Neither Keynes, Trump, Pumps Nor Priming

That it hadn’t accomplished either of those things led to, and partly explained, the recovery-less recovery which then spun off into Trump (as well as the showing for his left-sided twin, Bernie Sanders).

This was the fakeness behind the unemployment rate from which now-President Trump early in 2017 was intending to escape. Pump priming, hysteresis, whatever, the “stimulus” idea was to use the fiscal power presumed possessed by federal government authorities to clean up after the ineffectiveness leftover by the Federal Reserve in its tunnel-vision QE madness. If the Fed couldn’t do it, then Treasury would – as if Obama hadn’t actually tried.

Needless to say, no surprise The Economist had been Trump’s first planned stop to sell the plan; an utterly conventional outfit practically tailor-made to blindly accept every last conventional bit of it. They didn’t care about the language controversy, over-eager instead to encourage them and their quick, forceful adoption (becoming December 2017’s TCJA followed shortly thereafter by The Economist’s this-didn’t-age-well cheer section).
 

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Disclosure: This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any ...

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