More Proof Politicians Aren't Moving in the Right Direction
On Tuesday, we had a real good look at how in touch these politicians are with reality in their meeting with new Federal Reserve Chairman Jerome Powell. Here politicians get three hours to grill the new Fed Chief on his ideas and plans going forward. This is a great opportunity for the politicians.....that is if they take proper advantage of it.
Unfortunately, as this Market Watch article points out, they took their time to ask politically motivated questions, and questions that quite frankly, were not appropriate for the Fed Chairman to answer.
The article lists the frequently asked questions and subjects based on whether it was Republican or Democrat. The questions were low priority questions or questions that really were on the fringe of the Fed Chair's responsibilities.
If I were a politician, I would want to know how in the world the Fed was going to navigate interest rates in an already unstable world. I would want to know more proof as to why he thinks the economy can handle rate hikes. I wouldn't want politically acceptable terms. I would want real answers.
Finally and most important, I would want to know his thoughts on tackling the national debt. Now, this is a slippery slope for politicians since they created and continue to add to the problem. There were questions splattered here and there regarding interest rates. However, the National Debt was third from the last on the Republicans list and no where to be found on the democratic agenda for that meeting.
Imagine that - the one subject that threatens to bankrupt America and there is low priority to know the new Fed Chair's thoughts.
President Trump failed to address it in his State of the Union which was unusual. The politicians don't seem too concerned about it (based on how they are spending money).Yet, the National Debt continues to climb as I write. Today, we are at 20.6 Trillion. Currently, it has taken only 5 months to climb from 20 trillion dollars to 20.6 trillion. Thus far, we are on pace to add 1 trillion faster than we ever have done so. From 19 trillion to 20 trillion it took approximately 16 months.
This is supposed to be time spent asking questions of substance about the high priority of what he really oversees. Either they are too focused on being on camera, they are uninformed, or too busy playing politics. Bottom line is that they continue to waste everyone's time by playing politics and grandstanding.
Politicians are the real problem and the problem continues!