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@C0nstituti0nChowd…RepublicanDisagreementsCandidatesFederal ReservedebtFaithDollar•••2yrs ago

Credibility of the US Federal Reserve is a joke, debt levels precarious, and faith in the dollar is receding globally

But it's “strange” that a Presidential candidate is talking about this.

6 Replies

 @CabinetAllisonDemocrat from New York  disagreed…2yrs2Y

What are you talking about? The global market for US dollars is the largest, deepest and most liquid market in the world. The demand for US dollars is greater than any item on the planet. In fact, the USD appreciated so much in 2022 that it was **** ing up entire nations economies

 @C0nstituti0nChowderRepublican from North Carolina  disagreed…2yrs2Y

This is 2023. The debt ceiling crisis, sovereign ratings downgrade, fallout from the Ukraine crisis, rising economic and geo-political tensions with China, are all real. I'm not saying that doomsday prophecies are credible, but discussing issues as part of an alternative economic agenda is valid. Derek's tweet that everybody else except the USA is in trouble, is empty chest-thumping.

 @CabinetAllisonDemocrat from New York  disagreed…2yrs2Y

None of those are indicators that the dollar is weak. Vivek isn't worth taking seriously as a candidate because of nonsense like this. I understand this is a pet issue for his supporters, but it's so far divorced from reality.

 @C0nstituti0nChowderRepublican from North Carolina  disagreed…2yrs2Y

The dollar certainly isn't weak yet, but the trajectory going forward is much less certain, than the self-congratulatory experts believe.

 @CabinetAllisonDemocrat from New York  asked for more information…2yrs2Y

So your argument is that the dollar shows every sign of being the most solid, dependable investment in the entire world as of this date, but it might in the future become less so, so we need to completely revise how we manage it so to make sure it doesn't become less stable?

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 @ISIDEWITH submitted…6mos6MO

Donald Trump nominates Pam Bondi as the next Attorney General

Former President and 2024 Republican presidential candidate Donald Trump has announced his intention to nominate former Florida Attorney General Pam Bondi as the next Attorney General of the United States, should he reclaim the presidency in the upcoming election.Bondi, a prominent figure in Republican politics, served as Florida's Attorney General from 2011 to 2019. She gained national attention for her legal battles on issues such as health care reform, consumer protection, and opioid abuse litigation. Known for her steadfast support of Trump during his presidency, Bondi also served as a key adviser during his first impeachment trial, where she defended his administration against accusations of abuse of power.In a statement released by his campaign, Trump praised Bondi’s “unwavering commitment to justice” and her “track record of standing up for everyday Americans against the abuses of Washington’s elites.”“Pam Bondi has been a fearless advocate for the people, and she embodies the principles of fairness, accountability, and the rule of law that are sorely needed to restore trust in our justice system,” Trump said. “She is the right person to lead the Department of Justice into a new era of integrity and excellence.”While Bondi’s nomination has been met with applause from conservative circles, it has also reignited criticism from Democrats and ethics watchdogs. Her acceptance of a $25,000 donation from the Trump Foundation in 2013, which coincided with her decision not to pursue an investigation into Trump University, has drawn scrutiny in the past and resurfaced following the announcement.Democratic leaders have already voiced opposition, questioning Bondi’s ability to lead the Department of Justice independently. Senator Amy Klobuchar (D-MN) called the nomination “a political power play” and urged a focus on “restoring integrity, not entrenching partisanship.”

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 @ISIDEWITH submitted…7mos7MO

The data says the US economy is strong. Swing-state voters disagree.

The US labour market has remained strong even while inflation has plunged from its 2022 peak. In September, the unemployment rate fell back to 4.1 per cent — higher than last year but still historically low. Even so, some warning signs have flashed for the economy. The number of Americans pursuing a second job is rising. So is the number of people unemployed for 15 weeks or longer. Credit card delinquencies are up, as people burn through cash handed out by the government during the pandemic. “People don’t feel as secure now,” said Paul Isely, an economics professor at Grand Valley State University in Michigan. “Even if lots of other markers in their life are better off, they know that they are consuming past their means, whereas before it was hidden by the fact that they had these excess savings.”Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of“Here’s the problem: inflation is the rate of increase and [that] has slowed, but the public’s focus is on the absolute price,” the president of Western Michigan University said. “It takes a lot for the price level to come down. That would be a recession and deflation, so it’s not quite clear you really want that.”For residents in the state’s most populous area — spanning Detroit, Warren and Dearborn — everyday costs are now much higher and still rising. Inflation jumped to almost 10 per cent in 2022 and was still above 3 per cent as of August, according to federal data.That has left housing-related expenses up 36 per cent since Biden entered office. Petrol is more expensive than under Trump. Grocery prices have risen 25 per cent in the past four years.

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