From a Facebook posting 1/22/2024
I just heard CNBC Squawk Box's Andrew Ross Sorkin on Morning Joe this AM opining on the recent CEO of Wells Fargo and attendees at Davos representing world CEOs opine that Trump would win in November, so in public, they said that was the good and bad news or something wishy-washy like that. Behind the Davos scenes, Sorkin e heard some of these CEOs say off-stage that they were afraid of Trump's retribution if they supported Biden. I see that as instructive to the rest of us that if Trump got elected, we could expect the most corrupt anti-consumer and anti-environment administration in the history of the US.
It is not only fear of retribution that drives the DAVOS CEO.. Trump's promise to make all appointees to regulatory agencies loyal to him instead of the laws they are charged to enforce, and if the business needed a favor, they had better start licking his boots now or just shut up.
How could that impact us, the non-CEOs of the world? We consumers will be the victims and so will the environment. I see regulatory decisions to favor the interests of banking, the environment, and consumer protections to favor the political bootlickers with the money and the power. It certainly is not the rest of us.
Including those issues in the public interest that would be at risk in a Trump presidency but fulfilling the corporate dreams would be ignoring environmental objections to pipelines and drilling of fossil fuels, of removing safety requirements on vehicles we drive, and removing the Biden administration initiative to remove junk fees on our overdrafts, to be specific.
More forgiveness of student loans? Forget it. Instead of stopping mergers of airlines and supermarkets whose antitrust action's purpose would be to eliminate competition so they can raise prices on consumers without impunity? Forget that.
That greedflation is not subject to excess profit taxes, as Biden proposes? Forget that, too.
The media that reports the bad news and the good news, would have licensing problems for reporting any bad news coming out of the White House if Trump disapproves of them. He has already threatened that. Most disturbing Trump'plan is the replacement with MAGA appointments to the Federal Reserve instead of those who govern interest charges with skill. He would force them to lower interest rates because it is good politics. So what if it eventually wrecks the economy. So, those whose eyes gloss over when it comes to economics, with a Trump administration both consumers and their pocketbooks, health, and safety are casualties as the favors go to the powerful bootlickers. It is exactly how Viktor Orban became dictator of Hungary, pursuing policies that favored big business donors as democracy died in that country.
Additional note: already at risk of destroying the power of regulatory agencies, and leaving the details to non qualified experts, courts and lawmakers, is a case now before the Supreme Court; regarding the long standing Chevron Dictrine. Supreme Court hears arguments in a case that could weaken federal rulemaking : NPR https://www.npr.org/2024/01/17/1224939610/supreme-court-chevron-doctrine.
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