Why do the Democrats keep losing? Chapter Two: Keeping GOP in Power

Democrats keep appointing and reappointing Republicans to Cabinet level positions and other high office over and over. How do they justify this? Do they think these acts of appeasement will convince unruly GOP members to cooperate with Democrats on important bipartisan legislative or policy goals? It is not working!

This argument has not proven to help Americans at all.(2)

Jerome Powell is a creature of the Republican Party and a former investment banker. His reappointment is meant to soothe the volatile markets. Excuse me, but markets have been volatile under Republican Party leadership for a very long time. I offer my LL.M. Taxation Thesis as support. My research yielded the conclusion that markets, since WWII, fail on the average of every two years.

Jerome H. Powell Chair of Federal Reserve
Jerome_Powell

So how is Powell’s reappointment as Chair of the Board of Governors of the Federal Reserve a solution to volatile markets?

“Jerome Powell took office as chairman of the Board of Governors of the Federal Reserve System in February 2018, for a four-year term ending in February 2022. His term as a member of the Board of Governors will expire January 31, 2028.”

Mr. Powell, a lifelong Republican, will have held a critical national financial position continuously from 2011 to 2028. That is 17 years. Seventeen years is a very long time for someone who has not been voted for to hold office. Add that to his earlier years in the 1990s and Powell has had an oversized influence on U.S. financial policy.

Removed enough from electoral control for you? The Federal Reserve is not under the control of any branch of government. Once Board members are appointed by the President, they may use their independent judgment until the end of their terms.

“Between 1990 and 1993, Powell worked in the United States Department of the Treasury, at which time Nicholas F. Brady, the former chairman of Dillon, Read & Co., was the United States Secretary of the Treasury. In 1992, Powell became the Under Secretary of the Treasury for Domestic Finance after being nominated by George H. W. Bush.[23][25][22] During his stint at the Treasury, Powell oversaw the investigation and sanctioning of Salomon Brothers after one of its traders submitted false bids for a United States Treasury security.[26] Powell was also involved in the negotiations that made Warren Buffett the chairman of Salomon.[27]” (3)

“Powell served as an assistant secretary and as undersecretary of the Treasury under President George H.W. Bush. There, he was responsible for policy on financial institutions, the Treasury debt market, and related areas. In 2011, Powell was nominated by President Obama to the Federal Reserve Board of Governors, where he served as a Governor until his confirmation as Chairman in 2018. Before public service, he worked as a lawyer and investment banker in New York City. (1)

I hate this American Dream crap.
There is no evidence to support the belief that 25% or so of us could achieve ‘the American Dream.’ Why wave it around in our faces instead of creating a decent social safety net for your inhabitants?
Let us begin by defining what ‘the American Dream’ means. A discussion cannot proceed without agreement on the definition of all terms.
Is ‘the American Dream’ a swimming pool in the back yard? Is it an Escalade and an Infiniti in the driveway? Or is it creating your own island, like Richard Branson? That’s right. There was no there there. Branson built Necker Island so he could own his own kingdom. Make all the rules.
That’s really not good for one’s character. We all must have someone who can tell us NO. I always do better when I have someone around me whose judgment I trust and whose analysis I respect.
So if the American Dream means that I don’t have anyone who can tell me NO, I don’t want anything to do with that kind of life.
This is why I hate this American Dream crap. It is dangerous to everyone.

cc.by.4.0

People’s History of Stock Market Crashes: Timeline of Economically Significant Events

(1)https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/22/president-biden-nominates-jerome-powell-to-serve-as-chair-of-the-federal-reserve-dr-lael-brainard-to-serve-as-vice-chair/#:~:text=Jerome%20Powell%20took%20office%20as,will%20expire%20January%2031%2C%202028.

(2)https://en.wikipedia.org/wiki/List_of_United_States_political_appointments_across_party_lines

  1. (3)https://en.wikipedia.org/wiki/Jerome_Powell
    https://www.pandora.com/artist/miles-davis/kind-of-blue-legacy-edition/blue-in-green/TRzZtj
    https://www.washingtonpost.com/lifestyle/2021/11/29/white-house-decorations/?commentID=42771d7c-c0fd-4fd9-8ac8-8d4356c43952
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