Inflating the Dollar Does Not Create Jobs

It must be frustrating to be a Trump supporter. It seems like the entire world is against you. The media has gone from loving a man who bombed a half dozen Muslim countries and stagnated the economy, among other things, to nitpicking a successful businessman who oversaw economic growth the day after being elected. It was not too long ago that Democrats were cheering the stock market and job growth under Obama. Nevermind that most or all of that happened only when Republicans took back Congress. When Trump does the same thing even faster and better, there is utter silence. Have we really come to such a psychologically 1984 world of doublethink? We were always at war with Eastasia or Eurasia or whatever it was.

Now a hedge fund manager is getting press for claiming that the only way for Trump to be able to create jobs would be to inflate the currency to make debt easier to pay off and exports more appealing. Not like we have been inflating the currency for years. This is of course utter nonsense to any sane rational person, let alone a proper economist. How does weakening and destabilizing a currency make job growth better? Are countries with weak currencies doing well in the employment category?

When Obama was president, he had a magic wand and could teleprompt or spend jobs into existence. According to the experts, Trump has no such luxury and will be stuck with destroying the dollar. Lets forget that he emphasized heavily the need to cut taxes and regulations, the tried and proven, logically and empirically, method to encourage job growth. This is either impossible or not a concept to these economic terrorists that plague us all.

If you cut taxes on businesses, they are more encouraged to take profits and reinvest them. That creates jobs. Or heaven forbid, they give dividends to the shareholders and a bonus to the big bad CEO, who then goes out to buy a yacht and employ hundreds of people in various industries.

And what about regulations? It amazes me how the left loses their composure when someone mentions deregulation. But what about the …?! Surely, there is at least one regulation that can be removed out of the myriads in the Federal Register. Indeed, organizations like the Institute for Justice have made it their mission to fight such things. The most infamous one at the moment might be the occupational licensing of hair braiding. Women have been doing this for millennia, but special interests decided to limit this. In many states, women wanting to make some extra income most do more classes than a regular hair cutter. Just to fold and wrap hair! That is killing jobs and potential jobs. When you point such things out to a reghugger, they go quiet or scurry off to talk about rotten meat and snake oil (both urban legends).

If Trump and Congress cut taxes, especially on businesses, cut spending, and cut regulations by even a small fraction, millions of jobs would be created. How ever did we get by before all these taxes and programs and regulations? If a Democrat were to propose deregulation (as Obama, Clinton, and Carter/Kennedy did), the media would cheer it on.

My ISFLC and CPAC reports will be out eventualsoon, and other good news is forthcoming.

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