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Will ‘Trumponomics’ Bankrupt America?

21st Century Wire says…

F. William Engdahl is a strategic risk consultant and lecturer, he holds a degree in politics from Princeton University and is a best-selling author on oil and geopolitics.

Engdahl was a guest alongside Adam Garrie of The Duran on a power packed edition of The Sunday Wire with Patrick Henningsen entitled “War And Peace”. If you didn’t get the chance to catch it, you can find that podcast here.

More on this report from GlobalResearch…

(Image – TIME)

F. William Engdahl

The campaign promises were grandiose just like the candidate. Donald Trump wooed millions of American voters with his pledge to “make America great again.” He promised a $1 trillion infrastructure plan to revitalize the de facto depressed national economy. He promised to bring jobs back from China, Mexico and elsewhere by renegotiating major trade deals or scotching them entirely as with the Trans-Pacific Partnership of the Obama era, a scheme which Trump rightly said would take even more American jobs. After 100 days in office what are the prospects that his economic program will bring positive changes to Americans?

Dismal to put it mildly. Of course that should come as no shock to anyone taking a closer look at who is Trump, or more correctly his transition team brought in to run White House economic policy.

That Dubious Wall Street Economics Team

The top economic and financial position in the Trump Cabinet is held by of Steve Mnuchin, Secretary of the Treasury, a veteran Wall Street banker for 17 years at Goldman Sachs. As an undergraduate at Yale University, for those interested in occult matters, Mnuchin was inducted into the bizarre Skull & Bones secret society in 1985, the same secret society where George H.W. Bush and George W. Bush were initiates.

After leaving Goldman Sachs, Mnuchin was several times a business partner with notorious convicted hedge fund insider trader, George Soros, the putative ‘Daddy’ Warbucks today of CIA and USAID regime change NGOs around the world.

Both Mnuchin and Soros, with other investors, made a literal killing on the ravages of the US sub-prime real estate collapse. They bought bankrupt California mortgage lender IndyMac from the US Federal Deposit Insurance Corporation during the 2008 sub-prime mortgage crisis at a bargain price. Mnuchin was severely criticized as owner and CEO of IndyMac for making money by foreclosing aggressively on homes at a rate double the norms of the banking industry. He was sued over questionable foreclosures, and settled several cases for millions of dollars. He violated the Fair Housing Act by not lending money to African Americans, Hispanics, and Asians. If we are to believe him, he told the financial TV CNBC last November it would be the Trump administration’s job to

“make sure that the average American has wage increases and good jobs.”

A second key member of Donald Trump’s economic team is Wilbur Ross, Secretary of Commerce. Ross, a billionaire, was for 24 years head of N.M. Rothschild & Sons New York office for bankruptcy-restructuring, a euphemism for what is called “asset-stripping,” where he earned the title, “King of Bankruptcy.”

Ross’ ties to Trump go back to the 1980’s when Ross helped Trump avoid foreclosure on The Donald’s three Atlantic City gambling casinos. Ross’ International Coal Group owned a West Virginia coal mine where an explosion in 2006 killed 12 miners. It was later revealed by his former associates that Ross knew well that the mine was sub-standard in safety but did nothing to correct it. In 2014 Ross was named head or “Grand Swipe” of a secret Wall Street fraternity, Kappa Beta Phi, founded in 1929 just before the stock market crash, whose stated purpose is to “keep alive the spirit of the ‘good old days of 1928–29.” Michael Bloomberg, former Goldman Sachs CEO Jon Corzine, Laurence Fink CEO of the $4.5 trillion financial firm BlackRock, are some of the very select members of Ross’ Wall Street fraternity.

The Trump Director of the White House Office of Management and Budget (OMB), responsible for drafting the President’s annual Budget, is former US Congressman Mike Mulvaney. In his first Trump Budget proposal Mulvaney cut funds for a program “Meals on Wheels” which brings food to disabled, claiming the program showed no “results.” The program delivers meals to individual homes and senior citizen centers, feeding more than 2.4 million Americans 60 and older, more than half a million of them veterans according to their website. The government says that most recipients live alone, take more than six medications, and rely on these meals for at least half the food they consume.

Gary Cohn is the White House Director of the National Economic Council. He came to the job directly from Goldman Sachs where he was President and Chief Operating Officer. Cohn led a Goldman Sachs delegation to Greece in 2009 to try to convince the Greek government to use derivatives to push debt due dates into the distant future. Goldman Sachs in fact, while Cohn held a top position in 2001, devised the exotic derivatives scheme to hide billions in state debt from Brussels that enabled Greece to illegally qualify to join the Eurozone.

This is the gang that we are supposed to believe will “make America great again,” and to “make sure that the average American has wage increases and good jobs.” In fact, based on what they have released to date, they will destroy much of what little remains of a functioning national economy and a stable middle-class.

Continue this article at GlobalResearch

The above article was originally posted at F. William Engdahl’s New Eastern Outlook

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