Vivek Ramasywamy: I will reduce headcount at the U.S. Federal Reserve by >90%
Credibility of the US Federal Reserve is a joke, debt levels precarious, and faith in the dollar is…
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.
@CabinetAllisonDemocrat2yrs2Y
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.
The dollar certainly isn't weak yet, but the trajectory going forward is much less certain, than the self-congratulatory experts believe.
@CabinetAllisonDemocrat2yrs2Y
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?
If anyone is convinced that the US Fed has done a stellar job, and their loose monetary policy for far too long, didn't create asset bubbles, or that they didn't get their basic job of forecasting inflation horribly wrong by repeatedly dismissing it as “transitory”, or they didn't look foolish insisting that the “banking system is sound”, days before multiple regional banks starting collapsing, then that's a view they are entitled to. Secondly, the debt ceiling fiasco and sovereign ratings downgrade are important events/ indicators tracked globally… Read more
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