Trump’s Mobsters in the White House Deflect Blame for Falling Market

The Great Recession

Before Trump was even inaugurated, I said he was clearly draining the swamp directly into the White House. That was obvious as soon as he nominated a Goldman-Sachs roster to fill all the financial cabinet positions. Some wishfully said he was playing 4-D chess by keeping his enemies close. I called baloney. He was simply being Sached. One of those from the Goldman roster was Steven Mnuchin.  

Today we got a prime example of how the mobsters are going to spin the current market train wreck for their own gain … and they will probably succeed. Munchkin, as I prefer to call him, because he lives on Goldman’s sacks of gold, stolen pavers from the yellow-brick road …

… has weighed and measured the recent destruction that put the Dow Jones Industrial Average on track for its worst December since 1931, and he appears to have drawn his own conclusions as to the impetus. Mnuchin during a Tuesday interview with Bloomberg News in Washington said that the effect of the financial-crisis-era Volcker rule and high-frequency trading have combined to sap liquidity in the market and insert an unprecedented measure of volatility in assets. (MarketWatch)

Yeah, that makes sense! It couldn’t possibly be that the Federal Reserve, by extracting $50 billion from the nation’s money supply every month, is draining liquidity. No, draining tens of billions of dollars out of official money supply couldn’t possibly be the liquidity drain. It MUST be the Volcker rule — a banking regulation that Bankster Munchkin hates, that is the problem.

Read the rest here: The Great Recession

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