etc

But what im asking is why under trump did it drop below 7.5 percent and then keep dropping when historically its never done that

trump* not drop

Because Trump is a wizard

aggregate demand has kept going up

normally, we get a counter cyclical policy

trump was aganist t, he wants negative rates

that's a problem which will make next crash bigger, powell isn't caving on negative rates, YET, we'll see

by some measuers, 'jobs' have gone up, but 'hours worked' gone down

https://nypost.com/2020/01/06/qassem-soleimanis-dead-body-flies-coach-back-to-iran/

Okay, but what im getting at is that it was policy that kept unemployment going down right?

it's the lack of the usual countercyclical

which is policy

sort of but primarily it's because there is no headroom

when rates are already near zero, there is nowhere to cut

so since there was nowhere to cut, he went negative?

the US has not done that yet, but Trump wants it. europe has, but it doesn't fix the issue

whats the issue

monetary policy is the wrong tool, but it subsidies certain groups so we keep doing it

letting the recession happen but using fiscal policy to 'catch ' people is the sensible policy, but we get ideological fights over it, alongside some savvy economic actors that like the boon they get under monetary policy

https://foreignpolicy.com/2020/01/06/trump-administration-blocks-iran-foreign-minister-zarif-addressing-un-security-council/

Zarif shittalked Trump on Twitter and got barred.

But im still curious as to what the issue is; you're saying monetary policy is the wrong tool, but for what?

trump tax cut was really aimed at the wrong people, and the salt deduction change was dirty

well issue is, we are inflating the current bubble longer than 'necessary' , borrowing from the future

so the national deby

debt

nah national debt isnt a problem, it's the asset bubbles

and PRIVATE debt, which is not that high for households(rate) but is bad for corporate

bond market watches know this, but it doesnt hit news much

repo market blowup is related

I don't blame Trump for the technicals, but he did bring into office the usual types of people. the financial swamp

AOC and Bernie by contrast have much better economic advisors

that's too far left for me lmao

it's not about left or right, it's just about the mechanics of the system

their advisors understand it, the orthodox peolpe Trump brought in either dont or they do and are bad faith actors

Powell probably the latter

or else we'd have negative rates by now

I'm not a psychologist, but those who have talked about it think Trump really wanted that mainstream approval, the Goldman Sachs types

same way he craved the approval of Israel and Saudi Arabia