The White House is controlled — barely — neither by party, nor by ideology…nor even by a coherent biped. It is home to a brand, made flesh in Donald Trump.
People grumble. But few understand what is going on. Instead, they are easily distracted by debates over monuments…kneeling athletes…red versus blue…celebrity newscasters…and so on. And that’s why Mr Donald J Trump is the president. For this system to continue, someone needs to divert the masses with petty squabbles…while the insiders pick their pockets.
Team Trump came forward this week and laid what it claimed was the ‘biggest tax cut in history’ on the table.
Trump has the opportunity to fill more seats on the Fed’s board of Governors than any president since then. His influence goes further than that, however.
As we have seen, regulation, legislation…crony deals and zombie payoffs financed with fraudulent money…have hit the heartland hard. ‘Flyover’ America loses; the winners are in the coastal swamps.
So far, all Trump's words are about reinforcing the views of his base. That is, the American heartland that won him the presidency.
Will Donald Trump perform his first miracle, multiplying the loaves and fishes? Or is that ‘bond rout’ telling us something important? That the creditors won’t sit still for it?
Ultimately, the question is not whether there will be a disaster during Mr Trump’s time in the White House. It’s what kind of a disaster it will be.
By our estimate, we have about $35 trillion in excess debt. It’s a ‘debt bomb’ that will probably blow up in Mr Trump’s face.
Here at the Diary, we always take the side of the underdog, the diehard, and the lost cause. It’s beginning to look like Donald Trump may be all three.
Markets see Trump as an enemy of Mexico. But as it turns out in terms of Mexico’s exports, Mr Trump may turn out to be the best friend Mexico has right now.
During the recent debate, Trump said that the US economy was a ‘big, fat, ugly bubble’, and blamed it on Yellen, the Fed and their easy money policies.
Whatever you think of Donald Trump, his candidacy is one big middle finger to the Establishment. It’s part of the worldwide rise of ‘People Power’.
The French press treats Trump like a clown or a con artist. Until last night, we had not encountered a single Frenchman with a favourable view of the Republican candidate
‘When they call, I give. And you know what? When I need something from them two years later, three years later, I call them, they are there for me." -Trump