Wednesday, April 26, 2017

BOMBER TRUMP HAS DANCED AWAY FROM THE POPULISM HE CAMPAIGNED ON AND INTO THE ARMS OF WALL STREET

Good article on how Trump has betrayed a lot of what he said he stood for during the election campaign.

Add to this the relentless bombing, intervention in Syria for his glamorous, globalist daughter Ivanka, and a surprise possible nuclear war with North Korea...
...Trump has danced away from the populism he campaigned on and into the arms Wall Street. It's arguably the greatest shift of the early days of his presidency, and it's having a substantial impact on economic policy.

... He's dialed back massively on the protectionist trade talk, especially on China. Trump campaigned on ripping up trade agreements like NAFTA and labeling China a currency manipulator (a fancy word for a cheater) on "Day One" in office. None of that happened.

Now he says China isn't so bad on trade, and his administration is studying how to tweak (not totally rip up) trade deals.

"What we've learned from Trump is his initial comments are outlandish, but they generally don't happen," says Randy Frederick, managing director of trading at Schwab.

... Instead of bashing banks, Trump is now pushing hard to scale back the Dodd-Frank law that was put in place after the financial crisis to prevent bad behavior from financial firms.

He recently said he'll "do a big number" on the law. It's exactly what top Wall Street CEOs like JPMorgan's Jamie Dimon have been advocating for years. The fact that it's been a first 100-day priority is telling since it wasn't part of his "Contract with the American Voter" that he put out before the election.


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