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Trump confirms Herman Cain nomination to Federal Reserve board


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  • Jason changed the title to Trump confirms Herman Cain nomination to Federal Reserve board

It's been a little crazy seeing conservative economists in the financial press railing against Powell's raising of interest rates after they spent years skewering Bernanke for keeping them low.

 

I used to think their hard money, ZIRP-is-debasing-the-currency views (or rather rhetoric) during the Obama years, while maybe slightly exaggerated by political bias, still mostly stemmed from an authentic economic ideology that transcended their politics.  But now it's becoming clear that, for a lot of them, it really is just all about naked political self-interest.  Stimulus and soft money are perfectly fine provided they're helping conservative politicians, it seems.

 

Oh, and yeah--this pick sucks.  Moore and Cain are hacks.  You don't want hacks running the most powerful financial institution in the world.  Especially not ones appointed to be loyalists.  (see Arthur Burns and the Nixon years for how that can go very wrong)

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2 minutes ago, SilentWorld said:

I can’t remember — is Herman Cain the “uzbekibekibekistan” guy or the “pyramids were giant granaries” guy? 

 

uzbekibekibekistan

 

The pyramids guy already has a cabinet position.

  • Haha 2
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