Political Realignment is Coming to America

Just over three years ago, presidential candidate Hillary Clinton, speaking at a fundraiser in New York City, characterized half of Donald Trump’s supporters as a “basket of deplorables.” And for over three years, Trump, along with everyone who supports him, has been subjected to passionate hatred from nearly everyone who would rather have seen Clinton elected.

It’s therefore tempting to return the favor, and hate back, but that would not only be a tactical mistake – since you catch more flies with honey than with vinegar – but also inaccurate. There are a surprising number of liberals, progressives, and even socialists, who are not only anti-Clinton, but are begrudgingly, and increasingly, capable of seeing positive sides of the Trump presidency.

A very early indication of this was in back in October 2016, when John Pilger published in the London Progressive Journal an influential article entitled “Why Hillary Clinton Is More Dangerous Than Donald Trump.” Pilger, notwithstanding his socialist leanings, is a world renowned journalist and filmmaker of undeniable courage and integrity.

In an eloquent tirade notable for its many, many examples of how Hillary Clinton is a murderous establishment puppet, this observation by Pilger summed it up, “She is no maverick. She embodies the resilience and violence of a system whose vaunted ‘exceptionalism’ is totalitarian with an occasional liberal face.”

Sound familiar? And wow, how that system has tried, and continues to try to take down Trump. Pilger saw this coming. About Trump, he wrote, “In the circus […] Read More

Towards A Nationalist Economic Policy

Suggesting that managed inflation and currency devaluation are pathways to greater national prosperity is bound to invite howls of derision. But critics may be ignoring factors, which, if acknowledged, might point towards consensus. At the least, it might provoke a more useful discussion.

With that in mind, here are four economic realities in America today:

1 – Despite that the word “fiat” is often used as a term of derision, all currencies are fiat unless backed by redeemable commodities. China is stockpiling gold amidst rumors they may try to tie the Renminbi to gold. Good luck with that.

2 – Throughout history, nations with the ability to sustain capital formation through financial innovation are the ones that succeeded. Prudently managed fractional reserve lending, a financial innovation, enables far more liquidity in the economy.

3 – The biggest engine of liquidity is not printing currency – there’s only about five trillion in actual printed US dollars extant in the world – it is debt formation, backed by collateral, that finances massive projects and asset acquisitions.

4 – American has been on a borrowing binge since the 1980s and total market debt – consumer, commercial and government – now stands at nearly 3.5 times GDP. This level of debt is unsustainable.

On this final axiom there should be agreement. As for the others, concerned observers might agree to disagree. Suffice to say that the economic disruption, and unintended consequences, that would accompany transition to a commodity backed currency […] Read More