Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
How Bad Is Our Economy In 2017? Very bad!
[Image: scaramucci-1.png]

DAVOS, Switzerland — One of the stars of this year's World Economic Forum has been the lone representative of the incoming Trump administration: US President-elect Donald Trump's adviser and "official liaison" Anthony Scaramucci.
The general zeitgeist at this year's conference is fear: fear of the rise of populism and extremism, fear of a turn to protectionism and trade wars, fear of a new US president who sometimes sounds refreshingly pragmatic and impolitic and at other times sounds unhinged.
At a small briefing Tuesday, Scaramucci explained that part of his job was to calm the fears that Trump would do something crazy and to explain the philosophy behind Trump's plans in language the business community is comfortable with.
Scaramucci was as calm, articulate, and clear as Trump is bombastic. He worked the assembled international press representatives like an old hand. And, unlike other luminaries in private briefings here, he spoke on the record.
At the end of the briefing, one journalist observed that Scaramucci sounded "ridiculously sensible" and asked how we should reconcile this with the impression Trump often creates. Scaramucci explained that part of his job was to show Trump to be more sensible and reasonable than he might appear.
In the exchange below, Scaramucci explained his view on the root of the economic misery that is creating such upheaval in the US and around the world: the shafting of the middle class. He drew a comparison with an earlier period in history — the robber-baron era — and described Trump's high-level policy plan to address it.
In an unusual acknowledgment for a government representative, Scaramucci also said fixing the problem would take a long time — five to 15 years.
QUESTION: You said this morning that the Trump administration would like to have "symmetrical" trade deals. Only with China? Or with other countries, too?

ANTHONY SCARAMUCCI: I would refer you to [the head of the White House's new National Trade Council] Peter Navarro or the president-elect for the details on that. What I can talk more broadly about is the philosophical idea.
I think it's super important for the world and for the political establishment to fix the wage problem that we have in the middle-income and lower-middle-income portion of our economy.
We recently saw some good jobs numbers and wage data. If you look at the economy, you'll say it's at full employment, and that sounds like a good thing. But if you do a clinical assessment of the data, you'll find that a lot of the work was in part-time jobs or jobs of lesser quality in terms of the ability of that job to sustain a family.

Forum Jump:

Users browsing this thread: 1 Guest(s)