LLR Pages

Monday, March 17, 2008

Pro-State Donald Trump on the Fed

Pro-state (not to mention government pro-corporate welfare queen) Donald Trump called into Neil Cavuto's Your World with Neil Cavuto show today to talk about the Fed's decision to bail out Bear Sterns in the wake of the imploding financial services and housing industries. (I only heard what Trump said, considering I didn't see the entire broadcast because I was in my computer room updating this blog, but the TV in the family was on, and Trump was on the phone line with Cavuto to weigh in on the mortgage/lending crisis. I managed to walk into the other room and watched the last remaining few minutes of what Trump said on the air.)

Trump said that the Fed needs to cut the subprime interest rate by a point, because, if the central bank doesn't do it, then we will all sink into a recession and it will be our economic meltdown nightmare come true. (I'm paraphrasing here, but that's pretty much the gist of what he said.) Of course, Cavuto, as the pro-Big Business, pro-government/business colluding scum that he is, pretty much concurred with what Trump said, given the fact that Fox News and Trump are big welfare queens and the thought of the government/pro-business environment coming-a-crashin' around them is frightening to them.

Trump is nothing than a pro-corporate state, pro-state, and pro-corporate welfare stooge of the worst kind. After all, this is a statist character who, back in the mid-1990s, employed eminent domain via the power of the state in New Jersey to force Vera Coking, an elderly woman from Atlantic City, out of her home so that the Republican billionaire could use her property to build a parking lot. The New Jersey Casino Reinvestment Development Authority condemned her property in a diabolical attempt to prevent Vera from getting a market price for her home and enable Trump to get a bargain basement price for it. Thankfully, the attorneys from the Institute of Justice fought this nonsense, and Coking won her case against the state and Trump.

People should be weary of thugs like Trump, for he is the most vile, most diabolical characters of the pro-government/pro-business/pro-corporate welfare establishment. He even makes your skin crawl anytime you see him.

Even his pathethic reality TV show The Apprentice, which has been on the air for almost eight years, is just crud. It is truly a sad day when he popularizes a stupid catch phrase like "You're fired!," especially when that phrase has been in use for ages.

Update: Actually, after viewing Trump's call into Cavuto's show on, it turns out that he believes that the Fed did the right thing by cutting the interest rates and says that the Fed needs to cut the interest rate further by a point. He argues for this because, according to him, we've "had a big hit" and that he told Cavuto "two years ago that the country would fall into a recession."

But he terribly says that "we can put money into the economy through the Fed." Furthermore, if we don't get the price of oil down, we'll go into a major recession. Hasn't he figured out by now that we're already in a major recession? Hasn't he figured out that government is the problem -- and not the solution -- to this mess? After all, he thinks that we "don't have a choice" to lower the interest rate by a point. The answer to this, which he refuses to admit, is to move the government out of the way and let the free market take over, not to cut the Fed's rates by a percentage point.