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Donald Trump's billionaire businessmen economic advisors

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  • Schmidt
    2016-08-07 09:00:57 AM
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    Vox, August 5, 2016: Trump's economic team has a lot of billionaires, very few economic experts

    Trump's list of economic advisors is full of billionaire businessmen but only one academic economist, Peter Navarro. Navarro is probably on the list because of his book, Death by China. Navarro is another China alarmist, who thinks that trade with China has had disastrous consequences.

    I hope we can discuss his economic team without getting into derivatives and CFMA. That's why I have started a new thread rather than getting it buried in off topic posts in other threads.

    With a quick look, I don't think any of these white men on his team are MMTers. Quoting Vox:

    "The list includes a couple of prominent real estate tycoons and several people who made their fortunes in finance. Also on the list: oil and gas billionaire Harold Hamm and Howard Lorber, who has major holdings in cigarettes as well as real estate.

    "In short, Trump has assembled an independent-minded and opinionated collection of rich businessmen. They could provide a valuable conduit for dissenting points of view in the insular Trump campaign."

  • Schmidt
    2016-08-07 09:11:57 AM
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    For starters, his list includes John Paulson. Here's what Wikipedia says about him:

    John Alfred Paulson (born December 14, 1955) is an American hedge fund manager and billionaire who heads Paulson & Co. a New York-based investment management firm he founded in 1994. He has been called "one of the most prominent names in high finance" and "a man who made one of the biggest fortunes in Wall Street history".

    His prominence and fortune were made in 2007 when he earned "almost $4 billion" personally and was transformed "from an obscure money manager into a financial legend" by using credit default swaps to effectively bet against the U.S. subprime mortgage lending market. In 2010, Paulson earned $4.9 billion. The Forbes real-time tracker estimated his net worth at $9.8 billion as of June 2016.

    Good guy or bad guy?

  • Schmidt
    2016-08-07 09:19:56 AM
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    Then there's Stephen Moore who we often see on TV. Here's his wiki bio:

    Stephen Moore (born February 16, 1960) is an American economic writer and policy analyst. He founded and served as president of the Club for Growth from 1999 to 2004. Moore is a former member of the Wall Street Journal editorial board. In 2014, The Heritage Foundation announced that Moore would become its chief economist. In 2015, Moore's title at Heritage changed from Chief Economist to Distinguished Visiting Fellow. Moore is known for advocating free-market policies and supply-side economics.

    Good guy or bad guy?

  • Carlitos
    2016-08-07 07:47:58 PM
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    He's aligning himself with Wall Street conservatives.

    Moore is a special kind of irresponsible "subversive" person paid to say things he knows is not true.

    His old friend Art Laffer commissioned Warren Mosler's Soft Currency Economics.

  • Dutch
    2016-08-08 08:52:22 AM
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    WHO cares? I suggest he invites the "mailman"; he wants to get rich too. This election is the worst circus I've ever seen.
  • Schmidt
    2016-08-08 10:07:44 AM
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    My point in sharing the list is that it doesn't fit with the "pandering to the poor" that Trump seems to engage in every chance he gets. I browsed the bios of most all of them, and they are all rich Republicans who embrace the Republican line of austerity and paying down the debt. "Deficit hawks" as Carlitos refers to them. Some of them embrace Trump's "getting tough on trade" blather. Others are real estate moguls like Trump who made a killing in buying up properties during the Great Recession and then flipping them.

    I am not anti-corporate, and as such I can appreciate perhaps what Dan DiMiccio has done for Nucor Steel; however, his anti-trade rhetoric seems more like protectionist ranting about China, rather than intellectual insight into how trade policies can be more fair.

    Note there are no women on his team unless you want to count Ivanka who advises him on everything. No African Americans, Latinos, Asians, or anyone other than white men...most of them old white men. His cronies. But even with this high profile business economic team, Trump seems to say what he wants at the moment, without regard to anything his team might have coached him on. Trump shoots from the hip...always pandering to his audience at the moment.

  • Dutch
    2016-08-08 10:47:37 AM
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    Schmidt Wrote:

    My point in sharing the list is that it doesn't fit with the "pandering to the poor" that Trump seems to engage in every chance he gets. I browsed the bios of most all of them, and they are all rich Republicans who embrace the Republican line of austerity and paying down the debt. "Deficit hawks" as Carlitos refers to them. Some of them embrace Trump's "getting tough on trade" blather. Others are real estate moguls like Trump who made a killing in buying up properties during the Great Recession and then flipping them.

    I am not anti-corporate, and as such I can appreciate perhaps what Dan DiMiccio has done for Nucor Steel; however, his anti-trade rhetoric seems more like protectionist ranting about China, rather than intellectual insight into how trade policies can be more fair.

    Note there are no women on his team unless you want to count Ivanka who advises him on everything. No African Americans, Latinos, Asians, or anyone other than white men...most of them old white men. His cronies. But even with this high profile business economic team, Trump seems to say what he wants at the moment, without regard to anything his team might have coached him on. Trump shoots from the hip...always pandering to his audience at the moment.

    Schmidt, in case you did not know. Trump studied at the Trump University and is just an "rich" white redneck. Nothing else. Ivanka only knows where she can buy make up and count money. We need more of those "leaders" !!
  • lonely bird
    2016-08-08 01:43:26 PM
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    Schmidt Wrote:

    Then there's Stephen Moore who we often see on TV. Here's his wiki bio:

    Stephen Moore (born February 16, 1960) is an American economic writer and policy analyst. He founded and served as president of the Club for Growth from 1999 to 2004. Moore is a former member of the Wall Street Journal editorial board. In 2014, The Heritage Foundation announced that Moore would become its chief economist. In 2015, Moore's title at Heritage changed from Chief Economist to Distinguished Visiting Fellow. Moore is known for advocating free-market policies and supply-side economics.

    Good guy or bad guy?

    Utopianist. Which is worse than bad guy. Think Robespierre. Ideologically pure. What happens to people caught in the implementation of ideology? Well, ya gotta break some eggs to make an omelet.
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