Tag Archives: Donald Trump

Stay Alert, America: The Worst Is Yet to Come, by John W. Whitehead

Posted on November 15, 2016 | 1 comment

Nothing Donald Trump said during his campaign would lead anyone to believe he’ll halt or even curtail the US government’s long erosion of its citizens’ civil liberties. From John W. Whitehead at rutherford.org:

“Those who do not remember the past are condemned to repeat it.”—Philosopher George Santayana

Stay alert, America.

This is not the time to drop our guards, even for a moment.

Nothing has changed since the election to alter the immediate and very real dangers of roadside strip searches, government surveillance, biometric databases, citizens being treated like terrorists, imprisonments for criticizing the government, national ID cards, SWAT team raids, censorship, forcible blood draws and DNA extractions, private prisons, weaponized drones, red light cameras, tasers, active shooter drills, police misconduct and government corruption.

Time alone will tell whether those who put their hopes in a political savior will find that trust rewarded or betrayed.

Personally, I’m not holding my breath.

I’ve been down this road before.

I’ve studied history.

I know what comes next.

It’s early days yet, but President-elect Trump—like his predecessors—has already begun to dial back many of the campaign promises that pledged to reform a broken system of government.

The candidate who railed against big government and vowed to “drain the swamp” of lobbyists and special interest donors has already given lobbyists, corporate donors and members of the governmental elite starring roles in his new administration.

America, you’ve been played.

This is what happens when you play politics with matters of life, death and liberty.

You lose every time.

Unfortunately, in this instance, we all lose because of the deluded hypocrisy of the Left and the Right, both of which sanctioned the expansion of the police state as long as it was their party at the helm.

For the past eight years, the Left—stridently outspoken and adversarial while George W. Bush was president—has been unusually quiet about things like torture, endless wars, drone strikes, executive orders, government overreach and fascism.

Suddenly, with Trump in the White House for the next four years, it’s all fair game again.

Yet as Glenn Greenwald points out for The Washington Post, if Trump is about to inherit vast presidential powers, he has the Democrats to thank for them.

Unless Trump does another about-face, rest assured that the policies of a Trump Administration will be no different from an Obama Administration or a Bush Administration, at least not where it really counts.

For that matter, a Clinton Administration would have been no different.

In other words, Democrats by any other name would be Republicans, and vice versa.

This is the terrible power of the shadow government: to maintain the status quo, no matter which candidate gets elected.

War will continue. Surveillance will continue. Drone killings will continue. Police shootings will continue. Highway robbery meted out by government officials will continue. Corrupt government will continue. Profit-driven prisons will continue. Censorship and persecution of anyone who criticizes the government will continue. The militarization of the police will continue. The government’s efforts to label dissidents as extremists and terrorists will continue.

In such a climate, the police state will thrive.

The more things change, the more they will stay the same.

We’ve been stuck in this political Groundhog’s Day for so long that minor deviations appear to be major developments while obscuring the fact that we’re stuck on repeat, unable to see the forest for the trees.

This is what is referred to as creeping normality, or a death by a thousand cuts.

To continue reading: Stay Alert, America: The Worst Is Yet to Come

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What Now? by James Howard Kunstler

Posted on November 14, 2016 | Leave a comment

Donald Trump will face an economic and financial crisis, a theme SLL will pick up in an article in the next day or two. From James Howard Kunstler at kunstler.com:

Not to put too fine a point on it, America coughed up Hillary Clinton like a hairball last week — the catch being it then had to swallow the Cheeto-colored bolus called Donald Trump. It was worth it to see the fog of Hillary-smuggery lift across the cable TV networks since the “I’m With Her / It’s Her Turn” fog was a cover for the looting operation that the permanent Washington DC establishment had turned into, including the Clinton Foundation.

Obviously, the nation is reeling from this emetic, struggling to process the meaning of it all. The big “tell” for me came at a moment in last week’s Slate Political Gabfest, a leftish-oriented podcast, when moderator David Plotz asked his sidekicks John Dickerson (of CBS News) and Emily Bazelon (of The NY Times) what the Democratic Party might do to regain legitimacy after this electoral disaster. Dead silence on the air. Nothing came to mind.

Something came to my mind as a long-time disaffected (registered) Democrat: jettison the stupid identity politics and get back to reality. Alas, that may be too much to ask. For now, the party lies in ruins without a single figure of stature to represent a coherent set of ideas other than boosting the self-esteem of its favor-seeking constituent groups. Here’s my idea: how about forming a credible opposition to the so-called Deep State, the matrix of racketeering and empire-building that has drained the life out of this polity. That was impossible with the racketeer-in-chief leading the blue electoral ticket, but now the dynamic stands naked and obvious, answering the question: what to do next?

Another catch, of course, is that opposing the Deep State of Rackets is pretty much what Mr. Trump has promised to do, if “draining the swamp” means anything. He never quite articulated it clearly beyond that metaphor, but you can bet that’s what the DC establishment is so alarmed about. Trump’s behavior on the campaign trail is now being hailed in the media as a kind of genius. To me, it still seems oafish to an extreme, and it remains to be seen how such a blunderer might finesse our escape from the empire of rackets and the racket of empire. He begins to look like a man in a tunnel staring down the harsh light of the onrushing gravy train.

Mr. Trump might not know it yet, but his chief task will be managing contraction. It would appear to be problematic, since his chief promise — “to make America great again” — is based on restarting the epic expansions of the 19th and 20th centuries. Well, things have changed. This is no longer a virgin continent filled with motherlodes, untapped oil bonanzas, and fabulous soils begging to be exploited. In fact, we’re close to being played out where those resources are concerned. And the techno-industrial economy engineered out of those assets is wobbling badly.

There is a Great Wish that this system might be replaced just-in-time with some as-yet-unrealized Green Alt Economy of solar-charged driverless electric cars — but, of course, the unchallenged pathetic idiocy of the assumed car dependence at the center of this fantasy ought to tell you how exactly unreal it is. The contraction we face has mandates of its own, and it doesn’t include the continuation of Happy Motoring on any terms. I’m quite certain that the Trump forces haven’t even imagined it.

To continue reading: What Now?

 

 

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Okay, maybe I’m gloating a little, from the Lonely Libertarian

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Posted on November 14, 2016 in Humor, Uncategorized

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Why President Trump Will Fumigate the Fed, by Tommy Behnke

Posted on November 14, 2016 | 2 comments

It’s not a gold standard, but Trump appointing some so-called “hawks” on the Federal Reserve Board of Governors would at least be a step in the right direction. From Tommy Behnke at mises.org:

Starting in January, President-elect Donald Trump will have a unique opportunity to pack the Federal Reserve with hard money officials.

There are currently two open Board of Governors seats, which will most likely not be filled before the end of President Obama’s tenure. Additionally, both Chair Janet Yellen and Vice-Chair Stanley Fischer’s terms will be up by 2018. Crunch the numbers and you will see that Trump has the opportunity to replace a majority of the Board of Governors and a third of the FOMC with monetary policy hawks during his presidency.

Call me crazy, but assuming that the Republican-controlled House and Senate stands behind him, I believe that Trump just may shock the financial world by shifting this country’s monetary policy in a more hawkish direction.

Yes, this is a guy that cheered on the Fed’s easy-money policies in the years before the Great Recession. And yes, Trump did say in May that he is still a “low interest rate person” who will appoint another dove to head the Federal Reserve. Why in the world, then, am I arguing that the Trump administration might possibly install more hawkish members to the central bank?

Repeated Anti-Fed Campaign Rhetoric

For one, Trump’s occasional dovish comments do not match the passion and enthusiasm of his repeated hawkish campaign trail rhetoric. For the past year, the president-elect has been railing against the “false economy” that the Fed has created, as well as the political influence that runs rampant throughout the central bank.

Perhaps Trump’s most scathing attack on the institution came last October, when he insinuated that Fed actions are crippling the middle class without creating any type of benefit to the economy at large.

“[Chairwoman Yellen] is keeping the economy going, barely,” he said. “You know who gets hurt the most [by her easy money policies]? The people that went through 40 years of their life and saved a hundred dollars every week [in the bank].” He then paused and shook his head for added effect before adding: “They worked all their lives to save and now what happens is they’re being forced into an inflated stock market and at some point they’ll get wiped out.”

These anti-Fed talking points were recycled often on the campaign trail. In September, Trump attacked the Fed for putting us in a “big, fat, ugly bubble” and for keeping rates artificially low for political purposes, points that he again repeated in the first presidential debate. The business mogul has also promised to audit the Fed within the first 100 days of his administration and even included a criticism of the central bank in a recent online video ad.

To continue reading: Why President Trump Will Fumigate the Fed

 

 

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Dear President Trump, by Justin Raimondo

Posted on November 14, 2016 | Leave a comment

Justin Raimondo got on the Trump train early and now has some words of advice. From Raimondo at antiwar.com:

The recent presidential campaign saw a plethora of open letters directed at Donald Trump, at least two of which were authored and signed by neoconservative foreign policy “experts” denouncing him for challenging their most cherished notions.

Now it’s my turn to write an open letter, albeit coming from the opposite direction.

Dear President Trump:

Unlike what you might expect from a writer for a web site like Antiwar.com, I’ve given you a pretty fair shake. I have to admit that, at first, I just didn’t get it, but I’m honest enough to admit when I’m wrong. As you began to lay out your platform, I took notice – and, in the face of a lot of skepticism from my readers and even from some of my colleagues, I started to cheer you on. Not that I cheered every pronouncement – but when you started criticizing the conduct of American foreign policy under the Bush administration, and not just the Obama regime, I was quite impressed.

The turning point, for me, was when you got up at that South Carolina GOP presidential debate and said:

“I want to tell you. They lied. They said there were weapons of mass destruction, there were none. And they knew there were none. There were no weapons of mass destruction.”

You stood there amidst a storm of booing and said “Go ahead and boo” because you knew you were speaking truth to power – and you knew the American people were listening and nodding in agreement. As for me, I wasn’t just nodding – I was cheering. After all, I spent the entire run up to the war saying precisely that, and for the first time a major political figure – and a Republican at that! — was saying it too. For the GOP frontrunner to defy decorum, take a big risk, and tell the Republican donor class and the Bush-bots the brutal unadorned truth to their faces – that took courage. It took independence of mind. In that moment, you won my respect – and my undying gratitude.

Your willingness to swim against the tide, to question what “everybody knows,” was demonstrated once again when, in response to the widespread allegations that the Russians hacked the Democratic National Committee, you said “We have no idea who did it” – even as the Obama administration joined in the chorus. Because the truth is that we don’t’ know – and the “intelligence” cited by Washington is always politically self-serving.

Now I’m hoping you’ll exercise the same independent judgment in resisting the siren calls in the media to let your worst critics into your administration. Many of those in the GOP national security Establishment who were saying before the election that you are “unfit” to be President are now singing “Kumbaya” and trying to slither into the councils of state. Please reject them! These snakes in the grass will rear up and bite you in the ass at the first opportunity – don’t give them that chance.

To continue reading: Dear President Trump

 

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Donald Trump Boosts Europe’s Anti-Establishment Movement, by Soeren Kern

Posted on November 14, 2016 | Leave a comment

Europe’s establishment is primarily responsible for the continent’s anti-establishment movements, but Donald Trump’s victory will certainly give them a boost. From Soeren Kern at gatestoneinstitute.org:

“What America can do we can do as well.”

•  “America has just liberated itself from political correctness. The American people expressed their desire to remain a free and democratic people. Now it is time for Europe. We can and will do the same!” — Geert Wilders, Dutch MP, head of the Party for Freedom (PVV), and now on trial in the Netherlands for free speech.

•  “2016 is, by the looks of it, going to be the year of two great political revolutions. I thought Brexit was big but boy this looks like it is going to be even bigger.” — Nigel Farage, MEP and leader of the UK Independence Party.

•  “The political class is reviled across much of the West, the polling industry is bankrupt and the press just hasn’t woken up to what’s going on in the world.” — Nigel Farage.

•  “In a democracy, when the people feel ignored and despised, they will find a way to be heard. This vote is the consequence of a revolt of the middle class against a ruling elite that wants to impose what they should think.” — Laurent Wauquiez, leader of the French opposition party The Republicans.

Donald Trump’s electoral victory has come as a shock to Europe’s political and media establishment, which fears that the political sea change underway in the United States will energize populist parties in Europe.

Anti-establishment politicians, many of whom are polling well in a number of upcoming European elections, are hoping Trump’s rise will inspire European voters to turn out to vote for them in record numbers.

Commenting on Trump’s victory, Dutch lawmaker Geert Wilders, wrote: “America has just liberated itself from political correctness. The American people expressed their desire to remain a free and democratic people. Now it is time for Europe. We can and will do the same!”

More than a dozen elections will be held in Europe during the next twelve months, beginning with a re-run of the Austrian presidential election scheduled for December 4. Polls show that Norbert Hofer, of the anti-immigration Austrian Freedom Party, is on track to win that race.

Also on December 4, Italians will vote in a referendum on reforming the constitution. Observers say Trump’s victory will make it more difficult for Italian Prime Minister Matteo Renzi, one the few world leaders publicly to endorse Hillary Clinton, to prevail. They say Renzi’s open support for Clinton will hurt Italy’s relations with the United States. Renzi has said he will resign if he loses the referendum, which calls for curbing the role of the Senate. Most opinion polls show the “no” camp ahead. Renzi says the move will simplify decision-making, but opponents say it will reduce checks and balances.

General elections are scheduled in 2017 for the Czech Republic, France, Germany and the Netherlands, EU countries where anti-establishment candidates are challenging the established order.

Mainstream politicians and the media have sought to discredit populist leaders by branding them as neo-Nazi and xenophobic for their opposition to mass migration, multiculturalism and the rise of Islam in Europe. If Donald Trump can demonstrate that he is able to govern the United States and produce tangible results, especially by growing the economy and curbing illegal immigration, Europe’s political establishment will have a much harder time stigmatizing dissenters.

To continue reading: Donald Trump Boosts Europe’s Anti-Establishment Movement

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The Anti-Trump Protesters Are Tools of the Oligarchy, by Paul Craig Roberts

Posted on November 12, 2016 | 1 comment

The powers that be will excuse violent demonstrations and disorder if its directed against Trump. From Paul Craig Roberts at paulcraigroberts.org:

Who are the anti-Trump protesters besmirching the name of progressives by pretending to be progressives and by refusing to accept the outcome of the presidential election? They look like, and are acting worse than, the “white trash” that they are denouncing.

I think I know who they are. They are thugs for hire and are paid by the Oligarchy to delegitimize Trump’s presidency in the way that Washington and the German Marshall Fund paid students in Kiev to protest the democratically elected Ukrainian government in order to prepare the way for a coup.

The organization, change.org, which claims to be a progressive group, but might be a front, along with other progressive groups, for the Oligarchy, is destroying the reputation of all progressives by circulating a petition that directs the electors of the Electoral Collage to annul the election by casting their votes for Hillary. Remember how upset progressives were when Trump said he might not accept the election result if there was evidence that the vote was rigged? Now progressives are doing what they damned Trump for saying he might do under certain conditions.

The Western presstitutes used the protests in Kiev to delegitimize a democratically elected government and to set it up for a coup. The protest pay was good enough that non-Ukrainians came from nearby countries to participate in the protest in order to collect the money. At the time I posted the amounts paid daily to protesters. Reports came in to me from Eastern and Western Europe from people who were not Ukrainian but were paid to protest as if they were Ukrainians.

The same thing is going on with the Trump protests. CNN reports that “for many Americans across the country, Donald Trump’s victory is an outcome they simply refuse to accept. Tens of thousands filled the streets in at least 25 US cities overnight.” This is the exact reporting that the Oligarchy desired from its presstitutes and got.

I hope no one thinks that simultaneous protests in 25 cities were a spontaneous event. How did 25 independent protests manage to come up with the same slogans and the same signs on the same night following the election?

What is the point of the protests, and what interest is served by them? As the Romans always asked, “who benefits?”

There is only one answer: The Oligarchy and only the Oligarchy benefits.

Trump is a threat to the Oligarchy, because he intends to stop the giveaway of American jobs to foreigners. The jobs giveaway, sanctified by the neoliberal junk economists as “free trade,” is one of the main reasons for the 21st century worsening of the US income distribution. Money that was formerly paid in middle class wages and salaries to American manufacturing employees and college graduates has been re-routed to the pockets of the One Percent.

When US corporations move their production of goods and services sold to Americans offshore to Asian countries, such as China and India, their wage bill falls. The money formerly paid in middle class incomes goes instead into executive bonuses and dividends and capital gains to shareholders. The ladders of upward mobility that had made America the land of opportunity were dismantled for the sole purpose of making a handful of people multi-billionaires.

To continue reading: The Anti-Trump Protesters Are Tools of the Oligarchy

 

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The Inconvenient Truth Behind Donald Trump’s Victory, by Michael Lebowitz

Posted on November 12, 2016 | Leave a comment

Sometimes a few graphs are worth many thousands of words of explanation. From Michael Lebowitz at realinvestmentadvice.com:

Following the BREXIT vote in late June and passionate support for the Bernie Sanders campaign, the Presidential election of Donald Trump provided yet another sign that the American people, as well as many around the world, are increasingly demanding a new economic path. This piece is not written to opine on the election or the merits of Donald Trump. The intent is to highlight, through the use of a few charts, that the nation’s economic policy for the last 30 years has failed greatly and hollowed out the middle class. The consequences have been accumulating for years but have been camouflaged by ever increasing, but unsuccessful attempts to reignite economic growth.

The graphs below provide evidence that despite the narratives of the Federal Reserve, media pundits and most policy wonks, the economy is failing most Americans. While there are many ways to show the deterioration of the U.S. economy and the consequences endured by its citizens, we selected charts we deem to be the most telling.

We hope that no matter who you voted for, you study these graphs to better understand the impetus behind Trump’s victory. More importantly, we hope this helps everyone better grasp why economic policy must change before the consequences become dire.

As a supplement to these charts, we highly recommend reading or re-reading our important article “The Death of the Virtuous Cycle”. In that piece we identify and diagnose what we consider the most significant issue facing the United States and other developed market economies.

Income and Debt

Real Median Household Income is at the same level today as it was in 1998.

The ten-year average growth of wages has been declining for over 35 years.

Personal consumption (PCE), accounting for approximately 70% of GDP growth, has grown heavily reliant upon debt and transfer payments as wages are not sufficient to meet consumers demands. Transfer payments are payments from the government to its citizens. (Note: The numbers above do not add to 100% as there are other sources of consumption and wages are not entirely consumed.)

http://realinvestmentadvice.com/wp-content/uploads/2016/11/gdp-per-c-4.png

Secular economic growth (GDP) per capita has been in decline for the better part of the last 40 years. This helps explains the weakness in consumers’ wages and the increased dependency on credit and transfer payments.

Labor

Almost 95 million eligible workers are currently out of work. As a result the labor force participation rate has decreased over the last 16 years to levels last seen in the 1970’s.

To continue reading: The Inconvenient Truth Behind Donald Trump’s Victory

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A Visit To Trump’s America, by Edward Speed

Posted on November 12, 2016 | 3 comments

The signs, literally and figuratively, were there that Trump might win, out in the places where the beautiful people don’t go. From Edward Speed at TheRivardReport.com, via zerohedge.com:

Authored by retired bank CEO Edward Speed, originally posted at TheRivardReport.com,

Two months ago, when I was in Ohio visiting my daughter, I was given an insight into the early indicators of a Trump victory. The clues were there, but I didn’t fully understand what I was seeing. At that time, I had no inkling of the depth and breadth of rural dissatisfaction that would elect a Donald Trump as President.

I’m a photographer and the coordinator of The Texas Farm and Ranch Photography Project, photographing the daily lives of farm and ranch families, their work, meals, worship, and family life. In September, I drove almost 300 miles up and down the rural roads east of Dayton and south of Columbus, Ohio, to add some farm images to my portfolio.

Mile after mile, farm after farm, town after town, ag business after ag business, I saw only Trump signs. It was obvious that if Ohio was going to block Trump, it would have to be in the cities because agricultural Ohio was overwhelmingly Trump country. This mirrored the same Trump support that I saw in the agricultural communities I have been photographing across Texas for the past year.

As I engaged in countless conversations in both rural Ohio and Texas, I tried to understand how any farming or ranching family could even remotely identify with a brash, thrice-married, womanizing, bankruptcy-declaring, New York billionaire.

What I learned is that agricultural America felt not only ignored and forgotten, it felt rejected and despised by America’s political elite, and that any candidate who could hurt that elite was worth their vote.

No story brought this home to me more powerfully than a grandfather who spoke of national news stories about what he described as the whining and crying on elite college campuses by those who demanded “safe places” and “safe zones” where they will be sheltered from anything that remotely offends them. He spoke of ingrates wanting special “only me” safe places where they do not have to do anything, hear anything, see anything, or be around anyone or anything they don’t like.

In that farmer’s mind, while the safe-space crowd whined about its “offendedness” and demanded entitlements, children of agricultural families were up early in the morning working on their chores and projects, followed by a full day at school, coming home to more work – all while being part of a family, a community, and a nation.

He described watching youngsters at county fairs and livestock shows hauling feed, cleaning stalls, washing and grooming livestock, shoveling manure, unloading and loading their family trucks and trailers, and trying to sleep in uncomfortable chairs – all while ungrateful elite college students failed to appreciate their pampered lives.

To continue reading: A Visit To Trump’s America

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Financial “Hurricane” Trump Is Approaching Mexico, by Don Quijones

Posted on November 11, 2016 | Leave a comment

The Mexican peso has been clobbered since even before Trump got elected. That’s not good for companies with debt denominated in dollars who receive most of their revenues in pesos. From Don Quijones at wolfstreet.com:

Peso crisis could trigger next dollar-debt crisis in Mexico.

Within hours of Trump’s electoral triumph, the Mexican peso, which has become the number-one hedge against a Trump victory, had slumped a staggering 13% to its lowest point in history and its steepest intraday dive since 1994-5, when the Tequila Crisis came within a hair’s breadth of bringing down Mexico’s financial system, and with it some of the biggest names on Wall Street, including Citi and Goldman, before the Federal Reserve, US treasury, IMF, and Bank of International Settlements hastily intervened.

By the end of Wednesday’s trading, it recovered a little to close at 19.84 pesos to the dollar, down 8% for the day. Today, the peso fell another 4%, ending the day at 20.67 to the dollar. A hurricane — as Mexicans are fond of calling Donald Trump — is approaching. Thanks primarily (but not only) to Trump’s march on the White House, the peso has lost 18% of its value against the dollar this year, more than any other major currency except for the pound sterling. But the peso’s current woes began long before Trump announced his intention to run for president.

At the beginning of 2014, it took just over 13 pesos to buy a dollar. Now it takes more than 20. According to some analysts it could soon be 25.

Since Tuesday, Mexico’s monetary authorities have been on red alert but as yet have done nothing to staunch the peso’s decline, largely because there’s embarrassingly little they can actually do, as Mexican Secretary of Finance José Antonio Meade Kuribreña all but conceded just days before the election.

Last year, the Bank of Mexico (endearing known in Mexico as Banxico) tried to slow the stampede out of pesos by selling a small but growing fraction of its dollar reserves in open auctions, but to little avail. Even as the amount under auction rose from $50 million to $200 million, then to $400 million, the peso continued to crumble, until the central bank finally gave up on the costly but futile exercise.

Earlier this year Banxico upped the ante, raising interest rates, twice. But yet again the exchange-rate effects were short lived. That won’t stop the central bank from hiking rates further. If things get really bad, it may even begin auctioning interest-rate swaps, as it did in the wake of the global financial crisis. In the bank’s own words, such an operation is aimed at bolstering credit institutions “by reducing the duration of [their] assets” so they can “operate in a market with higher volatility and rising interest rates.” In layman terms, it’s more free money for the banks.

In 2008, Banxico carried out interest rate swaps with credit institutions for up to 50 billion pesos ($2.5 billion). Back then the swaps may have been enough to avert disaster, but they also coincided with the release of an unprecedented tsunami of newly created money from the Fed.

Conditions are now markedly different. Rather than being starved of cheap credit, the world is drowning in it. Corporate borrowing costs in dollars, euros, and yen have become farcically cheap in recent years, thanks to the rampant interventions of central banks. But as emerging market firms are discovering, it can be a lethal trap. As the peso swoons against the dollar, the dollar-denominated debt held by Mexican corporations with peso-denominated operating income becomes increasingly difficult to service.

To continue reading: Financial “Hurricane” Trump Is Approaching Mexico

 

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