deanrd
Gold Member
- May 8, 2017
- 29,411
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- Banned
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Everyone knows Stephen Moore. A real life clown.
Here's how Trump decided to nominate Stephen Moore to the Fed – and what it means for Jerome Powell
Trump Nominates Famous Idiot Stephen Moore to Federal Reserve Board
He is capable of writing entire columns that contain no true facts at all. He made so many factual errors he achieved the rare feat of being banned from the pages of a Midwestern newspaper. He has sold his policy elixir to state governments which have promptly experienced massive fiscal crises as a direct result of listening to him. He believes what he calls “the heroes of the economy: the entrepreneur, the risk-taker, the one who innovates and creates the things we want to buy” should be lionized, and that the idea that a recession might be caused by anything other than excessively high rates on these heroes defies “common sense.” He was pulled into Trump’s orbit during the 2016 campaign and co-wrote a ludicrous hagiography of Trump and his agenda. By all appearances, Moore opposes mainstream fiscal theories because he simply doesn’t understand them.
Donald Trump Just Picked A Laughingstock For A Huge Federal Reserve Job
He spent much of 2018 applauding President Donald Trump’s supposed efforts to “shoot for” zero tariffs, while Trump actually imposed hundreds of billions of dollars in tariffs.
Moore’s most prominent policymaking experience was a disastrous tax experiment in Kansas. Along with conservative economist Art Laffer, Moore helped then-Gov. Sam Brownback (R) design a program to slash income taxes on the richest families in the state and eliminate taxes altogether for partnerships, LLCs, S-corporations and sole proprietorships ― essentially small businesses, but also hedge funds, law firms, doctors, people with book deals and other varieties of wealthy persons.
Moore predicted the tax cuts would bring an “immediate and lasting boost” to the state’s economy. Instead, they created a disaster. As the Center on Budget Policy and Priorities has detailed, Kansas state revenues fell $700 million overnight, the state’s credit rating was downgraded, and Brownback began slashing basic social services to balance the budget. Job growth stalled out at less than half the national average. To salvage the state budget, lawmakers cut education funding so severely that some schools began to close early, and the state’s Supreme Court ruled that the government was violating the state constitution. After five years of economic misfortune, Kansas’ conservative legislature reversed the tax cuts in 2017. The whole experiment is almost universally regarded as a calamity.
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I've seen shows this guy has been on when you could hear the camera and set people in the background laughing at his comments.
He used to be semi regular on Bill Mayer but I get he got tired of being constantly laughed at.
This guy is not an economist, he's a clown. And now Trump has elevated him.
Pitiful,
just pitiful.
