Treasury Secretary Steven Mnuchin‘s strange announcement late Sunday that there was no reason to worry about bank liquidity is being seen as responsible for extending market loses Monday morning as the DOW plunged more than 400 points less than an hour after opening.
— CNBC Now (@CNBCnow) December 24, 2018
Secretary Mnuchin is being called an “idiot” and “clueless” by award-winning winning economist Paul Krugman.
Dartmouth Economics professor Danny Blanchflower, who is a Bloomberg TV contributing editor, called for Mnuchin to “resign,” saying posting the statement on banks was the “dumbest action” he’s ever seen by a Treasury Secretary. He also called Mnuchin a “moron.”
This is the dumbest action I have ever seen by a TS resign https://t.co/0BF4VrwF5N
— Danny Blanchflower (@D_Blanchflower) December 24, 2018
Dow drops 300 points following its worst week in a decade – CNBC Mnuchin push down now clear we have a moron as a treasury secretary https://t.co/sxRGmOmFu2
— Danny Blanchflower (@D_Blanchflower) December 24, 2018
Mnuchin’s statement on banks caused many to worry about banks, despite there having been no concerns about banks. In short, he created and introduced another reason to worry for markets that are on track to deliver the worst December performance since the Great Depression. Last week alone was the worst week for the DOW in 10 years.
Mnuchin posted his statement from his vacation in Cabo San Lucas, Mexico.
As of this writing the DOW is down 313 points, and very volatile.
image via Wikimedia
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Trump Throws Tantrum: Republicans Will Not Vote in 2022 or 2024 ‘If We Don’t Solve the Presidential Election Fraud’
Donald Trump has issued another threat, but this one may make some Democrats happy. The former president, claiming to speak for the entire 29 percent of Americans who identify as Republicans, says none of them will vote in the upcoming 2022 midterms or 2024 presidential election unless the 2020 voter “fraud” – of which there was essentially none – is not resolved.
It is an empty threat and one but one that could easily backfire, just as his months-long campaign of lies about mail-in ballots ultimately kept some GOP voters from casting a ballot last year.
“If we don’t solve the Presidential Election Fraud of 2020 (which we have thoroughly and conclusively documented), Republicans will not be voting in ‘22 or ‘24. It is the single most important thing for Republicans to do,” Trump said in a statement.
To be clear, there was effectively zero election fraud, and about 60 courts across the country agreed.
It’s far too early to get anyone to commit on voting or not voting 13 months from now, or three years from now, but the former president, who many believe will run again in 2024, isn’t doing democracy any favors by claiming to own the ballots of tens of millions of Americans.
‘Stupidest Thing I Have Ever Read’: Madison Cawthorn Scorched for Wanting Cryptocurrency to Be ‘The New Gold Standard’
U.S. Rep. Madison Cawthorn (R-NC) is getting mocked yet again, this time for suggesting the United States and the rest of the world should tie all our currencies to highly volatile, all-but-totally-unregulated, and environmentally damaging cryptocurrency.
Why do we not use cryptocurrency as the new gold standard?
— Rep. Madison Cawthorn (@RepCawthorn) September 30, 2021
Doing so would also harm America greatly in other ways. The U.S. dollar is “the world’s reserve currency.”
It’s not going well for Cawthorn.
It’s best if you don’t talk. You are very dumb.
— The Hoarse Whisperer (@TheRealHoarse) September 30, 2021
Man who failed out of his first term of community college has thoughts on monetary systems.
— Creamy Center (@creamy_center) September 30, 2021
Tell me you know nothing about cryptocurrencies or the gold standard without telling me you know nothing about either 😉 https://t.co/vzWZBQ7olN
— Cian Twomey 🌐 (@cian2me) September 30, 2021
Can you tell us which class at Patrick Henry College you learned about the gold standard and your reasons for having it and replacing it? In particular, since we have not used the gold standard in 50 years, why do you bring it up?
— Bret (@whyamidoingtwtr) September 30, 2021
Wow. This is actually dumber than what Ron Paul used to say. https://t.co/mVirdAIXI2
— Matt Winfough 🇺🇸💉 (@MattWinfough) September 30, 2021
Do you even know what cryptocurrency is? Explain how value is created. I’ll wait.
— Rich🗣 (@DLiberalFLMan) September 30, 2021
Is that how the anti democracy lobbyists are paying you? Someone needs to look into this.
— HeyPeterMan (@PTOTHEK4) September 30, 2021
I am no economist but I thought the whole point of the gold standard was that the value of gold stays relatively stable over time
Cryptocurrency is wildly volatile and would be the exact opposite of what you would want
Also the gold standard hasn’t been a thing since WWII iirc https://t.co/bYZwEhLqDE
— Board-Certified Rat Bastard (@coprofish) September 30, 2021
Guys, I found it. The WORST contribution to the internet today.
— Brandi Bennett (@bbennettesq) September 30, 2021
because it isn’t backed by anyone or anything genius
— Bob (@BTWOM007) September 30, 2021
Probably the stupidest thing I have ever read, and everyone else is stupider for having read it. https://t.co/LvkFrHgx45
— Miles (@miles503_) September 30, 2021
‘Let Me Explain to You Again Peter How Our Process Works’: Psaki, Growing Tired, Forced to School Doocy Again
Since January White House Press Secretary Jen Psaki has patiently informed Fox News’s Peter Doocy of facts in a wide variety of issues, deftly taking his uninformed questions, knowing it is likely the only way the Biden administration’s words will be broadcast to far right wing viewers.
But Psaki appears to be growing tired of Doocy’s attempt to twist facts to meet his agenda.
On Monday, Doocy once again tried to conflate the administration’s efforts to end the coronavirus pandemic with undocumented migrants entering the country illegally – forcing Psaki to once again school the 34-year old Fox News personality.
“What’s going on at the border? Is somebody asking the foreign nationals who are walking in Del Rio, Texas and setting up camps on this side of the border for proof of vaccination or a negative COVID test?” he asked, despite his network’s daily on-air opposition to so-called “vaccine passports” and even the vaccine in general despite having a corporate policy mandating proof of vaccination for employees or daily testing.
“Well, first of all I can re-address for you or re-talk you through what steps we take,” Psaki offered before Doocy interrupted her.
“Compared to the policy for people who fly into the country. So, if somebody walks, into the country, right across the river, does somebody ask to see their vaccination card?” Doocy in a staccato voice queered.
“Well, let me explain to you again, Peter how our process works,” Psaki, losing patience, replied. This is not the first time he has made this comparison.
“As individuals, as individuals come across the border, and they are both assessed for whether they have any symptoms, if they have symptoms they are, the intention is for them to be quarantined. That is our process, they’re not intending to stay here for a lengthy period of time, I don’t think it’s the same thing. It’s not the same thing,” she said as Doocy tried to talk over her.
“These are individuals, as we’ve noted and as we’ve been discussed, we are expelling individuals based on Title 42, specifically because of COVID, because we want to prevent a scenario where large numbers of people are gathering, posing a threat to the community and also to the migrants themselves. So those are the policies that we put in place, in large part because, again, the CDC continues to recommend title 42 to be in place given we’re facing a global pandemic.”
Jen Psaki explains to Peter Doocy like he is a four-year-old the difference between Haitian immigrants who are being deported and unvaccinated people flying on airplanes. pic.twitter.com/iBcIRqVX8L
— Sarah Reese Jones (@PoliticusSarah) September 20, 2021
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