USA 2020 Elections - no, 'grarpamps' rethuglican vomits.

[jim bell]

On Monday, October 12, 2020, 08:45:20 PM PDT, Punk-BatSoup-Stasi 2.0 <punks at tfwno.gf> wrote: 

 >   Oh, and speaking of the 'far left'

 >   "President Donald Trump now wants the Federal Reserve to lower interest rates to zero or below."
    
 >   https://www.barrons.com/articles/trump-ignores-the-downsides-of-negative-interest-rates-51568280604



You probably don't remember that for the first seven (7) years of Obama's mal-administration, the Federal Reserve dropped the prime rate to almost 3.25, and then raised it sharply in that final year:  Obama was, of course, on his last term.

http://www.fedprimerate.com/wall_street_journal_prime_rate_history.htm

April 30, 2008    5.00
October 8, 2008    4.50
October 29, 2008    4.00
December 16, 2008    3.25
December 2015, the Fed raised the rate to 3.5
December 15, 2016                                     3.75 
March 16, 2017                                            4.00 
 June 15, 2017                                              4.25 
 December 14, 2017                                     4.50 

 March 22, 2018                                            4.75 
 June 14, 2018                                              5.00 
September 27, 2018                                    5.25 
 December 20, 2018                                     5.50 
July 31 , 2019                                              5.25 
September 18 , 2019                                   5.00 
October 30 , 2019                                        4.75 
March 3 , 2020                                             4.25 
March 15, 2020                                            3.25

 So, in the first year after the vote went for Trump, the prime rate went from 3.75 to 4.5
 In the SECOND year after the vote went for Trump, the prime rate went from 4.5 to 5.5.
In the THIRD year after the vote went for Trump, the prime rate went from 5.5 to 4.75.

You know, it really appears that the Fed was very much on the side of Obama, and later it was very much against Trump.  Almost as if it was trying to SABOTAGE the economic recovery.  

The Fed's treatment of Obama was the domestic, economic equivalent of Norway's giving Obama the Nobel Peace Prize upon his arrival at the White House, long before he had done anything arguable justifying that highly-misplaced 'honor'.  

                                 Jim Bell