Peter Navarro Showed Up On CNBC Monday And It Was A Disaster

Peter Navarro Showed Up On CNBC Monday And It Was A Disaster

On Monday morning, White House adviser (and stark raving lunatic) Peter Navarro showed up on CNBC.

One thing to note right off the bat is that CNBC should probably think twice before giving air time to people whose faces are enough to spook markets. Peter Navarro is one of those people.

Peter has failed at everything he’s ever tried to do and being an economist is certainly no exception. Nobody takes Peter seriously except for – drum roll – the President of the United States.

Unfortunately for Trump, Navarro’s penchant for saying things that are insane undermines market sentiment precisely because market participants know just how crazy Peter is.

None of the above is disputable. Navarro is a joke. Plain and simple. Soz.

Given that, the relative wisdom of putting him on television amid deteriorating market sentiment is questionable at best, but CNBC did it anyway and here’s what happened:

Got that, folks? “Donald Trump’s instincts are always right.”

That’s what counts as an “adviser” in this administration – an unapologetic, groveling sycophant.

And then to add insult to injury, Navarro actually attempts to spin Trump’s fiscal policies as “deflationary”, a patently absurd contention that is so mind-bogglingly out of touch with economic reality that you would naturally question the sanity of anyone who says it until you realize that it was Peter Navarro who said it. Then, it all makes sense.

For the thousandth time: Donald Trump’s policies are forcing the Fed to lean more hawkish than they otherwise might. He is engaged in an insanely anomalous foray into late-cycle, debt-funded stimulus that has virtually no historical precedent. That is inflationary – period.

On top of that, Navarro’s trade policies are inflationary as they raise the specter of rising input costs for corporate management teams which will in turn be forced to either take a hit on the bottom line (much to the chagrin of investors) or else pass along those costs to U.S. consumers in the form of higher prices. If you were corporate management, what would you do? Exactly.

That’s why the Fed feels the need to continue to hike rates. The Fed is trying to protect you from this insanity and they wouldn’t have to be as overzealous about it if it weren’t for Trump and Navarro.

That is the reality of this situation. What you’re hearing from the administration is lies. It’s propaganda. And anyone who gives them a forum to perpetuate it is complicit.

Read more

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3 thoughts on “Peter Navarro Showed Up On CNBC Monday And It Was A Disaster

  1. Funny adjectives for Peter. Calling you out on the rest. Deregulation, low oil, NOT inflationary.
    The fed jumped the gun, but even that is NOT inflationary. Seems like an agenda here, so long.

    1. “Seems like an agenda here.” Yes, the “agenda” is to call out stupidity. And “low oil” is a recent manifestation of i) Trump’s successful efforts to undercut the outlook for global demand with the trade war, ii) a scheme to game OPEC and iii) an incestuous relationship with Prince Mohammed which got even more incestuous with the Khashoggi coverup which is why the Saudis are being so damn cooperative. As for the rest of this comment, it doesn’t make any sense. So long.

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