{"id":181612,"date":"2016-05-05T19:53:00","date_gmt":"2016-05-06T00:53:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2016\/05\/05\/i-hate-it-when-the-donald-says-something-sane\/"},"modified":"2016-05-05T19:53:00","modified_gmt":"2016-05-06T00:53:00","slug":"i-hate-it-when-the-donald-says-something-sane","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2016\/05\/05\/i-hate-it-when-the-donald-says-something-sane\/","title":{"rendered":"I Hate it When the Donald Says Something Sane"},"content":{"rendered":"<p>He just <a href=\"http:\/\/www.marketwatch.com\/story\/low-interest-rate-trump-wants-to-replace-yellen-refinance-us-debt-2016-05-05\">continued low interest rates and a weak dollar<\/a>.<\/p>\n<blockquote><p><span style=\"color: blue;\">Presumptive Republican presidential nominee Donald Trump on Thursday positioned himself on the far left of the political spectrum on fiscal issues, coming out for low interest rates, against a strong dollar and a more aggressive managing of U.S. debt.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u2026\u2026\u2026<\/span><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u201cShe<\/span> [Fed Chair Yellen]<span style=\"color: blue;\"> is a low interest rate person, she\u2019s always been a low-interest-rate person, and let\u2019s be honest, I\u2019m a low-interest-rate person,\u201d Trump added.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">Trump shifted to a discussion of the impact that higher rates has on the dollar, and on the impact a rising dollar has on U.S. business.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u201cIf we raise interest rates and if the dollar starts getting too strong, we\u2019ll have some very major problems.\u201d<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u201cI love the concept of a strong dollar, but when you look at the havoc that a strong dollar causes &#8230; it sounds better to have a strong dollar than it actually is.\u201d<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u2026\u2026\u2026<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">One thing Trump advocated that the U.S. Treasury has resisted is a more active management of the debt. <a href=\"http:\/\/www.marketwatch.com\/story\/treasury-stands-pat-on-auction-sizes-this-quarter-2016-05-04\">The U.S. Treasury hasn\u2019t taken advantage of current low interest rates <\/a>to issue more longer-term debt. <\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u201cI think there are times for us to refinance debt with longer term, we owe so much money,\u201d Trump said. <\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">While at times Trump seemed to link a conversation of refinancing with a situation where \u201cthe bubble popped\u201d \u2014 at one point even suggesting a buyback of U.S. debt \u2014 he also made clear that he wanted to refinance now, to rebuild infrastructure.<\/span><\/p><\/blockquote>\n<p>This is a coherent and thoughtful, if someone iconoclastic, view of the economy, budget, and monetary policy.<\/p>\n<p>It is also a refreshing departure from the conventional fetish about deficits that tends to promulgate austerity.<\/p>\n<p>The economy remains depressed, interest rates are at historical lows, and it&#8217;s time borrow cheap and long term and spend on decaying infrastructure and create jobs.<\/p>\n<p>I&#8217;ve said before that Donald Trump was the best Republican in the race,<sup>*<\/sup> and this reinforces my initial impression.<\/p>\n<p><sup>*<\/sup><span style=\"font-size: xx-small;\">Apart from that Mrs. Lincoln, how was the play.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>He just continued low interest rates and a weak dollar. Presumptive Republican presidential nominee Donald Trump on Thursday positioned himself on the far left of the political spectrum on fiscal issues, coming out for low interest rates, against a strong dollar and a more aggressive managing of U.S. debt. \u2026\u2026\u2026 \u201cShe [Fed Chair Yellen] is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[963,973,1003,978,977],"tags":[],"class_list":["post-181612","post","type-post","status-publish","format-standard","hentry","category-donald-trump","category-economy","category-philosophy","category-politics","category-presidential-campaign"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/181612"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=181612"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/181612\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=181612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=181612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=181612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}