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The left is almost completely unanimous in their support for lowering interest rates, and have been screaming about it for years, since the first moment they st
by pessimizer 1y ago
The left is almost completely unanimous in their support for lowering interest rates, and have been screaming about it for years, since the first moment they started being raised again. And for the same reasons that Trump wants it, except without the negative connotations for some reason.
Recently, I've heard many left wingers, as a response to Trump's tariffs, start 1) railing about taxes being too high, and that tariffs are taxes so they're bad, and 2) saying that the US trade deficit is actually wonderful because it gives us all this free money for nothing.
I know all of these are opposite positions to every one of the central views of the left of 30 years ago, but politics is a video game now. Lefties are going out of their way to repeat the old progressive refrain:
> "The way that Trump is doing it is all wrong, is a sign of mental instability, is cunning psychopathic genius and will resurrect Russia's Third Reich, but in a twisted way he has blundered into something resembling a point..."
"...the Fed shouldn't be independent and they should lower interest rates now."
- mason_mpls 1y agoI have not heard a single left wing pundit demand interest rates go down
- rockemsockem 1y agoElizabeth Warren has gone on several talk shows insisting interest rates should be lowered. If you look at video from the last time Powell was being questioned by Congress there were many other Democratic congress-people asking him why he wouldn't lower rates. Personally I trust Jerome Powell more than any other part of the government at the moment. The man is made of steel.
- mason_mpls 1y agoJerome Powell belongs on Mt Rushmore if you ask me
- no_wizard 1y agoHe's entirely too cozy with big banks. He's one of their biggest advocates when it comes to policy. I think Elizabeth Warren had a point here[0] [0]: https://www.bloomberg.com/news/articles/2024-07-03/senator-warren-accuses-powell-of-letting-big-banks-ceos-get-too-much-sway https://www.bloomberg.com/news/articles/2024-07-03/senator-w...
- rockemsockem 1y agoCoziness with banks can certainly be an issue, I don't know specifics and that article is pay walled for me, but it sounds very believable to me. That doesn't really change what I said regarding interest rates though.
- deleted 1y ago[deleted]
- thrance 1y agoWho cares? Even if it were true, why is your first reflex to point the finger at progressives when they're absolutely irrelevant to the current government?
- skinnymuch 1y agoPeople are upset at the tariffs as taxes because they hurt poorer people more. That’s how it works when everyone pays the same amt of taxes