Comments by "Daniel Bradford" (@Falconlibrary) on "Bloomberg Television" channel.

  1. That's a lot of words to say "Wall Street wants its free money back but I don't know what's going on."
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  2. It might start with Zelenskiy to actually go to Kyiv instead of acting in front of a green screen in his French villa.
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  3. One of the Democratic Party's top three donors, that's why.
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  4. FED: Free money party is over for the foreseeable future. WALL STREET: You don't really mean that. C'mon, it's us, and you always do what we want. FED: Not this time. WALL STREET winking and elbowing the Fed : Ok, sure we believe you wink and nudge again FED: Not kidding. WALL STREET: Of course you're not wink
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  5. Socialism got us into this mess. Kamala: More socialism will get us out of this mess.
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  6. "He must be a king." "How can you tell?" "He hasn't got mud all over him." "He does now!"
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  7. That was a whole lot of words for "You 'bout to lose your job" from Larry Summers.
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  8. "Ah, yeah, the Fed should keep that free money coming because I really, really like it, and I don't know how to run a business properly without it because I'm very incompetent."
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  9. Senator Lankford of Oklahoma asked Janet Yellen if ALL accounts over $250k are now covered by the FDIC. Yellen's response was that they're only covered IF she and the FDIC decide that not covering those uninsured accounts poses "systemic risk" to the banking system. Which means the account has to be in a "too big to fail" bank. But both the head of Signature and SBV lobbied Congress to not apply Dodd-Frank reserve requirements to them, because their banks were too small to pose "systemic risk". So Yellen and the FDIC are pushing people towards the big banks and trying to kill regional and community banks. Not only that, but "systemic risk" is just cover for "rich people we care about were going to lose some of their money". Socialism for the rich, rugged capitalism for the rest of us. The corruption in Washington, D.C. has never been worse.
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  10. That dame sang like a canary.
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  11. I haven't seen a worker under forty in any retail store in awhile. Young people are just not interested in work or at least in a 9 to 5 job. I'm retired and get job offers all the time without even applying to companies. I'm friends with a clerk at WalMart and she told me the younger workers, when they do hire on, rarely last more than a week or two because they don't like the grind of a full-time job. I don't know what's going to happen when the older folks are no longer able to work. I lived in a mixed age neighborhood, everyone from twentysomethings to retirees, and none of the young people appear to have jobs. They hang out at home all day and smoke weed. How they support themselves is a mystery I don't want to solve.
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  12. Many of us have been saying this for over a YEAR. One more time: the Fed terminal rate needs to be AT LEAST TWO POINTS HIGHER THAN INFLATION IN ORDER TO CRUSH INFLATION. It needs to be 8.5% AT LEAST. If the Fed doesn't move fast, inflation is going to jump back up into the double digits and we'll have it with us for the rest of this decade. The effects on ordinary people's lives will be ruinous.
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  13. "Everybody I know is buying private islands, multiple mansions, and yachts." The suit he's wearing would pay my rent for four years.
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  14. I just bought groceries that cost me $200 three months ago (I keep receipts). Exact same items cost $350. Yep, inflation is "under control", time to start throwing that free money in the air again so rich guys don't have to admit they can't manage without it.
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  15. Powell had to make a choice: protect asset values or fight inflation. He can't do both. He's decided to protect asset values by bailing out uninsured depositors and to promise to continue doing so indefinitely. Which means throwing trillions more into an already overheated economy. Which means 6% inflation is with us for the time being, and double-digit inflation within a year or so. Nothing is more ruinous for a society than inflation, which is why 2% was always the target. Senator Warren was right about Powell: he had two jobs, overseeing the banking system and monetary policy, and he's failed spectacularly at both.
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  16. Many of us have been saying this for over a YEAR. One more time: the Fed terminal rate needs to be AT LEAST TWO POINTS HIGHER THAN INFLATION IN ORDER TO CRUSH INFLATION. It needs to be 8.5% AT LEAST. If the Fed doesn't move fast, inflation is going to jump back up into the double digits and we'll have it with us for the rest of this decade. The effects on ordinary people's lives will be ruinous.
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  17. Cutting jobs is always good for stock prices, and that's all these people care about. If throwing babies into tiger pits made stocks go up 5%, they'd be cheering that on, too.
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  18. People like me who aren't shills for the banking industry or Wall Street etc have been saying for at least a year now that this is where we've been headed. We've been called: 1. Panicky 2. Doomsayers 3. Other names the algorithm wouldn't like I would like to add a new one: 4. Accurate predictors
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  19.  @metalstamping  That was the polite description of Larry Summers
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  20.  @mikehawk4856  They're trying to stampede you into selling. While they're buying.
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  21. Commercial real estate is in big trouble. Ex: Pinterest just paid $100 million to get out of leases so it can consolidate its office space.
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  22. TAXPAYER BAILOUT ALERT😂😂😂
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  23. Powell had to make a choice: protect asset values or fight inflation. He can't do both. He's decided to protect asset values by bailing out uninsured depositors and to promise to continue doing so indefinitely. Which means throwing trillions more into an already overheated economy. Which means 6% inflation is with us for the time being, and double-digit inflation within a year or so. Nothing is more ruinous for a society than inflation, which is why 2% was always the target. Senator Warren was right about Powell: he had two jobs, overseeing the banking system and monetary policy, and he's failed spectacularly at both.
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  24. We could've had Elizabeth Warren as Treasury Secretary, someone who has good policy ideas and is mentally alert enough to implement them. Yellen made it quite plain in recent testimony before the senate's finance committee that she doesn't even know what day of the week it is, let alone have a coherent set of policies. Yellen didn't know even the broad outlines of Biden's proposed budget and Senator Kennedy of Louisiana had to explain to Yellen, as he would to a small child, the concept of a budget ("a budget is spending money"). Is there any competent member of Biden's administration? Every single member of his cabinet seems not to know nor care what their jobs are, nor have the first clue on how to carry them out.
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  25. Prices have gone up across the board 10% just in the last week.
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  26. "Regaining confidence"? How are they going to do that? By only bailing out rich depositors when things get tough? Yeah, that oughta do it.
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  27. Musk, world's richest man: "I want you to pledge to work long hours to make me even richer."
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  28. House is Republican, Senate is Democratic and Mr. Millstein said "a Republican HOUSE". Exact quote. And that's important because the House holds the purse strings: “All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.”— U.S. Constitution, Article I, section 7, clause 1
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  29. Summers has to say that or you won't see him on tv again.
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  30. Can we bury him under a rock, then?
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  31. JOHNSON: No Prime Minister after me can possibly ever make such a colossal disaster of things as I have. TRUSS: Hold my tea.
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  32.  @julius6238  "I'm always the last person in the room in meetings with the president"--Kamala, bragging about how influential and important she's been in this presidency
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  33. Powell foolishly locked in expectations for three more increases of .25 basis points and he'll stick to that, even when he shouldn't. Jerome Powell is the wrong man for this job.
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  34. She's using a de-aging app to hide wrinkles
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  35. Sigh. Powell's Fed is The Gang That Couldn't Shoot Straight. Powell's a lawyer, not an economist. And his amateurishness created this crisis and is deepening it. Here's what real economists say: 1. Current Fed rate is federal funds rate is currently 3.7% to 4%. We need 6.5% to begin to tame inflation. Powell's timid incrementalism is prolonging this crisis and spooking markets and consumers. 2. Inflation is not cost-push. Gas prices moderated for three months and inflation still kept climbing during that period. 3. Fed needs to stop financing our debt with short-term bonds and go with long-term (thirty year) bonds so the cost of debt repayment can be more reliably calculated. It's the difference between financing your house purchase through a five-year adjustable rate mortgage and hoping the rate doesn't jump at the end of five years, and locking in a rate at thirty years. The longer inflation goes on, the more persistent it tends to be, and the more severe the eventual remedy. This is why Volcker's Fed had to shock our economy with an 18% interest rate and two recessions during the early 1980s. Cut out the tumor now while it's small or wait a few more years when it's metastasized.
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  36. The Fed had to choose between fighting inflation or protecting rich people's assets. Powell protected rich people's assets. The fight to lower inflation is over for the rest of this decade. Learn to live with double digit inflation for the foreseeable future. Inflation will be 10%+ before 2023 is over. Rich people like inflation because inflation raises the value of their assets and makes their debt cheaper to carry and to repay. Inflation is ruinous for the rest of us, but the Fed doesn't care about us. Never has.
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  37. Allow me to simplify: 2023 will be worse than 2008 because in 2008, the Fed was able to engineer a relatively quick recovery by lowering interest rates and keeping them there for the next 14 years. Now, the Fed cannot do that, because if it lowers interest rates, it will reignite inflation. Inflation was not a factor in 2008. It is now. In addition, governments are all much more indebted than they were in 2008, which means their ability to stimulate the economy through government spending is also constrained. This is why this time, the Fed and the governments of the world have to let this downturn reach its logical conclusion rather than playing Superman rescuing Lois Lane as she falls from the top of a building. Businesses will fail, hundreds of millions will lose almost everything they have, and this will go on for years. It may even turn into the second Great Depression. Political instability will sweep across the world and I have no idea how that's going to turn out. No one does.
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  38. Who's "we"? As we've just seen with the unprecedented (and illegal) FDIC bailout of Silicon Valley Bank's depositors, there's two "we"s: We = Very rich people We = Everybody else Let's not pretend "we" live in the same economy or are even governed by the same set of laws. Because "we" are not. The Fed is NOT going to bring down inflation because inflation benefits asset holders, and THEY are the same rich people who threw a fit on Friday afternoon and got a multibillion dollar bailout by Sunday night. I'm reporting facts. Don't like 'em? Do something about it.
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  39. Things Powell has said this year: We're going to cut interest rates 4-6 times We're not going to cut interest rates soon Worst Fed chairman since Arthur Burns in the 1970s, the man who gave us the crippling stagflation that Paul Volcker had to break
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  40. Gee, it sounds kind of bad when you put it that way.
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  41.  @ridethecurve55  I can't handle the truth!
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  42. I'm sensing a theme here.
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  43. Gosh, it's too bad Hunter doesn't have a daddy who's president, because after the election Hunter's daddy could pardon him.
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  44. Yeah, it's a bit much.
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  45. The Titanic stabilized when it hit the ocean floor, so technically, she's correct.
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  46. Powell had to make a choice: protect asset values or fight inflation. He can't do both. He's decided to protect asset values by bailing out uninsured depositors and to promise to continue doing so indefinitely. Which means throwing trillions more into an already overheated economy. Which means 6% inflation is with us for the time being, and double-digit inflation within a year or so. Nothing is more ruinous for a society than inflation, which is why 2% was always the target. Senator Warren was right about Powell: he had two jobs, overseeing the banking system and monetary policy, and he's failed spectacularly at both.
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  47. He isn't
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  48. Time crunching these segments is a bad idea and this segment proves it. I wouldn't participate in it because it's undignified, almost a parody of an actual news program.
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  49. Eggs up 40% in the last two weeks
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  50. SBF is going to be Epsteined. He knows too much.
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