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RICHARD COFER

Lunar Occultation of Jupiter (Egress)

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Posts Made By: Rod Kaufman

March 23, 2023 07:30 AM Forum: Politics

Former FDIC Chair: "Stop Raising Rates Now

Posted By Rod Kaufman

Originally Posted by David Cotterell

So how, precisely, does the bolded line above relate to the inflation happening right now in Canada, the UK, New Zealand, Italy and nearly every other country in the world? 

https://tradingeconomics.com/country-list/inflation-rate-
 
Dave
It, of course, does not. But MAGA types can't and won't understand that we live and work in a global economy. For them, whatever ever they see and hear on some right wing blog or "news" site is absolute, unchallenged gospel and the rest of the world ends with whatever they see at the tips of their own noses...

March 23, 2023 08:30 AM Forum: Politics

Former FDIC Chair: "Stop Raising Rates Now

Posted By Rod Kaufman

I got a kick out of this one from Powell:
"The central bank again hiked interest rates by 0.25 percentage points on Wednesday but warned it was still trying to figure out how recent bank failures would affect the economy."

“We did consider that in the days running up to the meeting,” Fed Chair Jerome Powell told reporters after the Fed’s announcement, adding that “the inter-meeting data on inflation and the labor market came in stronger than expected and really before the recent events, we were clearly on track to continue with ongoing rate hikes.”
“The events of the last two weeks are likely to result in some tightening of credit conditions for households and businesses,” Powell said, noting this tightening “would work in the same direction as rate tightening in principle.”
https://thehill.com/newsletters/business-economy/3913436-why-the-fed-hiked-rates-in-the-face-of-banking-crisis/

So, in other words, since we caused two banks to fail, it's having the same effect as if we raised interest rates higher. Yup, we've doing our job!...

March 23, 2023 10:09 AM Forum: Politics

Former FDIC Chair: "Stop Raising Rates Now

Posted By Rod Kaufman

Originally Posted by Greg Shaffer


You really are a simpleton as Rich says arent you? lol

Spending more than we have? No problem, we will just print more money. The problem is simple. The solution is simple. Instead you buy into a whole lot of double speak to avoid the basic truth. We cant spend more than we have and expect not to see a negative result. 
If it were only that simple...
That said, I don't recall you having any issues with Trump and company spending like drunken sailors on their watch. And much of that requires a raise in the debt ceiling that we're facing now...

March 23, 2023 11:00 PM Forum: Politics

Former FDIC Chair: "Stop Raising Rates Now

Posted By Rod Kaufman

Originally Posted by Greg Shaffer


Admittedly I had less problems with it since far more of it was spent on things I agree with than with the current administration that does not mean I supported it, both sides spend like drunken sailors and both are dead wrong for doing so. At some point we have to bite the bullet and take the hard road to fixing it or we fail as a nation.

And yes, it really is that simple.....but the fix will be painful and more so later.
Well, you and I agree to disagree that it's simple.
That said, what I find difficult to understand in your response is the statement of, "more of it was spent on things I agree with than with the current administration..."
Really? Most of the deficit producing "things" was government spending under Trump to alleviate the unemployment and health related aspects of the covid pandemic. I didn't think you bought into that. That, and the Trump tax cuts, produced a multi-trillion dollar deficit that we are still dealing with today and is a substantial reason as to why the debt ceiling needs to be raised now without GOP obstruction...

March 24, 2023 12:17 AM Forum: Politics

Former FDIC Chair: "Stop Raising Rates Now

Posted By Rod Kaufman

Originally Posted by Richard Davis
To the brain trust here who are here (and I exclude Greg because he understands economic inflation and what causes it, unlike the rest here)

Know this:

Economic Inflation is caused by ONE thing and ONE thing only, gov't overspending.  That's it.  Period, end of story.

As for all the excuse makers who apparently can't think past the noses on their clueless faces

You want to say "well, other nations around the globe are experiencing high inflation as well so it has nothing to do with Joe Biden overspending"

Well here's the rub for you.  Other nations that are experiencing inflation are led by liberal idiots, the way the US is being run by liberal idiots.

Their leaders are OVERSPENDING as well.  That's why they are experiencing high inflation.

I know that Greg is smart enough to know that, but the rest of the respondents here?  You're stuck on stupid.  And the only fix is for you to Get a clue.  

Have a nice day!  smile

"Other nations that are experiencing inflation are led by liberal idiots, the way the US is being run by liberal idiots."
Yup, that goshdarn global conspiracy of liberal-initiated inflation! How could it possibly be anything else?....

March 14, 2023 09:22 AM Forum: Politics

Former FDIC Chair: "Stop Raising Rates Now

Posted By Rod Kaufman

"Sheila Bair, a top banking regulator during the 2008 financial crisis, says the stunning implosion of Silicon Valley Bank is exactly why the Federal Reserve needs to halt its war on inflation."
https://www.cnn.com/2023/03/13/investing/sheila-bair-svb-fed-rates
Silicon Valley bank may have made some bad decisions but from my readings, it's investments were conservative and relatively low risk until it got blasted by Powell and company with rate hike after rate hike. If he keep it up, we'll probably see more failures. Oops, another one just did:   "Signature Bank: The New York financial institution closed its doors abruptly after regulators said it could threaten the entire financial system. To some extent, it is a victim of the panic around Silicon Valley Bank.10 hours ago" 

March 15, 2023 01:52 AM Forum: Politics

Breaking: Russia Downs US Reaper Over The Black Sea

Posted By Rod Kaufman

MIG 27 rams US Reaper Drone over international waters in the black sea:
https://www.jpost.com/breaking-news/article-734317

March 17, 2023 07:47 AM Forum: Politics

Newsom's New Plan For The Homeless!

Posted By Rod Kaufman

"California will spend about $30 million to build 1,200 small homes across the state this year, Gov. Gavin Newsom announced Thursday, part of a plan to help house the nation's largest homeless population and to address an issue that has persistently plagued the state during the governor's time in office."

"But critics said Newsom is spending more money on things that won't do enough to help. Since taking office in 2019, Newsom has signed off on more than $22.3 billion in new spending on housing and homelessness programs. California's homeless population has increased 6% since 2020, compared to a 0.4% increase in the rest of the country, according to an an analysis of federal data by the Public Policy Institute of California."

https://www.nbclosangeles.com/news/california-news/newsom-california-tour/3116126/

We all know those tiny homes are gonna get it done!

March 20, 2023 12:04 PM Forum: Politics

My condolences to JB - Off Topic NCAA content

Posted By Rod Kaufman

Originally Posted by Richard Davis

Never said I was the victim, but if that is the best you've got counselor...  well. we know you will continue to avoid the tough questions and hide under your desk every time you're challenged.

Tell me all the great things that the corrupt President you voted into office has done.  I mean we all realize that you voted for Biden to satiate the irrational TDS that lives in your brain.  

But maybe you can delineate for all of us, the great achievements that your Joe Biden has offered to this nation to make it so much better.

Was it his open border policy?  His 7+ Trillion dollar proposed budget?  The fentanyl crisis that he's done nothing to stop yet, which has resulted in over 100,000 American deaths per year?  

Or was it that he let his corrupt crack addicted son whom he lent his name so that same crack addicted son could sell access to our mortal enemy the Chinese gov't, in which he enriched his family and himself while skimming 10% off the top?

Or was it his brilliant move in moving out of Afghanistan with no plan at all, that winded up killing 13 US soldiers that day he scurried out with his tail between his legs?

Are any of those wonderful things what you are most proud of Joe Biden for doing? 

If not, perhaps you can name 4 or 5 great agenda items that Joe Biden has given the American people over the last 2 years?

Oh no, not 4?  Well maybe just 3? No?  How about 2 great achievements that your President has given us?

1?  smile
Man, have you ever drunk the MAGA kool-aid. We've already gone though Biden's accomplishments in prior threads on the subject. INFRASTRUCTURE ring a bell? How about capping insulin at $35 bucks a month for the millions who need it. And that's just to name a few. 1.5 million illegal immigrants kicked out of the USA. Ask them if we have an open border...

May 11, 2023 09:07 AM Forum: Politics

My condolences to JB - Off Topic NCAA content

Posted By Rod Kaufman

Wow! Just wow! Those images of the sun from Jim B are something to behold!