Elder Patriot – The media influencers, the Washington Post, the New York Times, the Wall Street Journal, and all the other globalist investor class propagandists are in full anti-Trump mode (can it get any worse than it already has been?) over President Trump’s bold reset plans for American trade policy.
Since Ronald Reagan left the White House America’s blue collar workers haven’t has a friend with any significant political clout in Washington. This left the investor class free to run roughshod over American workers. Which they never hesitated to do.
Offshoring production, unfettered immigration, and one-sided trade deals combined to drive down wages and eliminate jobs to line the pockets of big business.
On September 4, 2016, after reviewing the rhetoric that came out of the World Economic Forum in Davos we wrote:
The United States has been used as a piggy bank to fund the development of the larger global market by these globally oriented financial institutions. This was confirmed by Ernst & Young Global Vice Chair of Public Policy Beth Brooke-Marciniak who commented at the most recent gathering of the world’s financial elites in Davos, Switzerland, “The globe needs the U.S. to be strong. The U.S. is still the horse that’s pulling the cart, and more so now with the capital outflows from emerging markets.”
Americans had little left to give but these bankers and financial elites weren’t done picking over the carcass of the American economy. That’s why they aligned so stridently against the economic fix propounded by Donald J Trump. For the elites it was nothing personal, just business.
Three decades of corporate globalism had resulting in a massive redistribution of wealth to the financial elites and left millions of America’s workers without jobs and, for those who still had one, stagnant and oft times diminishing incomes. In many cases this also destroyed their personal lives. Again, nothing personal, just business.
Blue Collar Americans, having been stripped of their livelihoods and their families, voted for Donald J Trump and his promise to reopen all of those “beautiful” shuttered factories and to return their government to them. Hey Big Guys, nothing personal, just an honest politician that you couldn’t buy… or buy off:
Just days prior to Trump’s inauguration, Deutsche Bank released an economic forecast confirming that Americans had made the right decision in electing Trump. A CNBC report from January 9, 2017 ran under this headline:
Trump’s plans could double US GDP growth by 2018, Deutsche Bank says
Wow! That was an abrupt turnaround. For the year and a half of Trump’s candidacy we had been told he would cause an economic armageddon if he were elected and his policies implemented. Suddenly, as he prepared to take office this:
President-elect Donald Trump‘s policies have the potential to trigger a new age in U.S. economic growth that could serve as a global template, according to a Deutsche Bank forecast.
Gross domestic product growth would be double its current level under an agenda that cuts regulations across a broad swath of critical sectors, enacts tax reform that slashes personal and corporate taxes, and calls for at least $1 trillion in improvements for bridges, roads and other public projects.
“This policy mix has the potential of reigniting productivity growth and raising U.S. growth potential,” David Folkerts-Landau, chief economist at Deutsche Bank, said in a report for clients. “While Trump introduces higher uncertainty, this is better than the near certainty of the continuation of a mediocre status quo.”
If anything ever proves the mockingbird media exists solely for the benefit of the elites this was it. They lied until it was game over and then pivoted on a dime to signal to their listeners it was time to embrace new strategies.
Here we are, less than 18 months into the Trump economic plan and every key economic indicator is off the charts. And the good times are a rollin’ with no end in sight.
Now Trump has turned his attention and wisdom to Stage II of his plan to restore economic independence to American workers. He has set his sights on ending the $800 Billion trade imbalance that is stripping us of our wealth, and on China’s restrictive policies that are stripping us of our intellectual property and technology advantages.
The world has built this $800 Billion annual heist by placing onerous tariffs on goods we send to them making our exports uncompetitive against their domestically produced goods. The elites call this Free Trade. Who can argue with Free Trade? The truth is it’s anything but free or fair and Charles Payne expressed the proper amount of outrage this morning in defending President Trump’s decision:
— Fox News (@FoxNews) July 6, 2018
After months of trying to get China to agree to a more balanced – not a completely balanced – arrangement Trump realized that it was time to exert our leverage and this morning Trump dropped the hammer on China by announcing he would be placing tariffs on a potential $500 Billion in Chinese goods entering the U.S.
The pain for U.S. consumers will last only so long as it takes for American manufacturers to gear up for the new demand or until China comes to its senses.
Even if China later comes to its senses and removes the tariffs and Trump responds in kind it will be too late to turn back the tide on the rebirth of the American manufacturing sector. A tariff-less trade relationship was what President Trump has been insisting on since negotiations began.
The fact is, China can’t compete against the U.S. without the imposition of unfair and unbalanced burdens on American produced goods.
China was foolish to let things get to this stage because now Trump won’t be satisfied even if China acquiesces on the financial considerations. He will now demand they end the fifty methods they employ to steal our intellectual property and our proprietary technology.
WH Trade and Manufacturing Policy Director Peter Navarro released this chart that outlines China’s methods of theft yesterday:
It was accompanied by this 36-page report that documents every sordid detail:
President Trump has made manufacturing and economic prosperity a cornerstone of his strategy to increase America’s national security. Now, comes evidence from the Express that he was dead on:
China’s military reforms to ‘WIN A WAR’ and overtake the US revealed in leaked memo
David Asman was as blunt as this situation warranted in describing what brought us to this point this morning:
— Fox News (@FoxNews) July 6, 2018
Buckle up. The road forward may be a little bumpy for the next 6-12 months as U.S. manufacturers gear up but trust Trump’s plan to bring long term prosperity back to the U.S.