13 Rich White Men

poll 08-05-2016It seems a bit premature, but da trumpeter announced his economic policy advisory team today.  Given that the polls as of yesterday showed Trump’s numbers fading (see graph at left) about as rapidly as a a drawing on an etch-a-sketch, I wonder that he didn’t wait just a bit, not to mention that it would seem more apropos to be thinking about a foreign policy team, since he obviously knows even less than nothing about that.  But who am I to say, right?  Anyway, here is the list of the thirteen white males who will advise Trump on all matters to do with the economy in the off chance that he {shudder} occupies the White House five months from now:

roth

Steve Roth, a fellow real estate investor and the billionaire CEO of Vorando Reality. Roth and Trump reportedly co-own a Manhattan office tower together.

 

Hamm

Harold Hamm, an oil and gas billionaire and chairman and CEO of Continental Resources. He served as an energy adviser to Mitt Romney’s 2012 campaign and as a major donor to the pro-Romney Restore Our Future super PAC.

Lorber

Howard Lorber, president and CEO of Vector Group — a company that owns both real estate and tobacco companies.

 

MnuchinSteven Mnuchin, a hedge fund investor and co-CEO and chairman of Dune Capital Management, he is a longtime friend of Trump’s despite the candidate’s public criticism of hedge fund investors. In May, Trump appointed him national finance chairman for the campaign.

Barrack

Tom Barrack, another real estate investor and CEO of Colony Capital. He founded Rebuild America Now, a pro-Trump super PAC. During the Republican primary, Trump denounced super PACs and requested the return of all donations to any supporting him, but he hasn’t rejected their support during the general campaign.

Calk

Stephen M. Calk, CEO and chairman of Federal Savings Bank. He has been a critic of the Obama administration’s banking regulations.

 

paulson

John Paulson, another billionaire hedge fund manager and president of Paulson & Co. Paulson, made billions of dollars in profit from shorting the market during the 2007 housing bubble.

BealAndy Beal, a billionaire investor and founder of Beal Bank. In addition to making a huge profit buying up undervalued assets during the 2008 recession, he has made waves as a mathematician and high-stakes poker player.

 

feinbergSteve Feinberg, the secretive CEO of Ceberus Capital Management, a private investment firm which specializes in “distressed investing.” Among the firm’s assets: Remington, the manufacturer of the AR-15.

malpassDavid Malpass, founder and president of Encima Global, a economic consulting and research firm. He held positions in the Reagan and George W. Bush administrations and unsuccessfully ran for the New York Republican U.S. Senate nomination in 2010.

 

navarro

Peter Navarro, a business school professor and anti-China author. He has praised Trump’s “peace through economic and military strength” strategy as “right out of the Reagan playbook.

 

moore

Stephen Moore, the Heritage Foundation scholar, former Wall Street Journal columnist and founder of the anti-tax Club for Growth. His economic predictions have been wildly inaccurate.

dimicco

Dan DiMicco, the former president and CEO of steel giant Nucor Corporation. DiMicco authored a 2015 book urging a return to American manufacturing.

 

Notice anything disturbing about this list?  First, as I mentioned, there is not a single woman or minority on the list.  Second, they are all businessmen, most corporate leaders in the private sector. Peter Navarro is the only one to hold a Ph.D.  Many on the list are distinguished business leaders, some are billionaires, several are involved in real estate.  Only two, Malpass and Barrack, have any government experience on their résumé. Additionally, some have gained at least part of their wealth through somewhat “interesting” financial maneuvers.  In essence, Trump has hand-picked a group of men that look much like himself.

jokingTrump claims he plans to “revitalize the economy” … with a group of billionaire real-estate and business tycoons. I am certain these men will have only the best interests of the lower-middle income families, single mothers, unemployed individuals, displaced veterans, homeless people and the like on their agendas.  I am equally certain that they will be willing to work toward income equality, increase taxes on their billionaire friends and recommend tax cuts for the rest of us.  No doubt they will provide many blue collar jobs and hey … surely they will advise Trump to immediately raise the minimum wage to a level that can sustain a family!  At the top of their agenda will also be more affordable education and healthcare for us all.  Oh I can just imagine what a wonderful group of economic advisors they will be!

I am sure Erik Hare will have something more astute to write about this topic in the next day or two, and it is possible that he, being an economist, will see some merit to this gang of rich white men that I do not see.  But for my part, I am convinced that any economic decisions made under a Trump presidency would benefit the top 1% far more than they would benefit the rest of us who count pennies, clip coupons, comparison shop, and buy second-hand furniture in order to stay afloat.

13 thoughts on “13 Rich White Men

  1. Pingback: The Wizard of Trump … Smoke & Mirrors | Filosofa's Word

  2. Stephen Moore was on PBS Newshour. In response to Clinton speaking of infrastructure investment, upper income tax cuts and minimum wage, he said that sounds like Obama’s plan. Yes, but it would have been nice to see if Congress would have fully gone along with it. We have seen a more than doubled stock market, over 75 months of job growth, 4.9% umemployment under Obama, yet it would have been great to have some help from Congress.

    He did get help early on before the GOP majority in Congress. The stimulus bill actually worked to boost the economy, so says six econometric firms, but said it should have been more. Yet, for four years, the US Chamber of Commerce and Labor union leader have pleaded along with two bipartisan leaders to invest in the Highway Trust Fund and stop kicking the can down the road. The GOP Congress finally passed something last fall, but it was short of the mark. If we had done this four years ago it would have been further helpful to the economy.

    So, yes Obama wanted that, but Congress did not step up and do their part other than the Stimulus Bill and the funding of last fall. And, just for kicks, if Trump repeals Obamacare, the country would fall into a recession in my view, with non-healthcare spending being retrenched.

    Liked by 1 person

    • I agree … I think that history will place President Obama among the better presidents of our time, but with just a little bi-partisan support from Congress, he might have gone down as the best since FDR. He may yet, anyway. Frankly, all things considered, the economy is in much better shape than Trump & Co. would have us believe, but the problems can be chalked up to the very sould who are whining about the economy … they are typically the ones who put these do-nothing congressmen in office! Sigh. Agree with you, also, on Obamacare UNLESS they replace it with a better option. There are still major problems with ACA and it definitely needs some work, but to destroy it is “throwing out the baby with the bathwater”.

      Liked by 1 person

      • Jill, I like the way you think. Obama will be well remembered. The ACA is working pretty well, in spite of its imperfections and complexity. It would be great to see the remaining 19 states expand Medicaid and Congress quit strangling it since they did not fund the risk corridors. What I don’t care for is the GOP leaders have voted to repeal the ACA over 50 times and by not funding the risk corridor payments, they are raising premiums on the people they say they want to help. The risk corridors are designed to pay the insurers for too much adverse selection keeping a lid on some premium increases as a result.

        I say this as what I don’t care for his due to the repeal votes, not expanding Medicaid, the risk corridor funding and naysaying, the ACA is not working as well. The GOP is stepping back and saying see, we told you, but this party as had a hand in the result. To this Independent, this shows zero-sum politics at its worst, as this party would rather see the idea fail than have it help people. All of what I said is true, but not known or advertised by the followers of this party or others. Keith

        Liked by 1 person

        • Thanks, Keith! Yes, I suspect that if a Republican had come up with ACA, it would not have received as much opposition, and if less opposition, it might have been funded properly and worked much better. Certainly it isn’t perfect, but those who are so dead-set against it have failed to propose anything better, so ….

          Liked by 1 person

          • Jill, you may be aware, but the irony of all ironies, is the ACA is based off a Republican idea. In fact, Senator Jim DeMint loved Romneycare so much, including the mandate, he wrote a letter recommending it to President Bush and strongly advocated it on talk shows. When the ACA used elements of Romneycare and was passed, DeMint then said both Romneycare and Obamacare were unconstitutional, one of the greatest hypocrisies I have witnessed. Don’t take my word for it – Google Jim DeMint and Romneycare and read away. Keith

            Liked by 1 person

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