Guest post by Joe Hoft
Since October The Fed has single-handedly dismantled the US economy. The Trump tax cuts at year end 2017 set the economy on fire. The US stock markets set numerous records. So the Fed had to step in and kill the economy or, God forbid, he would get re-elected in 2020!
The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year. The Dow immediately dropped 720 points in 10 minutes. The DOW was down at one point by 894 points!
Holy crap!! Somebody get this guy off the stage! Dow drops 894 points since Fed Chairman Powell took the stage!! pic.twitter.com/SKdEZkZFpt
— The Gateway Pundit (@gatewaypundit) December 19, 2018
The Fed is clearly a political machine not working in the interest of President Trump or the American people.
As a result of Fed policies Americans are being bound with massive interest payments on Obama debt for years to come while watching their 401k’s dissolve into thin air.
The Dow Jones dropped 3,500 points since the Fed’s Jerome Powell’s insidious comments in early October to continue to increase interest rates.
The DOW reached another all-time high on October 3rd reaching 26,829. It was up for the 103rd time since Donald Trump was elected President and 46% since the November 2016 election.
This was clearly too much for the Fed’s Powell who then scared investors with his message that he will raise rates well into next year.
On Monday after the president’s tweet the Fed announced it would likely raise rates — The Dow immediately dropped another 507 points.
1/8th of the equity in US stock markets is now gone thanks to the Federal Reserve.
$4 Trillion in Wealth has been erased!
On Tuesday Stephen Moore said if the Fed raises rates on Wednesday they should all be fired. Moore was right.
Via Bulls and Bears:
What more will it take for this man to be removed? Every American with a 401k knows today that the markets are down significantly since October. Most Americans don’t know that it is the Fed that has created this selloff.
By raising rates the Fed lowered every American’s net worth while increasing the amount of US debt interest payments on American tax payers for decades to come. Each interest rate increase increases the rates paid on the US debt and now the rate increases equal a half a trillion dollars in debt interest payments alone.
What really makes the Fed’s actions appalling are that it never allowed a rate increase for seven years under President Obama. The Fed kept the rates at 0% for seven years!
https://twitter.com/joehoft/status/1075561974241456128
The Fed has gone into overdrive to push higher rates to kill the economy – to hell with Trump and working Americans!
https://twitter.com/joehoft/status/1075561978368745472
After the Fed killed the housing market with increasing rates, slowing down the construction boom, they went after President Trump and every working American –
https://twitter.com/joehoft/status/1075561980868493312
