For the Sake of Our Money, Scott Bessent Needs to Shut Up: The more thuggish the treasury secretary gets, the more reason to fear the economy will tank.
For the Sake of Our Money, Scott Bessent Needs to Shut Up: The more thuggish the treasury secretary gets, the more reason to fear the economy will tank.
When people lose faith in the stock market along with the overall health of the economy, Wall Street longs for a steady hand at the helm. Instead, they get Treasury Secretary Scott Bessent hurling insults in every direction and giving every impression that he’s about to have a nervous breakdown, writes Timothy Noah.
Otherwise_Cicada6109 on
The economy or the market? Two very different things.
slo1111 on
Just another fool who sold out any standards or principles he held to worship at the orange alter. He just keeps sinking
taikoowoolfer on
Hmmm so from a Canadian pov the lost in confidence had already been done when you guys talked about Canada being the 51st State, and we are usually people with a good sense of humour. It’s not just about him.
We will stay closer to the EU, and watch the dollar tank further more until your current president is gone-gone. I don’t usually wish people ill but yeah, being a bully to one of your closest allies is one of the worst decisions ever made. Our PM had signed 12 trade deals with other countries to decrease dependence on the US + foster better relationships with ASEAN and the EU.
TLDR: you really really need to beware your current president doesn’t bankrupt you guys in 2-3 years, as you guys are just one year in his presidency.
BioShockerInfinite on
The competing theories are
1. Bessent and the Trump admin are actively devaluing the dollar to enable the reshoring of manufacturing. A lower dollar makes US goods more attractive for export.
2. The Trump admin believes they can remain the US hegemony and reshore manufacturing.
3. The admin is enacting manic policy shifts based on whatever shiny object irritates Trump day to day. This is causing the dollar to devalue as America looks less stable and more irrational with each new random policy.
4. Neither Trump or his admin can decide what they actually want to accomplish or how, so they have decided to flip flop back and forth reacting to whatever emergency presents itself- wanting reshoring of manufacturing, but not knowing whether they want to be the hegemony or not.
They need to choose a single policy and they need to stop being dicks about it.
Tremolat on
The shift away from US assets and the dollar is now irreversible. Trump has put the dollar on a rail towards an equivalent “Suez Crises” (the event that ended the era of the British Pound’s as the world’s reserve currency).
Apopletic_Disbelief on
I am assuming his position is impeachable. If so, impeach him for being unfit for duty.
7 Comments
When people lose faith in the stock market along with the overall health of the economy, Wall Street longs for a steady hand at the helm. Instead, they get Treasury Secretary Scott Bessent hurling insults in every direction and giving every impression that he’s about to have a nervous breakdown, writes Timothy Noah.
The economy or the market? Two very different things.
Just another fool who sold out any standards or principles he held to worship at the orange alter. He just keeps sinking
Hmmm so from a Canadian pov the lost in confidence had already been done when you guys talked about Canada being the 51st State, and we are usually people with a good sense of humour. It’s not just about him.
We will stay closer to the EU, and watch the dollar tank further more until your current president is gone-gone. I don’t usually wish people ill but yeah, being a bully to one of your closest allies is one of the worst decisions ever made. Our PM had signed 12 trade deals with other countries to decrease dependence on the US + foster better relationships with ASEAN and the EU.
TLDR: you really really need to beware your current president doesn’t bankrupt you guys in 2-3 years, as you guys are just one year in his presidency.
The competing theories are
1. Bessent and the Trump admin are actively devaluing the dollar to enable the reshoring of manufacturing. A lower dollar makes US goods more attractive for export.
2. The Trump admin believes they can remain the US hegemony and reshore manufacturing.
3. The admin is enacting manic policy shifts based on whatever shiny object irritates Trump day to day. This is causing the dollar to devalue as America looks less stable and more irrational with each new random policy.
4. Neither Trump or his admin can decide what they actually want to accomplish or how, so they have decided to flip flop back and forth reacting to whatever emergency presents itself- wanting reshoring of manufacturing, but not knowing whether they want to be the hegemony or not.
They need to choose a single policy and they need to stop being dicks about it.
The shift away from US assets and the dollar is now irreversible. Trump has put the dollar on a rail towards an equivalent “Suez Crises” (the event that ended the era of the British Pound’s as the world’s reserve currency).
I am assuming his position is impeachable. If so, impeach him for being unfit for duty.