Trumped! A Nation on the Brink of Ruin... And How to Bring It Back
“TRUMPED! A Nation on the Brink of Ruin… And How to Bring It Back,” is a book written from a former insider who is now providing analysis from the outside. David Stockman breaks down how more than three decades of financial and political policy, created in the depths of the Washington-Wall Street alliance, has taken the U.S to the disastrous edge.
Here’s what you should know about TRUMPED!:
Who is David Stockman?
David Stockman is a former two term U.S Representative from the state of Michigan (1977–1981). He also served in the Ronald Reagan Administration as the Director of the Office of Management and Budget (OMB).
After leaving the White House, Stockman spent two decades on Wall Street. While working as an investment banker and private equity investor Stockman can hold direct testimony to America’s financial markets that have morphed into the Bubble Finance schemes that got us to where we are today. He also is founder of David Stockman’s Contra Corner and David Stockman’s Bubble Finance Trader.
Ronald Reagan with David Stockman (on right). (Jeff Taylor/Associated Press)
Why was “TRUMPED! A Nation on the Brink of Ruin… And How to Bring It Back” written?
According to Stockman the liberation for our current ruinous policy regime has to start somewhere. It has to start with the Republican Party candidate, Donald Trump. The book was written as an “indictment” of the status quo. The conditions that the Federal Reserve has instituted as policy is putting the nation on the edge of an economic disaster.
Is “TRUMPED!” an endorsement of the Trump campaign?
The book is no cheerleading testament to the Trump campaign. Stockman even highlights that a good amount of what Trump has advocated for in policy he finds misdirected or flat out abhorrent. What the book focuses on is that Trump pushes an agenda where the U.S is not the world’s policeman. We are not the indispensable nation. We can push forward an agenda focused on a Main Street political insurrection.
What has put America on the brink of ruin?
The author points out that the Fed’s destructive zero interest-rate policy (ZIRP) and the multiple phases of spending from its quantitative easing (QE) policies have buried Main Street in a web of escalating debt.
Stockman puts forth the agenda that elites that are isolated on both coasts have benefited heavily from the massive financial inflation that is the Wall Street machine and has left those in the middle states behind. He highlights that what brought America to the brink is the debt-fueled reach of imperial efforts, Washington’s domestic adaptations and global interventions that have spanned throughout the past thirty plus years.
What is Flyover America?
Stockman uses the term Flyover American in which the everyday worker continues to fall further behind. Flyover America is what is commonly referred to as the Main Street economy. It is a term for the people between the coastal metropolis cities that make up the majority of our working class. The former Washington insider puts forward that they are important because if we were to look at the actual inflationary numbers in America it would also show that real incomes are down 20%. The impact on real people has been sustained and detrimental to their economic futures.
In Flyover America saving money has been significantly strained. What is actually saved by the Main Street economy almost always goes to the benefit of Wall Street. We see this problem resurfacing again and again, as exemplified by the sub-prime mortgage loan crisis.
The author states that at the heart of this problem is the Federal Reserve. He writes that ultimately, Donald Trump is more likely to take on Wall Street and the Fed, bringing Flyover America back from the brink.
What does “TRUMPED!” propose for the U.S political economy?
Stockman puts forth that Trump, is a “political outlaw,” and someone who has promoted his resume as one of the world’s greatest dealmakers. As a reputed dealmaker he would need to “make ten great deals.”
These deals that Stockman outlines would bring America back from the brink of collapse. Amongst the ten the author highlights are a Super Glass-Steagall Deal, a Peace Deal, a Sound Money Deal, a Jobs Deal, a Liberty Deal and five other deals that could bring the U.S back on course.
How has “TRUMPED!” offered new insight into the political status quo?
The historic outtake of the campaign Donald Trump has assembled is that regardless of the outcome on November 8, he has shown that the inner connected elites that have been ingrained in the Washington and Wall Street corridors will fracture and come to an immediate halt.
What’s at stake for Election 2016?
The author summates that under a potential Donald Trump presidency there will not be a trigger-happy stimulus plan or an elaborate economic policy “band-aid” set up for the first 100 days coming from Pennsylvania Avenue. The age of the “Imperial City” in Washington will be broken.
Stockman believes that in the instance that Hillary Clinton wins the Oval Office, we will see a firmly controlled House of Representatives by the GOP that would nose dive even further into a polarized standstill for any economic actions that the White House might try to engineer. The status quo would attempt to carry on and likely go far beyond the brink.
When is the book out?
“TRUMPED! A Nation on the Brink of Ruin… And How to Bring It Back” Is available right now, Tuesday September 13 in Kindle Edition on Amazon. It was published by Laissez Faire Books.
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