Donald Trump – Modern Day Walpole?
Posted by freedomforall 6 years, 3 months ago to Government
"can The Donald make good on his promises to the outraged voters who voted him into office this past Election Day? Can he restore economic growth, political legitimacy, tax justice, immigration sanity, and American greatness? He has taken a promising step with his new tax plan, say many conservatives. But in this writer’s view it is miniscule reform in light of what is really needed.
It is highly doubtful whether the GOP has fashioned something robust enough to genuinely restore economic growth. Our economy is suffering from monumental ideological fallacies plaguing us that stem from Keynesianism in the colleges, the Congress, the Federal Reserve, the Wall Street banks, and the media."
"Tax cuts necessitate spending cuts. Without them deficits will explode as sure as mushroom clouds will shoot skyward from nuclear blasts. Reagan’s brilliant Director of the Office of Management and Budget, David Stockman, has attested to this truth over the past several decades with searing logic in The Triumph of Politics: Why the Reagan Revolution Failed (1986) and The Great Deformation: The Corruption of Capitalism in America (2013). Unfortunately his message is ignored by an obtusely corrupt Congress. Thus the National Debt for our country will continue to grow unless our politicians bring their spending incontinence under control when seeking to reduce oppressive taxes from the federal government."
"Our conclusion is that economic growth via supply-side economics is not “healthy growth” if deficits and the total debt of the country explode in the bargain. Laffer’s supply-side economics is not the answer to Keynes’ demand-side economics. Both lead to massive deficits. The answer is to restore a free market, and the economy will produce constant and substantive growth without the need to stimulate the demand side or the supply side."
It is highly doubtful whether the GOP has fashioned something robust enough to genuinely restore economic growth. Our economy is suffering from monumental ideological fallacies plaguing us that stem from Keynesianism in the colleges, the Congress, the Federal Reserve, the Wall Street banks, and the media."
"Tax cuts necessitate spending cuts. Without them deficits will explode as sure as mushroom clouds will shoot skyward from nuclear blasts. Reagan’s brilliant Director of the Office of Management and Budget, David Stockman, has attested to this truth over the past several decades with searing logic in The Triumph of Politics: Why the Reagan Revolution Failed (1986) and The Great Deformation: The Corruption of Capitalism in America (2013). Unfortunately his message is ignored by an obtusely corrupt Congress. Thus the National Debt for our country will continue to grow unless our politicians bring their spending incontinence under control when seeking to reduce oppressive taxes from the federal government."
"Our conclusion is that economic growth via supply-side economics is not “healthy growth” if deficits and the total debt of the country explode in the bargain. Laffer’s supply-side economics is not the answer to Keynes’ demand-side economics. Both lead to massive deficits. The answer is to restore a free market, and the economy will produce constant and substantive growth without the need to stimulate the demand side or the supply side."
SOURCE URL: https://afr.org/donald-trump-modern-day-walpole/
Making America great again .
I believe Trump believes our corporate tax rate was uncompetitive
and wanted the repatriation of US Corps money overseas that hurt US economically. Since he needed votes, the pond scum wanted stagnation as always to stall improvement.
Next on the agenda will be entitlements. Lots of sparks will fly.
He told the UN to stick it where the sun don't shine.
Trump has canceled 25 regulatiions for every new regulation.
Trade deals have put American jobs and industry at a disadvantage for decades . Trump plans to even the playing field. Those deals Typically were rewarded with ridiculous multi-million dollar speaking payments.
Immigration and the illegal alien problem is certainly better.
He got us out of the Paris Accord Ripoff.
With 20+ Trillion in debt Trump inherited a bubble that threatens to pop at any time.
Let's hope the economy can thrive with some of these changes.
Still lots of problems but the tide is turning.
Fine...if they wish to be productive Americans, make them work for it.
I say, put the Dreamers to work, on the wall. When that's done, put them to work on infrastructure repair, just like the Civilian Conservation Corps did, during the Depression.
Pay them a "true" minimum wage, give them basic necessities, like temporary housing and food, and let's see just how seriously they want to remain in this country.
Any that refuse to sign up, get the boot.
You want to those that broke our laws to come here and those same people that say F*ck America, beat up American's rape and rob American's... you trust them to build the Wall without making weak points or ways to circumvent the Border Wall?
Seriously?
Is this Peter Pan...
Folks in the CCC worked their butts off, lived in minimal quarters and made barely enough money to survive on. These would have been the very kind of immigrants our country would have welcomed, back then.
As for leaving weak spots in the wall...I think this is a non-issue, unless you believe the workers would be allowed to construct it, unsupervised.
Just to try and enlighten those that read this, I can see you don't care, ILLEGAL is a type of CRIMINAL... no one should be awarded for breaking laws.
I will wait, with amusement, your response Peter... tell Tinker Bell I say Hi!
If President Trump comes up with a catchier name...I'll start using that one.
There is a limit to the growth of the economy when the workforce stalls due to extremely low unemployment. If we hit that stall, expect to see a push to increase immigration to grow the workforce. That in itself will increase the strain on entitlements as the population increases rapidly.
Until we recognize that there's no free lunch, and insist that less government improves market forces and individual creativity, the economic boat will continue to leak.
The education system (government school), is so poor that the masses are not educated enough to work in the modern businesses, and labor jobs are going to keep decreasing. What will happen will be the restructuring of way the Federal Government calculates the "Unemployment Rate", they changed this the first time in the 1970's, then in the 1980's again and again around 2011. So yes 'jsw225' is correct the unemployment rate is higher then what is said, but sadly it is actually higher then 20%. Think about these stats; over 35% of the people in the United States in 2012 were on some type of 'welfare', in 2014 over 15% [roughly 46.5 million] of the republic were on 'food stamps'... in the "what we actually know" category; over 8 million ILLEGAL immigrants are on welfare' 12 million are getting at least food stamps and those are the illegals we know of. Now in 2016 the government calculated that 67,891,000 [that almost 68 million people] were FULLY ON WELFARE or 21.2% of the total population and they DO NOT GET COUNTED IN UNEMPLOYMENT NUMBERS [because they are not collecting unemployment], only those collecting unemployment are counted as unemployed.
To point out the dirty little secret using the Government Accounting Office's own numbers: Total Population: 323.1 million people Total on Welfare [government assistance]: 109,631,000, total in the Work Force: 105,862,000 [which includes 16,685,000 FULL-TIME GOVERNMENT EMPLOYEES], now let's use simple math; 323,100,000 - 109,631,000 - 105,862,000 leaves 107,607,000 people not doing either.
Now think about this 107,607,000 are not working or on Welfare, 67,891,000 are fully on welfare [meaning they aren't leaving it without force]; so in the republic we have 175,498,000 people that are not in the work force and have no desire to be in the work force or are unequipped to be in the workforce... Do I have to tell you that this number equates to roughly 54.3% of the population of the United States? so roughly 32.765% of the republic is working while 67.235% are not... and that is the dirty little secret!
We need to put a stop to entitlements quickly; it will be difficult, heck over 2/3rd's the republic are involved in it. The amount of people involved are why it will seem impossible to end. Have you spoken to anyone about ending entitlements? they say I agree we should get rid of this, but my "fill in the Blank" get's this and we shouldn't touch that, or my personal favorite "I paid into it my entire life and I want to get my "share" now..."
Sadly the population of the republic has no idea what is going on and they have been, just like junkies on the street, hooked by the Federal, Pusher Man, Government.
I am a retired Marine and Military Benefits are not the same thing; it is part of the serving your republic that others didn't do. I personally stay away from the Healthcare, I lost too many family/friends to bad care.
The biggest problem is everyone [except those that served their republic in Active Duty as military service members] 'believes' they are owed or should get things from the government when it is not the way the Federal Government was designed.
Now please explain how 105,862,000 can pay for their expenses and the expenses of 217,238,000 others... If you look at it rationally you will see how the Federal Debt is climbing as fast as it is; the Ponzi Scheme set up over the last 100 plus years is coming apart at the seams.
We can either tighten it up and accept the hardship and emotional issues it will cause or we can just continue and watch the Republic dissolve.
Whether they can work or do not choose to work, it is the same SOME ONE HAS TO PAY FOR THEM... Do you have children? I have 5, if I didn't pay for their food, clothing, education and the room over their heads they would have died. The money spent on them as well as every other person no fully funding themselves comes from those that work... It just so happens I am one of those "workers".
Freedom, if you just look for holes in the narrative, I guarantee you will find holes... even in the Holy Bible or U.S. Constitution... that is the lesson learned early on in design when you are asked to write up the proper way to make a PB & J sandwich; that design class helped a lot in my Engineering degrees Electronic/Biomedical.
We have to expect the reader will have the basics on this blog... or the blog will not have the storage space to do one actual post.
God bless Freedom...
No president can balance the budget because any money coming in is already owed out plus interest. The only way congress can continue the charade is to borrow more money (devaluing the currency) causing inflation with the printing of more money. George Bush and Bill Clinton pretended to balance the budget by counting some income as a revenue stream that is actually supposed to be considered off budget; i.e. Social Security money coming in was considered as income against debts it was not intended for. Balancing the budget (spending less than you bring in) is not the same as paying the debt which would still exist.
If the economy is ever to be in the hands of the citizens it must be a free market using money that has intrinsic value, otherwise everyone is trading worthless paper around hoping to not be the one caught with the paper instead of having a product when the paper becomes worthless.
Not true. The deficit and the debt are two different issues. The U.S. can begin issuing pure “unbacked” fiat money to fund the deficit, rather than going further into debt. The inflationary impact of unbacked dollars would be no different than the inflationary impact of the same amount of debt-backed dollars, and such a policy would call a halt to the increase in the national debt and its crushing $400+ billion in annual interest payments.
Using unbacked dollars rather than debt-backed ones, in theory we could pay off each bond or treasury bill as it matures. In practice, however, this would risk introducing too much new money into the economy at one time. Paying off part of the maturing debt each year and rolling over the rest should eventually bring the national debt (and its taxpayer-financed interest payments) down to zero.
Printing more money won’t necessarily lead to price inflation. In a growing economy, the money supply needs to increase each year in order to keep the value of the dollar stable. Under a gold standard, the government provides a mechanism for this necessary increase in the money supply: turning gold bullion into coins. In a fiat money system, however, the money supply can increase only if the government runs a budget deficit. But the government does not have to go further into debt to do so, it can simply “print” enough money to cover the deficit. In this scenario, price inflation will occur only if the government issues an amount of money greater than the increase of goods and services within the economy.
Lesson from history: Weimar Republic- [the new government of Germany after the Kaiser lost WWI]- They used your very same plan to pay their debt to the 'Banks'; and they only needed to pay $33,000,000,000 [33 Billion Dollars].
They printed their own 'un-backed' currency to "PAY THE DEBT"... can you tell us what happened; not on paper but in real life?
Okay, I will tell everyone for you, the Banks took in the money [because they made the rules, they had too], and because they lost their power, they created a world wide inflation that caused... wait for it... wait for it... Anyone... Anyone... the Great?... Anyone...Anyone... Depression? Yes, they created the Depression which crushed the World's economy propelling people to follow evil dictators which caused WWII.
On Paper it looks fabulous, but in the real world... not so much.
I really hate to say this... honestly, I do not think people of these United States can hold a candle to the intelligence of our Founders and Framers, but the only way to fix our current debt is a Constitutional Convention as was done in 1787 which fixed the screw-up of the Confederation of States [interestingly also a bank debt issue].
If we do have a Constitutional Convention and we do "ratify" [A.K.A. create a new republic] a new Constitution...we surely will be sorry for the changes we make to the existing U.S. Constitution... God help us all.
The U.S. today has one thing in common with postwar Germany and Hungary: the presence of a government debt that we are increasingly unable to pay back. We can continue “kicking the can down the road” as our national debt continues to become more unmanageable, or we can begin to gradually pay it down. Given our present political and economic circumstances, the only way we can accomplish this is by breaking the link between the federal deficit and the national debt.
The national debt does not really back our money anyway. See www.fixourmoney.com .
What is your "unbacked Federal Currency" other than the same type of "unbacked currency" the Weimar Republic and the Hungarian governments used?
Look at the Historical timelines and the timing of these issues... Realize that economies don't cave the moment the revenue or wealth of the government disappears.
ANSWER THIS HONESTLY:
You owe $100,000,000.00 and you only bring in $600,000.00 per year, can you pay it off with an I.O.U. of $100,000,000?
The reason I ask, is because as you know whether it was a Weimar Mark or a U.S. Dollar Bill... all they really are is an I.O.U. because they are not backed by anything but the faith the giver will honor it.
Now, when you print a bunch of money without any backing... it DEFLATES the existing currencies worth...which means what you gave as an I.O.U. isn't worth what you promised to pay originally, hence you are not honoring the original I.O.U.. This method is without a doubt just a 'ponzi scheme' make to screw the one getting the I.O.U.
Go try to save your mistake on the economy with someone else... If you want to be honest and move forward trying to create an actual plan I would be glad to continue conversing.
Til then... Good Bye
It’s true that fiat money is inferior to money backed by hard assets. But from a conservative or libertarian perspective, pure or “unbacked” fiat money is much less destructive to the economy and to personal liberty than the “debt-backed” fiat money we use today.
Although inferior to a gold-based currency, fiat money does in fact have real value. The U.S. dollar’s value derives from the fact that it is the official medium of exchange and unit of account within a large, productive and reasonably stable economy. It does not derive from the fact that $20 trillion in real U.S. government IOU’s are “backing” the nation’s currency.
What guarantees the worth of a dollar bill?
The Faith that the issuer will honor it!
What guarantees the worth of an I.O.U.?
The Faith that the issuer will honor it!
Tell me what "Fiat Currency" is worth when a nation collapses; Let's think 18th Century France and the French Revolution, or Germany at the end of the Weimar Republic in 1933, Shall we bring up the Confederation of States in 1865?
You claim the value of the U.S. Dollar is due to it being the World's "medium of exchange"? that began in the late 1940's and right now China's Renmimbi is poised to be the World's medium of Exchange; what happens then to the U.S. Governments I.O.U.?
Go do some studying...
The dollar does not have to be “the world’s medium of exchange” to have value as a currency. All I said earlier was, “The U.S. dollar’s value derives from the fact that it is the official medium of exchange and unit of account within a large, productive and reasonably stable economy.” The same is true of the British Pound, the Euro and the Australian and Canadian dollars.
And if a dollar bill is an IOU, why would you need another IOU (government bond) to “back” it? This wouldn’t strengthen the guarantee, since both guarantees are issued by the same government. You say that a nation’s fiat currency becomes worthless when the nation collapses, and this is true; but any bonds “backing” this fiat currency become worthless at the same time. So what purpose is served by a government issuing bonds and taxing its citizens to pay interest on these bonds – interest that today consumes one-third of the federal income taxes we pay?
Not as much as we all would like, but in the mist of one of the worst political tornato's...we can see a bit of light.
Will it continue?...your guess is as good as mine.
With a true Free Market, comes an enormous amount of accountability. I've stated many times and in my book as well, Your business model need only be focused on one thing first: The Customer, The end user of your product or service. Don't cheat them, don't poison them, USE your own product or service yourself and produce it the best, most efficient way possible and continue that over and over again. Don't go running to a politician or government to hamper your competition...out compete them by taking care of your customers.
As soon as you do...they own you.
If you honestly build a better mouse trap the world Will beat a path to your door.
Another important point, it's old fashion, but it will keep your legacy in tact. Empower your employees to be the best they can be and anyone that might take your place some day, should not only have started at the bottom but have the same inventive passion that you have.
Be Done with so called: Professional CEO's.
Need a consultant for one reason or another, That's fine, but don't let em run/ruin your company...they won't care about your customers, your product nor your employees like you do.
The Republicans must work to get more senators elected.and keep the House. Both doable by the senate job is much more difficult.
+1 to both
Yes he can, thank the One True God 'IAM', appoint like minded Federal Judges and express the truth to the people of the republic. But, the News Media doesn't have to 'relay' that information and the existing Government School system has indoctrinated the People to the point they do not even know the truth when it is given to them.
So can President Donald J. Trump "make good" on his promises? Only if we the so called 'outraged' [I think more likely 'awakened'] voters fight harder and stand bolder against tyranny and help him get the tools needed to help rebuild the foundation of the republic so it has a chance to be what it once was designed to be
We need a balanced budget amendment!