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Discussion and Debate
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Politics
American Politics
Tax-cut Boom -- Trump & GOP were right, Democrats and media flat wrong
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<blockquote data-quote="jayem" data-source="post: 74585913" data-attributes="member: 8344"><p>Donald Trump gets 10% of the credit for the thriving economy. Which he inherited from Pres. Obama. Who (along with Congress) get 40% of the credit for the stimulus measures passed in 2008-2009. Back when bipartisanship was still possible. But 50% of the credit belongs to Ben Bernanke, Janet Yellen, and the Fed, for keeping interest rates vanishingly low.</p><p></p><p>BTW, Trump has hinted that the Fed should consider negative interest rates. Which means that instead of the bank paying you interest on money you’ve deposited, you pay interest to the bank. It would be sort of a fee for holding your money. The thinking is that this is an incentive to spend money, rather than save. Which acts as a further economic stimulus. (Especially when you spend your money at Trump resorts and casinos. <img src="http://www.maritime-sda-online.com/forums/images/graemlins/default/thumbsup.gif" class="smilie" loading="lazy" alt=":oldthumbsup:" title="Old Thumbsup :oldthumbsup:" data-shortname=":oldthumbsup:" />) Anyone really this is a sound financial measure?</p><p></p><p>Edited to add: Forgot to post a link.</p><p></p><p><a href="https://www.marketwatch.com/amp/story/guid/40367696-D485-11E9-8D76-5B5A03976EA7" target="_blank">Trump tweets support for negative interest rates - MarketWatch</a></p></blockquote><p></p>
[QUOTE="jayem, post: 74585913, member: 8344"] Donald Trump gets 10% of the credit for the thriving economy. Which he inherited from Pres. Obama. Who (along with Congress) get 40% of the credit for the stimulus measures passed in 2008-2009. Back when bipartisanship was still possible. But 50% of the credit belongs to Ben Bernanke, Janet Yellen, and the Fed, for keeping interest rates vanishingly low. BTW, Trump has hinted that the Fed should consider negative interest rates. Which means that instead of the bank paying you interest on money you’ve deposited, you pay interest to the bank. It would be sort of a fee for holding your money. The thinking is that this is an incentive to spend money, rather than save. Which acts as a further economic stimulus. (Especially when you spend your money at Trump resorts and casinos. :oldthumbsup:) Anyone really this is a sound financial measure? Edited to add: Forgot to post a link. [URL="https://www.marketwatch.com/amp/story/guid/40367696-D485-11E9-8D76-5B5A03976EA7"]Trump tweets support for negative interest rates - MarketWatch[/URL] [/QUOTE]
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Tax-cut Boom -- Trump & GOP were right, Democrats and media flat wrong
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