Donald Trump was recently sworn in as the 45th President of the United States. According to Dawn J. Bennett, host of Financial Myth Busting, Trump moved full speed ahead as soon as he was sworn into office. In her article, “Full Speed Ahead,” Bennett says Trump’s Inaugural Address was like a declaration of war against the American Ruling Establishment.
She explained, “In Trump’s speech, it was clear that he sees America’s greatest enemies to be here at home: the entrenched interests that believe America should impose itself upon the world, the politicians that serve the money provided by those interests rather than the American people, the entire establishment that has run America into the ground while making themselves rich along the way.”
Trump immediately started to tear down Obamacare, as promised during his campaign. He signed an Executive Order to give states more flexibility and to lessen law’s burden on businesses and individuals.
“It is clear that Obamacare is neither mathematically nor actuarially sound, and the 22 million Americans covered under ACA exchanges and expanded Medicaid under the law are vastly outnumbered by the millions who see Obamacare as a disaster either in fact or in the making,” says Bennett. “While it will take Congressional action to repeal the law, this order was both symbolic of Trump’s intent to follow through on his promises and substantive in providing direction within the framework of the existing law to the government employees responsible for its implementation.”
While expectations have been set for a growing economy, Trump must deal with how to fix what has been broken during the Obama administration. Bennett says she believes the stock market is fake. It’s moving up because of persistent intervention and derivatives from the Federal Reserve— not because people are buying into it.
According to Bennett, there are many signs that tell us the system isn’t really working. These signs include:
- Wholesale liquidation of U.S. Treasuries that continued in November.
- Japan and China have sold off Treasuries in the billions over the last four to six months.
- China now has its lowest Treasury holdings since 2010.
- Foreign central banks, sovereign wealth funds, and reserve managers that hold U.S. paper are liquidating.
- The fundamental retail industry is declining, with large retail chains like Sears, Macy’s and Walmart closing stores and laying off employees.
- Boeing anticipates another big layoff to its engineering workforce, with more cuts to follow in other job classes.
“We must hope that Trump can stand up to the Deep State, the entrenched interests that have been running the country for their own benefit,” says Bennett. “We must hope that he can break through the falsehood, self-interest, and incompetence that has for so long prevailed. We must hope that he can build something real and strong to replace what he tears down.”