MADDOG'S LAIR
  • Blog
  • About
  • Contact

Trump takes the lash to Janet Yellen

9/12/2016

Comments

 
Trump says Fed keeping rates low because of pressure from Obama

​More below.
"Republican presidential candidate Donald Trump said on Monday that U.S. Federal Reserve Chair Janet Yellen was keeping interest rates low because of political pressure from the Obama administration, questioning the motives of an institution whose work hinges on maintaining its independence.

'Well, it's (the interest rate) staying at zero because she's obviously political and she's doing what Obama wants her to do,' Trump told CNBC in a phone interview, saying Yellen should be 'ashamed' of what she was doing to the country."

This is an adroit move on Trump's part, but I doubt that Yellen is playing this role specifically. She simply believes the same Keynesian nonsense that Obama's advisors believe. I do not believe for a minute that Obama has any real understanding of economics. He has never shown even a rudimentary, passing familiarity with the dark arts. 

"'Politics simply does not come up,' he said. 'We look at the economic data and ... everyone around the table is committed to achieving our dual mandate' of maximum employment and stable prices, Kashkari said."

This is likely true. But it belie's the fact that most everyone in the room believes the same nonsense economic flapdoodle. The flapdoodleness of the belief is clearly ascertained by the 8 year long failure of acting on the belief to perform as advertised. Beliefs can be implemented but seldom have the outcome desired. This is one of the strong tell tails that a policy is belief, and not fundamentally grounded in fact, and experience. 

No, Yellen is likely a true believer, and it is Obama who is the smiling bumpkin banging around in the back of the buckboard wagon with the turnips. Both believe all that is necessary is a little more Keynesian stimulus and, Bam, it will work. They just know it!

The only remaining question is how much longer we will tolerate this Keynesian nonsense before we shut it down, and return to more sane economic policies which do not include bankrupting the Republic in order to follow the beliefs of a true believing few.

Now would be good, later will just cost us that much more.

It is funny to watch Donald make hay while the sun shines, at the expense of the progressive true believers. I just wish it has some valuable end.
Comments
comments powered by Disqus

    Author

    Maddog

      Blog Subscription

    Subscribe to Blog

    Categories

    All
    1000-ways-to-die
    Abortion
    Amazon
    America
    Antisemitism
    Anti-semitism
    Bible
    Blogging
    Blue-model
    Book-links
    Booze
    Bus
    Cancer
    Children
    China
    China-ccp
    China-gdp
    China-ghost-cities
    China-ponzi
    Climate-change
    Coast-guardrescue-swimmer
    Cold-war
    Concealed-carry
    Constitution
    Cool-stuff
    Corruption
    Creative-destruction
    Crime
    Crisis-change
    Dead-guy-vote
    Dead-pool
    Death-of-the-pc
    Declaration-of-independence
    Deflation
    Democrat
    Demographic-decline
    Diet
    Earth-hour
    Ecommerce
    E-commerce
    Economic-change
    Economy
    Education
    End-of-history
    Energy
    Environmentalism
    Epa
    Eric-barker
    Europe
    Executive-outcomes
    F35
    Faith
    Family
    Fascists
    Financial-irresponsibility
    Financial-times
    Firearms
    First-world-problems
    Fitness
    Flight-to-security
    Food
    Fourth-turning
    Free-eye-exam
    French
    Funny
    Gdp
    Gdp-usa-vs-britain
    Gdp-usa-vs-germany
    Gdp-usa-vs-sweden
    Generational-theft
    Global-warming
    Government-incompetence
    Government-we-deserve
    Happiness
    Health
    Helicopter-parent
    Hell
    Holocene
    Honor
    Housing-affordability
    I-love-beaver
    Imf
    Immigration
    Independence-day
    Inefficiency
    Inflation
    Innovation
    Intelligence
    Intergenerational-conflict
    International-relations
    Investing
    Iran
    Iraq-war
    Islamic-reformation
    Italian-travel
    Japan
    Jodie-foster-effect
    Kayaking
    Keynesian-economist
    Kurdistan
    Law
    Leave-nato
    Leave-the-un
    Light-rail
    Maddog-story
    Marine
    Marriage
    Media
    Medical-insurance
    Medicine
    Middle-east
    Military
    Military-waste
    Money
    Monopoly
    Nanny-college
    News
    New-seasons
    Nirvana-is-another-name-for-hell
    North-korea
    Nukes
    Obama-doctrine
    Oil
    Oregon
    Organic
    Parenting
    Partition
    Pearl
    Pensions
    Peter-principle
    Police
    Politicians
    Portland
    Portlandia
    Portland-transit
    Predictions
    President-bush
    President-feckless-odither
    President-obama
    Psychology
    Race-huckster
    Rape
    Recession
    Recipe
    Replace-the-un
    Republican
    Research-studies-are-always-wrong
    Reviews
    Russia
    Salafism
    Sanctions
    Science
    Science-versus-faith
    Self-defense
    Self-drive-vehicle
    Sex
    Shale-oil
    Shia
    Sjw
    Sleeper
    Smart-growth
    Socialism
    Sovereignty
    Sport
    Sunni
    Supreme-court
    Syria
    Tax
    Technology
    Terrorism
    The-fed
    The-house-of-saud
    The-last-economic-superpower
    Therapy
    Trade
    Transit
    True-believer
    Tvfilm-review
    Un
    Union
    Urban-planning
    Urinals-of-note
    Venezuela
    Voter-fraud
    Wages
    Wahhabism
    War
    War-crimes
    Weird
    Weird-science
    Welfare
    Whole-foods
    Work



    RSS Feed

​Maddog's Lair is copyright 2016-2018 by Mark Sherman. Please feel free to quote from this site provided you link back to the original article.
Proudly powered by Weebly
  • Blog
  • About
  • Contact