High tariffs to protect US manufacturing and raise revenue for government while reducing federal taxes are a great policy as long as tariffs are implemented in a way that they do not trigger inflation.
Sustained, deep, real prosperity will come with the renationalize of the Federal Reserve.
William McKinlay made tariffs the main revenue of the US government before the Fed was privatized in 1913. The tariffs complemented a People s Central Bank printing free money for the US government to pay its expenditure. This is sound finance. Sound money is the basis for business growth. That s clear from the way the Russian and Chinese economies are prospering.
JP Morgan s CEO Jamie Dimon seems more realistic than the rest of the private bankers about the imminent dollar collapse. But does he have a conflict of interest which will prevent him working for businesses, the real economy?
The private bankers and private central banks are the ultimate predators and looters of real world economies due to the way private money issued as debt transfers to them over time all wealth as interest.
Important for Trump to get someone who really knows how central banks and economies work. He could maybe even ask the Russian economist and Defence Minister Andrey Belousov for advice? The Russians and Chinese might be delighted to see the US focusses on domestic prosperity and peace.
From medi
Trump Reveals Key Pillars Of "Trumponomics": Low Taxes, Sky High Tariffs, Powell Not Fired, Treasury Secretary Dimon And Much More
Tyler Durden's Photo
by Tyler Durden
Wednesday, Jul 17, 2024 - 05:40 AM
Before the failed assassination attempt, before the catastrophic (for Biden) first presidential debate, Donald Trump gave Bloomberg an extensive interview in which he laid out the core tenets of Trumponomics 2.0 that will define his next presidency. Here are the key highlights:
According to the interview, if Trump wins, he will...
enforce huge bilateral sanctions even though he claims “I don’t love sanctions,” he says. He keeps circling back to William McKinley, who he says raised enough revenue through tariffs during his turn-of-the-20th-century presidency to avoid instituting a federal income tax yet never got the appropriate credit.
allow Jerome Powell to serve out his term as chair of the Federal Reserve, which runs through May 2026
will lower the corporate tax rate to as low as 15%
no longer plans to ban TikTok.
considers Jamie Dimon to serve as secretary of the Department of the Treasury
ambivalent (if not outright hostile) to the idea of protecting Taiwan from Chinese aggression and to US efforts to punish Putin for invading Ukraine.
While the broad strokes of Trumponomics might not be different from what they were during his first term, what’s new is the speed and efficiency with which he intends to enact them. He believes he understands the levers of power much more deeply now, including the importance of selecting the right people for the right jobs. “We had great people, but I had some people that I would not have chosen for a second time,” he says. “Now, I know everybody. Now, I am truly experienced.”
https://www.zerohedge.com/markets/trump-reveals-key-pillars-truponomics-low-taxes-sky-high-tariffs-powell-not-fired-treasury
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