You could also cite White House budget director Mick Mulvaney’s interview with CNBC, which revealed that he doesn’t care about deficits if they get in the way of tax cuts, as has been true since at least Reagan. Now we can add in Cohn-ism, which reveres globalization, puts the US market into a bidding war to achieve geopolitical outcomes, hands out gifts to financial interests and multinationals, and keeps the global pecking order stable, with the United States firmly in imperial control. We’ve already seen an extreme focus on the core Republican ideas of deregulation and tax cuts.
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They reflect the stodgy business Republicanism America has come to expect since the 1980s. It would not be out of place to see Jeb Bush endorse every single one of these positions. NATO policy doesn’t have an obvious economic component, but maintaining global geopolitical order, while positive, also entrenches the world’s economic superpowers and enables them to more cooperatively lean on everybody else.
#Goldman house of the dead 2 free#
As economist Dean Baker told me a couple years ago, “It is just one more example of how the rich and powerful have no interest in the free market when circumventing how the market works to their benefit.”
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You can make a case for supporting Ex-Im to keep the United States competitive with other countries, though to do so, you have to forget all your impulses about the importance of unfettered free trade. In back issues of The Nation you can find liberals railing about the distasteful corporate-welfare schemes of the “Bank of Boeing.” And the truth is actually closer to what Trump said in 2015, that Ex-Im’s assistance lavishes subsidies on a few very large companies, and provides support to seriously retrograde policies like building coal plants. Ex-Im has always accompanied such shifts parties criticize it when out of power and support it when in power. Trump now supports the Ex-Im bank, following President Obama’s lead.That makes financiers happy, as does the gradual interest-rate rise Yellen is carrying out. In fact it’s been below target for her entire Fed tenure. But Yellen’s Fed has also dedicated itself to keeping inflation low. This would be a triumph for monetary-policy certainty, something big business craves. Trump reversed himself by suggesting openness to re-nominating Janet Yellen at the Federal Reserve.You know, like Goldman Sachs, to use a completely random example coincidentally connected to the head of the National Economic Council. An artificial drop from a norm-breaking presidential statement on the direction of the currency would do little in the long term, but it does increase volatility-which is great for those who facilitate trades in financial markets. While a weaker dollar could help US manufacturing over the long term due to cheaper export prices, the important factor is the reason for the weakness. Trump managed to do some currency manipulation of his own in the same interview, musing that the US dollar was “getting too strong.” This sent currency trading markets plunging.America first, the American middle class second. The trade is always the same: geopolitical desires outpoint economic ones. One day it’s cooperation on North Korea, the next it’s extending spheres of influence in Latin America or South Asia. That fits hand in glove with neoliberal strategy on trade for decades, to use market concessions as a bargaining chip to obtain national-security or geopolitical goals. More troubling is Trump’s admission that he offered China a “better deal” on trade if they helped defuse the genuinely frightening North Korea situation. This presages more races to the bottom for the cheapest labor available. The manufacturing workers left in America would like to be able to compete, but multinationals do too much business in China (and across Asia, where currency manipulation is ongoing) to want to disrupt their supply chains. But everyone can see the real signal here: a less stringent crackdown on Chinese mercantilist policies. This is generally true for the moment, though not a guarantee of future results. Trump told The Wall Street Journal that China was not a currency manipulator, after saying the opposite for years.