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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 & Niger Innis Discuss the Likelihood of President Trump

Financial advisor Dawn J. Bennett recently interviewed Niger Innis on her show Financial Myth Busting with Dawn J. Bennett. Innis is the national spokesperson for the Congress of Racial Equality (CORE), as well as an MSNBC commentator and political consultant. In the interview, Bennett and Innis discuss a common question many Americans have: Is it inevitable that Donald Trump will be the next president?

Innis says he thinks Trump being the next president is a real possibility. Innis, who is also the Chairman of Tea Party Forward, said, “We’re [Tea Party Forward] not quite sure just yet about Donald Trump, we’re all supporting him now, now that Ted Cruz has dropped out, and we certainly prefer Donald Trump over Hillary Clinton, but we’re certainly not sure if Donald Trump is going to be a Constitutional Conservative or could he very well be a big government Conservative.”

He continued, “So that even if he makes the choices that we would like, how he executes those choices, through executive orders or through running roughshod over Congress and not recognizing the separation of powers, is something that would concern us, that wouldn’t concern us as much with a Constitutional Conservative like Ted Cruz. On the flipside though, what thrills the Tea Party about Donald Trump is his ability to confound the media, his ability to not only circumvent the media, the establishment media, but to actually shape and confront the media and get them to talk, to say his talking points as opposed to him playing from their song sheet.”

Despite his chokehold on the media, Trump has been more unpopular with minorities than past Republican candidates. In order to win the minority vote, Trump would need to undo the damage that’s been done. Innis thinks he’s already begun and could appeal to the Black community.

According to Innis, “I actually think where Trump has the ability to again confound conventional wisdom is actually in the black community. I think his talk of building a wall, the economic American nationalism that he promotes, it’s something that would appeal greatly to a number of black Americans. Particularly, we hear in this election and we see it and we often say that it’s a reflection of angry white males—Trump’s popularity. But the little hidden story is that is not talked about as much is that there are a lot of black males and Latino males that are angry too, that are unemployed or underemployed and want an opportunity to earn a living and be breadwinners for their family.”

Innis also notes that Trump has reached out to Reverend Samuel Rodriguez, Head of the National Hispanic Christian Leadership Conference and a good friend of his. The organization represents around 30 million Latino Evangelicals nationwide. Trump addressed them recently, said Innis, and “gave a very conciliatory message.”

“He didn’t contradict himself in things he had said before. He just said that his message and my agenda of bringing jobs back into the country is going to be something that uplifts the Hispanic community,” Innis told Bennett.

So will Trump take over the White House? Only time will tell.

For more exclusive interviews, visit Financial Myth Busting with Dawn J. Bennett here.