21 Burst results for "Judy Shelton"
"judy shelton" Discussed on X96
"The Federal Reserve Board. President Trump has given in another try and it's closer to victory than previously. The nominee in question. Judy Shelton is known for taking long discredited positions on the monetary system. Makes Mr Trump's earlier rejected choices seem almost conventional, among, among other heretical stances, she has supported the abolition of the Federal Reserve itself. Putting her in a position to undermine the very institution she is being nominated to serve. You mean like every other appointment, the President Trump is made or try. Why do we need a central bank? Ms. Shelton asked in a Wall Street Journal essay. She wants monetary policy set by the price of gold. She wants to return. To the gold standard. Not this again a long abandoned approach that would be akin to a Supreme Court justice, saying We need to go back to the code of Hammurabi. We? We need to go back for two on Ivor and eye and a tooth for a tooth. So remember that name Judy Shelton. She gets on the bed. We're doomed yet. Well, it doesn't have unilateral. We have a really bad, but still there's enough of these people around him that let it go through. I mean, look what he's done so far. And if he's reelected, say goodbye to America, and I'm not exaggerating. All right? AH, sports weather traffic should be surprised that when MBA games to start MBA players will kneel during the national anthem. It's part of the players, social justice efforts around the NBA's restart. What's that going to look like? Well, it may start tonight. With the very first game of really game that counts, not a scrimmage in the very first game for the MBA is the Jazz versus the Pelicans, and it looks like they're talking about kneeling around the black lives matter. Words on the court, So it'll be interesting to watch today. The N BA has always for a long time has been very Politically involved and allowed their players to be politically involved. They have ah I can't remember how many. But there are a few Approved messages that the players could have on their jerseys. And I think Donovan Mitchell pit and they could pick which one they wanted. I think, Donovan McNabb, Mitchell picked say, Say her name for Briana Taylor. I think that there's a bunch of moment so that would be interesting to watch tonight. End Toa Watch some basketball. It's an early game for 30 this afternoon. I guess that'll be shown on TNT and a bunch of other places. Several places you can see it. Weather. Today. 98 0 that's so hot. Oh, you don't know what Tomorrow 101 Saturday 100 to you have to ridicule us when you do the weather. Do you have to traffic? You've gotta crash north bonus are 36 near Village Boulevard and Stansbury Park the left lane in both shoulders or blocked only one right lane open. Traffic is backing.
"judy shelton" Discussed on WTOP
"This is a Bloomberg money. Many stocks began the week with a modest game trader Cautious ahead of the feds to day meeting that starts tomorrow. The DowJones Industrial Average climbed 115. The S and P 500 gained 24. The NASDAQ jump 173 business was better than expected at US factories last month, the government says orders for durable goods jumped 7.3% after more than 15% gain in May. It's a sign that manufacturing is stabilizing. As airlines try to remain afloat amid the pandemic. They're pledging everything from their planes to their frequent flyer programs, even their brands to secure additional funding. The industry is anticipating a long recovery. The nomination of Judy Shelton to the Fed is on increasingly shaky ground main. Susan Collins is the second GOP senator to oppose the nomination, citing Shelton's early your statements questioning the need for an independent fit. Larry Kowski. Bloomberg Radio. We'll still ahead tonight. Here on W T o P Tokyo stocks first of all little hire other Asian markets are up by about 1% and still ahead. We're going to take a look at the final respects. People are paying for Congressman or to Congressman John Lewis had the Capitol building tonight, and Senate Minority Leader Democratic Leader Chuck Schumer says the latest Republican proposal for pandemic financial assistance Is what he calls weak tea will have the latest ahead. It's 8 26 The following is a paid commercial message. Superheroes are usually fictional characters like Superman and Wonder Woman, but it vehicles for change are superheroes are.
"judy shelton" Discussed on Newsradio 950 WWJ
"KEY Has your Bloomberg business report. It was a mixed a higher day for stocks. Technology, shares of breather, dragging the NASDAQ lower. Jones Industrial Average gained 160 S and P 500 picked up five and NASDAQ tumbled 87. Snap is lower in late trading. After daily user growth, it's Snapchat fell short of its forecast. Snapchats daily active users increase by 17% over shadowing a better than expected second quarter revenue gate. There will be fewer people working in the friendly skies. United Airlines says more than 6000 employees have accepted offers to leave the company is it rushes to cut costs? United is bracing for a choppy recovery from the pandemic. Judy Shelton is a step closer to being confirmed to a seat at the Fed. She won approval by the Senate Banking Committee, despite questions about her qualifications, Second nominee Crypt Sister for Waller was also approved. I'm Larry Kowski with the Bloomberg Business Report on W W. J. NewsRadio 9 15 and lottery numbers in the Michigan State Lottery your daily 3093 and your Daily four is 7865 W W J NEWS time. 9 27 Will it rain and Wind? Will it rain? That's the better question. We'll check traffic and weather together. Next on Ly Wendy's two for five has all the Chicken Ukraine choose from the crispy homestyle Chicken.
Senate Banking Committee Approves Contentious Nominee Judy Shelton for Federal Reserve Board
"We begin in Washington. Judy Shelton, President Trump's contentious picked for the Federal Reserve sport of Governors. Was cleared a key hurdle to confirmation by winning the approval of the majority of the Senate Banking Committee. She was back in the party load a party line vote today 13 to 12 committee also voted in favor of Fed nominee Christopher Waller, currently director of research at the ST Louis Fed. His nomination past 18 to
"judy shelton" Discussed on WNYC 93.9 FM
"The evening at two points during the day people in parkland will observe a moment of silence at ten seventeen AM in honor of the seventeen people who died and seventeen more who were injured and again at the minute the shooting began two years ago two twenty one PM for NPR news I'm Jessica big man in Miami two Republican senators have voiced concerns about one of president trump's picks for the federal reserve board a third senator says he is undecided on the nomination and B. R. Scott Horsley reports that could spell trouble for fed nominee Judy Shelton a single no vote for a Republican on the Senate banking committee could be enough to torpedo Judy Shelton's appointment to the central bank's board of governors Shelton got a bipartisan grilling during her confirmation hearing lawmakers questioned her past support for the gold standard man with her approach to monetary policy is too partisan to be trusted democratic senator Chris van Hollen asked why Shelton oppose cutting interest rates when the US was trying to dig out the Great Recession but supports cutting rates now when the economy is already in good shape the only thing that has changed is who's in the White House a second truck nominee for the fed board Christopher Waller got a warmer reception from the banking committee he appears headed for easy confirmation Scott Horsley NPR news Washington you're listening to NPR news from Washington this is W. NYC in New York I'm Richard hake good morning it's eight oh four thirty three degrees fair skies right now in New York City get the gloves hats and scarves out because it will get colder today temperatures expected to fall to around twenty degrees by five o'clock and then drop down to nineteen degrees later tonight the acting homeland security secretary.
"judy shelton" Discussed on KCRW
"Thirteen hundred deaths the number of infections in China is nearing sixty thousand two of president trump's nominees to the federal reserve appear before the Senate banking committee this morning NPR's Scott Horsley says one of them has faced some criticism critics complain Judy Shelton thoughts on monetary policy appear to be guided more by which party controls the White House than standard economic theory for example in the early part of the decade when the country was still digging out of the Great Recession she criticized the fed for keeping interest rates low now even though the economy is on relatively solid footing Shelton wants lower interest rates she's echoing the position taken by president trop the president's other fed nominee is Christopher Waller with the St Louis Federal Reserve Bank this is NPR news from Washington a group of senators is raising concerns about alleged human rights abuses in Indian administered Kashmir ahead of president trump's visit to India later this month hashish me to pop talk reports from Mumbai the lawmakers are concerned about threats to religious minorities the full lawmakers two Democrats and two Republicans have requested secretary of state Mike von Baeyer to look into the restrictions imposed by India English meet more than six months ago the Indian government shut down the internet and dish meat and cancel the state's out on me the government took some ambassadors to bush meat and a tight security but foreign journalists are not allowed to go there the senators also highlighted and you Indian law which excludes Muslim refugees from getting fastrack citizenship critics accuse prime minister during the movie of being anti Muslim and of cracking down on protests against the law despite these allegations president trump will be visiting all the in India later this month for NPR news I'm search me the product in Mumbai Libya's civil war is now nine years old in an effort to bring it to an end the U. N. security council is endorsing a plan designed to halt the violence between rival governments it includes a call for all countries to honor you an arms embargo on Libya yesterday a security council vote was fourteen to zero with Russia upstanding Russia's you an ambassador says Moscow has serious doubts the plan can be implemented I'm David Mattingly in Washington.
"judy shelton" Discussed on Bloomberg Radio New York
"Shifting production I serve China rule close to to to to the U. S. grace in theory but in practice the production capacity of China is immense the justice capability of China is super and it's hard to replicate anywhere else in the world and that was H. S. B. C. C. E. O. Noel Quinn speaking at Bloomberg new economy form in Beijing now turning to the US one of president trump's picks for the fed isn't so sure about central bank independence we've learns the private comments made by Judy Shelton to a UPS executive last month she's calling into question whether it should operate free of political influence the president hasn't formally nominated her and the remarks may complicate her prospects the hedge fund managers suffer the eighth straight month of redemptions in October more from Bloomberg dot courts now a report from E. vestments says investors pulled about six point two billion dollars from hedge funds last month it's an improvement from September but overall the trend continues to be negative so far this year redemptions are at eighty seven point nine billion dollars more than double last year clients are revolting against high fees and sub par performance Bloomberg data show hedge funds have lagged the broader market gaining just a six point seven percent through October in the same period it S. and P. five hundred has returned twenty three percent with dividends reinvested in New York on deck prisoner Bloomberg daybreak Europe and Tessler has unveiled its first pick up the some of the truck bring back at Ludlow reports from Tesla's design studio in Los Angeles the truck starts at thirty nine thousand nine hundred dollars can do north to sixty in two point nine seconds in touch more than fourteen thousand pounds the futuristic boxy shape is form from the same otra reinforced steel SpaceX plans to use in a starship the problem is it may be too new age unless investors here concerned what resonates with the coal truck buyer but they'll have time just to it over the side the truck won't go into production until late twenty twenty one in Los Angeles at Ludlow bring back daybreak here and have a chat with minus on TV about this way she compared the attempts to shatter the glass to the two of us having to go with a sledge hammer about headlong into the top of the show and I said what does not make a producer then the pickup truck because they they shopped we should save it wasn't seen it it's a great bit of video the trucks suppose the shop windows shattered twice with a metal bowl test wow hi yes not good anyway let's bring in something much better and much more secure and much safer nicely.
Seven Trillion Dollars, Eight Years And Two Percent discussed on KNX Evening News
"Right now though the federal reserve cutting a key interest rate for the first time since two thousand eight even though the economy seems to be humming along just fine so one of the reasons for the cut and how will it will it impact everyday people that means like you and me with us to explain as Ron insana senior analyst and commentator for C. N. B. C. and host of the markets score board report so how does it affect you and me well I would think not a lot I mean except that the stock market was down about three hundred points today so in the short run Walker was a little confused by the feds commentary from from church a Powell is the fact that you said cut a quarter point they're gonna stop shrinking the size of the balance sheet which is going to put some downward pressure on long term interest rates for the average individual refinancing a home more seeing some interest costs come down is is is a likely consequence of this this is really trying to ward off a couple things number one is the impact of the trade war that we're having with China on global manufacturing which is slowing that sector not only of the global economy with the domestic economy the world economy is generally weaker so the fed is trying to make sure that that doesn't in fact our economy and inflation's but below the fed's target now for eight years and they want to make sure that inflation is up a not so if we ever slip into another recession and something we will but they will not see us deflate like we did in two thousand and eight and see prices fall which could lead to a deeper recession than than you would normally expect at this point the economic cycle so you cut now is a kind of insurance policy against a downturn but they were watching the words right and that's why the markets fell and what were those words that concern people today the words were that the fed was undertaking a mid cycle adjustment which the wall market the stock market a particular interpreted to mean is a one and done cut that the federal was just trying to take back the December hike where they might have gone too far in raising interest rates and that we probably shouldn't expect more rate cuts for the beginning of a new rate cutting cycle and then a little later in the news conference a J. Powell the terminal said had he walked that back a little bit suggesting there could be another one or two cuts coming no more interest rate increases will likely what the market was somewhat confused by the presentation which is why the US stock market fell as much as it did and yield on the ten year treasury fell to just above two percent two zero one which is pretty low so again that that may have some impact John certainly on mortgage costs on on the ability to refinance and and again to an extent keep the economy humming along the US economy is doing reasonably well the rest of the world not that's what the feds trying to inoculate this economy against run in the in the long term don't businesses need to be weaned off of this whole idea of our very low almost some cases nonexistent interest rates well yes and no I mean it is in the best of all possible worlds the fed would have been able to fully normalise interest rates but when you look around the world there's a record thirteen point seven trillion dollars of government debt a lot of it in Europe it carries negative interest rates in other words if you're going to learn that the German government money you're gonna pay them over a third of a point to do it if you get on the Swiss government money you're gonna pay them over a half point to do it rates are low around the world this is a global phenomenon that has to do with a lot of different things not just slowing growth the demographic pressures pressures that are holding back potential economic growth around the world technology is creating disinflation there are pockets of financial deflation or falling prices in certain parts of the world so with the world having interest rates in in many cases negative the fat still is keeping interest rates positive it's it's hard to pull the way that kind of centrifugal force that's pulling rates down around the world is pulling US rates down as well how much does the president's commentary come into play here the fed says not Ali yeah and and and I I would agree with the fed and we saw two dissenters among the batteries are government governors today who voted to keep rates unchanged and then somebody would be two of them might be inclined to raise rates in the future not that they can out vote the current board but but right now I think Jay Powell's doing a very good job of navigating the politics of this now there's some question as to whether or not the president might want to trade war to go on longer to force the fed to lower interest rates that's a perverse way to conduct the both trade and interest rate policy but this president has a you know conducted himself in a normal fashion when it comes to economic policy anyway I don't mean that as a pejorative he's he's moved away from normal conduct of policy in a in a variety of different ways so you know I think the feds do a pretty good job of threading the needle I probably should have taken the December rate hike back they probably unless there's some external shock and there's the risk of that happening somewhere down the road should do much more in in the way of cutting rates the one thing I would do two things I'm worried about though number one president trump is trying to pack the fat with people who will lower interest rates irrespective of the economic environment Mister Waller from Saint Louis seven Judy Shelton at the European bank for reconstruction and development both agree with the president that rates should at right now for no reason go considerably lower maybe back to zero and and and to that the the the the policies of the president are creating an environment in which the economy can grow as fast as it should this trade war could be conducted much differently and it's really holding back economic growth and putting global manufacturing at risk of a recession so we have a couple different problems here that need to be dealt with and unfortunately they they may not go in a direction that that really favors the right policy at the right time Ron insana senior analyst commentator for C. N. B. C. host of the market
"judy shelton" Discussed on WAFS Biz 1190
"The global economy how I mean hi on some level says none of us in this house being seen in global financial markets one can use to pay close attention to the effects of these developments on the grounds of economic activity and prices now I am P. capital Shayne Oliver is still with these that I myself from Sydney Shane we have to start with the fed obviously Judy Shelton says she would have pressed for more more earlier the majority of the market now expecting a twenty five basis point cut of when the FOMC meets next week is the cutting now pro active or would it have been better for them to wait for more data and maybe start cutting rates it later in the year maybe the fourth quarter I think one should say this is the pay tied yet insurance much as they did sigh in nineteen ninety I when LTCM ran into trouble in the U. S. bottom line is you have growth is still strong unemployment is very low inflation is belied target but not dramatically side of the one point six one point seven percent compared to retire to take the set is not a massive short full size I think this is really about the paid site there are these threats to the growth that look a lot of which relate to president trump's on policies intensive tried and we still have low inflation were below target inflation Naples is a cash prize to tie cap insurance that's the way I say it and when you're doing insurance cap you can probably afford to do the twenty five not the fifty that some of them talking about which I think is what I'll do twenty five points whether it's probably active or not I'd I'd site is pro active to the extent the US economy.
"judy shelton" Discussed on WAAM Talk 1600
"More visit aggro liquid dot com operation freedom president trump with someone forward to be on the federal reserve board her name is Judy Shelton rob do you believe that significant and if so why well I mean she is known to be an advocate of the gold standard any hand a return to down money in America it's a welcome development returning to the gold standard I wouldn't hold my breath I believe that it's going to happen anytime soon Sunday afternoons from two to five one one sixteen hundred and ninety two point seven FM I guess I guess so somewhere in Michigan an unusual name welcome back hi I just posted a meme and well I could wind up in Facebook jail we'll see what a coincidence comparing **** to Democrats **** to.
Powell assails gold standard supported by Trump Fed nominee
"Problem with the gold standard for the left where the U._S. dollar would be anchored to a standard in gold is the left hates this idea joe and why because it takes away their ability. This is why they're freaking out of a trump's new pick on Judy Shelton she spoken positively about the gold standard to spend us into oblivion. The left loves the idea of of our money not being anchored to anything so the way of saying more primitive gold standard would work joe is we would only be able to create new money based on the availability of gold and the availability of that gold would be exchangeable when you can walk in with a dollar a U._S. dollar and say all right well. This isn't a more again primitive gold standard S- call it a hard gold standard joe would be able to walk into a bank and say I want to exchange my U._S.. Dollar redeemable in gold for I don't know whatever it may be a nail clipper worth their goal wouldn't even be worth that if you had a thousand dollars technically unikely you could walk into a bank or and get your money back in gold that would be a hard gold standard right. That's not really the way the gold standard would work in a modern economy but that simple analogy explains plains appoint that it would do what show it would constrain the government's ability or the Federal Reserve they you know it's not really a government entity kind of it is but the Federal Reserve could not create new money unless they found new goal which would limit their ability to print new dollars. Why do the Democrats hate this and why are they panicking about Judy Shelton and the media people because folks the Democrats want to monetize debt? They WANNA spend us into oblivion like they're doing now with their twenty. Two trillion dollars of accumulated government debt they want to spend us into the Phantom zone and the way they know they can never pay this off. We're not going to be able to pay off this debt so the Democrats and the Liberals Liberals want to be able to print money they call this modern monetary theory. I call it steaming piles of hot garbage. Just like the Flynn case right they want the Federal Reserve to be able to endlessly print new money not constrained by a gold standard to pay off all debt now. If you're listening in here on send you like Joe. What's the problem that sounds great so the government could spend money on social programs social security Medicare Medicaid chip food stamps endless government hermit pork projects and basically can print money? What's the problem Dan the Problem Ladies and gentlemen is endlessly print new money because you're not constrained by any kind of a gold standard and you're just do your measure of money keeps going all over the place right right yeah money buys? This money buys money buys. This money buys this. Why because it's more money chasing the same products which requires the price they go up which means the value of your money goes down if the price
"judy shelton" Discussed on WAFS Biz 1190
"From town hall dot com I'm wrong drawstring president trump announced to economists who favor cutting rates to be is intended nominees to the fed's board of governors financial analyst Hillary Kramer says one of them is Judy Shelton excited about new Shelton because not only should adviser trump's campaign filled in the transition team but she is aligned with president trump a matter of fact believing that if necessary should potentially drop to zero Kramer also likes the selection of Chris Waller specially for his current services with the fed to will support lower borrowing costs he comes out of the Federal Reserve Bank of St Louis where he's been research director Kramer edits the financial newsletter game changers in cooperation with Salem media to southern California desert community scurrying to make repairs after Thursday's magnitude six point four and Fridays seven point one earthquakes which crested neighboring trono were hit hard by the quake many in trona without water crews are still patching of cracked roads officials are urging residents of both towns to boil water for a couple weeks once services turned back on acting homeland security secretary Kevin mac lean in Sunday defended conditions at U. S. border patrol stations says his department's been responding to a challenging situation along the southern border everyone in the entire chain of command was worried about the situation for children that's why we built us outside of facilities a thousand spaces are ready we're building more they're going to be opening next week we're trying to provide as much space and is much nicer setting as we possibly can while children are Cassidy mac lean in says reports of bad conditions at a border station in Clint taxes have not been substantiated McLean and was a guest this week.
"judy shelton" Discussed on Steve Forbes: What's Ahead
"Should be a fun night and it's a nice relief from politics but this week there's gonna be politically controversy despite the all star game president trump announced that he's appointing to new people to the federal reserve one of them miss perp judy shelton i know her she appeared and are movie in money we trust which appeared on public television you could find it in money we trust dot org she's got all the credentials phd and past experience she'll make it excellent member of the fed because she does does not and i underline the word does not believe the prosperity causes inflation so even though she'll be only one member of the federal reserve board she'll ask the hard questions she'll help them break out of their cocoon where i think the prosperity something the beef suspect up instead of.
"judy shelton" Discussed on CATS Roundtable
"Good morning america this is the cats roundtable trunk catchments he's here the big fourth of july week this week and witnessed a tell us about the economy what's going on the economy we have one of the leading economists in the country stephen moore good morning steve how're you john i'm doing well thank you very much i hope you've had a great a holiday joy fourth of july weekend challenge tell us now a the g twenty was a last week a guy in fact there's some progress has been made a there's a discussions were north korea again give us your thoughts on what's going on in china and north korea etc well john i think the big story of the week i mean those are all you stories north korea and you know what went on with g twenty meeting but by far the most important meeting was the one between president trump and president xi of china a hand they tentatively totally tentatively have reached a deal on trade is it the best deal ever know you know trump got some concessions from china i think we would all like to see more concessions but the most important development here john is it looks like there will be for at least the next year or so a truce on the trade dispute a lowering of the tariffs on both sides of the pacific ocean and if that is correct that's great news pretty economy pitch great news for manufacturers and farmers and job as i look at overall you us economy you and i've talked about this week's passion and dumped the tax cuts i love the deregulation i love what we're doing and energy policy i love the pro business environment that we've set washington under this passionate the dark cloud has been the trade war with china as if we get this resolved a four now i think trump is looking at three to four percent growth in two thousand twenty and i think it will be very difficult and that kind of bullish a economic environment for any of these democrats delay it fell lay a finger on him any election 'em steve a last wednesday may be a labor results came out news time two week what do you tributes to economy weaken certainly in has it's been a with the start of the summer has been week a d a manufacturing has been down a bit c a v a factory orders have been down they up the trucking shipments had been down a little bit not not in a in a serious way but in a way that's somewhat concerning and i think that see aftermath of this of this of this trade war i've talked to people like that's that's the ceo of fedex in one of our major major countries and companies that have actually you know transporting goods and services all over the world and he said look there's no way of sugar coating that's the trade war has has heard our business and that's just one business so this is getting the point i was making is it there's been a bit of a slow down the economy we've gone from three percent growth down to about two am i believe now this this trade war has been resolved and by the way i don't wanna over solve this too much because you know it's just a handshake agreement at this point so they have the they have their brand the find details and that's tough with china but assuming things go well while on this i think we get right back on the three percent growth path that we're on the fourth europe what's going on in europe as tommy gun any member they dropped up interest rates in europe a new a new central banking a chair in europe well how's that i just think i think you're up this is struggling no question about it they had you know one percent growth now now for the last several years they can't seem to shake it off and i think it's because they've got just too much government in a in europe they have too much of a centrally planned economy in many of these european countries trees an m and that's really hurt and you know what's so interesting is if you listen to the democratic debates and i've watched some of the limit everyone the democratic party seems so wanna make united states much more like the socialist the countries of europe an john that is not a model is working really well right now we were going much faster than they more centrally planned a socialistic a even the nordic countries were doing better than they are and so i think there's a cautions flagged for americans who think oh socialism is a wonderful thing and if we all have all these free things like healthcare and free trout childcare and and free college tuition somehow that's gonna solve our country's problems hasn't worked out so well in europe but i do think also that you know if united states economy springs back to life is i'm expecting it will later this summer that benefits all other countries that benefits europe that present benefits asia that benefits mexico and central america i mean we are the world economy john and i think the slow down here has and by the way i don't wanna make too much of it but it's slow down a little bit that affects these other nations is well now these interest rates is a ten year tbo cbs's dropping and dropping in the united states what do you expect the fed to do well first of all i am so pleased about judy shelton she is going to be the new a member of the federal reserve board the other person was chosen and i don't know much about so i can't speak up about him but chilly sheldon there's no jack kemp economists she understands money she understands growth she understands jobs she understands interest rates she's one of the world's experts on monetary policy she she thinks like you and i do john and the president said the fed has been way too tight and incidentally this is another reason i think we've seen a slight slowdown in growth v economy is because the fed is strangling growth with these with a with a tightening of the money supply judy it's going to be i think a breath of fresh air the fed needs the outrage time they need the cut rates by twentyfive this fifty basis points at their next meeting in a few weeks in july because i think these tommy is being hurt by a very tight labor a very tight my monetary policy a an and that's that's been negative it's been negative for farmers manufacturers and others as well as if they keep cutting rates stimulate the real estate industry especially a maybe homebuying homebuilding you mean the terms of interest rates yes well you know eight shots i mean you and i are old enough to remember that when you know do you remember when mortgage rates at twenty percent in nineteen eighty you know so you know we've lives in some some old swiss times in the past when very high interest rates just kilty economy a word blasted the living environment right now when with interest rates as low as they are i mean you could get us a thirty year mortgage now and a lot of areas for four percent interest rate which is a wonderful thing you interest rate on the ten year treasury bonds at right now is about two percent off so the low interest rates have been a blessing commie they need they mean the concept servicing are national that are much lower but i still believe despite these low interest rates the fed has been too tight they have to get more dollar liquidity indictee economy because john what's happening look at the dollar john the dollar is a strong as it's ever been everybody wants to buy dollars set is not accommodating that edits parade of the type type situation money that i think is choking off road now a you wrote a piece in the media reports and the congressional budget office it's be spending stupid usually that's right stupid you wrote in spending stupid what does that mean well you know the numbers just came out last week by the congressional budget office for the ten year forecast of what it will look like a over next ten years and this is just a kind of sticking a finger in the window and try to figure out where what direction things are going but it's it's the best a measurement we have and they're estimating the national budget deficits john will stay at about a trillion dollars a year year after year after year an and tried to make two points and he's a really important john for people understand 'cause there's so much misinformation if you watch the democratic debates every single one of them said we have these steps is because of trump's unaffordable tax cuts for the rich number one it wasn't a tax cut for the rich motion the benefits wants in the middle class but number two tax revenues tommy amount of money is is the government collects the federal government collects from the american people and businesses in two thousand eighteen the first year of the tax tax cuts were higher than any other year in american history and so far this year in two thousand nineteen they're going at it even faster pace so when you over in fact over the two year period tax revenues whip the tax cut john will be about two hundred billion dollars higher than they were before the tax cut now john this now is not too complicated right but this is telling us is we do not have a revenue problem revenues coming in just fine what we do have is overspending problem all i love the opposite problem we have in washington is a result of runaway government spending everybody's trying to get into the crypto currency market is this for real to me you know i i've told my a young ones is that a betting on crypto currencies like you you have a better chance at the blackjack table any thoughts on that i as you know i'm an investor now and i co founder of a new crypto currency company a that that is a that is called these central and we want to take a you know it's it's a great system or making financial transactions in india block chain environment you make these transactions you know with a click on you're on and you're a computer a this is a wave of the future aunt and what this is going to do john is gonna create new competition for government currencies i happen to think that's a very good thing both from a business perspective and also just policy advocate the fact that we've given all of the power to central banks over the world's money supply i think it's not healthy thing and so i'm very excited about the advent of crypto currencies which are again their currencies but they're not controlled by government entities and i believe this is the wave of the future john i feel like this is the new internet age that we saw in twenty years ago that will provide all sorts of new currencies that are not dependent on government and i think i think it's a very positive development steve moore a woman i have a whole separate show just on crypto currencies since you are a believer and i think be american public deserves to know more about so a book will have a separate showing that but have a great rest of the month of july weekend a and thank you so much for coming in filling in american public and on what's really going on.
Trump says he intends to nominate Christopher Waller, Judy Shelton for Fed board
"President trump announced two new nominees for the federal reserve board today NPR's Scott Horsley reports two of trump's earlier picks for the central bank were forced to bow out trouble is that Twitter that he plans to nominate Christopher Waller and Judy Shelton to the fed seven member board of governors Waller has a conventional resume he was an economics professor at Notre Dame and now serves as director of research for the federal reserve bank of Saint Louis Sheldon is more of a wild card she's advocated a return to the gold standard and also told CNBC last month she like to cut interest rates to zero within a year or two the president's last two fed nominees Stephen Moore man Herman Cain dropped out of contention before either man was formally nominated critics describe more and Kane is overly political putting the central bank's independence in potential
"judy shelton" Discussed on Rich Dad Radio Show
"Screwed up about money than you're justice screwed up as they are so that's why we archive at ed rich dead radiocom and have your friends listen to it and you'll hear some very wacky ideas about what money hits and once again you can listen to this rich dead radio program on i tuned or and joy on your time and your squat schedule and you can submit your questions to ask robert at rich dead radiocom once again thank you dr judy shelton and tom wheelwright has agreed to stay on so muscle was the first question our first questions a day comes from billy in lincoln nebraska favorite book ritz dad poured at says the trump tax revision if passed will go against a lot of your teachings on taxes for example adding fifteen percent selfemployment tax what's your perspective on his proposed del okay the reason i chose that i thank him for that question because this is what i'm talking about i don't even know what my for my thing is on taxes because i'm not a tax expert and most of you are getting tax advice from idiots and the purpose of having the rich debt radio program is you've got lesson to people who are credible who'll real why are in the fray you see this next book on coming out with his call fake and the reason most of us are in financial trouble is because we listen to fake teachers and what i have been spent my life doing is looking for real teachers and that's why we have tom wheelwright on this program because if i was talking to dr duty shelton about taxes i'd be blowing smoke and so the lesson for all of you who say i said this bear listen clean your ears out because i don't talk about taxes unless i talk about it through tom any combat yeah it's a really good point that billy brings up because okay so we had we have tom on the program he has a point of view he's telling.
"judy shelton" Discussed on Rich Dad Radio Show
"Also who go to school save won't get a job work hard vessel stock market and i just go a little wack lackey how do you understand how the rich are getting richer and paying less tax it's because as we've been saying enriched at the whole system is rig for the rich not the poor and middleclass i'm not condoning it i'm just giving you my observation comments kim well we've got two very special guest we have doctor judy shelton she's an economists her expertise in global finance and monetary issues she was part of trump's transition team and she is the codirector of the sound money project whose mission is and this is very basic sounds sounds like a novel idea mission is to promote the principle of sound money and raise awareness of what they see as inherent problems in the current monetary system our other guests as tom wheelwright he's a rich dead adviser on taxes and one of the smartest people and we know in the world of taxes so tom you had a question for doctor judy shelton right so so in the previous fragment uh uh dutch shell who you mentioned that uh what happened with all the money uh that corporations able to bat louise with our apple do this we saw a lot of uh big companies do this they took the money and what they did was they buy bought to act their stock instead of um expanding their capacity and so and never really flowed to the workers uh one of the criticisms of the new tax bill which by the way i don't share but one of the criticisms the new tax bill was that the corporations will do the same thing without money so i'm curious this to your take on that you think that uh we run the same risk with a with a reduction in the corporate tax rate i think there's always a risk but i think in the case of trying to trying to get companies to expand production by offering this very cheats money that they could borrow um that was so artificial i mean that's really engineering and i think.
"judy shelton" Discussed on Rich Dad Radio Show
"Isn't working that is if people really were getting higher wages and the turning around and find more household goods you would have seen the consumer price index go up and it didn't that should have told the people at the fed at the model had a problem and the problem it turns out is that companies borrowed the money but instead of expanding productive capabilities they bought back their own shares corroded that benefit and um and beat you have investors those same the people who can borrow at zero or one percent they were then then increasing their portfolios they were already rich but they could borrow for one percent and put it in the market and make ten or twelve and um big government found it really convenient so instead of helping the middle class or working people the benefits really flowed to a big big business a big government and big investors so once that goes rubber kill suck has rich dead ritish show we have two guest today with doctor judy shelton she was on president trump's transition on economic affairs and also tom wheelwright because was what has just happened is a new tax bill has come out with tax reform act has come out thomas also part was working in washington with eighty six tax reform act came out which again made the rich richer but screwed the poor and middle class and it is spent the point of view of the rich dad radio program or the rich at company faulders years the whole system is rig for the rich not the poor and middleclass which is why we have financial education so we come back will bearing hearing from tom as well as doctors shelton judy shelton on what you can do given that the whole system in my opinion is rig for the rich we are right back you're listening to the reachjed radio.
"judy shelton" Discussed on Rich Dad Radio Show
"So she was standing up on stage talking about how she's been part of president trump's transition team to bring sound money possibly gold back dollar role gold back bonds into the monetary system and i sat there and i said i said judy shelton he may be very smart person but you're also a dreamer i mean you know this this too much money being made via stupidity incompetence and grade i sat to listen as she wants to change the system but that's also why we have other guests is a rich that adviser tom wheelwright is also one of these a students in a wonders tens attack side because of tax us the tax change just came out under president trump what time is gonna tell you is that the tax law is written for the rich is not written for the poor and middleclass so the question for you again is not what they're gonna do not what the feds gonna do or whatever's going to do is what can you do and the question is what happens if you still drinking the koolaid and believing that saving money is smart when saving money his four losers so doctor judy euro anomaly because you touch postgraduate studies at stanford university you know which is as left does it can get and yet you're one of these elite economists who was talking about sound money i mean how does that to and how did you come on to this policy and what is your back row known what are your thoughts on the future the whole thing of two minutes well.
"judy shelton" Discussed on Rich Dad Radio Show
"He's going to affect all of us and the real thing nutting it out as you know at rich dead we keep it really really simple as we said enriched dead porta twenty years ago savers are losers and everybody i talked to him by going to save money not why the hacked which you save money if america the the u s dollar is the reserve currency of the world is printing it why would you save something that is being printed and in certain countries like japan ethics wits switzerland they have negative interest rates ms at all want your money and yet my man tadic get up and say oh you should save money you now answer ben franklin a penny saved is a penny earned light to tell you this today that might not be good advice so the question is what is president trump gonna do what is it going to attempt to do but more importantly what are you gonna do to have a very important guest today doctor judy shelton kimber you want us well did this is gonna be fascinating and and we've s judaean specifically for robert and myself to keep it very simple mcduck their judy shelton she's an economist with expertise in global finance and monetary issues she is codirector i love the name she is codirector of the sound money project at atlas network so we're going to be talking with her about what she sees under the trump administration and what she might do or predict would be best she's the author of fixing the dollar now why us money lost its integrity and how we can restore it she also is the author of the coming soviet crash sheep predicted the economic collapse of the soviet union in 1989 two years before it actually happened so she knows a thing or two about international money policy.
"judy shelton" Discussed on CNBC's Fast Money
"And you know whether the fed reports to anybody or not for example uh john taylor stanford economist at the hoover institute uh i think john would be a candidate for vice chairman if kevin uh if uh kevin wash were nominated to be chairman um john is a guy who likes the idea of the monetary rule uh he helped co author a congressional bill uh on that subject and he's been on the administration's list another person is judy shelton uh who does not like the trade off between wages and inflation she doesn't believe it he's also a market watchers she likes to watch commodity prices including precious metals reminds me of wayne angell and manly john were there on the fed so you know you've you've got a lot of possibilities hair and i i kind of like the idea of you know uh a war and a and a tailor or somebody i tell you know that it does not a uniform decision and these you're name's again i cannot say with any degree of certainty because i frap you don't think the decisions have been made but i can say that these are people that were on the list on the uh transition committee list remain subject to discussion inside the uh the highest levels of the white i larry things here with you appreciate it let's talk about the markets on top of this we had mornings out of washington that really move the markets the threemonth extension to the debt ceiling limit uh also helped rates really juice tom in terms of the year as well as a shorter and of course.