Last night's debate...
Pitted Donald Trump's ugly outlook against Hillary Clinton's rosy future. And regardless of your politics, Trump's tirade about the stock market, interest rates and the Fed stuck out.
The comments above came after a rehearsed Clinton soundbite attempted to excoriate what she calls "Trumped-up Trickle Down."
"Slashing taxes on the wealthy hasn’t worked. We need to rebuild the middle class. I don’t think top-down works in America. I think we should be building the Middle Class, investing in the Middle Class, making college debt free so young people can get their education, helping people refinance their debt from college at lower rates. Those are the kinds of things that will really boost the economy. Broad-based inclusive growth is what we need in America, not more advantages for the people at the very top."
Trump's eyes rolled throughout until he finally responded, "Typical politician, all talk and no action. Sounds good, doesn’t work. Never going to happen. Our country is suffering because people like Secretary Clinton have made such bad decisions."
He continued...
"Now look. We have the worst revivial of an economy since the Great Depression; and believe me we’re in a bubble right now. The only thing that looks good right now is the stock market and if you raise interest rates even a little bit that’s going to come crashing down. We are in a big, fat ugly bubble and we better be awfully careful.
We have a Fed that is doing politicals things. This Janet Yellen of the Fed. The Fed is doing political things by keeping interest rates at this level. And believe me, the day that Obama goes off to the golf course for the rest of his life and they raise interest rates, you’re going to see some very bad things happen. Because the Fed is not doing their job. The Fed is being more political than Secretary Clinton."
Hyperbole aside, Trump makes some important points. Namely... the U.S. economy continues to slow and the Fed is propping up equity markets under the guise of "data dependence." So Trump is on to something, but the political gong show continues.
