{"id":449762,"date":"2017-03-04T12:09:54","date_gmt":"2017-03-04T12:09:54","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=449762"},"modified":"2017-03-04T12:09:54","modified_gmt":"2017-03-04T12:09:54","slug":"a-mess-30-years-in-the-making","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=449762","title":{"rendered":"A Mess 30 Years in the Making"},"content":{"rendered":"
<\/a><\/div>\n

By MN Gordon<\/a><\/span> <\/p>\n

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Promises of Slop<\/p>\n

\u201cWe have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.\u201d<\/p>\n

\u2013 Gary Cohn, Chief Economic Advisor to President Trump<\/p>\n

The art and science of spending other people’s money is not an occupation suited to just anyone. Rather, it’s a skill reserved for the professional world-improver. To be successful, one must act with a zealous devotion to uplifting the down and out, no matter the cost.<\/p>\n

Donald Trump’s chief economic advisor Gary Cohn \u2013 as some observers have noted, he represents one of the factions in the wider circle of economic advisors (there are many advisors who are not members of an official body such as the Council of Economic Advisors, but reportedly have the president’s ear). This is considered problematic, or rather confusing, on the grounds that in some cases the views of these advisors appear to be diametrically opposed. The question is whose views will eventually prevail.<\/p>\n

Photo credit: Kena Betancur \/ AFP \/ APA<\/p>\n

Lawyers, bankers, economists, and government philosophers with fancy resumes, who attended fancy schools. These are the devoted fellows who comprise President Trump’s team of economic policy advisors. Moreover, these are the chosen associates who are charged with bringing Trump’s economic vision to fruition. Are they up to the task?<\/p>\n

Only time will tell. But, already, it is quite evident that Trump’s economic policy advisors have their work cut out for them. During Trump’s speech to Congress on Tuesday night, he called for more jobs, more education, more military, and more affordable health insurance.<\/p>\n

By all accounts the speech sounded delightful. Promises were made to spread the government’s slop far and wide. Trump pledged offerings that just about anyone and everyone \u2013 with the exception of grumpy face Bernie Sanders \u2013 could stand behind and applaud.<\/p>\n

Indeed, articulating these plans is one thing. Using the force of government to execute them is another. This is where the advisors come in.<\/p>\n

When government gets busy with infrastructure spending\u2026 this is without a doubt the best cartoon on the topic we have come across so far. We like its focus on the two essential problems of such spending: 1. the projects chosen by bureaucracies will often be unneeded and a self-evident waste of resources, and 2. bureaucracies are necessarily oblivious to the opportunity costs their spending incurs.<\/p>\n<\/p>\n

From Icarus to Humpty Dumpty<\/p>\n

According to Wall Street, President Trump said all the right things. On Wednesday the Dow jumped up over 300 points to over 21,100. And despite Thursday’s pullback, the Dow ended the day above 21,000. What’s going on?<\/p>\n

New York Fed President William Dudley says the market’s \u201canimal spirits have been unleashed.\u201d He also says \u201cthe case for monetary policy tightening has become a lot more compelling.\u201d The case being, as noted by Dudley, \u201csturdy\u201d jobs gains, inflation increases, and rising optimism for both consumers and business owners.<\/p>\n

Hence, Dudley and the Fed may increase the price of credit at the next FOMC meeting later this month. In fact, \u2026read more<\/a> <\/p>\n

Source:: Acting Man<\/a><\/p>\n

The post <\/a>A Mess 30 Years in the Making<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By MN Gordon Promises of Slop \u201cWe have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.\u201d \u2013 Gary Cohn, Chief Economic Advisor to President Trump The art and science of spending other people’s money is not an occupation suited to just anyone. Rather, it’s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/449762"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=449762"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/449762\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=449762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=449762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=449762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}