Sunday, April 30, 2017
Greed is trump's End Game
What is trump's end game?? Is there a set of objectives for which he is striving or which may occur even if he does not have an overarching plan??
Based on very few consistent themes in his actions, there does appear to be such a set of objectives.
His overriding objective seems to be personal financial gain, or greed, at the expense of everything else. He seems willing to sacrifice the country, his reputation and anything or anyone else who gets in his way in a pursuit of more money.
In that pursuit he has, among other things, violated the Constitution repeatedly in service of his greed.
But, an additional trump tactic is perhaps even more disturbing.
That is this: he strives to create chaos by destroying the fabric which holds the country together. This tactic serves his overarching greed. If he is successful, then he may be able to profit enormously by buying distressed assets on the cheap in any forthcoming recession.
Ancillary to this goal is his aim to destroy programs which direct financial gain toward middle class Americans. This includes public education, social security, environmental protection, financial stability, etc., etc.
Some of the programs which have helped middle class Americans by increasing their incomes were based on Presidential directives from the Obama administration. trump has overturned many of those programs, noticeably including the revision of overtime rules which gave more working people access to overtime pay.
These trump actions will have the effect of reducing the purchasing power of middle class Americans; this weakening will, in turn, lead to a recession as companies find that there are fewer consumers able to afford their products.
trump's disdain for science and evidence based facts can have severe repercussions for the United States. Our long term economic growth has been fueled by a continuing stream of new technology. Most of the new ideas and products we see have their antecedents in scientific research and higher education. Yet, trump strives to reduce Federal funding for science, research and public education. If successful, the American Economic Miracle may be finished.
Another concern is his wanton disregard of the United States Federal budget and debt. His programs will add substantially to the national debt by reducing taxes and expanding spending. In order to finance this deficit, he will have to authorize selling trillions more T-bills.
This can lead to the very real danger of destroying the financial safe harbor which Treasury notes offer investors. If this were to occur, then the interest costs to the United States might rise significantly.
In that event, the Treasury would be forced to rely on large international lenders like the International Monetary Fund. That institution has a track record of forcing severe budget and pension cuts and painful tax increases on countries which seek its financial aid. One has only to look at Greece to see our possible future.