Beware of False Economies
05/05/25 12:47
May 5, 2025 (Vol. 19 No. 19) - I may not be the one in my household who balances the checkbook or regularly checks our bank account, but I’m obviously someone who knows a hell of a lot more about the economy than the fool in the White House. Donald Trump is ruling the country by fiat. He believes that in what is supposed to be a constitutional democracy, what he says goes and cannot be challenged. His attention to things such as illegal immigration, tariffs, and liberal universities is what I would call an attack on the margins. These are not really things that Americans think a lot about. In fact, for the most part, these are things Americans benefit from. For example, let’s look at illegal immigration. Trump‘s rationale is that these “illegals“ are bringing crime and drugs to our country. Yes, there are some instances where that is true. But it is not true to the extent that Fearless Leader would have you believe. Drugs are not brought to this country by just "undesirables" from Central and South America. They’re also brought in by white collar, well dressed, well-educated Americans looking to make an easy buck. (If you really want to stop the flow of drugs into this country, stop the flow of American-manufactured guns out of the country financed with drug money.) But Trump has overreacted and overreached, as usual - and on purpose. Immigrants have become his straw dogs for vilification. What the Orange Fuhrer wants to do is round up the 11 million undocumented persons in this country and send them packing. However, he does so at the risk of our economy. The dimwitted governor of Florida seems to understand this. He’s talking about of a shortage of farm laborers because of deportations. Of course, his response is a purely Republican nonsensical approach: Let’s lower the working age so we can put children to work in the fields. Of course, Elon Musk believes Social Security - a program you pay for - is a Ponzi scheme. He wants to get rid of it and has made its services less accessible to those who need it. Then there’s Trump‘s attack on universities, such as Harvard. They are too liberal, too "woke," for his liking. He wants to take a slash-and-burn approach by denying them their federal funding. Of course, doing this undermines the very research and education components of our economy that has - to borrow a phrase - made America great. For example, does it make sense to slash funding that might help find a cure for cancer, cheaper energy sources, or safer modes of transportation? Of course it doesn’t. But that doesn’t matter in Trump World. There is no strategic vision coming out of Washington these days, just retribution. In turn, it is creating a false economies that will lead this country toward an unpleasant reckoning. What Mr. Trump isn't smart enough to realize is that this ugly reckoning will also become his own. That's it for now. Fear the Turtle.