Reports surfaced yesterday that Donald Trump is planning to nominate to the Federal Reserve Board the controversial (and disgraced) former presidential candidate Herman Cain.
This weird and unsettling move led to the Washington Post economics expert to writing a brutal takedown of the former pizza chain mogul and his very unusual views of monetary policy.
Fed nominee Herman Cain can’t understand basic policy issues https://t.co/mWuZBrHzL3
— Bruce Bartlett (@BruceBartlett) April 5, 2019
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In her column, Catherine Rampell calls Cain’s views on economics “quack-tastic†and says that he would be unfit to serve on the Fed even if he didn’t have a long list of sexual harassment allegations dogging him.
“Perhaps the bigger issue is that Cain has said — repeatedly — that the United States should return to the gold standard,†Rampell wrote. “This stance has been roundly rejected by actual economic experts. That includes, for instance, every single economist surveyed by the University of Chicago’s IGM Economic Experts Panel.â€
Rampell also pointed out that Cain had been involved in right-wing grift schemes ever since his presidential campaign went down in flames in 2012.
According to Rampell:
“Cain spent the years following his failed presidential campaign spamming his email followers with snake-oil scams, promising ‘weird tricks’ that would make his followers get rich quick or ‘naturally’ cure their erectile dysfunction.â€
“Of course, such grifting might enhance Cain’s candidacy in Trump’s eyes, but it hardly bodes well for a man seeking to join an institution with consumer protection duties.â€
Cain’s one possible virtue is that, during his aborted presidential campaign, he once complained that the Fed had become too “politicized.â€
MSNBC Video of Cain Raises Eyebrows and Causes Tears
Adding to the controversy of the Cain pick this morning, MSNBC’s Morning Joe played an unsettling yet hilarious video from Cain’s 2012 presidential campaign.
After watching the Cain video the entire Morning Joe panel broke down laughing, and co-host Joe Scarborough had to wipe tears from his eyes.
You really have to watch it for yourself.
CLICK HERE to watch the hilarious Herman Cain video on MSNBC
[Note: it begins at the two minute mark.]
I am a lifelong Democrat with a passion for social justice and progressive issues. I have degrees in writing, economics and law from the University of Iowa.
