There is no reason to believe President Trump will ask Jerome Powell to resign; however, with trillions at stake and the power system (bankers) generally in charge of the government, the media has been manufacturing and pushing a hostile narrative about it for quite some time.
Powell’s term on the Fed Board of Governors ends in mid-2026. The president nominates, and the Senate confirms, the FED Board’s chair and two vice chairs for four-year terms. President Trump picked Jerome Powell, then a governor, to be chair, succeeding Janet Yellen when her term was up in 2018. Powell’s term as chair extends to February 2022.
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At the news conference announcing the Fed’s decision to lower interest rates by a quarter point Powell was questioned if he would leave his post if asked by Trump, he answered simply, “No.”
Asked if the president could fire or demote him or other Fed governors, Powell simply replied: “Not permitted under the law.”
President Donald Trump sits down with Bloomberg Editor-In-Chief John Micklethwait for an extended interview. The interview is in partnership with the Economic Club of Chicago and is structurally President Trump facing down the globalists who sell Wall Street policy.
The interview was at times very combative as the interviewer, John Micklethwait, pushes a Wall Street ideology in alignment with the World Economic Forum. However, President Trump has already proven that his economic policies work.
President Trump stared down every WEF talking point and totally destroyed it. This interview is brilliant and a perfect juxtaposition for Economic Nationalism vs Multinational Globalism. President Trump tore the talking points apart. AWESOME!
Notice in the conversation about Tariffs, not a single word made by the “economists” on the value of the dollar and how pertinent it is in the equation.
When China and the EU devalue their currency to offset the impact of tariffs, the dollar value increases. This means it costs less dollars to import goods that come to the USA at a lower price (due to subsidies). Essentially, the diminished tariff impact is doubled.
Go ahead and make some money. Elevator Speech: “MAGAnomics is essentially ‘inverse BRICS.'”
Everyone who is a pragmatic critical thinker knows that China will: subsidize their targeted sectors and devalue their currency to lower the tariff impact of exports to the USA. Beijing controls the banks, and they did this before.
As a result, the dollar value increases and imports cost less.
The Chinese imports then enter the USA at a lower price consistent with Beijing’s cost estimate as a tariff offset. Chinese actuaries are really good at this. China takes in a lower price but retains access to the USA market. That’s just how it works. The importers pay the tariff with a lowered price with a higher valued dollar. Essentially stasis is achieved in a stand-off.
Then…..
EU industrial products to Chinese manufacturing plants start to contract due to China’s aggressive cost cutting initiatives. The EU gets angry about the impact to their economy and looks for alternatives. The EU then follows the same path as China and devalues their central bank currency; further pressuring the dollar to an upward price.
Exports to the EU are now more expensive, but imports from the EU to the USA are now cheaper. Again, the EU goal is stasis.
Both scenarios create cheaper USA imports despite the Trump tariffs. However, on the EU side President Trump then ends the Marshal plan and executes a program of “tariff reciprocity” against the EU. More frustration and gritted teeth by Brussels.
Mike Rowe brought Victor Davis Hanson onto his podcast for an interview to discuss Class Warfare as contrast against the 2024 election stakes. The impetus for the interview was an article written by VDH a few months ago about the shift in the American electorate – SEE HERE.
Within the interview VDH walks through a summary of how a modern muscular tech industry replaced Mainstreet on the financial side of financial economics and American wealth. Essentially, how a small group of tech companies replaced the blue chip titans and industrialists on the global wealth scale.
As 8 billion people started being able to purchase the goods and services of a small American group of entrepreneurs, all focused heavily inside the tech and finance sector, the people who owned wealth shifted dramatically. Decades later, against the backdrop of globalism, the issue surfaces as the industrialists (Main Street corps) offshored their manufacturing, while the tech industrialists (Muscular Wall Street) started to be the wealthiest people in the USA as a result of selling their tech products to the world.
Within the discussion, the academically disposed VDH points out empirical data that bolsters his theories and analysis. Rowe is in general agreement as they both discuss the granular consequences. However, there is one fascinating part (prompted below) where VDH accurately identifies conservative economic hero Milton Friedman as one of the early globalist villains.
VDH is correct when he says that Friedman was a rabid open borders advocate, who had no issue with lowered wages for U.S. workers and embraced the global system of manufacturing which led to a destroyed U.S industrial base creating the Rust Belt. Few people on the conservative side of politics will ever admit how Milton Friedman was the original Bush-class economist. It’s good to see VDH set the record straight. WATCH:
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Keep in mind, Milton Friedman was vociferously against tariffs of any kind. Friedman believed once the entire world was connected, all prices and economies would equalize. The pain felt within the American economy was simply something that had to be endured until American wealth was distributed and the entire world was balanced.
What follows below was my review of what would happen with Donald Trump policies put into place. This is very deep and in the weeds. This was originally written in December of 2016.
Jumpin’ ju-ju bones, I think we may have found Wilbur Ross’s replacement. In this segment on CNBC Trump transition team leader Howard Lutnick, explains simple MAGAnomics to the panel. Make this guy both Commerce Secretary and Chairman of the National Economic Council in 2025!
Starting with an explanation of his role within the Trump 2025 transition team, Lutnick then walks through the MAGAnomic principles enmeshed in President Trump’s economic policies. Mr. Lutnick begins the policy part by outlining how energy restrictions are driving inflation through higher costs of goods. Yes. Yes and Yes.
Then Lutnick shifts to talking about tariffs and is one of the only advisors outside the 2017 team (Robert Lighthizer, Wilbur Ross) who factually references ending the insufferable “Marshal Plan.” Again, yes, yes and YES.
Howard Lutnick gets it. The essential core of MAGAnomics. Drive down the cost of goods through expanded energy development, then leverage reciprocity in tariffs to end the exfiltration of wealth. Then cut out regulation and unleash American enterprise. This is the way to reverse this insufferable economic trajectory that creates a “service driven economy.” The entire interview is well worth watching:
President Trump and his opponent Kamala Harris were both asked the exact same question about what they could immediately do with policy to improve the economic status of Americans.
This provides a very specific compare and contrast opportunity. Kamala Harris delivers a strange, disconnected and unintelligible word salad in her response, never answering the question. President Trump gives three specific and immediate tax policy changes to benefit three specific groups of working Americans. WATCH the first question and answer of both videos:
Vice Presidential nominee Senator JD Vance, appears on Meet the Press for an argumentative debate on Trump policy. On the issue of tariffs, this might have been JD Vance’s first opportunity to set the record straight about what tariffs did in the first Trump administration.
Unfortunately, because JD Vance did not have the data to refute the NBC talking points, he missed an opportunity to set the record straight. Tariffs did not raise prices and consumers did not pay tariff rates in the first Trump administration. Factually, the exact opposite happened. Prices dropped when Trump tariffs were put into place, the reasons are explained after the interview. WATCH:
Our own analysis of U.S. consumer prices in 2019 showed that prices of imported goods actually declined despite the tariffs. A recent report from CPA takes a look at the impact to Chinese exports to the U.S. [SEE DATA HERE] Bottom line, the tariffs worked to reduce Chinese imports.
CPA – […] Since the Section 301 tariffs were imposed, the share of imports from China has steadily declined from 21.6% in 2017 the year prior to the tariffs to 16.5%, a decline of 5.1%. No other country has lost as much share of total U.S. import penetration over the past five years.
In terms of total import value, Mexico gained the most from the tariffs, adding $110.8 billion. Vietnam gained the second most in import value by $78.4 billion and by far gained the most of total share of U.S. imports. In 2017, Vietnam accounted for about 2% of U.S. imports at $46.5 billion. In 2022, the U.S. imported $127.5 billion in goods from Vietnam, and the share of the total nearly doubled to 3.9%. Other countries in Southeast Asia such as Thailand, Cambodia, and Indonesia all saw significant increases in their value of imports by the U.S. (read more)
With the 2024 election here, it is worth revisiting the actual tariff outcome to American consumers in order to dispel the popular myths about tariffs raising prices here at home. This might be the cited data you want to bookmark for later reference.
Raskin is an angry bitter man of intemperate disposition, the archetype nihilist. As hate consumes him, his physical persona changes with the manifestation of evil enterprise. While his cancer is in reported remission, I would anticipate it to resurface in early 2025, after Baal has finished using him.
All of that said, Raskin is pledging to purposefully trigger a civil war within the United States if Donald Trump wins the 2024 presidential election. {Direct Rumble Link Here} Raskin is prepared to work with Democrats and block any certification of any vote that has President Trump declared the winner.
Newsmax Carl Higbie has done a deep dive on FEC reports using the “number of donations” as the datapoint to track. What he discovered about donations to Act Blue might surprise the people assigned to the contributions. {Direct Rumble Link} WATCH BELOW
“This is verifiable data. Whoever is choreographing this volume is doing it in such small donations because they thought those wouldn’t get flagged by watchdogs and FEC officials. The way this is brought to our attention was not by the dollar amount, but rather by the number of donations per person. That’s where they messed up. But my question is, if these people whose names are on the FEC report are not making these donations, who is? Where’s the money coming from?”
“We can have all the voter ID laws we want, but if hundreds of millions of dollars are flowing in to influence our elections and we don’t know from whom, not only is it a gross violation of election laws, it’s a huge national security risk. When I tell you Democrats are a machine, this is the kind of stuff I’m talking about.”
You don’t have to always agree with the datapoints, but don’t discount them either. As I wrote at the time.
The JP Morgan 5 Year Strategic Plan 2024 – Considering that CEO Jamie Dimon would review this type of document and give direct approval, and considering the recent statements of political strategic advocacy by the CEO of JPMorgan {SEE HERE and SEE HERE}, this 2024 -albeit familiar sounding- prediction, was, well, rather curious:
