“We have assembled a top-notch team of policy advisors to further President Trump’s bold agenda for job creation and economic development.” — Gary Cohn, Chief Economic Advisor to President Trump
Promises of Slop
Managing the art and science of spending other people’s money isn’t a task for just anyone. It’s a specialization reserved for those who deem themselves as professional world-improvers. Success in this field demands an unwavering commitment to uplifting the less fortunate, regardless of the consequences.
Lawyers, bankers, economists, and government thinkers boasting impressive credentials from elite institutions are the individuals making up President Trump’s team of economic policy advisors. These esteemed individuals are tasked with translating Trump’s economic vision into reality. Are they equipped for the challenge?
Only time will reveal the answer. However, it’s already clear that Trump’s economic advisors face significant hurdles ahead. During his speech to Congress on Tuesday night, Trump called for an increase in jobs, education, military strength, and affordable health care. Continue reading
Today, the perks of the presidency seem sparse. Just ask President Trump himself. The work hours are grueling, the salary pales in comparison to a corporate CEO’s, and he’s constantly surrounded by underwhelming politicians.
Moreover, the towels aboard Air Force One suffer from the roughness typically associated with a roadside motel. But that’s not even the worst part.
Efforts to reshape foreign policy to meet 21st-century challenges are routinely undermined by intelligence operations that run smoothly and efficiently. Before you know it, leaks to mainstream media escalate into the latest sensation.
For instance, last week, Trump had to dismiss his national security advisor for engaging in diplomatic talks with the Russians. Following that, John McCain, whose qualifications are up for debate, criticized Trump’s initiatives from Europe. What a spectacle!
Barring perhaps the job of a smell judge, it’s hard to imagine a more challenging position than that of the President of the United States. Can you think of one? Continue reading
In today’s world, almost everyone seems to have a plan for sale. So many that it’s hard to keep track. Eat carrots and lose weight. Think positively to accumulate wealth. Invest in stocks for long-term growth. Naturally, such plans are everywhere.
However, good plans are as rare as hen’s teeth. You won’t see them, no matter how hard you look—they just don’t exist.
This was apparent this week on Capitol Hill, where finance met politics during the biannual monetary policy review. Despite the chaos, no solid plans emerged. In fact, at first glance, neither good nor bad plans were presented.
By the end of Fed Chair Janet Yellen’s testimony, Congress was left more confused about the Fed’s intentions than before it began. For example, when questioned about the possibility of an interest rate hike, Yellen responded, “I can’t specify which meeting it would be. I would say every meeting is live.”
What does this really mean? Continue reading
What topics will President Trump and Japanese Prime Minister Shinzo Abe discuss in their upcoming meeting? Will they delve into fishing secrets or the best spots for a good drink?
Unlikely. Their conversation will likely focus on bilateral trade, economic growth, and job creation between their nations. They’ll also explore potential avenues for currency depreciation.
Before long, perhaps by the time you read this, headlines summarizing the meeting will emerge, possibly accompanied by revelations of a new partnership. Anything is possible.
To better understand the context of their meeting, here’s a brief retrospective—a review of events spanning three decades—intended to set the scene. This background is often overlooked in mainstream discussions…
To start, it was the wrong decision at the wrong time. Continue reading
