? That’s for losers!
Seriously, in the political sense, what are the odds Faux & Cheetolini will blame Nancy Pelosi?
I take it as good news, assuming that the credit markets don’t go completely south, the lag time is about 6 months for the recession to hit and it will deny Trump the one thing he has going for him, a strong economy, into the 2020 election cycle…
Start taking any stock profits in your 401-K/IRA and depending on your Tax situation, in any taxable account. You are going to start hearing again the phrase “Cash is King” over the next while…
Was Jim Cramer not available?
(I understand Crazy Eddie is looking for a new gig.)