Listen to my April 14, 2017 Alternative Visions Radio Show on reports showing the US and global economy still stagnating at best, despite all the hype about Trump policies. Also, a revisit to the ‘about-face’ of Trump on several fronts from his ‘false right wing populism’ promises of his 2017 campaign. My predictions of ‘tamed Trump’ are being realized.
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As the euphoria of the false promise of Trump policies stimulating US economic growth continue to fade, host Dr. Jack Rasmus reviews several economic reports indicating not much has changed for the US and global economies since Trump’s election. Jack reviews the IMF’s report on productivity that continues to slow (US productivity now less than 0.5% annual growth compared to 2% average before 2008). The World Bank report of global trade slowest since 2009 and now at 1.9% less than global GDP for first time. Credit Suisse Bank’s global wealth report, showing top 1% net assets at $4.5 million average, but almost twice that in the US. OECD report of real disposable income declining. Princeton University Survey showing high school educated, 25-55 year old white working class in US death rates soaring, worse than blacks, rooted in job despair. US low interest rates since 2008 have shifted more than $1 trillion from retirees to bankers. Labor’s share of total income now 8% less than before and the various reasons for it. And H1-B visa proposals by Trump are ‘cosmetic’ according to Tech companies. Jack reviews his predictions of last November 30 that the economic and political elites will ‘tame’ Trump. Growing evidence this has been occurring and will continue, from the recent boot to radical, Steve Bannon, to Trump policies in Syria, NATO, China, trade deals, Russia, Export-Import Bank, etc.