Gongol.com Archives: January 2017
January 31, 2017
Warning: The President wants an inflationary currency
President Trump to the press corps today: "Other countries take advantage of us with their money and their money supply and devaluation. Our country has been run so badly, we know nothing about devaluation." This ought to put anyone who believes in a growing real economy and a sound dollar on full alert. The President doesn't set the money supply -- but he does nominate the Chair of the Federal Reserve, and although Janet Yellen has a term on the Board of Governors that lasts through 2024, her current term as Fed Chair expires in 2018. There are plenty of institutional safeguards in place to protect the Fed from political pressure, but there's also a lot of damage a President can do via appointments, from the bully pulpit, and via regulatory and tax tools. The mere fact that a sitting President of the United States would bark openly about "devaluation" of a currency as if it's a tool that we have under-utilized is a dangerous thing. Fiat currency depends upon the faith of the people who use it. The bigger problem may be that President Trump doesn't understand the actual state of the economy, and he's aggressively promoting the use of tools that are inappropriate to its current condition.
There is only one Syrian orphan living with a US family
It's good and bad news: The good part is that observers seem to think the children who get separated from their families in the troubles plaguing Syria are able to be reunited quickly with extended family as necessary. But the bad news, more glaringly, is that there are lots of entire families who still need help -- and who won't get it from the United States, if the Trump Administration has its way.
(Video) Danish television system produces a 3-minute video that probably speaks more to the value of common humanity than we readily acknowledge
Boy Scouts of America opens door to transgender Scouts
The BSA is a fine institution with a great deal of good it can do for young people. Getting rid of arbitrary obstacles to participation is a laudable step for the organization to take.
Someone just bought 19% of a Russian oil company