[snip]
KING: With troubled times like this for the average guy who may be foreclosing on his house, is this the time to think like a champion?
Trump: This is the best time to think like a champion. As an example, the house is being foreclosed. You go see your bank - maybe you can make a deal, maybe you can't. But you can make a deal with a bank on another house, and much better than the one you're living in. ... They'll do any deal to get rid of their product.
They have houses by the thousands. And you go see that bank and you make a deal.
King: How do you assess [Barack Obama]? Trump: Well, I really like him. I think that he's working very hard. He's trying to rebuild our reputation throughout the world. The previous administration was a total disaster, a total catastrophe.
And, you know, the world looks at us differently than they used to. ... He was handed a pretty bad deck of cards. And I'm not saying I agree with everything he's doing. ... I DO AGREE WITH WHAT THEY'RE DOING WITH THE BANKS.
Whether they FUND them or NATIONALIZE them, it doesn't matter, but you have to keep the banks going.
King: Do you assess [Obama] as a champion? Trump: Oh, yes, he's a champion. I mean, he won against all odds. When he first announced, people were giving him virtually no chance. And he's just done something that's amazing...."
[snip]
Trump's economic policy isn't really a policy; it consists of claiming magical abilities to reclaim the jobs that foreigners have stolen from us, and a ritual genuflection toward lower taxes. All politics contains some element of this, of course: Just listen to the Democratic debaters on stage claiming that bankers nearly singlehandedly destroyed the American economy, and that ambitious programs can be financed largely by raising taxes on a tiny group of ultrawealthy people. But this is combined with some vision of what the economy should look like, resting on moral and empirical premises about fairness, justice, opportunity and equality. Trump's argument is pretty much entirely "strangers stole your stuff, and I'm going to make them give it back, or at least keep them from stealing any more."
Hey. We voters are a lot smarter than the candidates seem to think! At least Trump is campaigning on prosperity. That said, as I pointed out here Trump's proposed tax "reform" has been neutrally scored by the Tax Foundation as a $10T deficit bomb (and skewed toward the wealthy). Hello Tea Party?
As to his monetary policy, as I pointed out here, Mr. Trump criticized Fed Chair Janet Yellen before she raised the discount rate for failing to raise interest rates while, in the next breath, claiming that raising interest rates was a recipe for "a recession-slash-depression." Come in, Houston: Whiskey Tango Foxtrot? Source -- FR THREAD
If you want to understand what the banks and their real estate collaborators did to us, go see “The Big Short.” Unfxxxing believable.