“When the facts change, I fire the fact finder.” Keynes would have been proud… Dismissing Erika McEntarfer, commissioner of the Bureau of Labor Statistics, is genuine a market making move. It is Politburo politics of the most blatant kind.
I’ve been trying to coalesce this version of truly bizarre political radicalism that Trump represents. A sort of “in your face” defiance that actually defies their own self-interests – and is shrinking any element of geopolitical presence that the US has. I understand the US wanted to just retrench and deal with its own affairs, but surely not at the expense of international goodwill and and the astonishing lack of trust and certainty that his very presence represents.
As reported on Reuters: “Mehill Marku, lead geopolitical analyst at PGIM Fixed Income, a New Jersey-headquartered investment firm with $837 billion in assets under management, said investors were also watching Trump’s expansive interpretation of his powers as President, a legal doctrine called the “unitary executive” theory.” How the US constitutional system is itself not rebelling at Trump’s excessive and repeated use of Executive Orders, I simply do not understand..
And again, if you compare it to any of the political scandals that I can think of since the 60s, including Watergate, surely the net harm to the US is greater than any of these, and arguably should it have been a non-Presidential system, Trump should be indicted and commencement of a new democratic replacement begun. The defenestration of Liz Truss by comparison, looks positively super efficient – and she had done significantly less damage than Trump so far! What happens to inflation data when the stockpiled stocks have run out? Will the US Federal Reserve manage to make any sensible progress against this level of bluster?
#BureauLabourStatistics #ErikaMcEntarfer #Trump #Indictment
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