Approval/Disapproval Polls

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Ramrouser said:
No but it would reduce mortgage payments, particularly for first time homebuyers. Obviously, the trick is to lower rates enough not to spur inflation as we were doing for decades prior to Biden.
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This is wrong again. Mortgage rates follow the 10 year treasury note. If the fed cuts rates in an inflationary environment, it is most likely the 10 year treasury will go up, not down. The fed cutting rates right now would cause costs to rise on nearly everything, mortgage rates included.
 
wmheel1287 said:
This is wrong again. Mortgage rates follow the 10 year treasury note. If the fed cuts rates in an inflationary environment, it is most likely the 10 year treasury will go up, not down. The fed cutting rates right now would cause costs to rise on nearly everything, mortgage rates included.
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This is exactly right, except that I would replace "most likely" with "entirely possible" or "50-50" but that is a nit. The big point is correct: the government can't cause interest rates to go down by fiat. Imagine if it could!
 
Ramrouser said:
No but it would reduce mortgage payments, particularly for first time homebuyers. Obviously, the trick is to lower rates enough not to spur inflation as we were doing for decades prior to Biden.
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inflation during Biden’s Presidency was 100% due to pandemic-induced global supply chain breakdown. Of course you know that, but spew ish nonetheless
 
Kingpin said:
inflation during Biden’s Presidency was 100% due to pandemic-induced global supply chain breakdown. Of course you know that, but spew ish nonetheless
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Biden didn’t have to spend 6 trillion+ in 2021 after COVID spending in 2000. We are still fighting his 9.3% inflation.
 
Ramrouser said:
What does it actually mean to "focus on affordability?" Trump constantly jawbones the Fed Chair to reduce interest rates (to the criticism of the media/Dems). He's replacing the Fed Chair with Kevin Warsh - who will reduce rates. That would probably be the most effective way to further reduce inflation. His policies already have energy prices down. Trump is trying to cut the size of government which is opposed by Dems and liberal interest groups. The BBB reduced taxes on working people (no tax on tips) and otherwise extended the Trump 1.0 tax cuts.

Housing is too high, particularly in urban/suburban areas. What can a President do? In general, he's trying to reduce/eliminate onerous environmental regulations, which should help.
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And just having Warsh as Fed Chair doesn’t guarantee anything. He has to get a majority to go along w him. Historically the Fed Chair does vote w the majority but if inflation is persistently high he will have trouble getting a majority to go along w cutting rates.
 
wmheel1287 said:
This is wrong again. Mortgage rates follow the 10 year treasury note. If the fed cuts rates in an inflationary environment, it is most likely the 10 year treasury will go up, not down. The fed cutting rates right now would cause costs to rise on nearly everything, mortgage rates included.
Click to expand...
As long as Powell remains intact until the end of his term, he won't cut rates. I better Refi on our home NOW. lol
 
Ramrouser said:
Biden didn’t have to spend 6 trillion+ in 2021 after COVID spending in 2000. We are still fighting his 9.3% inflation.
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Inflation was caused by

- transient increased demand coupled with severe
- slow raising of interest rates
- more than doubling of oil futures from Trump 1.0's depressed level - including the Russian invasion of Ukraine. From 2022 - recently, Oil futures and inflation have been decreasing. Releasing the National Reserves actually worked - it's bizarre to see folks still in the GOP struggling to understand the ramifications of supply and demand. It's one of the reasons I left the party.

- However, Dec. and Jan inflation #s are hot again. due to
1. Trump Tariff idiocy
2. Big Billionaire Bank Robbery deficit spending.

Trump's COVID giveaway was > Biden's...and Biden's stim. actually created manufacturing jobs that Trump is now losing
 
Ramrouser said:
Biden didn’t have to spend 6 trillion+ in 2021 after COVID spending in 2000. We are still fighting his 9.3% inflation.
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Not sure Trump needed to sign all those stimulus bills in 2020 either. A lot of fraud and market distortion created by him, too.

But hindsight is always a little sharper than foresight.

And there would have been 9% inflation with or without the last stimulus package. Inflation was worldwide in 2021.
 
Ramrouser said:
Biden didn’t have to spend 6 trillion+ in 2021 after COVID spending in 2000. We are still fighting his 9.3% inflation.
Click to expand...

Inflation in the OECD rises to 10.3% in June 2022 as food and energy prices
continue to pick up

Year-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) rose to 10.3% in June
2022 (Figure 1), compared with 9.7% in May 2022. This represents the sharpest price increase since June 1988.
Year-on-year inflation, which continues to be impacted by food and energy prices, increased in all countries except
Germany, Japan and the Netherlands. About one-third of OECD countries recorded double-digit inflation, with the
highest rate recorded in Türkiye (78.6%). By contrast, the lowest rate was recorded in Japan (2.4%).

https://share.google/0ICUznYQtafOibGCp
 
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