Another Really, Really Rotten Choice …

Some days you have to ask yourself if somehow, in some way, you have slipped into a dystopian universe.  Up is down, inside is outside, big is little, and wrong has suddenly become right.  Point in case …

There are two vacancies on the Federal Reserve Board of Governors and Trump has nominated a man named Stephen Moore to fill one of those vacancies.  Now, before I get into Mr. Moore and his qualifications, or lack thereof, remember that the purpose of the Federal Reserve in a nutshell is to ensure a stable economy. *

Federal Reserve board members (there are seven, which includes the Chairman and Vice Chairman) serve a term of fourteen years, and are paid an annual salary of $179,700, with the two at the top receiving $199,700.  It is a position of high trust, controlling such things as interest rates, banking regulations, managing inflation and more. Stephen MooreNow on to Stephen Moore.  First off, he is a great supporter of “supply-side” or “trickle down” economics.  Sigh.  HOW MANY TIMES do we have to prove that it does not work??? I made this point back in September 2017 with my post It Trickles Up … Not Down! In fact, Trump has proven it himself by giving huge tax cuts to the wealthy, stating that the money they saved in taxes would ‘trickle down’ to the consumer, to the working class.  It didn’t.  It never has. It never will.  In a 2012 paper, Moore wrote …

“Cutting taxes can have a near immediate and permanent impact, which is why we have advised Oklahoma, Kansas and other states to cut their income tax rates if they want the most effective immediate and lasting boost to their states’ economies.”

But wait … there is more NOT to love about Stephen Moore.

For starters, just looking at his affiliations sends up red flags. He is a member of the Editorial Board of The Wall Street Journal, owned by none other than the owner of state television network Fox News, Rupert Murdoch.  And Mr. Moore is the Chief Economist at the Heritage Foundation.  For those who may not be aware, the Heritage Foundation is an American conservative think tank based in Washington, D.C. and geared towards public policy. The foundation took a leading role in the conservative movement during the presidency of Ronald Reagan, whose policies were taken from Heritage’s policy study Mandate for Leadership. The foundation had a powerful say in the staffing of the Trump misfit administration, being largely responsible for the nominations of Scott Pruitt, Betsy DeVos, Mick Mulvaney, Rick Perry, and Jeff Sessions.

In 2011, Mr. Moore divorced his wife, Allison.  In 2013, he was found in contempt of court for failing to pay more than $330,000 in spousal support, child support, attorney’s fees and a one-time fee to his ex-wife.  Moore had failed to pay six consecutive months of child support — and only a small fraction of the nearly $19,000 a month he had agreed to pay his ex-wife in the divorce settlement. Moore failed to respond to repeated requests from the Virginia court to make payments and did not show up for a deposition in the case. The court ordered him to sell his home to raise money to pay the debt and forced him to set up an automatic bank transfer each month.  Ever hear the term “deadbeat dad”?  Moore is one.

Mr. Moore currently owes $75,000 in unpaid federal taxes, interest and penalties, according to court documents filed last year. A lien for $75,328.80 from the 2014 tax year was entered against Mr. Moore at the request of the federal government in January 2018.  What he owes in back taxes for a single year is more than most of us make in a single year!  And he is too sorry to pay the government, when we would be in jail if we fell behind by a tenth that much?

Now, here we have a man who cannot manage his own personal finances, and yet Trump would elevate him to one of the most important positions in the overall economic health of the nation???  You might think that Mr. Moore would hang his head in shame and walk away from the nomination, but think again.

Two days ago, he stated emphatically that he has no intention of stepping aside.  “It’s full speed ahead.” And Trump & Co have no intention of withdrawing the nomination, according to Larry Kudlow, director of the National Economic Council, who said both he and Trump continue to support Mr. Moore for the Fed’s board of governors.

“I think he’ll make a great governor. We are standing fully behind his candidacy.”

beating head in disgustJust as with Trump’s cabinet picks, this one is among the worst possible choices.  We have people leading the Departments of Energy, Interior and the Environmental Protection Agency (EPA) who are climate change deniers and have ties to the fossil fuel industry.  We have a Secretary of Education who does not believe in public schools.  Then there’s Wilbur Ross, Secretary of Commerce, who is the subject of a multi-million-dollar lawsuit claiming he stole from a former partner.  And let us not forget Ben Carson, Secretary of Housing and Urban Development (HUD), who claims that poverty is “a state of mind”.  I could go on and on, but you get the picture. Trump cabinet.pngSadly for our nation, Mr. Moore’s nomination, just like all those above, and like Brett Kavanaugh who now sits on the Supreme Court despite many disqualifications, will be confirmed by the republican-majority Senate.  And We the People have no voice in this.  Unless there are actually some republican senators who have a bit of decency left, a bit of honour and integrity, and the cojones to defy Trump, then this misfit, just like all those before him, will be confirmed.

*For an easy-to-understand summation of the Federal Reserve, I recommend this article, The Federal Reserve and What It Does 

26 thoughts on “Another Really, Really Rotten Choice …

  1. So what else is new?

    Seriously, is it not obvious by now that tRumpsky’s picks are from his circle of wealthy friends? Qualifications? Pshaw! Who needs qualifications? If you have a few million in your bank account, that’s all it takes. And as for this guy, he probably asked for the job so he could pay off his debts — and tRumpsky obliged.

    Oh and another qualification that tRumpsky has in place — all candidates must be willing to KHA. (I’ll let you figure that one out.)

    Liked by 2 people

  2. Jill, while your assessment is quite astute and beyond reproach, I can only think of one response…are not the vast majority, if not all, of Trump’s choices for anything really really rotten? Thank-you!

    Liked by 3 people

    • In the beginning, there were a few who, if not exactly the perfect choice, were men of conscience and would have done nicely. They have all left … most got sick of the b.s. and realized Trump wasn’t hearing a thing they said, so they wisely moved on.

      Liked by 2 people

  3. Dear Jill,

    The president is placing an extreme partisan in a position where it’s crucial for the members to act in a non partisan manner who’s goal is to what’s right for the American peoples. Mr. Moore is not capable of performing at a reasonably competent manner as part of the Federal Reserve team.

    I don’t know about you but I’m sick of extreme partisans being placed in positions of power where it’s important to act in a non partisan manner, like Judge Kavanaugh on the Supreme Court and the current AG William Barr.

    It’s important that the placement of Stephen Moore on the Federal Reserve Board NOT SUCCEED.

    Hugs, Gronda

    Liked by 2 people

    • Yes, my friend, like you I am sick of the extreme partisans being placed in positions that are plainly intended to be non-political for the good of the nation. Did you hear about his latest pick? Assuming he passes a background check, he’s planning to nominate Herman Cain for the other seat on the Fed. And, with the Senate still rubber-stamping his nominees, and McConnell invoking the “nuclear option”, I’m fairly certain they will all pass confirmation with flying colours. Bah Humbug.

      Liked by 3 people

      • Dear Jill,

        The Steve Moore and Herman Cain nominations for the Fed Reserve is like President Trump giving all of us ‘Never Trumpers’ the middle finger. Every time I think that it can’t get worse, he thinks of something. I’m just praying we can return the favor in 2020 or sooner.

        Hugs, Gronda

        Liked by 2 people

        • That is exactly how I see it … in fact, giving the entire nation the middle finger. Like you, every time I think we’ve hit rock bottom, he proves he can go even lower. Donald Trump is vermin, the scum of the earth, and I’m sick and damn tired of him!!! Sooner would be better, my friend. I don’t think I can take another 21 months of this jackal!

          Liked by 1 person

  4. Jill, I will set aside the personal issues that he must respond to. I have seen Moore in interviews over the years. He is a smart man, but he comes off as flippant and not someone with serious of purpose. On the Federal Reserve Board, I want competent, sober and nonpolitical people. Moore falls short on the last two attributes.

    On the tax cut comment, referencing Kansas as a good example is not appropriate, as the state was in dire straights and had to raise revenue to pay for things. And, most economists feel the US tax cut would help the economy for about two years. Why? Companies and analysts bake in the changes and stock prices reflect the future impact.

    The Federal Reserve is designed to be nonpolitical. It is designed to not be influenced by Presidents and Congress, especially when the latter groups make it political. Keith

    Liked by 2 people

    • I’m with you on that. I want serious, competent, and non-partisan, or at least non-political people on the Fed. I also want people with integrity, and to me, the personal issues point to the fact that he does not take responsibility seriously. If he doesn’t take his responsibility to his own children seriously, how can we ever expect him to take his responsibility to We the People seriously?

      The other things that bother me are his ties to the Heritage Foundation and his adoration for all things Trump. It makes me think he will be only another sycophant. Did you see who else Trump is hoping to nominate, pending a background check? Herman Cain, the pizza guy who ran in 2012 until he was accused of sexual harassment. Just what we need, eh? Sigh.

      Liked by 2 people

  5. Cannot this man be arrested for non-paymment of taxes, or alimony, or child support. Yeah, Trump has the Senate on his side, but that does not give him the right to hire criminals for high government positions. I think it is time the Secret Service stop running around protecting these fools. Let them walk in public the same as everyone else does, without bodyguards paid for by the taxpayers. Then let them see how their policy decisions sit with the people who voted in the last two elections.

    Liked by 2 people

    • I gather he finally made good on the alimony and child support, but still owes the taxes. Yeah, he could be arrested, and if it were me or some average Joe, he would have been. But, he’s got money and he’s got clout. What he lacks is integrity and values, but those don’t seem to matter in our government today. I agree … if they want to act like a$$holes, then let them walk the streets without their secret service protection detail … let them be exposed to the same dangers the rest of us are, for they are no better than us.

      Liked by 2 people

    • My thinking is that Trump is just a buffoon who is being used as a tool by others, perhaps Putin or perhaps U.S. capitalists. Trump himself hasn’t the intelligence to have any grand master plan … heck, he can barely write his name and cannot remember where his own father was born, plus he thinks wind turbines cause cancer! But somebody, and I’ve long suspected that it is Putin, is playing him like a violin and getting exactly the results they want: a divided nation, one where the people are depressed and oppressed. Sigh.

      Liked by 1 person

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