You are pointing out valid complaints. What is left of the US, indeed! Trump has been trying to bring our businesses back home and he's most certainly the first President in decades to focus American attention on the evils of China. So we will see massive realignment of our businesses OUT of China as a result of this pandemic and we will see more critical infrastructure and medicines manufactured here in the US for national security reasons. So all of that will be made better in the long run.
As to our economy and the bigger picture...it is now in a financial shambles. We were running a pretty darned good economy prior to this mess, but shutting the economy down was a mistake and it will likely be the most costly mistake in US history. Right at this moment, we on the left and right are unified in one thing and one thing only. All agree that the economy should have been and should continue to be shut down.
I am one of the VERY FEW who say we should NOT have shut this economy down, because the lives that action will cost due to poverty will be far greater than lives saved from COVID.
In addition, this economic armageddon may very well put the final nail in the coffin for the US dollar. We are now signing our own death warrant. Does anyone really want to see what a world look like with American power so degraded we cannot push back on China? All of the liberals on the left who are salivating over Socialism and Communism are about to get a lesson in how that looks up close. I can promise you, none of you will like what you see when it is truly implemented here in all its grossest forms. Judging from the latest relief package and the latest Fed's action, we've destroyed price discovery in the capital markets. In addition, we've already implement MMT and UBI. We are all Socialists now, like it or not. Bernie didn't need to continue running against Biden. He already got what he wanted.
Look at the stock market rising! Isn't that mind boggling? To me it is not. It is a gross distortion from profligate money printing by the Fed. It's monetary gluttony of the crassest sort, in that enriches the 1% at the expense of the 99%. And both parties hail this moment in Fed history as "its finest hour". I'm so beyond disgust at this point, because I know what is coming. I think you know what is coming too. We differ in that you blame Trump for everything. I am a little more rational in that I understand that Trump is a bit player in a much broader game that he has only recently joined. The Fed will destroy this country almost singlehandedly, cheered on by Congress, both parties, and yes, by Trump.
When all is said and done, us folks who warned that currency debasement cannot continue indefinitely will not really be triumphant, because we too will have lost all of our life savings. Currency destruction is a virus that kills everything monetary and it kills hopes and dreams too. And finally, it kills entire countries. Just ask Venezuela, Cuba, Weimar, Zimbabwe, and even Rome. |
