Is economic growth over?
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That’s the question Americans are asking. Some blame Trump for his trade wars and a cavalier attitude toward the ship of state.
Others blame the big banks, for melting down the economy in 2008 and patching it together in a way that served to enrich few other than themselves.
But the bank of banks, the Federal Reserve, wanted to push interest rates higher. They said the economy was doing well enough to hike them. Not just for the wealthiest, but across the board. Unemployment had hit historic lows. The rest of the world was stagnating. China ground to a halt, the US was on a tear.
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And Trump said the Fed was too eager to raise the price of money. That’s going to kill our winning streak, he said. They need to hold off to save Trump’s tax cut boom from going bust for the American people.
As usual, Trump got dumped on for defying the experts.
Now the Fed isn’t raising rates for the rest of the year.
Of course, the banks don’t want to give Trump any credit. Oh, they say, our analysis now shows we’re best off with cheaper cash.
But at the same time, Trump doesn’t want people to see him as a sugar-rush president—one fat blast of good economic times and then a faceplant.
So the tables have turned. And neither side wants responsibility. The banks want to blame the slowdown on Trump. Trump wants to blame it on Paul Ryan, who couldn’t get a better or stronger deal from his limp Congress.
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So what works? If the banks can’t keep pumping out prosperity… and neither the Hill nor the White House can do it… and Silicon Valley just about mints its own currency…
What’s left for you and me?
Socialism, cries the Left. But the real answer might have more to do with China.
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It’s China where growth is now so low it makes the US look like gangbusters.
It’s China where every last scrap of personal freedom is going away.
China where the best police dog is being cloned to ensure the best police force. Where government robots know everyone, and know what they’re doing.
China where there’s the party, there’s money, and then… a howling void.
And China’s the second most dynamic country in the world.
The era of big growth might be over. But it’s looking better and better to be an American regardless.
Sure, you could find some small country with a couple of palm trees. Spend the time and money to get a visa, get citizenship. Uproot everything and relocate.
Hope you can make friends or find a mate. Hope you can make a living. Hope real socialists or real criminals don’t take your stuff.
Idaho’s a lot closer. Or Vermont.
The Left wants to make you sick of America. Ready for something new to take its place.
But America ain’t going anywhere. And even at a slower pace, it’s still the place to beat.