Bunk Moreland

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The exception is Mr. Trump, a businessman-outsider to government trying to pull off an escape from the deadly debt quandary. It’s probably impossible, but he is trying nonetheless. It has three main features: 1) to readjust trade relations that, in theory, would restore industrial production across the land — a bootstrapping operation to kick off “growth.” 2) to engineer a severe re-set of the money system that would effectively amount to defaulting on debt but somehow without the feature of disappearing money. At best, this would induce some kind of fall in living standards, but mostly among the small sector of financial buccaneers who thrive on swindles and the Boomers living on investment accounts (figment wealth), who are now dying off anyway — which is to say, Great Depression Lite. And 3) the least understood feature of Trumpism: to decouple the USA from the resource scarcity in the rest of the world, and the consequent strife it’s inducing, and withdraw into a sort of Fortress North America that can somehow carry-on self-sufficiently while everybody else collapses.

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