Donald Trump, who takes office in a matter of days, defeated Kamala Harris in large part because of voter dissatisfaction over the economy. But what will his economy look like?
In many ways, this is a tale of two economies. The stock market, tech and the wealthy are doing better than ever. The working class and manufacturing are struggling. Can Trump reconcile his populist and billionaire bases? Can he keep inflation under control? Might he consider expanding the social safety net, especially for healthcare, or increase the minimum wage? What will he do as A.I. continues to kill jobs?
“The TMI Show” tries to predict the state of the US economy in the coming year. Co-hosts Ted Rall and Manila Chan is joined by Aquiles Larrea, CEO and Founder of Larrea Wealth Management.
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I’m reminded of the anecdote from the French Revolution. One of the nobles escapes Paris and takes shelter at an inn. The woman running the inn asks him about what he wants for breakfast the next morning. “Eggs will be fine,” he says.
“How many?”
“A dozen,” replies the noble, who’d never had to actually cook his own breakfast.
The innkeeper turned him over to the next patrol that stopped by.
Trump’s success will depend completely on whether he can deliver the bread and circuses. Does he know how many eggs to serve for breakfast? Can he get the paychecks rising and going out to the poor and working class?
I think, a lot more than people give the Oaf-in-Chief credit for, he understands that poor people don’t buy things. It’ll be a hell of a thing if he turns out to be the one who sees the cold equations and realizes, “They will string me up by my neck and hang me until I’m dead if I don’t give them health care and living wages.” But I’m bracing for a return to the Depression. All signs are pointing to the whole system simply shattering.