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This exceptional report by Ian Talley in the WSJ cites trade and currency expert William Cline about the prospect of a worsening trade deficit under the Trump administration. With an improving economy, says Cline, the dollar had already surged about 8% beyond its fair market value during the last 2 years under president Obama as the economy improved. After Trump's election it surged another 3%. This makes it likely that the trade deficit could approach 4% of GDP with the stronger dollar. More protectionist policy to support U.S. industry, worsening trade deficits, more trade friction could be expected in these conditions. He does point out that markets may be overestimating what will be spent on infrastructure, and how much interest rates will go up which support a stronger dollar. Yet the fact remains that under an administration that is keen on promoting U.S. exports a dynamic is underway that makes U.S. exports actually less competitive in international markets.

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Damian Paletta of the Washington Post says that credit goes to Gary Cohn a former Goldman Sachs president, and head of the president's National Economic Council for the way he has quietly built up a group of leading experts on major initiatives of the Trump administration such as tax reform, infrastructure plans. Compared to the infighting and other problems in the first 100 days of the Trump presidency, Cohn is credited with building a core of ideas and experts that bring Trump more to the centre and with the prospect of winning Democratic party support. He has helped shift the president to set up a more balanced approach, less confrontational with China and not calling China a currency manipulator, getting support for the Export Import Bank, and more receptive to the Federal Reserve led by Janet Yellen. This report says an alliance of moderates is centering around Adviser Jared Kushner, Cohn, and in other reports Tillerson in foreign affairs is seen as being part of this group. On NAFTA the president has moved to a less confrontational approach with Mexico, which has helped the Mexican peso recover and improved prospects for the Mexican economy.  On infrastructure new ideas to find financing are needed and a plan to tax carbon emissions is intended to draw Democratic support as well as provide some of the funding. About $200 billion in taxpayer money and $800 billion from private investors is being discussed at the National Economic Council. This report says Cohn suffered from dyslexia in childhood, graduated from American University, and joined Goldman Sachs in an unconventional way. He shares a passion for deal making with president Trump, yet at the same time values the views of experts he has brought to formulate concrete plans for the way ahead. About 25 experts with extensive experience in government helped put together new tax changes, infrastructure plans, and international trade deal plans. His predecessor at the NEC, Gene Sperling, gives him credit for quietly pulling together the experts and doing the planning that the Trump administration now depends on. ...

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Maureen Dowd's conversation with Donald Trump in Jan 2016 just after the seventh Republican presidential debate in which Trump opted out. She describes him as a person who can be sensitive himself, and yet not be sensitive to what he says about others and how that is seen by the public, especially for his comments on women. He feels that Fox News is pushing him around, not that he made comments about Megyn Kelly such as "bimbo," and "lightweight." Couldn't Trump just withdraw these words, asks Maureen. Trump says he doesn't have to make up because he is enormously successful. Yet when Maureen tells him about Newt Gingrich's statement to Fox News that Trump was acting with petulance in his response to what Gingrich saw as a poorly worded newsrelease from Fox News, and that it would "shrink" Trump, Donald sounds like he feels offended.

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This report by Timiraos in WSJ describes the tussle between supply siders led by Mike Pence and David Malpass with the zero sum advisors who advised Trump on trade during the campaign. The zero sum advisors are focussed only on how to turn trade to improve the U.S. position and cut trade deficits. The supply siders are trying to show that trade can benefit the U.S. only that it needs to be adjusted so that it works better for the U.S.

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Friedrich Drumpf left Germany at the age of 16, coming to the U.S. in 1885. He came back to Germany to find a wife after running restaurants in California during the time of the Gold Rush. When he tried to return to hsi home town because of his wife was homesick he was expelled a s a draft dodger for missing military service. Kallstadt is a wine producing region. Drumpf was tenacious and keen on getting ahead, a trait that marked his son Fred Trump who built state financed housing in the FDR period in New York, and his on Donald Trump who went into luxury housing. Biographer Gwenda Blair says all members of the family were good at finding loopholes, saving money, and shared the family culture of knowing who the audience is that they are targeting. This is why says Bair that Trump is at ease in being a onetime Democrat, now Republican, sometime liberal and sometimes conservative, and can appeal to people in different ways that would be impossible for most politicians, even people on opposite sides for different reasons. Gwenda Blair is author of two books on the Trump family. "Trumps- Three Generations That Built an Empire," and "Donald Trump: Master Apprentice."     ...

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U.S. president elect Trump meets with the heads of tech businesses on Dec. 14, 2016. CEO's of Amazon, Facebook, Google, and Microsoft were present. Trump was exuberant about the advantages secured by U.S. tech companies in global business, saying- "there's nobody like you in the world. Anything that the government can do to help this go along, we're going to be there for you." The discussions covered need for more vocational education, advantages and disadvantages of trade with China, and immigration. Quarterly meetings of this type are now planned with a smaller group organized by Jared Kushner to cover immigration and education.  Jeff Bezos of Amazon described the meeting as "very productive." Bezos says he told the group that the best way was to use innovation to create jobs outside of tech in agriculture, infrastructure, manufacturing elsewhere, to create large number of jobs. Ginni Rometty, CEO of IBM, and other executives are part of the Strategic and Policy Forum set up to provide business input to the president. ...

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The Trump Accounts for children born 2025-2028 and the Dell $6.5 billion expansion to include earlier born children may be one of the single biggest actions to rebuild the bank accounts of the next generation. It looks at the shrivelled bank accounts of today's older generation with lack of enough savings for a medical crisis and says it has got to be different from now on. The median bank account of Americans over 65 and over is $13400 which means there is little for medical health emergencies and little for needs of older Americans. Median means half have less and half have more than $13400. This is astounding for the wealthiest nation at a time when the total wealth is the highest ever in history. This report by WSJ unfortunately does not mention this at all and dwells on how this is an opportunity for banks and investment companies to get in the door to get your business. DJT as US president with a mandate from lower income Americans has designed this so that it shows the value of careful investments of small seed money. With $1000 to begin with from the government, added amounts from parents and grandparents and invested in a mutual fund that tracks the S&P 500 it will grow with the economy for 18 years, doubling two to three times on the way. It would provide funds for education increasing enrollment in higher education, increase financial literacy by showing how money grows in broad S&P 500 type index funds such as Vanguard type funds. Much of the shriveling of bank accounts for the shocking figure of $13400 median for American 65+ year olds is a result of job losses, high health care costs, wage decline  with factories outshored, hits from 2009 financial crisis caused by bank irresponsible behaviour, drug epidemics and fentanyl allowed to pour into the country, covid pandemic and stock bubbles, decline in higher education enrollment, other. The US president DJT is seeing his mandate as one that reverses these adverse situations one by one to take America back to post war prosperity and rising incomes, rising bank acocunt savings and rising hopes and aspirations for the next generation. ...

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Strident tone of Treasury Secretary Scott Bessent defending tariffs, the economy, and affordability. Bessent defends the DJT administration's tariffs plan, its effort to bring back jobs, its policies on gas prices that have cut inflation, and the president's Big Bold Beautiful Bill with it's provisions for Businesses to expand investment in the economy using a rapid depreciation provision. He has called the critics as having "Trump Derangement Syndrome." Part of this is based on his economic experience and understanding of how tariffs can be used to level the playing field where the EU, Japan, China, Mexico and other countries have taken advantage of trade policy for their own gains to the detriment of the US and communities in the Nation that lose jobs and factories. One of the assets to the current administration of DJT is Bessent's grasp of financial markets, his extensive experience in the field as a business person. He was able to convince the president to withdraw tariffs or mitigate tariffs to adjust for the effects on financial markets in the US and worldwide.  ...

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At 79 years, Wilbur Ross will be one of the oldest people serving in any administration, as he serves as Commerce Secretary in the Trump administration. Wilbur Ross is best known for the turnaround efforts in the steel industry. In 2002 he acquired LTV Corp, a third largest steel producer in the U.S. facing tough times and legacy costs, for $125 million in cash and $200 million in environmental liabilities. In 2005 he sold his International Steel Group to Arcelor Mittal for $4.5 billion, and is still an independent director on the Arcelor board. Ross's earlier experience was as a bankruptcy specialist at Rothschild Inc. in the 1970's working on restructurings at Texaco, TWA and Continental Airlines. Analyst Charles Bradford is cited in this report by WSJ's John Miller, who competed with Ross in restructuring proposals for failing assets, and describes Ross as working harder and being tougher to make the deals. Some of these restructurings involved cutting pensions and large layoffs. The entire U.S. steel industry faced problems from foreign competition and legacy costs at the time. This included representing bondholders for Taj Mahal Casino in Atlantic City. At the time Ross told creditors considering seizing the asset for a possible missed payment that it would be better to keep Trump in charge for Trump properties as they would be worth more with Trump inside. This led to Ross later providing critical backing for the Trump campaign and raising money from the business community. Mitt Romney had similiar work at Bain Capital in turnaround of failing companies, later turning to politics as Governor of Massachusetts, and 2012 Republican nominee for president. Both Romney and Ross have come under criticism for their role in cost cuts at companies involving layoffs and cutting worker benefits. ...

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In the New York Times Interview January 2026 the US president says about international law- it all depends on what you mean by international law. Presumably saying that if it is ok under international law to send drugs in to the US that kill hundreds of thousands of young people a year as is happening with gangs in Mexico and Venezuela, Colombia, and this is not a problem under international law for a decade now, then there is something wrong. The local population in these countries also suffers from such gangs and crime and this destroys the rule of law in these countries. Not much appears in the BBC, The Guardian, the Times of London, and the NYT, raising this issue in the name of international law and the rule of law. This leaves the president of the US to take actions based on his own sense of what is morally right in the case of Venezuela. On Greenland DJT has this to say. There is a long term lease of bases in Greenland but ownership is critical for it's defense and for protecting the eastern seaboard of the US. This is nothing new as Secretary of State Seward sought to get Greenland along with the Alaska Purchase in 1867. US made offers in the 1900's. And in 1946 Democrat Harry Truman offered $100 million in gold for Greenland. Today as in 1946 in the words of the US Commanders in chief "it is completely useless for Denmark." Denmark is a colonial power from Europe and has done little to develop Greenland. Less than 60,000 people live in the harsh climate of Greenland and mostly Inuits tribes. The US can better develop Greenland and invest in it. “Ownership is very important,” Trump said, adding: “Because that’s what I feel is psychologically needed for success. I think that ownership gives you a thing that you can’t do with, you’re talking about a lease or a treaty. Ownership gives you things and elements that you can’t get from just signing a document.” On China and Taiwan DJT says- “This was a real threat … You didn’t have people pouring into China. You didn’t have drugs pouring into China. You didn’t have all of the bad things that we’ve had. You didn’t have the jails of Taiwan opened up and the people pouring into China,”  DJT also said that no criminals were “pouring into Russia”. ...

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In the first week of the his administration DJT plans to end birthright citizenship by executive order. He will work with Democrats to protect Dreamers who he says are middle aged people by now and do not even speak the language of their country, as children brought to the US by their parents. He will pardon Jan. 6 defendents in the attack on the Capitol on the first day.

DJT says he will not act to replace the head of the US Federal Reserve Bank, though he plans to replace FBI Director Wray, who he says "invaded my home." 

DJT says-

“I’m really looking to make our country successful. I’m not looking to go back into the past. I’m looking to make our country successful. Retribution will be through success.”

 

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Department of Education invites controversy because of diversity programs and "transgender" as culture ignoring health risks. Established by president Jimmy Carter in 1979. Education in the US is run at the state level by each American state administration compared to UK where it is done at the national government level. It has one of the smallest budgets of any agency at 4%, Transportation is 1.7%, Agriculture 3.0%. Most of its work is overseeing $120 billion of federal grants and programs for public education through high school. It supports districts with low income students with $18 billion aid. Head Start program supporting 883,000 low income pre school children in 2022 gets federal aid from Department of Health and Human Services. National School Lunch Act of 1946 by Harry Truman is not affected as it is run by states,  federal aid comes from Department of Agriculture to 20+ million children. Republicans oppose spending about $1 billion to support Diversity program DEI initiatives and support for "cirtical race theory." There is opposition to "transgender." Britain's NHS had a commission look into transgender and says it poses health risks to children and young people. It also adds to anxiety of parents. Republicans are 53 -47 in majority in Senate- to scrap the agency Republicans need 60 votes in the Senate. The likely option is that they will pass a bill putting many of the functions in other agencies reducing its impact- between HHS, Treasury and Interior agencies. ...

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Neil Irwin of NYT provides some counter intuitive ideas on U.S. Fed interest rate policy. He says it can't be take as a given that the Fed will raise rates in 2017-2018. This depends on how much punch there is in the Trump economic policies for stimulus, and for infrastructure spending, tax cuts. He cites Senate Majority Leader McConnell who said he would like to keep "tax reform revenue neutral." Getting large spending and pushing up the deficit is likely to run up against Republicans in Congress who have for 8 years opposed large spending increases and large deficits. Trump has given few details about his stimulus or infrastructure spending plans. He says the scale of the spending might not match the talk. Irwin cites JP Morgan Chase economists who have kept their forecasts for GDP growth just under 2% for 2017 and 2018. And he points out that even Trump appointees at the Fed might act independently. The Fed might look at being cautious considering that increased trade tensions with China, and the unpredictability of a Trump administration could hurt growth. Irwin does not mention the uncertainty in other areas such as policy towards Russia on which the Republican party and Congress have very different views than Trump, tensions over Taiwan, that can also affect growth. ...

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This response by experts on transatlantic relations rejects the other view expressed in Zeit Online that the U.S. under Trump remains estranged from Germany and the EU. These experts from the American Institute for German Contemporary Studies, American German Council, and Centers at John Hopkins and Georgetown for German Studies, reject the view that the Trump administration and Germany are that far apart on many issues as it appears from media coverage.  Foremost it points out that civil society relations are sound and growing. About 50 million Americans trace their descent to Germany, including president Trump, much larger to over half the U.S. population considering European descent. Much larger is the sense of a culturally shared future with the European Union, with the nations of Europe including Germany, France, Italy, Spain, the nations of Eastern Europe, and Britain. The civil society relationships run deep in a way that is hardly affected by the Trump administration. Within the Trump administration the policies to Europe these experts remind the reader, are determined by the "adults" in the administration, who are senior members of the administration. This is a crucial point as Trump administration policy is not determined by the president's liking for tweets as much as by senior cabinet members Tillerson at the State Department, Gen. Mattis at Defense, Kelly at the White House, and senior members of Congress including Senators Corker and other senior committee members. This is why Republican Senator Kay Hutchinson was chosen as Ambassador to NATO. It should be noted in this context of German-EU relations in president Trump's first year that there was a period of German disillusionment with president Obama, exacerbated by the NSA spying on German chancellor Merkel and on the EU delegation to the UN, with president Obama's failure to offer any apology. Relations recovered from that low point. No one suggested that there be a German led decoupling of the EU with America at that low point, or at another low point in German-U.S. relations with the setup of American Pershing II nuclear missiles on German soil under the Reagan administration when there were large scale protests.  The American view that the U.S. should not have to shoulder major responsibilities for defense and foreign relations by itself is not new say these experts, and goes back to earlier administrations before Trump.  The experts argue for an active role by Germany with its partners in Europe for defense and foreign relations, which should not be seen as a result of U.S. pressure, only responding to the situation as it has evolved upto this time. Views on immigration are also changing with effort by the EU and Germany, France, to reduce immigration from the source countries in Africa, and the changing perceptions about uncontrolled immigration in Germany and France, say the authors. A coordinated policy towards Russia  is seen as not having changed. And much as a reset in relations was advocated by Obama in the first year of his first term, the current policy of the Trump administration to work with Russia to lower tensions can be seen in the same way say these experts, and not as a fundamental shift in American policy. The deep relationship of Germany and the EU with China is another positive aspect that will also help the U.S. in framing its own policies towards China. The German-American relationship, and the European Union relationship with the U.S.  is seen as basic to the values and interests of the U.S. and Europe. This relationship is too deep and supported by civil society and Congress, the Republican Party, and the Democratic Party, by large trade relationships, to be affected by temporary differences under any one administration. Even these differences are part of a larger debate that is part of dialogue on issues in a democratic society, sometimes raucous and loud, and could be welcomed and carefully channelled in constructive ways.     ...

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Finley describes the alienated white working class voters, at a Trump rally in Orlando, Florida, at the University of Central Florida CFE Arena, March 8, 2016. It includes a laidoff Disney employee who says she was told to train foreign workers on H1-B visas who would take her job, a money manager who bellieves it is time to be tough on immigrants, including ban on Muslims entering the country. She describes them as agitated and angry at what they see as the decline into mediocrity of the country.

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During 2022 the San Francisco Federal Reserve Bank issued 6 warning citations to Silicon Valley Bank, saying that its bank practices did not allow for enough cash in the event of crisis. By July 2022 in a full supervisory review it was rated deficient for governance and controls. At a meeting with senior leaders of the bank the possible exposure to interest rate losses related to Fed increasing rates was also discussed says this report in NYT. The Fed regulators stated that the bank was using wrong models showing that SVB bank would do better as interest rates increased. Questions are being asked about why things that were in plain sight were overlooked by the regulators- 97% of deposits were uninsured by the federal government. In the event of a crisis depositors might try to get their deposits out causing a run on the bank which is what actually happened with $42 billion attempted withdrawals in one day. Michael Barr is the vice chair for Fed supervision. A investigation report is expected by May 1. March 29 the House Financial Services Committee will hold ahearing in Congress. Peter Conti-Brown, an expert on financial regulation at the University of Pennsylvania calls it failure of banking supervision, and says it will become clear from the investigation whether the supervisors failed in their work. One of the problems is that the CEO of SVB bank, Gregory Becker, was on the Board of the San Francisco Fed. NYT says the optics of this is bad. Bernie Sanders, Senator from Vermont, calls it absurd that he was appointed to the Fed board of the institution that was regulating SVB bank. Another problem is that Randall Quarles, vice chair of Fed supervision 2017-2021 carried out a 2018 regulatory roll back law of president Trump in an expansive way says NYT. This law exempted banks with less than $250 billion in assets from strict banking supervision that larger banks were expected to go through. Fed chairman Powell is criticized for not  flagging these steps as potentially dangerous for the banking system in the way this was done by vice chair Lael Brainard. Brainard is now head of Biden's National Economic Council. She never favored the Trump law and had grasped early the risks of such deregulation. Sanders will bring a new law to prevent bank CEO's from sitting on Fed boards, and Senator Elizabeth Warren has called for an independent review that does not include Powell.     ...

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How seriously are the Border Crossing encounters with migrants being taken by the Biden administration compared to the Trump administration, or earlier administrations Republican and Democrats. Pew Research Center provides these 7 charts and other data. In 2021 border crossing encounters with migrants were shown as 1.6 million. Of this 27% were repeat crossings a number much lower in previous years. It had fallen to just 400,000 in 2020 as the policy of expulsion put in place by the Trump administration was continued by the Biden administration. In 2019 the border crossing encounters with migrants after three years of the Border Wall construction under president Trump were 851,000. The Biden adminstration in 2021 had 52% expulsions compared to Trump administration 66% in April 2020 after invoking public health Title 42 which Biden continued. About 33% said the Trump administration was doing a good or somewhat good job in 2019 compared to 29% for Biden in 2021. But a much lower percentage of Republicans were saying Trump was doing a bad job than the 56% of Democrats saying that for Biden today. The previous surge in 2021 was mainly from Guatemala and Central America. The current surge is from about 400,000 migrants from Venezuela where expulsion does not work as well because the US has cut off relations with the government of Mr. Maduro in Venezuela, There are 7.1 million refugees from that country in Latin America. The Trump administration would have faced similar problems with the Venezuelan surge that the Biden administration is facing. The largest jump in 2021 is in Yuma Arizona 12 fold, two fold in Tucson and San Diego, three fold in El Paso, the Del Rio and Rio Grande up 5 times.    ...

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US-China relations shift from adversarial to peaceful cooperation after the Busan meeting in South Korea in October 2025 between Chinese leaders Xi and Wang Yi. This is how the Ministry of Foreign Affairs of PRC presented the meeting- a turning point in relations. In April 2026, 6 months later it appears that this is certainly the case as shown in the WSJ Analysis in the adjoining article. Both leaders have decided that they will avoid any actions that disrupt peaceful cooperation and maintain friendly relations in anticipation of the May 14-15 visit to Beijing of DJT which will be followed by a trip by Xi and Wang Yi, He Lifeng to the US. The spirit of cooperation is reflected in this statement- "China will host APEC 2026, and the U.S. the G20 summit next year. The two sides can support each other in making both summits productive to promote world economic growth and improve global economic governance. President Trump said that it is a great honor to meet President Xi. China is a great country. President Xi is a well respected great leader, and has been my good friend for many years. We have always got along well. The United States and China have always had a fantastic relationship, and it will be even better. We will make both China and the U.S. even better. China is the biggest partner of the U.S. Together, our two countries can get many great things done for the world and have many years of success. China will host APEC 2026, and the U.S. will host the G20 summit next year. We expect both to be successful." ...

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President Trump pushes forward with a deal with Mexico so that it can be signed before the new Mexican administration of Lopez Obrador takes over. This means leaving Canada out and having a separate deal with Canada later on. Mr. Trump sees negative connotations in the term NAFTA and would like to call it the "United States - Mexico Trade Agreement." Terms for Canada to join the agreement would be tougher and the pressure on Canada to strike a separate deal was increased with Mr. Trump saying there could be tariffs on imported Canadian made cars. Mexico has accepted revisions to NAFTA that make it harder for Mexico to challenge U.S. trade penalties. Mr. Trump's negotiating position is based on his conviction that the eagerness of other nations to sell in the U.S. market gives the U.S. a lot of clout. Mr. Trump also faces pressure from within the Republican Party to show results not just by imposing tariffs and playing hardball on trade but to come up with new trade deals. Steps taken by Mr. Trump were to impose tariffs of 25% on imports of aluminium and steel, and 25% tariffs on a list of imports from China including solar panels. President Trump hopes to get support from Democrats by including provisions that support trade unions in Mexico and higher wages in Mexico. The provisions also require higher wage labor in the U.S. to build the required U.S. content and are designed to support American jobs and wages in the auto industry.   ...

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William Galston in the WSJ says outright for the first time in the WSJ that the years from the last term of Clinton, through the Bush, and Obama administrations were an outright failure for the American people. He documents the losses- 5.7 million job losses in 2000-2010 as Clinton opened China's entry into the World Trade Organization without any precautions taken to prevent abuse of world trading rules after the experience with Japan. Worse no help to the displaced workers which fed into the resentment of workers. Sex scandals weakened the presidency and acted as the major distraction during the last years of Bill Clinton. Over the administrations of Bush and Obama almost the entire US manufacturing base was dismantled and shipped to China. Pharmaceutical companies were allowed to charge recklessly when Bush disallowed Medicare to negotiate prices for pharmacueticals placing additional burdens on the American people. Bush started long wars in Afghanistan and Iraq that cost the US dearly in lives and resources wasted with no vital US interests at stake as in Europe. This distracted attention from problems simmering at home. Obama continued these wars preferring to focus on reelection. The migration crisis, the neglect of infrastructure worsened during this period. The Bush deregulation of banks led to the 2009 world banking crisis that led to large layoffs worsening a bad situation from outshoring and creating a class of unemployed, and shrinking household wealth and savings. The Biden administration, the first Trump administration and now the second have started the process of revival of the US. And yet Biden, DJT are relative outsiders who came to the presidency and were not favored in the established order of the 1990-2016 period. One can say about Blair, Cameron, Boris Johnson in Britain, about Clinton, Bush, Obama in the US, and Schroeder, Merkel in Germany that the leadership was mediocre and failed the people of Europe and the people of America.     ...

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Donald Trump's economic advisory team includes in addition to Harold Hamm, shale energy billionaire, Steven Mnuchin, CEO of hedge fund Dune Capital Management, hedge fund billionaire John Paulson, Dan DiMicco, CEO of steelmaker Nucor, bankers Stephen Calk, and Andy Beal, tax expert Stephen Moore, and David Malpass, a columnist for the WSJ. The team is headed by Stephen Miller, an aide to Senator Jeff Sessions of Alabama. The Washington Post points out that the selection of the team with many hedge fund businessmen including John Paulson, who bet against faulty mortgages before the 2008 financial crisis, is at odds with his criticism of Hillary Clinton for her contacts with Wall Street and his message of not having any connections with Wall Street so that he could better represent the interests of ordinary Americans- people hurt by the 2008 financial crisis with the high jobless rate for older white men. In the 2008 election both candidates John McCain and Barrack Obama were shown in media articles to have connections to lobbyists for Fannie Mae and Freddie Mac. In the 2012 election Mitt Romney as a private equity executive at Bain, was a part of the financial industry. This time in 2016- after all the noise and tumult about who represents Main Street- is no different for Trump and Clinton's connections to the financial industry. Only Clinton has to respond to the movement within her party from Bernie Sanders for providing a genuine example, and breaking with the past. The team of economic advisors put together by Jeb Bush led by Glenn Hubbard may be little different in substance than the one put together by Trump in its connections to the financial and real estate industry. The only person who took on the financial industry to fight for homeowners interests shown in Lyrarc since 2008 is Sheila Bair of the FDIC, a Kansas Republican. She could truly represent the interests of working class and ordinary Americans simply from a notion of fairness that  is so much a part of the American experience. Yet she has said running for office and fund raising in the way it is practiced today makes the thought too difficult to accept. Recent developments do not offer encouragement. Yet ordinary Americans ought not to forget, and ought not to let anger affect a discerning view of things. ...