Why the elites hate Trump, by Bill Bonner

The elites hate Trump because he has made the elites, and their misrule of the world, an issue, one that resonates with millions of people. From Bill Bonner at bonnerandpartners.com:

POITOU, FRANCE – What a rollicking good time we’ve had these past few days.

The G7… the North Korean summit… Canada’s “backstabber” chief… trade wars… U.S. midterm elections…

Did any generation before us enjoy so much cheap entertainment?

Place in Hell

The highlight was probably Peter Navarro’s comment, referring to Canadian Prime Minister Justin Trudeau, that “there’s a special place in Hell for any foreign leader that engages in bad-faith diplomacy with President Donald J. Trump…”

This seems to represent yet another remarkable extension of executive authority. The White House has already taken upon itself the power to decide, without any input from Congress, when the U.S. goes to war, and with whom.

It also seized the power to set the terms of trade with other nations… and even to determine the fate of a single foreign company, as it did with Chinese telecom firm ZTE, which was banned from purchasing equipment from American companies.

And now, it’s taken an unprecedented step towards total, unbridled power. Up until now, it was God who determined who went to Heaven or Hell. Now, apparently, it is America’s duly elected president.

Later, Navarro even bungled his apology, saying that his “mission was to send a strong signal of strength.” Then, on the heels of this gibberish, rather than admit that he had been talking nonsense, he said that his “language was inappropriate.”

But it wasn’t the language; it was the thought. And it wasn’t inappropriate; it was simply dumb.

So much delicious noise… all sound and fury… signifying nothing, of course.

But very entertaining.

Rising Tide

Meanwhile, over on page 12, the FT offers an Investment Management Summit on “Rebalancing Return and Risk Amid Global Recovery.”

Our advice to readers eager to attend is to flip ahead to the next page. There, they will find out why the headlines are nothing but distractions…

…and why “global recovery” – whether pitched as dignified fraud by the FTor as blustery BS by Donald J. Trump – is a mirage.

For there, on page 13, is a photo of “Super Mario” Draghi, formerly of Goldman Sachs and lately of the European Central Bank.

It was Draghi who said, famously, that he would do “whatever it takes” to save the financial system the elite had created.

To continue reading: Why the elites hate Trump

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