from link:
http://www.washingtonexaminer.com/year-one-list-81-major-trump-achievements-11-obama-legacy-items-repealed/article/2644159

Below are the 12 categories and 81 wins cited by the White House.

Jobs and the economy

Passage of the tax reform bill providing $5.5 billion in cuts and repealing the Obamacare mandate.
Increase of the GDP above 3 percent.
Creation of 1.7 million new jobs, cutting unemployment to 4.1 percent.
Saw the Dow Jones reach record highs.
A rebound in economic confidence to a 17-year high.
A new executive order to boost apprenticeships.
A move to boost computer sciences in Education Department programs.
Prioritizing women-owned businesses for some $500 million in SBA loans.
Killing job-stifling regulations

Signed an Executive Order demanding that two regulations be killed for every new one creates. He beat that big and cut 16 rules and regulations for every one created, saving $8.1 billion.
Signed 15 congressional regulatory cuts.
Withdrew from the Obama-era Paris Climate Agreement, ending the threat of environmental regulations.
Signed an Executive Order cutting the time for infrastructure permit approvals.
Eliminated an Obama rule on streams that Trump felt unfairly targeted the coal industry.
Fair trade

Made good on his campaign promise to withdraw from the Trans-Pacific Partnership.
Opened up the North American Free Trade Agreement for talks to better the deal for the U.S.
Worked to bring companies back to the U.S., and companies like Toyota, Mazda, Broadcom Limited, and Foxconn announced plans to open U.S. plants.
Worked to promote the sale of U.S products abroad.
Made enforcement of U.S. trade laws, especially those that involve national security, a priority.
Ended Obama’s deal with Cuba.
Boosting U.S. energy dominance

The Department of Interior, which has led the way in cutting regulations, opened plans to lease 77 million acres in the Gulf of Mexico for oil and gas drilling.
Trump traveled the world to promote the sale and use of U.S. energy.
Expanded energy infrastructure projects like the Keystone XL Pipeline snubbed by Obama.
Ordered the Environmental Protection Agency to kill Obama’s Clean Power Plan.
EPA is reconsidering Obama rules on methane emissions.
Protecting the U.S. homeland

Laid out new principles for reforming immigration and announced plan to end "chain migration," which lets one legal immigrant to bring in dozens of family members.
Made progress to build the border wall with Mexico.
Ended the Obama-era “catch and release” of illegal immigrants.
Boosted the arrests of illegals inside the U.S.
Doubled the number of counties participating with Immigration and Customs Enforcement charged with deporting illegals.
Removed 36 percent more criminal gang members than in fiscal 2016.
Started the end of the Deferred Action for Childhood Arrival program.
Ditto for other amnesty programs like Deferred Action for Parents of Americans.
Cracking down on some 300 sanctuary cities that defy ICE but still get federal dollars.
Added some 100 new immigration judges.
Protecting communities

Justice announced grants of $98 million to fund 802 new cops.
Justice worked with Central American nations to arrest and charge 4,000 MS-13 members.
Homeland rounded up nearly 800 MS-13 members, an 83 percent one-year increase.
Signed three executive orders aimed at cracking down on international criminal organizations.
Attorney General Jeff Sessions created new National Public Safety Partnership, a cooperative initiative with cities to reduce violent crimes.
Accountability

Trump has nominated 73 federal judges and won his nomination of Neil Gorsuch to the Supreme Court.
Ordered ethical standards including a lobbying ban.
Called for a comprehensive plan to reorganize the executive branch.
Ordered an overhaul to modernize the digital government.
Called for a full audit of the Pentagon and its spending.
Combatting opioids

First, the president declared a Nationwide Public Health Emergency on opioids.
His Council of Economic Advisors played a role in determining that overdoses are underreported by as much as 24 percent.
The Department of Health and Human Services laid out a new five-point strategy to fight the crisis.
Justice announced it was scheduling fentanyl substances as a drug class under the Controlled Substances Act.
Justice started a fraud crackdown, arresting more than 400.
The administration added $500 million to fight the crisis.
On National Drug Take Back Day, the Drug Enforcement Agency collected 456 tons.

Helping veterans

Signed the Veterans Accountability and Whistleblower Protection Act to allow senior officials in the Department of Veterans Affairs to fire failing employees and establish safeguards to protect whistleblowers.
Signed the Veterans Appeals Improvement and Modernization Act.
Signed the Harry W. Colmery Veterans Educational Assistance Act, to provide support.
Signed the VA Choice and Quality Employment Act of 2017 to authorize $2.1 billion in additional funds for the Veterans Choice Program.
Created a VA hotline.
Had the VA launch an online “Access and Quality Tool,” providing veterans with a way to access wait time and quality of care data.
With VA Secretary Dr. David Shulkin, announced three initiatives to expand access to healthcare for veterans using telehealth technology.
Promoting peace through strength

Directed the rebuilding of the military and ordered a new national strategy and nuclear posture review.
Worked to increase defense spending.
Empowered military leaders to “seize the initiative and win,” reducing the need for a White House sign off on every mission.
Directed the revival of the National Space Council to develop space war strategies.
Elevated U.S. Cyber Command into a major warfighting command.
Withdrew from the U.N. Global Compact on Migration, which Trump saw as a threat to borders.
Imposed a travel ban on nations that lack border and anti-terrorism security.
Saw ISIS lose virtually all of its territory.
Pushed for strong action against global outlaw North Korea and its development of nuclear weapons.
Announced a new Afghanistan strategy that strengthens support for U.S. forces at war with terrorism.
NATO increased support for the war in Afghanistan.
Approved a new Iran strategy plan focused on neutralizing the country’s influence in the region.
Ordered missile strikes against a Syrian airbase used in a chemical weapons attack.
Prevented subsequent chemical attacks by announcing a plan to detect them better and warned of future strikes if they were used.
Ordered new sanctions on the dictatorship in Venezuela.
Restoring confidence in and respect for America

Trump won the release of Americans held abroad, often using his personal relationships with world leaders.
Made good on a campaign promise to recognize Jerusalem as the capital of Israel.
Conducted a historic 12-day trip through Asia, winning new cooperative deals. On the trip, he attended three regional summits to promote American interests.
He traveled to the Middle East and Europe to build new relationships with leaders.
Traveled to Poland and on to Germany for the G-20 meeting where he pushed again for funding of women entrepreneurs.


see link above for more complete

>> ^lantern53:

Makes you wonder why so many are interested in whether Obama was born in the US when there are so many more important things to be concerned about, such as the national debt, the economy, foreign relations, why Ronan Farrow makes $115,000 a year pushing 'global youth issues' when the youth here in the US are chronically unemployed, why Democrats are avoiding their convention, Obama's 'laser-like' focus on jobs (lol), his record-setting golf outings and fund-raisers, why he won't meet with CIA chiefs or even his cabinet...
so much to be concerned about...


I'll say it again...change his skin color and name, leave his policies and actions exactly as they have been. Drop Obama 15 years in the past, and the Republicans would hail him as their conquering hero, the new incarnation of Saint Reagan.

His every action is that of a big-business Republican. His healthcare reform...a Republican-created plan. His economic advisors, from Goldman-Sachs and Wall Street, every one. His handling of the wars...nothing changed, just keep pumping money to the mega-corps we hired on no-bid contracts.

He IS a Republican, in all ways that matter. But to the Republicans, apparently the only ways that matter are skin color, a funny sounding name, and that he claims to be a Democrat. Actions are meaningless and count for nothing to them.

The first time I cam across Schiff was when he was economic advisor to Ron Paul in the '08 election. I took an intense dislike to him then and it certainly hasn't diminished hearing his tripe in this interview.

None of that shit would have had to been nationalized or bought if republicans hadn't deregulated banking and trade. Obama didn't want to nationalize anything, He did it because all of his economic advisor's told him the apocalypse would fall on America if he didn't pass the economic stimulus bill. Why is it that people refuse to use their common sense when they think about politics. The republicans are the majority of the problem, but they love to cry about how they are so damn responsible with money.

quantumushroom do you really believe Obama would have made a move at trying to buy the banks if they were not about to go bankrupt and potentially put the nation into a great depression. He is not a socialist, he is a realist, and Republicans love to victimize him for it, and convince people like you he is 'Socialist' 'Muslim'. It's silly and I feel bad for Obama he probably thought our country was better than that.

Ben Stein is no debater, he should stick to acting and game shows. Paul has a Jew chief economic advisor (Peter Schiff) who coincidentally also made Stein look ridiculous.

http://www.youtube.com/watch?v=2I0QN-FYkpw

Paul was also inspired by the Jewish economist Murray Rothbard. To say he hates Jewish people is retarded. I think Paul has seen enough evidence to suggest that Israel has undermined our ability to make sovereign decisions on some matters.

http://www.youtube.com/watch?v=iWLBhgTQ46o

I have come to agree that each country should really only be concerned about defending itself. We do for Israel what Israel needs to do for itself. No country is another country's sacrificial lamb. It's not the obligation of an American soldier to die so that an Iraqi or Israeli doesn't. At some point we have to accept that our meddling in foreign governments is easy propaganda for radical groups. It's clearly hypocritical that we endorse democracy while propping up dictators like Hussein and Musharraf.

>> ^jwray:
The United States federal government is not paying for its deficit spending by printing excessive amounts of money. It is borrowing instead. Inflation is at 3.66% and falling. It peaked at 5.6% in July, before the economic upheaval.


Oh really, is that why it takes 3x as many dollars to buy an ounce of gold today than it did ten years ago? Of course the government is printing obscene amounts of money. Stop picking and choosing little short term windows of time where the trend is not apparent, nothing goes in a straight line. Do you even know what monetization of debt means? If foreigners are no longer interested in buying our government debt (bonds) that the treasury issues every year, the Fed has to raise interest rates to lure them in, because that's the yield on their loan to us. But they're LOWERING THEM. Yields are NEGATIVE. You loan money to us, you will be paid back in depreciated dollars that buy less than what you had before you loaned. So now that foreigners aren't doing that, guess who has to step in and buy those bonds? The Federal Reserve. Except that money isn't someone's savings, it isn't backed by a product in the world. It's pure inflation, pure funny money. That's what's coming, their balance sheet is going into the TRILLIONS.

This is the symbiosis that enabled government excess. A tax is an honest appropriation, people see it and are far more likely to resist it. Inflation is arbitrary money creation in a back room that siphons value from existing dollars. You can pull a curtain over that, lie about how much you're doing it, and watch as people see prices go up 10% in health care, food, per annum with absolutely no idea what hit them. After all, the government weatherman says that prices only went up 3%.

http://www.financialsense.com/stormwatch/2005/0624.html

The calculations are a joke, after we left the gold standard in the 70s, they kept changing them to understate real inflation and welfare obligations so they could spend more and more without it being easily noticed. They no longer include homes, energy, or food. Also, they introduced a subjective concept called hedonics adjustment, which negates price increases as inflation by discounting an assumed increase in quality.

The most galling result of this Keynesian nonsense is it blinds people to where inflation is going. Keynesian economics is the equivalent of teaching astrology instead of astronomy. First, they change the definition of inflation to mean prices instead of money supply. The correct definition of inflation is an increase of the money supply with the common RESULT being higher prices. After doing this, they then categorize inflation (to them: prices) into "asset-based" and "goods-based," and tell us that they don't fight asset-based. But asset-based inflation is what causes bubbles in assets like homes and stocks. We want things we own to go up and things we consume to go down, of course, but we don't want our assets to go up from artificial demand created by inflation. That's an illusion. So when inflation goes into tech stocks or homes, nobody sees it as inflation. Not the Keynesian Fed Chairmen, not the Keynesian financial managers, almost anyone with a degree in economics was less reliable than A COIN FLIP. That's when you know when your "science" has a problem. And then boom, when it starts going into commodities futures after the implosion, it exposes the inflation at all once that people were previously blind to.

And then here's a guy like Schiff, Ron Paul's economic advisor and Austrian economist, who was warning the whole god damned time since 2000, telling people to get into gold when it was $275 and getting laughed at by every confused Keynesian educated retard on television.

http://www.youtube.com/watch?v=ucDkoqwflF4
http://www.youtube.com/watch?v=2I0QN-FYkpw

>> ^dtmike07:
Austrian economics has about as much credibility as scientology. They don't even believe in empirical evidence, for crissakes. Mainstream economics does't have a much better theory - essentially its an extended and mathematized version of Austrian economics. But at least mainstream economists know what the data says and use statistical techniques to analyze it. You know, like real scientists. And regarding the Austrian "theory" of the Great Depression - they pretty much pulled it out of their asses. Its just an attempt to blame the whole thing on the government, and exempt the free market. Austrian economics is a religion - the free market is God and government is the Devil.

You are 100% dead wrong on this. Keynesian "empirical data" is bogus, I've only scratched the surface on how they try to complicate simple concepts into a symbiotic swindle by redefining inflation, making up new terms, and it keeps blowing up in their face no matter who's in charge because that's the whole point. For you or Stukafox to even compare this problem to the firecrackers of banking panics (from fractional reserve lending, a legalized form of fraud that persists to this day with government backstops, an entirely different debate) is unbelievable, there's no proportion to a decade long depression and a bunch of shitty banks going under to remind people not to carelessly deposit all their money in banks.

Second of all, economics is a study of human behavior. Keynes was an idiot whose theories arose from a complete misunderstanding of what caused the great depression. He basically threw classical knowledge out the window and decided that economies needed central direction and stimulation by government. See, like the dumbfucks in this video, most people thought letting the banks fail was what caused the depression. It wasn't. It was what came before and after it. The inflation of the 20s was what caused the crash in the first place, you don't have a crash without a Fed-created bubble. You don't have withdrawal without being high on drugs.

But while withdrawal symptoms suck, they're actually the solution to the disease of the high. Hoover and Roosevelt saw the hangover as the disease, and began administering shock therapy. Over the course of many years, they raised tariffs, raised taxrates, and nationalized industry. The economy would have recovered, capital and jobs would have reallocated on its own. Instead, anyone who had any money after that crash had no incentive to invest or employ anyone, because now government was promising to take 90% of your profits if you made any. So unemployment got worse. The tax revenue the government did manage to appropriate, it used to pay for new government jobs that were extremely inefficient (being immune to bankruptcy, financed by theft, and having no competition tends to be an unproductive business model, ask the soviets). FDR also ordered livestock slaughtered and fields plowed under because he believed falling food prices were bad for farmers. No, I'm not making this up. Deflation being bad is another Keynesian myth, they think more efficient production lowering prices makes people sit on their money rather than invest it. Which is totally untrue if you look at the computer sector where prices fall IN SPITE of inflation and have never had problems raising capital or selling well despite falling prices and obsolescence. FDR is the same asshole who allowed Pearl Harbor to be a massacre and issued unconstitutional orders to confiscate gold from the poor, hungry citizens who had just seen the banks absolved for destroying their savings. The man was a fucking monster, it took four terms to get rid of him.

What got us out of the depression was a just war and FDR's death. WWII had the entire country up in arms because we were attacked by another country. People were willing to sacrifice their wants and contribute to the war effort, this was no pushover on a third world country, it took everything we had. People were buying warbonds based on patriotic fervor alone. Massive amounts of infrastructure was built to produce wartime materials. That manufacturing base remained after the war for private industry, taxes came down, trade resumed, and we emerged as a leading producer of wealth in the world. By default. Because the rest of world was in shambles, only the Soviets were left to compete and their socialist economy eventually crumbled. We didn't plan it that way, it just happened. We were also still on a semi-gold standard, we still had a savings rate, and we became the largest creditor nation. We've lost ALL OF THAT. It's all gone, we're the direct opposite now. No gold standard, negative savings rate, largest debtor nation in the WORLD.

Keynes main problem is, politicians have no precise idea what all needs to be produced and created to please everyone in a PEACETIME economy, it's impossible. The free market is millions of individuals with diverse wants and needs, there's no way in hell you can centrally manage that. But they think they can and want to spend, that's why they picked Keynes as a replacement for old models, because his theories completely justified what socialist academics had been wanting to do all along. They honestly believed they could spend money more efficiently than its earner. That's impossible, the earner has a stake in the money. If he throws it away, he loses the labor he spent to obtain it, so he has a natural incentive to be thrifty. A politician spending it loses nothing, they have no incentive to be thrifty. They're people motivated by self-interest, just like you and me, their only legitimate job in the economy was to make sure force and deception is not used when we are out here transacting with one another. That's what graphs and "empirical data" doesn't explain, and it's why history will show Keynes to be a failure.

Far from our free market roots, we centrally fix interest rates, we declare lending standards discriminatory with goofy programs like the community reinvestment act, we redistribute capital from good businesses to failed ones, savers to speculators, and pass all kinds of anti-competitive laws. That's what Ron Paul understood and was going to put a stop to. He was going to end the monopoly on currency that forced us all into accepting the bill for government excess. He was going to end the useless military expenditures overseas. He was going to eliminate the income tax and cripple the ability of politicians to engage in collusive campaign dealings, or "engineer" society by issuing special credits to certain types of marriages, incomes, families, or investments. He knew the enablements, he understood how seemingly innocuous program could change human behavior. Politicians are just lawyers spending and accepting millions of dollars to get a low-paying position of controlling other people's money. That's it. And if you think they should be controlling 50% of our money in life, you deserve everything that's coming to you. Your employers are all going to close up shop to avoid the tax, your education is going to suck, your welfare dollars' value is going to be pissed away on foreign entanglements and overpaid execs, your gold is going to get confiscated (again). It's all coming, comrades.

isn't it lack of government oversight that got us into this mess in the first place???

Were the riots of the 60s a result of government failing to enforce Jim Crow laws? Rather than put law enforcement under a single umbrella, you need to understand the difference between a good law and a bad law. Before you even make the jump to regulation, ask yourself if the regulators are being regulated by the constitution? Nope. Sort that one out first, there's your problem. "Regulation" is an extremely general term used by politicians to great effect to blame others for problems and changes in market behavior that they create. We have a central bank in this country that price fixes interest rates since 1913. This is a socialist idea that was passed on the basis of its objective rather than its result. It turns out that letting a pseudo-government agency set interest rates results in an artificial lowering to delay politically inconvenient recessions. This artificial price fix results in the wrong kind of investment decisions and incentives, leading to phony bubbles that carry with them the seeds of their own destruction. I'll explain below.

In order for credit to exist, savings must exist. That's what credit is, someone else loaning their money out to someone at interest rather than spending it. Everyone wants a low rate of interest as a borrower. Everyone wants a high rate of interest as a saver. By definition, savings is underconsumption. Someone, somewhere, has to be saving rather than spending money in order for real credit to exist. These two forces are at odds with each other, to find the happiest medium between savings and production. That's completely perverted by a price fixing system where the government is dictating the interest rate for political purposes. Too easy dictation in the 90s caused the tech stock bubble, worthless tech stocks were trading at hundreds time earnings. When that "growth" came crashing down in 2000, Bush didn't want to have the recession occurring under his first term or he wouldn't get re-elected. So he and Greenspan lowered interest rates to 1% for a whole year to keep businesses borrowing and consumers consuming. The problem is, where is the savings coming from to allow both to happen at once? Overseas. We are the world's largest debtor nation now, borrowing from everyone to consume products that they make. They accumulate our paper money. We get their products. 70 billion a month trade deficit and still going. That's our economy the last twenty years. We abuse a reserve currency of the world status gained under the gold standard to export our now inflationary currency all over the world. That's coming to and end at some point. The Fed is increasing its balance sheet like there's no tomorrow, trying to replace the credit no longer being loaned to us with a printing press. It won't work. It didn't work in Weimar, it didn't work in Argentina, it didn't work in Zimbabwe, and it won't work here. The inflation is in the pipeline, it will hit during Obama's term. Obama and McCain are both socialists, the pork filled bailout bill they voted on ought to be evidence of that. Neither one understands that the recession needs to happen like the druggie needs withdrawal, and the more you try to stop the failures and painful reallocations with more drugs, the longer you're going to be in rehab.

So where did all that money from tech stocks filter into? With such low rates of interest and a removal of houses from the government's own inflation calculations, inflation shifted from tech stocks into real estate rather than being purged in a recession. So nobody but a few libertarian economists who learned a type of economics that isn't taught here could see the problem, one of them being Ron Paul's economic advisor Peter Schiff. In that mania, lending standards were abandoned to take advantage of the artificial demand created by the dictated low interest.

In other words, the market got drunk, but it was the FED THAT SPIKED THE PUNCHBOWL.

http://www.youtube.com/watch?v=LfascZSTU4o

http://www.youtube.com/watch?v=ucDkoqwflF4

You can see the austrian view (Schiff) directly in conflict with the pro-government keynesian/monetarist view that is predominantly taught in this country (Laffer/Swonk). That's why none of the so-called "harvard educated, brilliant, phd holding" managers of a these banks and investment firms were not only oblivious to what was going to happen, but regularly confuse weaknesses for strengths. It's that ass-backwards, we teach the economic equivalent of astrology. Why? Because who has the most to gain from a sexy interventionist theory that says inflation is necessary to prevent hoarding and politicians spending its citizens' money for them can stimulate economic growth? Why, it's the benefactors of inflation!

I'll address Necrodancer later, I gotta go. He seems awfully confused on what socialism is and how socialist we are.

>> ^jwray:
^ Downvoted for inability to put a coherent sentence together.
Income has diminishing returns. The difference between making 2 million a year and making 1 million a year is a very small amount of happiness compared to the difference between making $15K a year and making $30K a year. The poor have a lot to gain from socialism, and 60% income taxes in the top bracket would hardly affect the lifestyles of the super-rich. Market fundamentalists need to take a real economics course that deals with externalities. Not being able to afford healthy food, education, or doctors causes loss of productivity.


Not being able to afford those things is the result of inflation debasing wages, and price fixing of interest rates by the Federal Reserve. Not to mention utter irresponsibility of citizens to stop parroting for their party for a second to go do some real research to learn about this nonsense. Both of these are socialist policies embraced by most politicians of either camp calling themselves whatever and far from free market ideals. This borrow and spend economy full of business/government collusion simply would not have been possible in an environment with gold-backed money and no Federal Reserve. Some crooked old CEO somewhere driving his company into bankruptcy only benefits the companies who didn't going forward, and it pales in comparison to trillions of dollars being created at no labor or material cost, and repeatedly spiking the punchbowl with artificial interest rates as our communist central bank has done for decades now. This time, there's no Volcker or creditor base to get them out of their mistake. As the market has become less and less free, we've gone from the world's largest creditor nation with savings and the highest rate of individual charity to a nation with the most debt, unfunded liabilities, a negative savings rate, and a 70 billion a month trade deficit. If foreigners finally bail out of our bonds, they will sell products to themselves and reduce us to squalor. Socialist enablements like price fixing and monopolization of money and industry have turned this country's money in confetti and driven companies overseas to avoid the taxrates and anti-competitive redistribution of those taxes through subsidies and tax credits. This economy IS your government "directed, regulated" economy. And like the USSR before it, it has come tumbling down. The whole risk/reward system has been perverted. We reward bad behavior and punish savers, incentivize risk by backstopping it with the unlimited promises of inflation via the FDIC, the whole damn thing just distorts normal self-regulatory thinking. There's no fear of bankruptcy anymore, you may as well just load up with toxic debt for short term profits.

Do yourself a favor and listen to these clips of Ron Paul's brilliant economics advisor from years ago. Stop listening to the people who didn't see it coming in any way, shape, or form. Because as John Loeffler says, "if they didn't see it coming, they won't know what to do when it gets here."

http://www.youtube.com/watch?v=rhJaVEWAG24

http://www.youtube.com/watch?v=ucDkoqwflF4

http://www.youtube.com/watch?v=6G3Qefbt0n4

In a state right next to Russia? O, you mean across the Pacific Ocean? Or is he remembering back in his youth when there was a land bridge connecting the two continents.

Hawaii's governor knows all about China and North Korea then.
Maine's governor is the chief economic advisor for European eceonmics.
Florida is the closest state to the middle east. What an idiot.

Keep repeating those talking points McInsane

Without the Fed, who is going to be the lender of last resort? We could revert to the situation to what it was before the Fed was created, which would mean that a handful of big banks, like JP Morgan, would be the lenders of last resort, and with that, in charge of the monetary policy. In fact, the Fed was created in part to break that clique of power.

At least now the government has some kind of check on the central bank system, by being able to appoint the governors, set their salaries, and impeach them.

Or we could bring the Fed under direct government control, but that would mean that politics would play a greater role in the monetary policy. Congressmen and the president realize that economy experiences cycles, and they could use the interest rate "lever" to make the cycles of boom correspond to election times.

Not that they don't try -- both Carter and Nixon both appointed "team players" as chairmen, loyal supporters that tried to lower interest rates when the president was in trouble. The 14 year appointment terms reduce those effects.

The reason Friedman Milton's book is out of date on the Fed is because since the 60s, Milton's "monetarist" philosophy has grown more accepted in the economic community, and even tried by the Fed. Milton was essentially saying that instead of complicated deliberations on when to speed the economy up, and when to cool it down (something that the Fed governors allegedly did just to make themselves feel important), the Fed should be there to make sure that money supply grows at fixed rate, so to take more of an accounting role. In fact, when Reagan was elected, and Milton Friedman became the president's economic advisor, the Fed did just that -- instead of working to "take away the punch when the party gets going", it changed it policy to that of a passive guardian of money supply, changing interest rates automatically to make sure there's a stable amount of money in the system. The whole account of what happened is long and fascinating, which you can read in the book "Secrets of the Temple: How the Federal Reserve Runs the Country", but the bottom line is that it backfired, and the Fed reverted back to the old mode of operation. Friedman's monetarist philosophy proved too simple for the real world. He later aknowledged "I was wrong. And I have no good explanation as to why I was wrong"

Yugoslavian scenario won't happen in US because the hyperinflation (quintillion of percent per year) was caused by the government issuing money to cover it's own fiscal deficit. In US, the Federal Reserve has the authority of issuing money, but not the government. The US government can pressure the Fed to loan it money, which in essence results in more money being printed, but within limits. By having to go to the Fed to ask for more money, it creates a balance on the government's control over spending, as opposed to Yugoslavia's case, when the government itself could quietly print more currency on demand.

As far as Argentina goes, one of the things that happened in the financial crisis was a bank run in 2001. The Fed, with their capacity to print currency, would not let a bank run happen in US. For instance the 1929 stock market collapse was not accompanied by a banking panic due to the quick action of the Federal Reserve Bank of New York.

United States uses IMF and the World Bank to lend money to developing countries, not the other way round. A more realistic scenario is if the Asian countries lose faith in US treasury bills and stop buying them. That would mean the current trade deficit would go unfunded, dollar would fall in value, and Americans would no longer be able to afford to buy chinese goods. That would be bad for China just as it's bad for US, in fact, it would probably cause a world-wide recessions, so the whole world would work to prevent this from happening.

The Fed could mess up the economy by flooding the streets with fed banknotes without limit, or by refusing loan requests at it's Discount window. However that can be said of anybody in charge of the monetary policy. A more relevant question is what what they are realistically expected to do. In retrospect, they've made some mistakes, but who could've made those choices better?