The Daily Walk with Miracles
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Donald Trump set to completely scrap
US consumer protection agency. This is corrupt
and evil and we will not support it. President
Trump does seem to be creating some of the jobs
necessary to help guard against jobs lost to technology,
but I see him doing little to address inequality
or problems in upward social mobility that America
so desperately needs from our President. The terrible
thing is that this seems deliberate on his part.
July 15, 2017
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Donald Trump set to completely scrap
US consumer protection
Dismantling Consumer Protection is Corrupt
and Evil and We Will NOT support it.
The Daily Walk with Miracles, updated July 15, 2017, by Paul Evans. There was a flurry of news about this around March 14-15, and we are simply reporting from that, with our own conclusions. This “Consumer Financial Protection Bureau” has in fact since it’s inception in 2008, saved ordinary Americans some $15.8 Billion in corrupt and unwarranted costs. It highlights the corrupt corporate control that the Republican Party now labors under, and was a reform pushed by Senator Elizabeth Warren (whose ideas for government we do not support). The Daily Walk with Miracles fully supports business-friendly regulations and reforms of overwhelming red tape, but this is no such thing. The accompanying video is Pride of Man.” (YouTube playlist)
Donald Trump probably going to do the wrong thing about consumer protections because of the tremendous influence of corporate lobbyists in the Republican congress… he is under tremendous pressures… and I cannot support this dismantling at all. Donald Trump IS creating a lot of new jobs, but most of these are the old minimum wage jobs that rise and fall on consumer confidence. I have even wondered if our Illuminati masters are not doing the same thing from the right to us which they did to us from the left with Obama: that Trump’s professed caring about the common man is some kind of sham, and he’s just another billionaire. What is going on is NOT subtle, there was the “Buy American, Sell American” executive order, and that is the only thing Trump has done that I fully agree with. Mostly he seems to be giving a total green light to America’s big corporations and the banks and this emasculating or eliminating of the CFPB is just another nail in the coffin of the common man.
NEW: See Why Congress’ assault on Consumer Bureau may succeed (CBS News); and It’s up to the States to protect us now, US News, for later developments in CFPB news.
It can be shown that if we do NOT wrest America free of the overweening influence of the billionaire investment bankers and defense contractors, we will have a depression twice as bad as the Great Depression. Chaos and probably nuclear winter would ensue. Somehow, we MUST get free of these lobbyists and their minions in Congress, even if Donald Trump might seize power somehow. I care so very much about ordinary Americans, the question has to be asked, does Donald Trump care about the common man?
See Would Trump supporters elect him again now?, The Guardian, April 25, 2017, by Tom McCarthy: Most Trump supporters are with him all the way, but others have had enough, and the resistance is taking root. How much of “the genuine article” IS Donald Trump. See Mnuchin vows ‘biggest tax cut’ in US history, confirms plan to slash business rate, Fox News, Politics, April 26, 2017, by Fox News:
Treasury Secretary Steve Mnuchin confirmed Wednesday that the Trump administration aims to lower business tax rates to 15 percent, saying a forthcoming proposal will constitute the “biggest tax cut” for Americans in history.
Oh, these tax cuts WILL heat up the economy. That is, unless it totally implodes under our burgeoning debt. You can expect some sort of market correction or worse. The rich are insisting on living high, and not really paying for it. Is Donald Trump totally pro-business at the expense of the common man? Where is Donald Trump going to get the money to PAY for these tax cuts and the $trillion dollar infrastructure program and rebuilding the military. He would have to cut Federal programs deep into the bone. I cannot support this overall. You know they are not going to pass constructive tax reform with this Congress. 100 days into the Trump Presidency, I’m beginning to be appalled.
As The Independent reports in their article “Donald Trump set to completely scrap US consumer protection agency, says man expected to lead it,” March 14, 2017, by Tom Batchelor:
Exclusive: Former Texan Congressman tells The Independent his Republican colleagues want the Consumer Financial Protection Bureau to be completely dismantled.
Loan sharks, payday lenders and rogue debt collectors could be given carte blanche to rip off American customers as part of a touted shake up of the Consumer Financial Protection Bureau (CFPB).
Randy Neugebauer, considered the favourite to replace the current director of the CFPB, said Mr Trump was facing pressure from inside the Republican Party to dismantle the agency entirely.
…Speaking exclusively to The Independent in his first interview since the new administration was installed in the White House, Mr Neugebauer said his meeting with Mr Trump included discussions about deregulating financial markets and gutting the CFPB.
Swift Money continues:
Neugebauer (officially) views the current regulation as blanket regulation meant for the whole financial market yet some entities weren’t part of the cause of the financial crisis that warranted the 2010 Dodd-Frank financial regulations. In his opinion and those of many others, the regulation went too far.
Under the current CPFB director Richard Cordray, customers who have been victims of credit scams or unfair banking sector practices have received billions in compensation. However, Mr. Neugebauer claims that the problem was overstated and individual states were doing a better job when compared to the CPFB.
The lack of regulations (such as Glass-Steagall– which had separated savings banks from investment banks and is desperately needed — which Bill Clinton removed), regulating the investment banks is FULLY responsible for the mess America is in, financially, and for the discomfort and poverty of our citizens. There are $552 Trillion in sh*t derivatives out there, mainly repackaged as “CDL’s” and bonds illegally given AAA ratings by Moody’s and others. If we do not address the poverty of our people, such as the fact that 50 to 75 percent of us live paycheck to paycheck, economic karma will hit us with the worst depression ever. It has even occurred to me that, given all of Bill Clinton’s, W. Bush’s and Obama’s complicity in this, that that is actually the plan. Sadly, it is just unfettered greed. Gordon Lightfoot in his “Pride of Man,” (YouTube playlist) has the lyric (from the Bible), “oh thou that dwell on many waters, rich in treasure, wide in fame, bow unto a god of gold; they pride of might shall be thy shame.” Sadly, we are all going to suffer for the greed of the super-rich. If things go on as they are, we are not just going to have a 20 percent market correction (as the Royal Bank of Scotland claimed some two months ago), we are going to have a depression twice as bad as the Great Depression. God only knows what will happen to the common man. Are they just going to ship us off to the FEMA camps and replace us with robots?
The 2010 Dodd-Frank regulations were utterly emasculated from what they should have been. There are a lot of loopholes and watered down language in Dodd-Frank and it in no sense even goes far enough. Simple, direct and fair legislation is needed and apparently neither Donald Trump nor Congress, especially Republicans, nor Neugebauer are willing to actually fix the loopholes or the problem. Apparently they want to just do away with the consumer protections altogether. Attention has already been called to Trump’s queasy, too close affiliation with organized crime, and the investment banks such as Goldman Sachs who far too much carte blanche to almost run this country, far too much are making wrong choices in their unfettered greed. If this is the way Mr. Trump’s Presidency is going to shake down, The Daily Walk with Miracles may even have to rethink its full support for President Trump. Ralph Nader must be horrified as I think all intelligent, informed Americans must be.
See Inequality and The American Dream, The Daily Walk with Miracles, April 3, 2017, by Paul Evans: “Bloomberg, the Atlantic and The Daily Walk with Miracles examine inequality and the American Dream.” President Trump does seem to be creating some of the jobs necessary to help guard against jobs lost to technology, but I see him doing nothing to address inequality or problems in upward social mobility that America so desperately needs from our President. We will give him time, but the American people are not fools and Trump’s approval rating now is near 16 percent. That’s higher than Congress’s and banks’s approval rating, but not much.
Hillary Clinton as I see it offers no kind of answer either. The Clinton Global Initiative is totally invested and committed to incredible corruption in Nigeria which has so far only benefitted the rich there and has caused a million Nigerians to become homeless. The Clinton Cabal are utterly corrupt and ruthless too. Actually, America in the 21st century is corrupt and it’s politics are vacant of the interests of its citizens. We nominated (apparently) two corrupt and wrong-minded Presidential nominees while China, for example, is planning 50 years in advance in very rational, organized ways for the benefit of all it’s citizens. I grieve for us, America. Is Donald Trump “succumbing” to pressures to dismantle or gut the CFPB or is he leading the charge. Do the right thing, President Trump!
Also see Hillary Clinton, Huma Abedin and Saudi Arabia, The Daily Walk with Miracles, April 3, 2016, by Paul Evans.