Treasury Secretary Bessent calls for a review of ‘the entire’ Federal Reserve

No, no, don't focus on THAT (or wars, or tariffs, or trade deals, or Epstein, or.....), just look over here and talk about this!

Oh the irony , considering the administration has just added 3.4 trillion to the national deficit .

I’d go with that . Whilst we’re on the subject of fiscal discipline , let’s bring back M3 money supply , withdraw all the liquidity from 2008 ( at a minimum ) allow free markets and deflation , annul too big to fail and allow economic cycles to play out .

Let’s pop the asset bubbles ( plural) and allow price discovery to occur via the rules of supply/ demand .

Probably more “ old school “ Ryder , than heavy hitter .

It’s common sense policies which I was taught from a young age - can’t afford it , can’t buy it . Even today with my own daughters, I instilled in them the same ethics .

Debt was frowned upon.

I was never a big fan of debt either (never had a penny of CC interest, etc). But, aside from CCs, I learned that debt CAN be a leveraging tool IF (key word) used responsibly. I've made/lost a LOT of $$ using "debt" (aka leverage) as a wealth creation tool. Let's face it, few of us actually have liquidity to trade various derivative instruments in a 'naked' fashion. I'm not sure of everyone's situation, but when you start getting 10, 20, 50, 100 mini equity contracts on at a time, the notional value of those grows pretty darn fast (depending on the instrument). Heck, one /nq requires $35.5k capital to put on but represents $464,000 (20*$23200). Laying out half a million/contract wouldn't be much fun without the "debt" we take on each time a trade is placed.

As such, I do believe there is at least SOME basis for "future growth should allow the ability to borrow capital today". Where I seem to differ from governments is that there's a LIMIT to which I will put money to work. Sure, some of that is the broker telling me I need to deposit more if I want to increase exposure (whereas the government can just "print" more $$), but still....

Like most things in life, 'moderation' and/or 'prudent' investing is the key with debt.

For the record: The Federal Reserve is a private entity set up by act of congress in 1913. The 12 Federal Reserve Banks are private entities owned by member banks in the US, England, Germany, and elsewhere. The Reserve Banks are controlled by a group of 7 Governors appointed by the US President. Responsible for controlling the US money supply, they use US resources to print our money and then charge us interest on it at the Federal Reserve Funds Rate, currently at 4.5%. Currently interest runs around US$1T a year!! Before 1913, the US managed its own money and did quite well. We should do that again, but no one will touch it. Wonder why. Save $1T/yr right now.

Sounds like the one-person Judge & Jury have already made their verdict. Now, he just needs to figure out a way to get the Execution done without really pissing off the SCOTUS. Popcorn at the ready.

Are you kidding? The Federal Reserve doesn't make mistakes.

You are a "heavy-hitter", Vancarbon. Agree with all.

attack again

A "chocolate eye" (back door entrance) Scott Bessent finally proved his "back door entrance" is soft & tender, and welcoming any tough, real, rough, strong, gross, man-kinda person to prove he is a real PUSSY.

Typical movie scene of goons trying to harass a gentleman

If only we knew the half of it.