"Anti-Establishment" Trump Appoints "Establishment" Fed Chairman

Donald Trump has appointed monetary dove Jerome H. Powell as next Fed chairman.

There is possibly no one more "establishment" than Powell, who was originally nominated to the Federal Reserve Board of Governors by Barack Obama after a stint with the US Treasury.

Powell is likely the closest Republican-labeled surrogate to Janet Yellen, whose shared support for Dodd-Frank and QE3 stands at odds with the anti-establishment attitude advertised by Trump during his campaign.

What's more, the Trump campaign justifiably focused upon the phoniness of the US economy during the 2016 bid, while Powell has even recently celebrated a "strong" US economy and labor market, in addition to condemning current lending standards for being "too rigid."

This appears to be business as usual rather than "draining the swamp."

In response to his appointment, Jerome Powell began his acceptance speech by alluding to the Federal Reserve's so-called dual mandate, price stability and full employment.

As it turns out, the market economy organically operates toward a reduction of marginal costs and the prolific distribution of leisure at the elimination of drudgery, both of which oppose those mere nominal measures which bear relevance only to the diplomats and their hired statisticians.

Meanwhile, the major indices have remained stable, suggestive of investors' anticipation of continuity with Janet Yellen's stencil.

If you bought into Trump's drain the swamp mantra, it appears time to sell the fact.

Comments

Into the Wild: An Economics Lesson

The Keynesian mantra, in its implications, has its roots in destruction rather than truth: “In the long run, we’re all dead.” If this is your guiding principle, we are destined to differ on matters of principle and timeline. While it is true that our fates intersect in death, that does not mean that we ought to condemn our heirs to that view: the view that our work on this planet ought only to serve ourselves, and that we ought only to bear in mind the consequences within our own lifetimes. The Keynesians, of course, prefer their outlook, as it serves their interests; it has the further benefit of appealing to other selfish people who have little interest in the future to which they'll ultimately condemn their heirs. After all, they'll be long gone by then. So, in the Keynesian view, the longterm prospects for the common currency, social stability, and personal liberty are not just irrelevant but inconvenient. In their view, regardless of the consequences, those in charge tod

Death by Socialism

This title is available for purchase on Amazon , Lulu , Barnes & Noble , and Walmart .

There's Always Another Tax: The Tragedy of the Public Park

In the San Francisco Bay Area, many residents work tirelessly throughout the year to pay tens of thousands of dollars in annual property taxes. In addition to this, they are charged an extra 10 percent on all expenses through local sales taxes. It doesn't stop there. In addition to their massive federal tax bill, the busy state of California capitalizes on the opportunity to seize another 10 percent through their own sizable state income taxes. But guess what! It doesn't stop there. No, no, no, no. In California, there's always another tax. After all of these taxes, which have all the while been reported to cover every nook and cranny of the utopian vision, the Bay Area resident is left to face yet an additional tax at the grocery store, this time on soda. The visionaries within government, and those who champion its warmhearted intentions, label this one the "soda tax," which unbelievably includes Gatorade, the preferred beverage of athletes

Paradocracy

Search This Blog