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American Stock Story[2024]

As expected, Trump nominated Scott Bessent, a former hedge fund

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As expected, Trump nominated Scott Bessent, a former hedge fund, as his treasury secretary. A political science major at Yale University, he is more widely known as the spearhead of attacks against the pound in the past at the Soros Fund. He is gay (I miss my favorite scientist, Alan Turing), and he is not from the orthodox financial sector who actively supported Trump's tariff policy.

He is also a proponent of the America First policy. His policy is to reduce the US debt to below 3% of GDP, sustain economic growth by 3% per year, and maintain US oil production at 3 million barrels per day. He also insists on a strong dollar to reduce the US debt by $1 trillion over 10 years and maintain the dollar's reserve currency.

According to him, raising tariffs does not result in inflation. Still, it seems a bit absurd to say that Trump's policy of insisting on tax cuts will require increasing US debt, which will be reduced to tariffs alone. Tax cuts will require an increase in dollar debt at the beginning of the Trump administration, which also has some contradictions in claiming excessive strong dollars considering interest costs.

It is a point to see whether the president of the hedge fund, who does not recognize the Treasury Department, which was dominated by Goldman Sachs and Morgan as a traditional financial group, will be able to penetrate the territoriality of his vested interests. Another point of view is whether the contradiction between tariffs and tax cuts, but maintaining a strong dollar, can be well applied to the market. Rather, I think he, who insisted on the "shadow Fed chairman", is likely to have become the treasury secretary as a means of restraining Powell. Isn't this the most important reason for pushing Rutnick to the position of the Treasury secretary?

Trump picked Trump because he wanted a strong leader after growing tired of Obama, who was so moral and FM, but Trump lost the presidency to Biden due to COVID-19 and policy failures. We also chose Moon Jae In, where the people who were enraged by the Park Geun Hye's manipulation of state affairs were morally right. However, we chose the current president who seemed to be a strong man based on his charismatic leadership, lack of expertise of his staff, and, crucially, his failure to deal with the cause and roots of the manipulation of state affairs that the people want. As a result, the economy, society, and the general administrative system are now in disarray. Indeed, rumors of corporate bankruptcy and economic collapse next year's economy are all over the place...

As the president-elect, no one can oppose Trump's remarks. He will spend the honeymoon period, but as time passes, he will act beyond social norms and common sense. According to Trump's nomination, the administration is composed of his own people with the recognition that he used traditional Republican cabinet members in his first term and did nothing due to their opposition. Since Trump monopolized the race, neither those who will criticize him nor those who will criticize him will remain silent for now. However, the U.S. has descendants of representatives from 13 states that took pride in achieving independence through its war with Britain. They also unfold their fantasy that they would not just sit on the sidelines like Yellen. Suddenly, I think of Freemasonry. I should stop writing useless novels and always follow the deadline for library loans, so I should read books......

P.S. Yesterday, I benefited a lot from the new sneakers I bought. Sneakers with thick soles are the best for me who have flat feet.

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