it's hard to imagine the institutional capitalists want this to happen, for the bank's powers to be pulled farther under the sway of direct electoralism in general, or into the sphere of the trump project in particular.

i would have thought this was all patter for effect, part of the constant ultimatum "art of the deal" to wring concessions and place bets on the volatility, but honestly I am starting to think it's less coherent than even that. like maybe it's just "I am God, do what I want" mercurial madness for its own sake.

[–] Lussy@hexbear.net 11 points 5 days ago* (last edited 5 days ago) (2 children)

it's hard to imagine the institutional capitalists want this to happen,

Why do you assume institutional capitalists don’t want this to happen when we’ve seen contemporary capitalists place short term gains in the form of mergers and general stock fuckery as their only priority?

If institutional capitalists did not want these things to happen, Trump wouldn’t be able to do what he does and pass the abomination that BBB is.

[–] came_apart_at_Kmart@hexbear.net 13 points 5 days ago

if institutional capital really wanted this to happen, there wouldn't be any discussion about it at all because the reserve would lower rates as soon as trump signaled a desire to lower them or Powell would have already resigned.

the federal reserve committee IS institutional capital. it was established to make decisions independent of any electoral sentiment at a time when socialism was gaining ground in the US, just years before Debs ran for high office.

[–] WrongOnTheInternet@hexbear.net 4 points 5 days ago (1 children)

Blow up the system, get a bail out

[–] enkifish@hexbear.net 2 points 5 days ago (1 children)

In what though? An increasingly worthless, hyper-inflating currency? Maybe this what the bitcoin strategic reserve is for lol

[–] WrongOnTheInternet@hexbear.net 1 points 4 days ago

Inflation will only continue until the democrats get in and impose extreme austerity measures

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