Trump's Parlous Gambit (To Save America From Economic Insanity)

Posted by freedomforall 2 weeks ago to Economics
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Excerpt:
"The news media (including Jake) lied to the nation, consistently, flagrantly, mendaciously, for years, and most of all they lied about the gigantic racketeering operation that government had become in the age of Anything Goes and Nothing Matters.

Cases-in-point, as reported by Alex Krainer, the $93-billion barfed out of the Department of Energy between the November election and January 20 to scores of hastily-formed NGO gangs with no business model or record of competency. . . and the staggering $375 billion spread around similarly out of the EPA from a slush fund run by John Podesta (as Senior Adviser to the President for International Climate Policy and Clean Energy Innovation).

That was pure grift, you understand, and it was how the Democratic Party kept its activist troops of the so-called “marginalized” paid and happy. As it happened, the “marginalized” who dwell on the edge of society — and also just beyond the set of agreements that define reality — are out-numbered by the rest of us, who voted against the tyranny of the margin and their hallucinations. And so now, the country goes through a convulsion attempting to readjust to reality — for instance, the unhappy fact that all that money was unreal, mere bookkeeping entries by dishonest accountants.
...
The exception is Mr. Trump, a businessman-outsider to government trying to pull off an escape from the deadly debt quandary. It’s probably impossible, but he is trying nonetheless. It has three main features: 1) to readjust trade relations that, in theory, would restore industrial production across the land — a bootstrapping operation to kick off “growth.” 2) to engineer a severe re-set of the money system that would effectively amount to defaulting on debt but somehow without the feature of disappearing money. At best, this would induce some kind of fall in living standards, but mostly among the small sector of financial buccaneers who thrive on swindles and the Boomers living on investment accounts (figment wealth), who are now dying off anyway — which is to say, Great Depression Lite. And 3) the least understood feature of Trumpism: to decouple the USA from the resource scarcity in the rest of the world, and the consequent strife it’s inducing, and withdraw into a sort of Fortress North America that can somehow carry-on self-sufficiently while everybody else collapses.

As big pictures go, this is a pretty wild one, stupendously ambitious, risky, and perhaps improbable. But what do Mr. Trump’s domestic opponents have to offer?"
SOURCE URL: https://www.kunstler.com/p/trumps-parlous-gambit


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