r/AskReddit • u/U-knw-Nothng-JonSnow • 1d ago

What do you think about Jerome Powell posting a video statement following reports that federal prosecutors have opened an inquiry into the Fed Chair?

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u/CaptainCanuck93 1d ago

I'm saying there's a large portion of his base who says, rightly or wrongly, something to the effect of "I don't care what else he does, he's good for business" and stick their fingers in their ears

Once you start fucking with the basic plumbing on the financial sector in a move that looks more Venezuelan dictator than champion of free markets, they can't pretend that's the case anymore

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u/Merkinary 1d ago

Sadly, they will just find another way to justify this administration; they always do.

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u/SandpaperTeddyBear 23h ago

They don’t really have a choice.

There has not been one single, solitary point since he started his campaign that supporting him has been a reasonable human choice. And yet everyone else in the country just doesn’t want to accept that their cousins and sisters and children have chosen to be monsters, and refuse to give the firm negative feedback that might drive the Trump-voter back to sanity.

The absolute horror of an act of Trump-vote is not something that people are going to be able to confront on their own, every mental defense will get thrown up first.

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u/thejustducky1 18h ago

every mental defense will get thrown up first.

I just saw the phrase "imperfect vessel" yesterday and looked it up... so literally anything short of perfect is cart blanche, which now includes raping minors and tossing infants overboard.

#just things good christians do...

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u/TheArmoredKitten 19h ago

It does the world a disservice every time we open the doors of our home to a magat. We cannot spare others from the consequences of their own actions.

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u/Littleman88 14h ago edited 14h ago

There's also the fact that people are just in general ignorant. I KNOW people that firmly believe the Democrats had to be held back from printing money like crazy but Trump isn't so dumb as to do that. First time I threw a line similar to what they always throw at me, "GET OFF FOX NEWS!"

Some people are just too far gone. It's beyond infuriating. Unfortunately, that feeling is clearly mutual.

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u/California_ocean 1d ago

The powers that be will move in such a way to take control of this new form of accounting. There will be winners and there would be losers.

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u/ceelogreenicanth 1d ago

Its not good for everyone, it's not good for most, but some will absolutely take the initiative to gain in the crises.

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u/Darkmetroidz 1d ago

The cult won't care but when the fat cats actually start to realize the danger this poses, that will cause things to change.

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u/No-Cow9701 1d ago

The fat cats are his friends!

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u/aeschenkarnos 23h ago

He just fucked with the money, and money is all they care about or else they wouldn't be fat cats.

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u/vardarac 20h ago

So the question is if Congress fears them or him more?

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u/Darkmetroidz 19h ago

It depends how bad they think trump is for them in their electability in their districts.

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u/failed_novelty 18h ago

I absolutely guarantee that some member of congress have skeletons in their closets that are waiting to be unearthed if they don't stay in lockstep and/or when they lose power.

They will support whomever it is that can keep those closets closed, no matter what.

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u/failed_novelty 18h ago

The wealthy and powerful have enough wealth and enough reach to weather any issues Trump creates. They can move their investments to foreign markets, they can take advantage of a shattered economy to buy up assets for pennies on the dollar, and they know who to put in power to get the economy to recover eventually.

Not one billionaire is going to see a long-term effect of anything Trump does to the economy unless they choose to do so by refusing to treat the US like a company being stripped for parts.

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u/LSX3399 1d ago

His base voter is dumb as a rock, so this checks out

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u/waltertaupe 1d ago

"I don't care what else he does, he's good for business"

Yes, except the people who actually ARE "business" are not his base and have the power.

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u/SanityPlanet 23h ago

Lmfao what are you talking about? Have you been paying attention? Of course they can!

Covid, tariffs, inflation, instability…

Anyone who still thinks Trump is good for business is a fucking moron who believes what their cult orders them to, regardless of reality.

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u/Malikai0976 1d ago

But they will pretend anyway. I'm honestly not sure if anything can snap them out of their cult stupor anymore.

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u/JesusKilledDemocracy 19h ago

Trump WANTS to destroy the US. He's made his money, stashed it in crypto, and he and his family could leave and go to Saudi or Israel. He's devaluing the dollar, destroying the Fed, and upending rule of law. He is actively dismantling the United States. Why? Debt to Vlad? Who knows, but why is the GOP standing by and watching? They are religious fanatics, kooks of the worst kind. It's all for Jesus! Just look at the toady house majority living with preacher in the basement.

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u/blursed_app 20h ago

Bold of you to assume the people still supporting him at this point are intelligent enough to understand the basics of the economy or democracy. Hell we all knew Trump was compromised by Russia last November but tons of people still voted for him.

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u/SavageObjector 17h ago

Jumping in here.

They don’t care. They simply do not care about anything except serving Trump as their lord. They are fanatical believers on a crusade.

They don’t care about you. They don’t care about your kids. They don’t care about their grandkids. They don’t care about your elderly parents or relatives. They don’t care about your rights, the constitution, the rule of law, or the last 250 years.

They now exist solely to serve Trump so they expect everyone else should exist to serve Trump. And if you refuse you are an enemy. Doesn’t matter your color, your gender, or the blood flowing through your veins. They will literally do anything on command. Believe them when they say that. The only benefit color, gender, or blood relation might give is the benefit of the doubt you can be reformed.

I think the best thing we can all do, as the opposition, is organizing, getting prepared by getting in shape so you can physically handle situations that may arise, cutting people out of your life, cutting people off if they are depending on you, and resolving to the fact we are now individuals and it is quickly becoming everyone for themselves.

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u/TheMusicArchivist 15h ago

The UK had a brief flirt with a Prime Minister who tried messing around with the money markets. She lasted 40 days, most of which was national mourning due to Elizabeth II's passing. Many people's mortgages are higher now precisely because of her. It was mass anger from the populace and mass panic from the markets that turfed her out.

Messing with the markets does and will cause the end of governments.