Monday, January 8, 2018

Dave Stockman at his best

At the same time, these pernicious monetary central planning policies did fuel the greatest (unsustainable) financial asset inflation in recorded history, thereby showering the top 1% and 10% with upwards of $35 trillion of windfall wealth (on paper). At bottom, Fed policy amounted to "trickle-up" with malice aforethought, and it was sponsored and endorsed by the beltway bipartisan consensus.It is no wonder, therefore, that Trump's flawed candidacy and pastiche of palliatives and pettifoggery appealed to the left-behind working classes of western Pennsylvania, Ohio, Michigan, Wisconsin and Iowa---as well as to the retirees of Florida and culturally-threatened main streeters domiciled in the small towns and countryside of Red State America.In these precincts, the election was not especially won by Trump. Rather, the electoral college was essentially defaulted to him by a lifetime denizen of the Imperial City who had no clue that war, welfare and windfalls to the wealthy were no longer selling in Flyover America.

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