Today, The Two Mikes spoke with Professor Michael Busler.
Dr. Busler teaches at Stockton University in New Jersey. While Trump is not yet inaugurated, Dr. Busler said that, from an economic perspective, he is “extraordinarily optimistic for the economy going forward.
Dr.Busler said that Trump has correctly targeted energy as a starting point for driving down prices and easing the budget problems of both businesses and consumers. On the business side, energy prices are directly responsible for 8-percent of the GDP, and indirectly contribute 30-percent. Trump, Dr. Busler said, demonstrated he can get the U.S. government out of the way of private enterprise and that his first-term policies provided “opportunities for all”, and ended his term with a national inflation rate of 1.4-percent.
Professor Busler noted that the new Trump administration does face an economic challenge in the refusal of the Federal Reserve chief, Jerome Powell, a person, who over his tenure at the FED, made four serious and economy disrupting errors that insured the decline of the economy and also acted against its recovery. There is no easy answer as Powell and the FED are independent of the three branches of the federal government. The answer to the problem, of course, is to get rid of the Fed altogether – which has periodically savaged the U.S. economy since its creation by a congressional law. The Congress can pass a new law that eliminates the law of 1913 which created the FED. Afterward the administration of the U.S. economy would be handed the U.S. Treasury, where it always should have been. Dr. Busler, however, said that it would not be easy to get the Congress to pass a repeal of the 1913 law, as the FED has built its own sector of powerful supporters and lobbyists.
Finally, Dr. Basler reminded Americans that the Biden Administration’s electrical-vehicle mandates and subsidies have nearly killed the U.S. industry. It is only the U.S. federal government that would provide enormous subsidies and illegal mandates to try to force the Americans to purchase cars that Americans do not want and cannot afford.
Regarding the new Trump Administration. He said he expects to see a revival of the four concepts that made the American economy the envy of the world: (a) individual freedom; (b) individual responsibility; (c) low rates of taxation; and (d) limited government that stays out of the way of private investment and other economic activities.
You can read more from Dr. Busler:
https://www.newsmax.com/finance/insiders/michaelbusler/id-629/
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