I’ve talked with Ralph Nader at length a couple of times and I like him personally. I fundamentally disagree with him on a whole host of things but he has done much good. (Seriously he has. He’s also done bad.) He is I believe an honest critic of the crony capitalist system from the Left.
Saying that, he offers a bit of hyperbolic analysis here. He is too concerned with the character that Trump plays. And he is too concerned with any rollback of regulations which I know Mr. Nader knows are often used for the benefit of cronies in industry and also and especially by cronies in government. I however run this bit out of respect even though I think Nader’s missing some important nuances in the coming Trump administration.
It will be wins and losses with Trump. Even for Mr. Nader.
(From The Eurasia Review)
Fourth, Trump’s nominees are for the most part confirmed role-players in radical corporate-statism. They can talk a good game against crony capitalism or corporate welfare, but the soaring stock market, including defense industry stocks, signal that Wall Street likes the Trump team. This is not exactly what many of Trump’s supporters expected after November 8.*
Trump promised a bigger military budget, corporate tax cuts and fewer regulatory health and safety protections for consumers, workers and the environment. With a Republican-dominated Congress he may achieve these objectives, but they will be accompanied by rising deficits, more inflation, and the cost of preventable human casualties.
*The reason the market has done well is because there is a sense that the boneheads are on the way out and that the economy will be allowed to breath under Trump. (We’ll see.) Nader is half right on defense stocks. But Trump is less of an interventionist neocon than Hillary or Obama even if he does have generals on his staff. It has been my experience that the generals are often not the war mongers. More often it’s the politicians.
As for the deficit, it likely will rise if tax cuts don’t happen without budget cuts. (The likely scenario.) Inflation also is in the cards, but not because of Trump. The Fed created a giant bolus of money (to say the least) during the Obama years which may, may, find its way broadly into the economy.