Quote Of The Day

Quote of the Day: “A society that puts equality — in the sense of equality of outcome — ahead of freedom will end up with neither equality nor freedom. The use of force to achieve equality will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interests.”  – Milton Friedman

Headwinds

After eight years of the loosest monetary policy in the history of the United States – the Federal Reserve is going to tighten its’ policy rapidly and severely. After injecting $5 trillion of credit into the economy under Obama – the Fed will now start taking $4.5 trillion dollars off of its’ balance sheet starting this quarter. After raising interest rates once in the eight years of Obama – the Federal Reserve is promising three interest rate increases this year alone.

Is this the morally correct thing to do? Absolutely.
Does it compensate for the eight years of absolute immorality in monetary policy under Obama? No.
Will Trump be assigned the pain this will cause individuals and the economy? Yes.
I know an awful lot of true believers in Trump think an awful lot of economic growth is right around the corner – and maybe it is? However the Federal Reserve gave Obama eight years of the strongest tail wind any President ever received – and he never even hit 3% annual growth in GDP.
The same Federal Reserve is about to give Trump among the strongest headwinds any President has yet received.
Trump and the GOP will have to severely over perform in order to meet even moderate expectations.

Other Side Quote Of The Day

Other Side Quote of the Day: “Republicans don’t give a shit about people.” – Democratic National Committee Chairman Tom Perez

This is a stunning example of the need to dehumanize in order to justify doing what would normally be universally recognized as immoral. The level of intellectual and moral dishonesty which must be attained in order to accept a statement such as this is astounding, yet to a large degree the entire Democrat Party agenda is based on rationalizations that stem from the belief Perez voiced here.

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