Posts Tagged ‘Mexico’

The Good, the Bad and the Ugly

Monday, February 6th, 2017

For the past eight years, the Federal Reserve Board has been the primary force behind the U.S. economy. That hasn’t worked out so well.

Now President Trump is in charge of the U.S. and its economy.

Whether that will revive the economy and make America great again remains to be seen. While the Trump presidency is still brand new, we’ve already seen more action take place that will affect the economy than we saw in the past eight years.trump_cowboy_2509705

Some of what’s taking place appears to be good. Some of it appears to be bad. And some of it appears to be ugly.

The good. Already, President Trump has signed a slew of executive orders. While we’re no fan of executive orders, every president has used them to a degree–and it was one way to make a quick impact, even before his cabinet has been confirmed.

Regulation, as we have frequently noted, has paralyzed the economy, having its greatest impact on small businesses. That President Trump is serious about deregulation is clear by what he’s done to date.

One of his executive orders requires that whenever a new regulation is approved, it must be offset by “the elimination of existing costs associated with at least two prior regulations.” The order adds that the “total incremental cost of all new regulations, including repealed regulations, to be finalized this year shall be no greater than zero, unless otherwise required by law.” (more…)

The Art of the Unreal

Monday, February 22nd, 2016

“You ran up mountains of debt, as well as losses, using other people’s money, and you were forced to file for bankruptcy not once, not twice, four times.”

Carly Fiorina to Donald Trump

You may think that having a billionaire as president is a good thing, since he must understand how to manage money.

But what about a billionaire who has declared bankruptcy four times?  Given that the U.S. is $19 trillion in debt (and that’s just federal debt), maybe it’s a good idea to elect Donald Trump president.  His first act in office can be to declare the U.S. bankrupt and get us out of paying off all of that debt. Trump, Donald

To be fair, Mr. Trump’s bankruptcies were not Chapter 7 bankruptcies, in which anything of value is typically liquidated, leaving creditors with pennies on the dollar.  They were Chapter 11 bankruptcies, in which a restructuring takes place.

But creditors still lose plenty in such cases.  So you may interpret the bankruptcies to mean that Mr. Trump took advantage of other people to enrich himself, which would make him unethical.  Or you may interpret them to mean that Mr. Trump is incompetent.

Maybe, given his tendency to borrow more than he needs at very high interest rates, both answers are correct.  At least National Review makes The Donald seem neither ethical nor competent:

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