trump

Trump’s Embrace of ‘Bubblenomics’ May be his Downfall

Trump’s Embrace of ‘Bubblenomics’ May be his Downfall

Two days after Donald Trump announced his candidacy in 2015 he told “Morning Joe” on MSNBC: “We have a big, fat bubble coming up, you watch. We have artificially induced low interest rates … I borrow money … You pay like nothing; they give you free money. Now that’s bad, that’s not good.”  

Despite sounding like a “hard-money” critic of the Federal Reserve as a presidential candidate, President Donald Trump has been reminding the American people in tweets and chats with the press in the Oval Office that the stock market has boomed during his presidency, and he really is a “low-interest person.”

Here is some background to Trump’s 180-degree pivot from Fed critic of easy money to Fed critic of “normalizing “interest rates.

The increase in short-term interest rates since late 2015 did not stifle the stock market’s climb to an all-time high in January 2018. After having a mild correction in the first quarter of 2018 the stock market, as measured by the S&P 500 index, rocketed to an all-time high in September 2018 at 2940.91. 

The Current Crisis in Venezuela Demonstrates Why Socialism is a Bad Idea

The Current Crisis in Venezuela Demonstrates Why Socialism is a Bad Idea

By Lee Enochs

Socialism is on the rise in America today. There is inconvertible evidence for this disturbing political and economic trend as veteran correspondent Andrew Malcolm reported in his recent insightful op-ed entitled, “How President Trump Helps Divide Democrats by Fanning the Flames of Socialism.” Malcolm cites a recent Gallup poll that indicates that 57% of Democrats viewed socialism positively, while only 47% viewed capitalism positively (See: Star - Telegram, February 20, 2019).

So serious is the rise of socialism in America today, that President Trump devoted a substantial portion of his recent “State of the Union” address dealing with the issue and said, “Here, in the United States, we are alarmed by new calls to adopt socialism in our country. America was founded on liberty and independence — not government coercion, domination and control. We are born free, and we will stay free. Tonight, we renew our resolve that America will never be a socialist country.”

The economic and political issues involved here are enormous and put simply, socialism is a dubious economic theory that opposes capitalist notions of individualized profit and private property and advocates that that the vesting of the ownership and control of the means of production and distribution of capital, land and etc., should be controlled and regulated by the state.

High Taxes Causing an Exodus from New Jersey and California 

High Taxes Causing an Exodus from New Jersey and California 

By Lee Enochs 

There is a migration problem in this country and I am not talking about the current debate over illegal immigration that is pitting President Trump against Nancy Pelosi and the increasingly progressive, Democrats who recently took control of the House of Representatives.