Elected public officials are supposed to be acting in the public interest, operationalized with making public policy.
Voters made the big mistake of voting a real-estate developer to be chief executive.
Real-estate developers, like Donald Trump, operate with an Ayn-Rand, Objectivist mentality. All the rules are really arbitrary and the only natural, moral dimension is whatever the ruling class says objective reality is. Thus, the public interest is “naturally” their self interest — and that is objective reality.
The president dismisses conflict-of-interest issues as a lot of nonsense because he identifies with the Objectivist identity. Naturally, people that own property are going to benefit from good offices in priority because they own the interest intended to be governed by objective — forming then (you see) the “objective reality.” They don’t see themselves as gaming the system because they are the system. If you can’t see this objective reality then you must be — as Speaker of the House, Paul Ryan describes it — “intellectually lazy” (a Randian euphemism for stupid).
There is a House bill, for example, pushed by Ryan and the “freedom caucus,” that will make it so employers can swap overtime pay for comp time. It is nothing but a swindle — racketerring, with a bunch of gangsters dressed up like upstanding business people, sporting the best-and-the-brightest, Ivy-Legaue credentials.
The natural result of such a public measure will be more declining income against rising prices, which is, in the aggregate, deflationary.
We will be hearing more about stagflationary tendencies, going forward, because the effect of bills like the one above on comp-time makes it so a person has to go to rich people for a loan to buy goods and services. At the same time (as I have pointed out in recent articles) the Fed is selling its book (the toxic assets of the Great Recession that did not disappear but were being held in reserve). That means the rent on money is going up while you are being “forced” to borrow at a “rising rate of interest.” This means that the Great Recession isn’t really over and we will see it in the form of stagflation going forward.
At this point, the political-economic landscape is very unstable. (It is going gamma!) We need public policy that stabilizes the risk dimension. Instead, we get policy that makes it worse because it is our “natural identity,” Objectivists say, and thus the right thing to do.
The objective reality, here, however, is that staying the course of the Reagan revolution is a threat to public safety and national security. It is quite naturally the wrong thing to do!