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re: CPI comes in hotter than expected, futures down 1%+
Posted on 4/10/24 at 2:47 pm to SquatchDawg
Posted on 4/10/24 at 2:47 pm to SquatchDawg
quote:
Everyone knows what has to happen. Powell needs to hold firm on rates (if not push higher) and Congress needs to be put on the spot to do something about debt. It’s not going to happen though until there’s blood in the streets.
If Powell cuts into this inflationary environment just so we can afford the interest on our debt I’ll be seriously worried about what comes next.
I agree. It is kind of frightening how little ability there is in Washington to cut spending. We have outspent ourselves into a corner, and yet voters keep sending people to Washington that will push us deeper into a corner.
1
Posted on 4/11/24 at 1:14 pm to BottomlandBrew
quote:
It is kind of frightening how little ability there is in Washington to cut spending.
They have all the ability in the world, they just don't have the desire.
Spending money helps elected officials in their eventual re-election efforts by giving them something to brag about to their constituents ("that new bridge I was able to get built" for example), something with which to leverage support from special interest groups ("I didn't do as much as you wanted, but I did more than my opponent would. Send me back and I'll keep fighting for you where they will work to shut you down") and funneling funds to groups and industries who will send some back to their campaign (for example: Lockheed Martin gives far more to incumbents than non-incumbents).
quote:
It’s not going to happen though until there’s blood in the streets.
Truer words... Sometimes I wonder if even that will do it for some of them.
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