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Is Trump Fighting a Losing Battle?

by Martin Armstrong, Armstrong Economics:

QUESTION: Why couldn’t Trump turn the Budget crisis into an opportunity and simply tell the American people that we have a budget cap and we will live within it and scrap temporarily his grandiose plans for big tax cuts and job creation. This would also put a lid on wild spending by politicians.

ANSWER: Trump should hold an address to the people like his news conference, but he has to realize the press is out to destroy him. Holding anything during the day only allows the press to pick it apart and show soundbites. As far as lowering the corporate tax to 10% one time to bring the money home, will create a boom and jobs. Boosting tariffs to support noncompetitive jobs at home will not work.

The healthcare crisis is tearing the country apart and this is the greatest depressant upon the economy. Obama shifted the costs to the youth to fund effectively illegal aliens. As far as people who cannot get insurance for some disability, I have a personal friend who was a Vet and was injured in a car accident. He has a pump inside him for pain management just to be able to walk. They say if he earns even $1, he will lose all benefits. The system is so screwed up, it is hard to fix something that really should be scrapped entirely and start fresh. The Democrats will defend Obamacare as will the press even though this is what is raising the costs of labor. Small businesses can’t keep up with the constant rise in healthcare costs and then Obamacare wanted to tax any benefit you get as income.
I became friends with Maggie Thatcher because I was restructuring Japanese companies to get into Europe. If they needed skilled labor for manufacture I was placing them in Britain. She wanted to meet the guy who was creating all these jobs in Britain. When she asked me why, I explained the the cost per employee was 40% less in Britain compared to Germany and it was the regulations and benefits that were the burden, not the wages. Employees never see those costs to an employer.
Those in Washington are just so far gone it will take a crash & burn to set things right. The mainstream media simply support the Democrats for that is what their boss directs them to do. There is no honest review or anything but propaganda. I am pessimistic that Trump will rise to the occasion for his policy on bringing home manufacturing jobs just does not make any sense.
Then you have the extreme left-wing Democrats who send me such hate mail you wonder if you need to hire a bodyguard. There is no possible way these people will ever be reasonable. They will blame Trump for every evil of the postwar era. I really do not see how we can prevent a disaster. That is why I gave up. The best thing we can do is understand the crisis, let history repeat, survive the chaos, and then try to put our two-cents in when the dust settles. There are just too many greedy hands all grabbing for the same piece of the pie. Only a sublime fool believes that if they can just get rid of Trump everything will be fine. I just hope he is not another casualty of history as was Herbert Hoover who was elected on November 6, 1928 and was blamed for the Great Depression that began 9 months after taking office. The incumbent President Calvin Coolidge chose not to run for a second full term.

Read More @ ArmstrongEconomics.com

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