nomorempat

Peter Navarro, Larry Kudlow, Pepe the Frog?

On a scale of one to Ed Prescott, how bad is Trump's economic team?

Well, that's a relief. Here I was thinking that the most powerful economy in the world was being advised by willfully ignorant sycophants.

Here's a guess at his reply.

Oil companies are some of the most powerful in the world. He's not arguing to shut them down, just policing actions that manipulate markets to give an advantage to the trading desk.

Geologists will still be employed. Exploration will still continue, because oil is an amazing store of energy. However, collusion disadvantages poor people who have no choice but to consume oil or its refined products for energy.

If that were true, then maybe you'd have a point. Politicians just pick and choose economic analysis that fits their prior beliefs and politicians tend to not revise those.