Steve Bannon: "Janet Yellen Was My Girl"

Dedicated readers will remember that, during the heady days following President Donald Trump's shocking electoral triumph in November 2016, Steve Bannon gave the first of many unauthorized and wide-ranging interviews to the Hollywood Reporter's Michael Wolff (a decision that would famously come back to haunt him) where he declared that he was "not a conservative" and that, as a nationalist, he wanted interest rates to stay low, and for the US to "get everything all jacked up" with a massive infrastructure spending plan that, ironically, the White House is only now getting behind.

Bannon

With this in mind, it shouldn't come as a big surprise that in comments published in the introduction to a new book "Devil's Bargain: Steve Bannon, Donald Trump, and the Nationalist Uprising", the former White House chief strategist and nationalist standard-bearer revealed that he urged Trump to reappoint former Fed Chairwoman Janet Yellen - and stick with decades of precedent whereby the incoming administration keeps the previous Fed chair - but kept his mouth shut has Trump passed her over in favor of Republican Jerome Powell.

"The Breitbart posse is in love with Janet Yellen. If we get behind her, that is the signal of signals -- the realignment of American politics, ” Bannon told the book’s author, Bloomberg’s Joshua Green, in September, several months before he stepped down from the conservative media outlet. "Yellen’s my girl."

Bannon didn't endorse Yellen, and Trump picked Powell, a Fed governor since 2012 who is expected to stick with his predecessors' policy of raising interest rates only gradually. Unlike his predecessor, Powell has so far been reluctant to step in with a "Powell put" to calm the market turmoil that has coincided with the beginning of his term.

As Bloomberg points out, Yellen oversaw a steep drop in the US unemployment rate to the lowest level since 2000 while failing to boost wages prompting many to ask if the Phillips Curve is dead. Still, she didn't mask her disappointment about not being reappointed, telling PBS during an interview on her last day in office (as the Dow plunged more than 1000 points) that she was "disappointed" not to be reappointed, and that she would've liked to serve another term.

Bannon, meanwhile, was unceremoniously booted from Breitbart  because of comments he allegedly made to Wolff, which were published in "Fire and Fury" roughly a year after his initial interview.

Comments

caconhma WarPony Tue, 02/13/2018 - 10:14 Permalink

Steve Bannon, this clown never realized that he was simply used. 

Trump was "just appointed" as the US President by the zio-Banking Mafia but Steve Bannon assumed that it was him who masterminded the Trump victory. 

After all, Trump is a fake president and a diversion/show for common people who also think they their voices are counted.

In reply to by WarPony

Endgame Napoleon DownWithYogaPants Tue, 02/13/2018 - 09:33 Permalink

It is about issues, not personalities. He is there to represent what Deplorables voted for.

Bannon’s agenda on ending 1) mass-scale, wage-slicing, illegal immigration and 2) the offshoring of the US middle class to Asia aligns with the primary priorities of the Deplorables who put Trump in office.

Once there, the socialist RepubliCONs focused on one thing: a giant tax cut for themselves and their campaign donors and an outrageous increase of tax welfare — a doubling of it — to reward welfare-eligible and non-welfare-eligible parents who often just work part time, including the following:

  • illegal alien households with a male breadwinner, staying below the earned-income limit for welfare and the cut off for child tax credits in [traceable] income, who receive layers of monthly welfare that covers their rent & groceries and now-doubled child tax credits, which used to top out at $6,444 before doubled by the RepubliCON tax cut / tax-welfare plan, with illegal aliens often getting the child tax credit for maximum womb productivity; 
  • single moms, working part time to stay below the very low—it was a little under $900 per month when I worked at the Department of Human Services—earned-income limit for welfare, i.e. free EBT groceries, subsidized rent, free electricity, subsidized daycare, monthly cash assistance and the now-doubled (up-to-$6,444) child tax credit that hoists their paychecks over mine, when I work far more hours than them; 
  • married moms, working part time to add keeping-up-with-the-Jones’ income to an ample spousal income who bound out the door every day at 2:30, ignoring phones ringing off the hook with paying customers, and who take an enormous volume of excused time off for things like travel soccer in the many ultra-discriminatory, mom-dominated, back-watching crony jobs that hire / retain mostly moms;
  • dual-earner parents, taking two of the better, full-time jobs with benefits that could support several households in a middle-class lifestyle, a group that is usually well-vacationed, but that halved the size of the US middle class.

 

A large percentage of these parents will spend their refundable [EITC] child-tax-credit welfare or their non-refundable tax cut on self-indulgent items for parents, like the following: 

  • trips to Florida beach hotels to copulate with their latest boyfriend, with plenty of excused time off from work to do it beyond their PTO and multiple pregnancy leaves in their “voted best for moms” jobs; 
  • master bedroom furniture; 
  • $900 tattoos;
  • kitchen remodels;
  • trips to the Caribbean or Europe for the dual high earners; 
  • nail salon jobs;
  • other mom-pampering treats.

Meanwhile, millions of underemployed citizens have no spousal income, no child support check that covers rent and no access to the welfare potpourri for reproducing while single. This group lives on earned-only income, struggling to cover rent that absorbs more than half of their monthly pay. This group of citizens got a “tax cut” that will cover a Costco membership. 

Infrastructure spending would help some in this group of citizens—i.e. the citizens living on earned-only income—mostly just the single / childless males, married males with stay-at-home-mom wives and noncustodial dads. It would not help single, childless women, like me, nor would it help single moms with grown children, not in terms of increasing our earned-only income, anyway.

We would have safer infrastructure, which is a better expenditure of taxpayer money than the doubling of a child tax credit that pays for a 7th tattoo or hotel bills, allowing frequently absentee / part-time-worker moms to have sex with their boyfriends at the beach, particularly since their grocery and rent bills are covered by Uncle Sam, freeing up their child tax credits for mom pampering, as a spousal income that covers rent and groceries does for married moms.

I voted for piled-higher-and-deeper socialism for the womb-productive citizens and noncitizens. I voted for pay-per-birth neoliberalism on steroids. May as well have voted for Bill Clinton, albeit Bill / Hillary would not have managed to shove through more tax socialism to reward sex, reproduction and part-time work for citizens and noncitizens as a way to get a massive tax cut for the rich. 

 

In reply to by DownWithYogaPants

Kidbuck HockeyFool Tue, 02/13/2018 - 08:06 Permalink

I stopped believing a word this article said after, "Yellen has lowered unemployment." Unemployment has been reduced by not counting those going on SSDI, those not looking for work because all jobs they can find suck. Counting adults 80 years old working in grocery stores as employed (rather than fucked out of any chance to retire), counting all those working part time as employed, counting all those working two shitty jobs as two people, etc.

In reply to by HockeyFool

Give Me Some Truth jcaz Tue, 02/13/2018 - 06:46 Permalink

And then he is going to be the man behind the curtain who picks all the right kinds of national political candidates.

The first candidate he backs is Roy Moore, a religious zealot who creeps out even half the population in Alabama. And very well may have been a child molestor  (or chronic harraser of teens who frequent malls.)

Excellent vetter of character, that Bannon.

In reply to by jcaz

BritBob Tue, 02/13/2018 - 06:37 Permalink

Foreign Policy:

 

Will Donald Trump get the US to moved off the fence from 'recognizing the de facto UK administration of the Falklands' to realizing that Argentina's Falklands' claim is spurious and that they have been duped into believing propaganda? Time to recognize that only the Falkland Islanders can determine how and by whom they are governed and kick that mythical Malvinas fairy tale into touch.

Obama called the Islands 'the Maldives' when he meant to say 'Malvinas' trying to curry favor with Argentina. Will Trump see through the myth?

 

Falklands - Argentina's Imaginary Territory (1 pg):- https://www.academia.edu/35715281/Falklands_Argentinas_Imaginary_Territory

 

RedBaron616 BritBob Tue, 02/13/2018 - 08:06 Permalink

BritBob, this is not the topic for discussion on this story. Britain will do well to hold on to the main island given your armed forces shrinkage. Pretty soon, the Falklands will be the least of your worries. Let the British Empire go. There are more sheep down there than people. Why would the US care who occupies the Malvinas?

In reply to by BritBob

Nature_Boy_Wooooo booboo Tue, 02/13/2018 - 08:57 Permalink

She is the far right version of the far left nut job.

 

Don't get me wrong I agree with her on most everything that she preaches but if you want to make bipartisan deals you need to have some middle ground.

 

Extremist on both the left and the right have contributed to destroying this country. Politicians now enrich themselves on partisan divides as the nation has turned into a never ending ping pong game.

 

Surprising to see that such a woman has never been married at her age.

In reply to by booboo

BraceforImpact Tue, 02/13/2018 - 06:47 Permalink

I mean the truth of the matter is that if I ran like the Fed, or ran my finances like the government, I'd be dead or in prison. Period.

 

Everyone is OK with this, and we deserve everything that's coming. I spent 3 years in near isolation finding out that everything we were taught and believed in was a lie.

 

All lies will crumble to the shit they were created from.

 

Several other facts remain:

-No one cares about anything or anyone but themselves. Period.

-The USD and all fiat will collapse to their intrinsic value of zero or near zero.

-There is no way out.

-You were never free.