A Little off Topic but Extremely Important - Barbara Rockefeller and Biased Commentary

[John Lucia]

Yesterday, 5-1-2019, Miss Rockefeller made this statement in her daily article: “We expect the dollar pullback to persist for another couple of days, but it’s not inconceivable it could turn into a rout if the Fed sounds overly dovish. It shouldn’t, on the economics, but it might, on the erratic and incompetent president.”

I sent her an email and simply said - “You have a right to feel however you want about our President but your personal opinions have no place in an article on the possible effect of the Fed's speech on the dollar.” I signed it “Respectfully” to let her know that I valued her opinion and was not trying to instigate or argue politics with her.

This was her response:

“It is not a “personal opinion” that the president is erratic and incompetent. It is the collective judgment of 99% of the experts in psychology, economics, foreign affairs and American politics. Not a single expert in any field thinks Trump is mentally stable. The American psychiatric and psychological associations have written numerous articles and letters to say so. This material can be found easily in words of one syllable at places like https://www.psychologytoday.com/gb/blog/mind-in-the-machine/201812/complete-psychological-analysis-trumps-support. It is nearly universally accepted that Trump is a narcissist who nurtures grievances and refused to take repsonsbility for his own actions. Most of us trained economists had to go out and buy books on personality disorders.

And my clients pay me to cover all the possible effects on the currency markets, and that has included Trump from the early days of his presidency, including the tariffs, Nafta re-write, trade war with China, threats of auto  tariffs on Germany (which has something to do with the weak euro), earlier threats to fire Fed chief Powell, and other actions and words from the White House. For the president to call for a 1% cut in the Fed funds rate on the same day the Fed has started it s policy meeting is unprecedented interference with a supposedly independent government body (previous interference was behind closed doors). In the past, Trump would say out loud he can fire Powell and then a few days later say he is “stuck” with Powell. The first statement caused the dollar to fall and the second caused it to rise.

This is a prime example of “erratic” behavior. Not a personal opinion but a Fact. I know Trumpies are happy with the 10,000 lies Trump has told since taking office, but sane and reasonable people are not.

 

I have been doing FX analysis for 30 years. I know what influences the FX market. Trump is definitely an influence. If you think Trump is stable  and competent, you would have a hard time making that case. That he is erratic and incompetent has a lot of bearing on whether he influences the Fed or not.

 

You are being blinded by loyalty to Trump, I assume, if you are driven to criticize the obviously, demonstrably true statement  I made. That’s your privilege, of course, but you don’t know what you are talking about. You are entitled to your opinion but you are not entitled to make up facts.

 

And even if you had the stature of a big-time political scientist or economist, we could still have a valuable argument about whether Trump is erratic and competent. The difference is that big-time political scientists and economists actually listen to and consider opposing opinions. But you would not ,would you? So it’s a waste of my time even responding to you.  

 

I am going to block your name in my email because I do not wish to converse with anyone with a closed mind. I feel sorry for you.”

Wow! Now, who do you feel has the closed mind? My email bothered her so much that she makes reference to it in her article for today. Really Barbara - did I strike a nerve? Who is making up facts? I was simply making a case for unbiased journalism. Yet, you call me a “Trumpie”, say I don't know what I am talking about and go on to make other opinionated statements? I honestly didn't even expect a response let alone one that attacks my character.

Readers of this, I appeal to you! Although Miss Rockefeller's morning briefing is a paid subscription service and she has the right to write whatever she wants, we must speak up against those that wield the pen and other means to force their opinions upon others. This is not about whether you are a Trump fan or not. Do not respond with comments for or against the President. This is about truth and stopping the rampant brainwashing of the American public by the media, advertising, music industry, Hollywood and the elite few. This practice of influencing our beliefs knows no political or social boundaries and must be stopped. I think that I can safely say that as Americans all we want are the facts. We are smart enough to form our own opinions and don't need others rammed down our throats. The next time you watch TV, read the newspaper or go on social media, be cognizant of the message and if it is rooted in fact or opinion wrapped up to look like fact. For example, the headline of Miss Rockefeller's April 16^th briefing read “Fed's Evans to Trump: shut up and you'll get no more hikes”. That was never said. If you read the article you will see that once again she is making her opinion appear to be fact. He said “the Dec hike was not a mistake and he will be happy to leave rates alone until fall of 2020”. Now, in today's busy times, many people scan the headlines and do not read articles all the way through. So, when they read this false headline, they take it as fact and it makes President Trump look bad – which is exactly what the writer intended to do. So, if you feel a message is biased, speak up – do something about it! A relatively small group of people are influencing the American public's perception and thinking on a myriad of issues. I doubt that it will ever stop but you have the power to filter through the noise and get to the facts. Exercise that power! Don't be led blindly down the path. Make a difference!

Should you feel inclined to express your agreement or disagreement with Miss Rockefeller's comments, she can be reached at [e-mail]. Above all, please be respectful in your correspondence.

Thank you!

[kypa]

She's full of BS and T. is a cretin.

However "his" decisions (the erratic and pretending to be incompetent instead of evil ones) are taken not by him, but by her cousins, so that explains the situation and closes the circle. And the circus.