Tag Archives: hilary clinton

Dawn J. Bennett Interviews David Stockman About Trump’s Candidacy

Dawn J. Bennett, host of Financial Myth Busting and founder and CEO of Bennett Group Financial Services, recently interviewed David Stockman, a bestselling author and former director of the Office of Management and Budget, on her show.  In the interview, they discuss Donald Trump’s candidacy for President.

In Stockman’s latest book, Trumped! A Nation on the Brink of Ruin… And How to Bring it Back, he argues that Trump’s candidacy can be directly credited to the increasing notion that the American economy is rigged and only helping those at the top. He notes in his interview with Bennett that Trump is currently capitalizing on the Populist wave because “the rubes are in revolt”.

“They’re treated as rubes by the Washington/Wall Street bicoastal elite and they’ve had enough and I think Trump’s phenomenal rise is reflective of that,” he said. “Now, how that translates into fundamental change in policy… that’s a huge, open question.”

On Trump’s economic policy plan, Stockman says he thinks the three things Trump needs to address are:

  1. The Fed and how we can basically launch a campaign that says 2% inflation targeting has to go because that is a mortal threat to purchasing power or wages throughout America.
  2. Zero percent interest rate or interest rate pegging has to go because that is savaging millions of retirees and savers.
  3. We don’t need an activist Fed intervening massively in the market day in and day out, we’ll need to go to a much more restrained, passive liquidity provision system, but the heart of it would be let the free market, let interest rates do their job. If we had flexible or mobile interest rates both in the money market and across the yield curve, this market would begin finally to reorient itself and heal itself from this tremendous bubble distortion and malinvestment that’s occurring today.

“We need something different and we need to pay for it with spending cuts, and that’s probably an area where a lot work needs to be done on the Trump program if it’s going to make a difference assuming he’s elected,” said Stockman.

While Stockman is not a Trump supporter, he believes he is a preferable to Hilary Clinton and the third party candidates.

“Hillary represents a 30-year old bag of deplorables. I’m not talking about her supporters like she did with Trump. I’m talking about her ideas,” Stockman said. “She has never seen a war she didn’t like. She is a hundred percent behind this whole bubble finance regime at the Fed. She thinks Janet Yellen is some kind of superhero. She thinks that we can make the economy prosper by even more meddling and intervention and control from Washington and obviously we have 30 years now proving that because the economy after this limp recovery is now grinding to a halt.”

He continued, “I think we’re near the edge of a recession, and think about it – it means that in the last 16 years the average growth rate has been 1.6% or less than half of what it was historically, and that’s only if you credit the inflation measures used by the Washington statistical mills. If you have an honest measure of inflation, I doubt the real economy for most of America has grown at all over the last period.”

Dawn J. Bennett and Curtis Ellis Discuss ‘ObamaTrade’

Dawn J. Bennett, founder and CEO of Bennett Group Financial Services, recently interviewed Curtis Ellis, the executive director of the American Jobs Alliance, on Financial Myth Busting with Dawn J. Bennett. The American Jobs Alliance is an activist group leading the opposition against Obama’s proposed Trans-Pacific Partnership (TTP), also known as “ObamaTrade.” Ellis is also a former writer and producer for Lou Dobbs Tonight, CNN, NBC News, Fox News, as well as a former reporter for Associated Press radio.

Ellis recently wrote a report titled “Obama Strikes Again,” in which he states Obama said he would push the TTP in a lame duck session of Congress and Donald Trump is unfit for the presidency. In his interview with Dawn J. Bennett, he discusses these statements further.

Ellis said Obama is unfit for the presidency for the simple reason that he said he would push the TPP in a lame duck session of Congress.

“Now as someone who said he is a professor of constitutional law, Mr. Obama should know that the Constitution was amended in 1933 with the 20th amendment, the so called Lame Duck Amendment, because it was the sense of Congress, and the various states that approved the amendment, that nothing but routine legislation should be considered in a lame duck session,” Ellis said.

He continued, “Something as important as this sweeping 12 nation international regulatory pact that will affect everything, every bit of commerce that is carried on within this country, which will affect our laws including immigration, energy and everything else, is not routine legislation, and that should not be considered in a lame duck session of Congress.”

Major trade agreements are a hot button issue in Trump and Clinton’s campaigns. Recent polls suggest many Americans are not in favor of free trade agreements, and both Trump and Clinton have expressed that Obama’s proposed trade policy is not the way to go. Trump has clearly stated that he is against the TPP and would repeal it if he was elected president. Clinton, who actually helped negotiate the TTP, says she’s not in favor of it but has not provided information on what her alternative trade program would look like.

“She [Hilary Clinton] helped negotiate this Trans-Pacific Partnership. She helped negotiate it. She called it the gold standard of agreements,” said Ellis. “But then when she came under pressure from Bernie Sanders in the primaries, and from Mr. Trump, and looked at all the polls and saw how widely unpopular it is, she reversed course. In a very carefully parsed statement she said ‘I am opposed to it in its current form’.”

Ellis also noted that this was the same articulation used by Bill Clinton when he was in office. During his campaign for the presidency he said he was opposed to the North American Free Trade Agreement (NAFTA).

Ellis explained, “But once he won the election he said well, we’re going to change it a little. He got some side letter agreements, which were really non-binding and toothless, and said okay, now it’s fixed, and now I can support it”

He continued, “Add to that the fact that her [Hilary Clinton] closest confidant, Terry McAuliffe, who is now the governor of Virginia, when he was asked about the Trans-Pacific Partnership and Hillary Clinton shifting positions on it, he said, and this was during the Democratic National Convention, he said, don’t worry, once the election is over she’ll come around, and she’ll support it. We’ve got to build the global economy.”

Ellis said if Clinton were to win the election, we can expect the TTP to be run through Congress.

“Hillary Clinton will stand on the sidelines, publicly take no stand, but behind the scenes will be, probably, whipping for it,” he said.