19 September 2018

Clueless

Donald Trump's Commerce Secretary Wilbur Ross was interviewed on business channel CNBC yesterday and attempted to brush off the fact that the administrative's massive new tariffs will increase prices for consumers (details here). "Because it’s spread over thousands and thousands of products, nobody’s gonna actually notice it at the end of the day."

In Ross's mind, if all prices are going up, nobody will notice.

His clueless myopia could be explained away by the fact that his net worth is around $3 billion. So he would hardly notice that prices are spiking at the supermarket because he has "help" who shop for him.

Ross is one of only several billionaires and multi-millionaires in Trump's cabinet. For a President who claims to be "for the little guy," his senior staff and policies are more likely sticking it to the little guy.

Speaking of Ross, over the weekend Politico ran a great article (link here) about how Ross and others in Trump's cabinet and senior West Wing personnel made out like bandits during the 2007-2009 economic collapse.

During the peak of that crisis, Ross predicted in another CNBC interview that a thousand smaller banks would collapse and that "there will be opportunities" for fatcats like himself to make a bundle. Indeed, using taxpayer funds, Ross snapped up failed banks, making himself millions at the expense of others' misery.

It's mind boggling how some working-class voters still continue to support Trump, given how his administration has stepped all over working-class households. Sadly, because these people consume little news and, when they do, deeply biased Fox propaganda, they think the President is helping them when in fact he's their predator.

The November midterms cannot come soon enough.

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